It may not be as much fun to win $20 as to win $200 but the short odds tell you who most people favor in a game. When enough experienced bettors are favoring one competitor over another, that’s a signal you’re not likely to win on the long odds.

Yes, there is always that occasional event where something unexpected happens. It wouldn’t be gambling if we were never surprised. Conservative betting may produce modest wins but it produces more wins than aggressive betting, especially if you don’t like doing the research.

The same principle holds true in table games and slot games. In blackjack, for example, experienced players don’t like to be dealt a 15 or 16 in their hand. The chances of winning are less than if they are dealt an 18. And you can always hit on an 11 or less.