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N <\/strong>is the sample size (10 in our example) \u03a3<\/strong> is the Sum symbol xi<\/strong> is the mean \u00b5<\/strong> is each result\u2019s difference from the mean<\/p>\n <\/div>\n <\/span>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n \n
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Why is standard deviation useful for punters?<\/strong><\/div>\n <\/div>\n <\/i>\n <\/label>\n \n
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Punters can use standard deviation to calculate how likely it is that a statistic in sports will differ from the mean, and what the variance is. You can also use it to determine odds, assess volatility and your performance as a punter.<\/p>\n <\/div>\n <\/span>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n
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What is variance in gambling?<\/strong><\/div>\n <\/div>\n <\/i>\n <\/label>\n \n
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Variance is the unpredictability associated with small sample sizes. A coin has odds of 50% to land on heads or tails. However, over the course of 10 or 100 flips, it will not always be a 50\/50 distribution. Variance is a number that explains how the various possible outcomes of a number of coin flips are distributed.<\/p>\n <\/div>\n <\/span>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"
As a punter, you are always looking for a way to predict the outcome of a match. In general, a statistical approach will make the most sense. While calculating averages is very important, averages are influenced greatly by outliers (i.e. extreme scores, such as 7 \u2013 0 in football), which are hardly representative of the … Continued<\/a><\/p>\n","protected":false},"author":50,"featured_media":111346,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[579,628],"tags":[],"acf":[],"yoast_head":"\nStandard Deviation & Variance in Betting | Ultimate Guide<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n","yoast_head_json":{"title":"Standard Deviation & Variance in Betting | Ultimate Guide","description":"Standard deviation shows how frequently and by how much results differ from averages. \u2705Here is how you can apply it to your betting strategy \u2705","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/panalobet456.com\/standard-deviation-in-betting\/","og_locale":"en_GB","og_type":"article","og_title":"Standard Deviation & Variance in Betting | Ultimate Guide","og_description":"Standard deviation shows how frequently and by how much results differ from averages. \u2705Here is how you can apply it to your betting strategy \u2705","og_url":"https:\/\/panalobet456.com\/standard-deviation-in-betting\/","og_site_name":"panalobet456.com","article_published_time":"2020-04-23T16:40:02+00:00","article_modified_time":"2024-11-13T10:00:54+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/panalobet456.com\/app\/uploads\/2021\/09\/tpp-finance-featured-image.jpg","type":"image\/jpeg"}],"author":"James Cormack","twitter_card":"summary_large_image","twitter_creator":"@jamescormack_","twitter_site":"@thepunterspage","twitter_misc":{"Written by":"James Cormack","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/panalobet456.com\/standard-deviation-in-betting\/","url":"https:\/\/panalobet456.com\/standard-deviation-in-betting\/","name":"Standard Deviation & Variance in Betting | Ultimate Guide","isPartOf":{"@id":"https:\/\/panalobet456.com\/#website"},"datePublished":"2020-04-23T16:40:02+00:00","dateModified":"2024-11-13T10:00:54+00:00","author":{"@id":"https:\/\/panalobet456.com\/#\/schema\/person\/4d4488f87510150e27678d8bc596f2f0"},"description":"Standard deviation shows how frequently and by how much results differ from averages. \u2705Here is how you can apply it to your betting strategy \u2705","breadcrumb":{"@id":"https:\/\/panalobet456.com\/standard-deviation-in-betting\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/panalobet456.com\/standard-deviation-in-betting\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/panalobet456.com\/standard-deviation-in-betting\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/panalobet456.com\/"},{"@type":"ListItem","position":2,"name":"Strategy","item":"https:\/\/panalobet456.com\/category\/strategy\/"},{"@type":"ListItem","position":3,"name":"Standard Deviation and Variance in betting"}]},{"@type":"WebSite","@id":"https:\/\/panalobet456.com\/#website","url":"https:\/\/panalobet456.com\/","name":"panalobet456.com","description":"Your Go-To Site For All Things Betting","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/panalobet456.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-GB"},{"@type":"Person","@id":"https:\/\/panalobet456.com\/#\/schema\/person\/4d4488f87510150e27678d8bc596f2f0","name":"James Cormack","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/panalobet456.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f048a88b6873603dee5f9a935b00c412?s=96&d=wp_user_avatar&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f048a88b6873603dee5f9a935b00c412?s=96&d=wp_user_avatar&r=g","caption":"James Cormack"},"description":"Big sports fan specialising in football. Experienced the lows of Vlad Chiriches and Tim Sherwood as a Spurs fan along with the more recent \u2018success\u2019 under Pochettino. My following of the New England Patriots since 2012 somewhat makes up for the lack of silverware produced by Spurs in my lifetime.","sameAs":["https:\/\/twitter.com\/jamescormack_"],"url":"https:\/\/panalobet456.com\/author\/jamescormack\/"}]}},"_links":{"self":[{"href":"https:\/\/panalobet456.com\/wp-json\/wp\/v2\/posts\/79964"}],"collection":[{"href":"https:\/\/panalobet456.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/panalobet456.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/panalobet456.com\/wp-json\/wp\/v2\/users\/50"}],"replies":[{"embeddable":true,"href":"https:\/\/panalobet456.com\/wp-json\/wp\/v2\/comments?post=79964"}],"version-history":[{"count":6,"href":"https:\/\/panalobet456.com\/wp-json\/wp\/v2\/posts\/79964\/revisions"}],"predecessor-version":[{"id":203251,"href":"https:\/\/panalobet456.com\/wp-json\/wp\/v2\/posts\/79964\/revisions\/203251"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/panalobet456.com\/wp-json\/wp\/v2\/media\/111346"}],"wp:attachment":[{"href":"https:\/\/panalobet456.com\/wp-json\/wp\/v2\/media?parent=79964"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/panalobet456.com\/wp-json\/wp\/v2\/categories?post=79964"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/panalobet456.com\/wp-json\/wp\/v2\/tags?post=79964"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}