Before delving into the world of betting, it is always a good idea to read up about it and its nitty-gritties. Just like, there are some books that have the capability of changing one’s perspective towards life and can be considered what we call, “must-reads”; we have made a comprehensive list of five such “must-reads” books on recreational betting and its strategies which can give the readers an overall idea of what to expect from this industry.
Sharp Sports Betting by Stanford Wong
Deemed as the “Bible” of the sports betting industry, this book is best suited for beginner sports bettors. However, intermediate and advanced bettors may also be benefited from the statistical and probabilistic explanations this book brings.
It starts from the absolute basics like how to place bets, how to estimate a win and even the general sports betting terminologies. Wong does not hold back on any of the details and focuses on American football in this 400-page-long book. The ideas and statistics are explained in this book with illustrations with the help of tables and indices which are equally applicable to other sports. Online bettors may also find these useful along with more online betting tips at BetIndia.
The book was originally written in 2001 and some trends and biases may not continue to exist, however its editions have been revised a number of times since.
The Signal And The Noise by Nate Silver
This book by Nate Silver, the man behind the website FiveThirtyEight takes a broader look at the outcome of various events by combining past trends and statistical analysis, much like the process of determining the winner of an election.
Silver’s skill in statistics and building of mathematical models to predict outcomes in politics, climate change, weather forecasting and economics, also pays off in sports all of which are discussed in the book, elaborately.
He criticises and corrects upon a number of factors that affect the speculation of the consumers; things like vague terminology by the media or classical statistical methods like the “frequentist” approach of Ronald Fisher.
In contrast, he says, a practical statistician needs a sound understanding of how baseball, poker, elections or other uncertain processes work, which measures are useful, etc. For him, classical approaches need to take into account a larger perspective to understand uncertainty in the modern world.
Mathletics: How Gamblers, Managers, and Sports Enthusiasts Use Mathematics in Baseball, Basketball, and Football by Wayne Winston
This is one of the best books on recreational betting that elaborates on the use of simple mathematics in analysing probabilistic outcomes in events regarding professional baseball, basketball, football, and in sports gambling.
Wayne Winston, an alumnus of MIT, describes the methods by which coaches and managers evaluate players and optimize team performance.
Mathletics combines fun math problems with instances from actual games, teams, and players, along with personal experiences that Winston shares from his work as a sports consultant. These make this book equally enjoyable for math enthusiasts as well as bettors.
It is a relatively easy read with simple tables and illustrations of the author’s ideas.
The Smart Money: How the World’s Best Sports Bettors Beat the Bookies Out of Millions by Michael Konik
Michael Konik is an author, television personality and seasoned poker player. He has written a number of books on recreational betting, gambling and various games.
In this book, Konik reveals strategies and game plans of the world’s top sports bettors. This is not a book for beginners in this arena but a handbook of sorts about how difficult it is to achieve success at sports betting and how much time and hard work it requires to excel at it. It gives an insight into the minds and practices of great bettors.
One of the popular tactics covered in this book is “fading the public” and the difficulty faced by popular bettors to get money down on games once they become profitable.
The Man with the $100,000 Breasts: And Other Gambling Stories by Michael Konik
Another gem by Konik, this book is an entertaining read, which gives readers a view into the glamorous but quite eccentric lives of some professional gamblers, high rollers and sports betting hustlers.
The title is based on the story of Brian Zembic, who subjected himself to breast implantation surgery after a fellow gambler bet him $100,000 that he would not do so. Some people will do anything for money! There are more such bizarre and hilarious stories about one of the most lucrative industries that Konik shares with his readers.
In addition to these, he also shares a couple of insider tips on how to score higher at tables, identifying which casino games should be avoided, and how to gain a legal advantage over the house.