Anyone here make a living from sport betting?

>>63319628
I know some who do (betting huge sums on "sure" games), but they have a large capital.

It's a horrible lifestyle anyway.

>>63319659
Yeah, would need a huge bank roll for that, to account for a bad run.

Why would you say it's a horrible lifestyle though?

I know someone who is obsessive about horse racing and makes some decent money doing it. Not a living, but its his passion.

I went to Balmoral and Arlington a few times with him and it is kind of magical. Some people really can pick the horse that is going to win.

>>63319628
It's not about picking winners it's about finding value in the price.

I work in a casino. Gamblers are easily the lowest of all human filth. The casino business model is bulletproof but I still hear people claiming to be professional gamblers. They seriously live feast or famine all the time and put in twice as many hours as you would at a normal job and still lose all the time.

I just don't think it can be done, unless you already have a lot of cash as a safety net. And if you have a lot of cash, why bother risking?

Betting can only give you an extra bit of cash on occasion, you absolutely cannot rely on it. Sometimes you've got to be brave and lump a heavy stake on something and maybe two out of ten times it'll come in.

>>63319877
Hmm valid point, I've heard that being said a lot. But I don't really understand it. By betting on something that I'd consider value would obviously have lower odds of winning than the favourite, so why not bet on something I'm sure is going to win?

>>63319628

yes I make a fortune from it, I own a bookies and tons of wastrels and degenerates come into my shop everyday and just basically hand we over all their money based on pure delusion

>>63319923
>professional gamblers
No such thing, anyone worth their salt will call themselves gambling mathematicians. Chances are good that they've been blacklisted from your casino.

There are quite a few people who make a living doing it in /bet/ but it's 90% retards now

>>63319949
the value thing works at high volumes. You'll have a lot of losers, but ultimately value trumps all if volume is sufficient.

In any case, there have been a few sports betting hedge funds that launched and failed. I'm sure that some people have made a good living on it but

1) at some point it almost certainly turned against them catastrophically
2) they may have just been lucky and didn't produce the sort of volume necessary to confirm long-term success.

OP here. I just started some online sports betting anyway, for a bit of fun. So I'll let you's all know how I go lol

Yes. NFL as well as fanduel/draft kings.

>>63320010
Ah, the good old general curse. Glad I got out while I could.

>>63319949
You ever been sure of something? If so I take it you put your house, car, and kids' inheritance on it yeah?

Knowing that you don't know is powerful.

If I back a team at 2.50 that I think should be 2.00 it's value. If I back a horse at 26.00 that I think should be 15.00 it's value. The price compared to the favourite is irrelevant.

>>63319949
In simple terms.

Take 5.00 bet. You put $1 on it and you get $5 if you win. Statistically you're supposed to win 1 in 5 times, and so if you do this bet 5 times in a row, you'll break even. (In reality it's designed so you lose a bit but this is just an example.)

However if there is a bet at 6.00 when you know it's worth 5.00, then it's value. It'll happen 1 in 5 times statistically, but when you hit that 1 you'll get $6 back, meaning you made a $1 profit just by betting on the value.

1 in 5 is more likely to lose, but you're still gonna make money on it if the volume is enough and it's value.

I made this for like three months, when i had no job
Didnt make much money, just enough to pay my rent/bills and buy wood
End the end of the month i had less cash than minimal wage jobbers
Not a good way to live tßh

>>63320524
Food not wood ofc
Fucking mobile

>>63320010

nice meme, if you could make a living out of it all the bookies would go out of business

>>63320555

>Only averaging £555 a day profit

zzzzzzz yeah no point gambling lads

a friend of a friend in uni made bank on horses

eventually got a job at william hill lel

>>63320524
>>63320540
t. German who was forced to gamble for a living and burn wood for heat because Merkel gave his home to refugees

>>63320741
Nah that was in 2010 m88
But nice ameribanter

Sports gambling turns rational people into degenerate retards.
If you lose a bet, you end up chasing it with a dumb bet
If you win a bet, your ego get inflated and end up making dumb bets

i took it seriously for a few months, although i was working full time

wasnt worth even close to being worth it, too much stress

having hundreds on a bet, when it wins you dont even enjoy it, you just feel relief, as opposed to joy

>>63319628
I read a statistic about regular betters
90% are in minus with cash from bets
5% are even
3-4% are in a little plus
1-2% can/could make a living of it

But these 1-2% probably have enough money so they dont need to rely on it

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In order to be successful, you need a combination of skills/assets:
1. Money management
2. Sufficient bankroll
3. Math skills (statistics, probability)
4. Ability to spot value (i.e. in depth knowledge of whatever sport you are betting on)

>>63325057
The reason betting on sports can be profitable is that you are actually betting against the general public. You're not betting against the house. The odds are based on the public's betting trends. You simply have to be smarter than the "average bettor".

Another key skill that the average gambler doesn't have is money management. Even if you consistently find high value bets, if you have too much on a losing bet, or too little on a winning bet, you will end in the red.

>>63325164
you have to be better than average by more than the vig. 60% record is pretty good, and in lots of cases you are just breaking even.

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>>63328401
Exactly, you basically have to win 50/50 bets 53% of the time....possible if you're a math autist and sports data expert, but very difficult in the long-term.

Nate Silver ranked the best pro gamblers ever, and it was some dude who only bet on the NBA and won 57% of the time.

>>63329380
Haralabos Voulgaris

the man is a multimillionaire

>>63329528
he's also the name of a harry potter spell

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I made over 18,000 USD last year in a London casino. I know you won't believe me, but it's true. Best part is, I was playing red/black at the roulette table - European wheels only have 1 green instead of two and if you bet red/black and it lands green, you only lose half your bet. It's like they want me to win. Sure, I know I can't "make a living" off gambling, but here's how I've made a shitload of cash. I'm up at least $15K over the last few years when I started gambling, probably more than that.

1. I don't drink. Obviously a huge advantage.
2. I only play the best odds: betting the 1:1 on the roulette wheel or blackjack.
3. I only start with $200-300 and know I'm going to either lose everything, or at least double or triple up.
4. I don't play for entertainment. The longer you play, the worse your odds. I get in and out quickly.
5. Bet big. I'll bet at least $50 and usually $100 when playing these (almost) 50/50 games. If you're betting small amounts, it's just a matter of time before you lose it all and your winnings will be minimal if you do happen to come out on top.
6. Fuck sports betting. It's too easy to be biased, even if you aren't aware of it.

Pic related, my winnings in London.