The Cons Of Being A Professional Sports Gambler
By definition, you’ll win more often by betting on favorites, but that doesn’t necessarily mean you’ll make more money. Every time Cole takes the mound, the Yankees are more likely to win than lose. Oftentimes with ace pitchers, the market odds are inefficient. Because everyone knows they’re great, nobody wants to bet against them, and so the lines often get shaded a bit more in that direction than they ought to.
In some ways it was similar to what day traders might do in the stock market. Sports gamblers call these types of players “steam bettors.” Bookmakers call them “board cleaners.” Both groups tend to revile them. “People say you’re not a handicapper, you’re a bottom feeder, a leech,” Spanky says. Perhaps the contempt was because “chasing steam” was effective.
One of the guys I play with from time to time reached out to me a few days ago to see how I was doing. Ethan makes about $50,000 a year playing $1-2 No-Limit Texas Hold’em. He rarely plays in bigger games because he knows his edge is bigger at smaller stakes — and he’s comfortable with that. While he developed modest fame and earnings as a professional sports gambler, he rose to prominence in 2019 when he joined Jeopardy and applied his gambling strategies to the trivia game. He employed a technique known as “flipping the board,” which meant that he would pick the higher-priced questions first to accumulate points and then heavily wager on the Daily Double. He rode this strategy to over $2.5 million in winnings.
Haralabos “Bob” Voulgaris for example was a major sports bettor who ballooned in popularity in the late 90s with his unorthodox sports betting strategy on NBA games. The now millionaire sports betting legend began placing heavy wagers on teams based on coaching matchups, building wealth that he then used to wager even more. Voulgaris would then evolve his strategy, exploiting sportsbooks with halftime scores predictions.
Though he has finished in the red for a few months, he was always in the black by the end of the year. Walters won $3.5 million on Super Bowl XLIV after betting on the New Orleans Saints. Due to his reputation, Walters often placed bets through “runners” so bookmakers would remain unaware of the person behind the bet. Life as a professional sports gambler can be a very solitary existence. Most of your time working will be spent on research, analyzing your records, developing strategies and systems, and placing your wagers. Unless you are part of a team, you’ll be doing this alone in front of your computer.
In a lot of ways, this is the root problem with most amateurs. They want to be pros, but don’t have the discipline or long-term vision to make it happen. Matched Bet – When a bettor uses free wagers from a sportsbook operator to increase potential profit. This is a popular technique employed in new legal US sports betting markets as promotional offers are available. Betting Exchange – A betting platform where people wager against one another instead of betting against a sportsbook.