In today’s piece, we’ll compare the resale real estate market to the betting market and identify their commonalities. We will also talk about irrational behavior and betting markets.
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A huge number of people in the world resell real estate and make a living this way. Almost every person, one way or another, has encountered such people or heard about them. The concept of work of these specialists is simple and understandable to a wide range of persons. In today’s article we will talk about whether such a model can be applied to betting and what to get out of it.
Real estate resale: the essence of the process
The main point in the process of reselling real estate is its purchase at a low cost and subsequent sale at a higher price after renovation or restoration. Professional realtors have a certain algorithm of finding such housing, which can bring them profit later.
Here it is necessary to take into account the starting value of the apartment or house, the potential cost of its finishing or restoration and the approximate price at which it will be possible to sell the object. That is, the realtor assesses the risks, weighs the pros and cons and decide whether to buy a home for resale or not. Almost the same concept is present in the market for placing rates and these processes have a lot in common.
The resale process and the betting process have similarities
The main similarity between these processes is that bettors seek out teams in the market that are considered undervalued from their professional point of view. The pricing models of the events and the ability to estimate the likely return on investment help them do this. Professional bettors are so adept at this that they are able to identify such discrepancies in odds by eye just by looking at the line.
Professional real estate salesmen evaluate the advantages and disadvantages of a particular home: the quality of infrastructure, the location of the neighborhood, the renovation of the building itself, etc. Betting gamblers operate on a similar analogy, examining the playing styles of clubs, the number of injured players, the current form of teams and the like. In both cases, we come to the point where the whole issue is the “price of entry” and the level of potential profitability.
Irrational behavior.
A good number of bettors understand the similarities between real estate resale and betting. However, only a few are able to put this logic into practice with their own betting. The most common method of betting involves contrasting oneself with most other bettors. That is, people often bet on the side of the market where the least amount of the other participants’ investment is placed.
This is similar to the way a realtor would poll their neighbors about their potential purchase of a particular home and make an opposite decision based on their responses. In both cases, similar basic principles apply. However, in the betting process, such a strategy is considered by some bettors to be a tricky way to make money, and in the case of reselling a house, you would not be considered the smartest person if you did so.
Buying undervalued properties
Professionals in the home resale industry look out for properties in up-and-coming neighborhoods whose potential is still undervalued by the rest of us. Herein lies its advantage and profit in the long run.
If you draw an analogy in betting, the team after a series of unsuccessful matches gets not the best estimate among bookmakers and quotes for its victory begin to inflate significantly. If the failures of this club in your opinion were due to objective reasons and the team is considered quite strong, then there is a chance to get a good profit, betting on the fact that it will be more successful in the next game.
Market Openness
The same principles work in all open markets. It doesn’t matter what it is you want to buy for resale. In any case, you need to look for the option with the highest potential and lowest price. This rule is considered the key to success for both the home seller and the bettor. In the case of betting, this criterion for profit can be the most favorable odds, as in the Pinnacle betting office, which has long earned its reputation as the most profitable office for players.