Seriously, how difficult is sports betting?
I find it many say profiting in sports betting is next to impossible. I myself asked a question here, and many say it's very unlikely. I am 20 right now, and am planning to do a lot of sports betting at the age of 21. Here is some background:
- I consider myself a NBA and NFL Expert
- Over my life, I've made many correct predictions in both sports, many times against what most thought. And I'd say usually I am right.
- I have done sports betting with my friend who is a bookie, and hit about 70% there over a course of 70-80 otal basketball + football games
- I DO believe in LOCKS. I know many pros think they don't exist. I don't buy it. In NFL last year I went 13-1 in lock picks, and I made about 1 pick per week. Basketball, I was 7-1 in lock picks before my bookie went away. Bottomline, I've hit at an incredibly high rate in lock picks, and I don't see why I can't continue. There are some games that it's just so easy and you have to take it. It's a LOCK PICK.
I feel like when I start doing sports betting, I can do quite well. To be honest, I think another advantage every bettor has is HE GETS TO CHOOSE how much he wants to put in every game. He can put double in games he is more confident on, and less in games he is less confident on. This to me is a big advantage, since I can profit heavily on my LOCK picks.
Is there anything I'm missing? Maybe it's not easy for everyone, but I don't see how it won't be easy for me.
I'm only going to spend about 15 minutes or so on this max per day. I feel my expert knowledge on NBA and NFL is good enough and that I don't need to spend that much time per day.
Also, I am Math Major along with Finance.
- Mrs. BonBonLv 510 years agoFavorite Answer
Hmmm- your young - you have heart - not to insult you - its yet to be determined if you have more heart than brains
bankroll and discipline is what seperates winners from losers
all people who bet have downswings - how you weather the storm during difficult times determines if you can be a lasting successful sports bettor
The number of people who can be profitable year after year is EXTREMELY low compared to those who try
there are a hell of a lot more poker players who can turn a small bank roll into a fort knox size one by having a good run - most successful poker players are admittingly losing sports bettors
you rarely hear of people who start with a small bankroll and work it up to the stratosphere in sports betting
theres several reasons for this
one is most people if you ask them - will proclaim they can hit over 60% in a season
yet the math and stats behind hitting 60% prove that its a license to print money
theres an article explaining starting with 1,000 if you can hit 60% for a 5 year period wagering 10% of your bankroll you can turn that 1,000 into BILLIONS of dollars
how many billion dollar sports bettors do you know>?
the burden is on the player - if a sports bettor is not a multi millionaire - he or she is either lying or can not hit over 60% for a long period of time
other factors come into play - while the argument can be made you can never risk high amounts to get to a billionaire as its IMPOSSIBLE to get huge amounts down for a single individual once you past 100k+ or more on a single major sporting event - it should be doable that if you can hit over 60% you should have no problem becoming a mulit- millionaire
another factor is I dont care if you bet with a bookie - online sportsbook - or in Las Vegas
if you are a consistent winner - ALL books will eventually watch you like a hawk - they will not hesitate to limit your action - unless you want to pay multiple runners to get your bets down - it will become just as hard to win as it will be to get your money down
Im not sure you are missing anything - but being a sports bettor in theory and practice are two very different things - If you have the work ethic - dont make stupid moves - dont bet over your head - its possible you can be one of the select few - talent is hard to gage in this business -
most who try - fail - this is a simple fact
picking winners is easy - picking more winners than losers - and lasting in a field in which the powers that be do everything they can to make your road to the top that much harder, is something you have to live and learn for yourself
I wish you luck- luck never hurts........lol
Just remember one thing - if it were easy; everyone would do it! Its NOT!
if your winning - try not to let it all go to your head and think your invincible - No Gambler is - even the good ones can be cleaned out!
Winning is a work ethic.........Its up to you:)
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- MunaLv 44 years ago
There is a huge difference between betting and investing, and the 2 cannot be compared. If you bet on a horse race, go to a casino, or buy a lottery ticket, within moments you either win or lose, that's it. If you put money into the markets, and what you bought goes down, you do not lose until you actually sell. And there is always the chance the stock, bond, or fund will rise again. Brokerage fees with the advent of the internet have drastically been reduced, so it is not a factor in purchases. True, professional investors may only make 15% yearly, but this is only an average. Some do great, and some fail. If you invest for the long haul, meaning years even decades, your chances assuming you put money into A-rated stocks, will appreciate. Look at Warren Buffet for example. Buy when all is down, put it away, then when life is grand, sell some.
