What is a octopus bet?

An octopus is a real football stat invented in 2019 by a writer from Sports Illustrated. It occurs when the same player that scores a touchdown scores the ensuing two-point conversion. There have only been 169 recorded instances in NFL history. The two-point conversion was introduced to the league in 1994.

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Make Your Bookie Cry And Pull The Hair By Generating $23,187

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DraftKings released on Tuesday a novelty prop bet under the title of “Will There Be an Octopus?” No, it’s not some sort of distorted philosophical pontification. Nor is it a joke. An octopus is a real football stat invented in 2019 by a writer from Sports Illustrated. It occurs when the same player that scores a touchdown scores the ensuing two-point conversion. There have only been 169 recorded instances in NFL history. The two-point conversion was introduced to the league in 1994. Six players have done so this season: Michael Pittman Jr., Danny Amendola, Amon-Ra St. Brown, Dalton Schultz, Mark Andrew and Quintez Cephus. Todd Gurley leads all players in NFL history with four octopi during his tenure with the Rams. Hall of Fame wide receiver Randy Moss is second-best all-time with three octopi.

Will There Be An Octopus during Bengals vs. Rams?

Odds are as of Tuesday and are according to DraftKings.

Yes: +1400

No: -2500

Betting odds of +1400 imply a probability of 6.67%. That’s the break-even point — if you believe that there’s better than a 6.67% chance that an octopus will take place, then this bet offers value. There have been roughly 7,500 NFL games since the two-point conversion was implemented in 1994. With 168 recorded octopi — each occurring in different games — that means the raw odds of it taking place are around 2.25%. If you’re adamant it won’t happen, you’ll get some betting edge for your money, but you’ll need to risk a decent chunk of change to extract any of that value. Odds of -2500 imply a probability of about 96.15%. The probability that an octopus doesn’t occur is around 97.75%, which gives a “no” wager a roughly 1-2% betting edge. A bet of $100 on “yes” would net you a profit of $1,400. A $100 wager on “no” nets $4.

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Do most gamblers lose?

Among the heaviest gamblers, 95% lost money.

businessinsider.com - Study Shows That Most Gamblers Are Throwing Away Money

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They may not admit it, but most people lose money through gambling — and heavy gamblers lose the most, according to a new analysis by the Wall Street Journal. The Journal drew these conclusions from a study of several databases and interviews with experts. Eighty-nine percent of gamblers lost money in a study of 4,222 anonymous users of one online gambling network in Europe that includes games of chance like roulette, blackjack, and slots. In the small set of winners, few won more than $150. Among the heaviest gamblers, 95% lost money. In this group, big losers outnumbered big winners by 128 to 1. In another study of 18,000 loyalty card holders at U.S. casinos, only 13.5% ended up winning money. The odds of winning were better when it came to games of skill like poker, but still most gamblers lost money. And that's all you need to know when it comes to the investment value of gambling for most people.

Read the full analysis at the Journal >

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