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Understanding variance is crucial for analysing the risk-reward ratio of a bet or betting strategy. So how does this translate to sports betting? Lower bet sizes: Reducing the bet size lowers the variance and means that you'll experience smaller fluctuations in your bankroll, since you're risking less money on each individual bet. Analysing data: Finally, bettors can control variance by analysing data and making informed decisions based on findings from that data. It's similar to a casino with a fixed house edge on Roulette. I also recommend reading my post on betting Strike Rates, as it nicely ties in with variance.

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