- pdqLv 710 years ago
OUTSTANDING answer from Mrs. BonBon. "Best Answer" should go to her.
I just want to comment about your "LOCK" picks. I'm sure you remember that I was one of the people that said there is "no such thing as a Lock" in sports betting. I still stand by what I said, and you have proven it. To say something is a "Lock" means it can NOT lose! You said you went 13-1, and 7-1. Is that fantastic? Yes! Were they all "Locks" after all? NO!!!
If someone believes that a game is a "Lock", they have a tendency to bet too much of their bankroll on a single game. If it's possible to miss 1 out of 8, then it's possible to miss even more of these "locks".
Should you put ANY more money on something you feel is a REALLY good bet??? YES!!! That's exactly what a good sports bettor will do. He thinks in terms of "Betting Units". The size of the Betting Unit is proportional to his bankroll. If he finds a line is favorable, he may bet 1 Unit. If he thinks it's very favorable, he might be 2 or 3 Units. If he finds something whereas he thinks the bookies truly made a mistake (what you might consider a "lock"), he may put as many as 5 Units down on that game. Those are the games that will end up being most profitable for the sports bettor.
He does NOT just suddenly decide a game is a "Lock" and drop 50 Units on the game! Why not? Because he knows that there is NO SUCH THING as a Lock! Things go wrong. It's sports! Stuff happens!
Did you keep great records of that 13-1 you had on the NFL "locks"? How many of those "wins" were total blowouts? I'll bet at least half of those wins were very close wins. 1 more field goal the other way, and you lose the bet. Same with the 7-1 "locks" in the NBA. If you kept good records, go back and see how many "locks" were blowouts and how many were actually very close. One errant foul call and they don't cover the spread.
One more time I will also agree with the folks that said what I said before - 15 minutes isn't going to cut it. As someone posted here, you need to eat, breathe, and sleep sports statistics to give yourself a fighting chance. Any less than that, and you'll just be another sports fan that is a gambling junkie.
My last bit of advice - if you really end up doing this, learn about Bankroll Management and be VERY disciplined! Without discipline and bankroll management, you're doomed.
- JackAceLv 710 years ago
It's possible to be a winning sports bettor. I don't even think it's that difficult. I just think it takes 100% dedication. You have to live, eat and breathe sports statistics.
You can't just watch a game and say, "I think the Lakers are going to win" and feel good when they do. You have to have data to back your statements up. Knowing that making 85 of 100 free throws is 85% does not make you a master statistician. Do you know what linear regression is? Do you know what it means to find the least sum of squares? Maybe you do, maybe you don't. The fact that you didn't mention any kind of math background or interest is a giant red flag to me.
What magazines do you read? What web sites do you subscribe to? Just Sports Illustrated and ESPN? If that's the depth of your sports research, then you'll probably fall flat on your face. You need to have sports handicapping industry magazines and sites in your repertoire.
I'm not saying that it's impossible or that you can't do it. I just think the evidence you've provided so far means nothing to me. Go to the Gambler's Book Club in Vegas and talk to some of the handicappers there. They can school you on what you need to do to get started.
In any case, as I say to anyone who wants to place bets as a profession, start small and keep 100% accurate records. Do not move up in stakes until you can demonstrate months and months of consistent profitability. Best of luck to you.
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15 minutes per day? You don't have a chance, but you're welcome to try. Sports handicapping is done by professionals who spend hours upon hours analyzing data. They subscribe to data services that cost thousands of dollars a year so they can crunch numbers and determine real world odds. It sounds like you just want to look at Kobe and say "He kinda looks tired today. I think I'll bet on the Celtics."
- LegFuJohnsonLv 710 years ago
I don't understand why you keep asking. You don't agree with what people are telling you... so fine. Start betting and start making money.
You can bet on line right now, you don't have to wait until you are 21. Even if you are 21, unless you are in Nevada, you'll still have to go on-line to do this...
So good luck.
- Anonymous5 years ago
Well, I will not say, it is easy task but it gives you a chance to earn handsome money. I would like to introduce a new and awesome betiing source which provide you each update of sports. i.e
- Anonymous10 years ago
I think I just answered this question yesterday, so I'll defer to everyone else...which are all very good answers. Good luck.