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  1. #31
    NBA sixth man of the year FultzNationRISE's Avatar
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    Default Re: Is there money to be made by sports betting

    Quote Originally Posted by Overdrive View Post
    I was successful because of the strict rules. I avoid the rough stretches GOBB describes because I end betting the moment it doesn't work out twice or I win enough.

    The biggest problem about gambling is when people don't know when to stop. If you win you got what you wanted. It would be retarded to reinvest. If you lose stay away, you'd dig yourself into a bigger hole if you keep on losing.
    This doesn't make sense unless you only gamble once in your life. Gambling two days apart or two weeks apart does not affect your odds of winning or losing on aggregate. If you win a hundred bucks, you have the same odds of losing it or doubling it on your next bet, whether it's placed 15 minutes later or 3 weeks later.

    So he's right, you would only need rules for spacing out the timing if you're losing, to make sure you lose less money over time. If youre winning it would be immaterial.
    Last edited by FultzNationRISE; 02-26-2021 at 07:56 PM.

  2. #32
    NBA Legend and Hall of Famer warriorfan's Avatar
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    Default Re: Is there money to be made by sports betting

    Sports betting is pretty difficult. Vegas with their spooky accurate odds and the vig make it a hell of a grind. Vegas is good but no one is perfect though...as some posters have already stated, it’s best to sit and wait while watching carefully for a good game. Once you find it, hammer it hard. Live betting can be interesting too. A lot of the time they will give huge odds for comebacks when it’s not that much of a stretch, like when one team is up a good amount but have caught all the breaks in the game up to that point. I’ve always had the most success with football.

    Parlays are sucker bets but they are still fun to mess around with every once in awhile.

  3. #33
    NBA lottery pick Overdrive's Avatar
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    Default Re: Is there money to be made by sports betting

    Quote Originally Posted by FultzNationRISE View Post
    This doesn't make sense unless you only gamble once in your life. Gambling two days apart or two weeks apart does not affect your odds of winning or losing on aggregate. If you win a hundred bucks, you have the same odds of losing it or doubling it on your next bet, whether it's placed 15 minutes later or 3 weeks later.

    So he's right, you would only need rules for spacing out the timing if you're losing, to make sure you lose less money over time. If youre winning it would be immaterial.
    The limit are the funds. Even if it's in your favour you might go on a losing streak. It's not like NBA games are random events. They used to be fairly predictable, doesn't mean you couldn't lose and get your funds taken away. I'm sure with infinite money you could make quite some money betting on NBA games.

  4. #34
    NBA Legend and Hall of Famer warriorfan's Avatar
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    Default Re: Is there money to be made by sports betting

    Quote Originally Posted by Overdrive View Post
    The limit are the funds. Even if it's in your favour you might go on a losing streak. It's not like NBA games are random events. They used to be fairly predictable, doesn't mean you couldn't lose and get your funds taken away. I'm sure with infinite money you could make quite some money betting on NBA games.
    This is a big part of it, not just sports betting but gambling all together.

    Vegas wins because they have the biggest banks. Meaning they can ride out the toughest of cold streaks and have enough bankrolling that eventually things will regress towards the mean.

  5. #35
    Yellow King scuzzy's Avatar
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    Default Re: Is there money to be made by sports betting

    Nadda

    Your winnings is just capital on the next game. The real juice is the highs and lows.

    Been grinding halftime spreads on/off since those Poker sites exploded back around 2007, regardless how much played it always broke even. Vegas lines are too consistent and they hire the best. Online forums with thousands actively sharing info cant break em. If they could we'd all be rich but then there would be no fun because without the lows of losing you stop experiencing the euphoria from the highs of winning

    The only winners are people like my dad who trip to Vegas once a year, go with $1000 limit and walk away up $300 or down $300 in Blackjack. It's just cards with play money, there's no squirts of dopamine and no rush. Whether he wins $300 or loses the $1000 the feeling is always the same. Some people can just enjoy an 8ball once a year.

  6. #36
    2020 Insidehoops MVP Stanley Kobrick's Avatar
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    Default Re: Is there money to be made by sports betting

    never been a gambler but if i were to bet on sports i would go to showgun for advice

  7. #37
    Whap'em ZenMaster's Avatar
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    Default Re: Is there money to be made by sports betting

    Quote Originally Posted by Overdrive View Post
    The limit are the funds. Even if it's in your favour you might go on a losing streak. It's not like NBA games are random events. They used to be fairly predictable, doesn't mean you couldn't lose and get your funds taken away. I'm sure with infinite money you could make quite some money betting on NBA games.
    Of course you'd be able to make money if you had infinite money to bet, you could always just double your next bet after loosing. You're not the first to think of this, a French guy came up with this as a betting strategy many years ago. https://corporatefinanceinstitute.co...gale-strategy/

    What you could do is take whatever amount of money you have, split it up into small units of 1% each and then have a strict system for how many units you can put down per bet depending on the odds levels - bankroll management.

  8. #38
    ... on a leash ArbitraryWater's Avatar
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    Default Re: Is there money to be made by sports betting

    From the start of the 2019 USO until 2 months ago, I made +14 K (after historical loss of -6 before), since dropped down to 8, but one match short of 5 K coming in (would be my 2nd biggest win ever).


    But yea, like 98% of gamblers lose long term.

    I bet football, basketball and tennis.

  9. #39
    ... on a leash ArbitraryWater's Avatar
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    Default Re: Is there money to be made by sports betting

    Last night taking the Raptors, Clippers and Warriors, more than doubled your money (2.26), all hit, but still missing a leg in footy.

  10. #40
    NBA Legend and Hall of Famer tpols's Avatar
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    Default Re: Is there money to be made by sports betting

    Quote Originally Posted by FultzNationRISE View Post
    This doesn't make sense unless you only gamble once in your life. Gambling two days apart or two weeks apart does not affect your odds of winning or losing on aggregate. If you win a hundred bucks, you have the same odds of losing it or doubling it on your next bet, whether it's placed 15 minutes later or 3 weeks later.

    So he's right, you would only need rules for spacing out the timing if you're losing, to make sure you lose less money over time. If youre winning it would be immaterial.
    It does though. Momentum is a powerful thing and when you're on a losing streak it's likely to continue. You'll be more rash in your decisions, emotional, basically enter fight or flight mode trying to dig out but it's quick sand. Step back. Breathe. And evaluate. What he said is absolutely true.

  11. #41
    Sixers|Eagles|Phillies GOBB's Avatar
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    Default Re: Is there money to be made by sports betting

    Quote Originally Posted by ZenMaster View Post
    No you obviously didn't get me, I said that luck can go both ways and that it does, so from the pov of making money in gambling it's referred to as variance and something that's out of your control.
    E.g you can have a 40% chance of winning a bet and win 10 times in a row, and you can have 60% chance of winning a bet and lose 10 times in a row. All that stuff can happen in any way imaginable, and if you bet enough, chances are that it will at some point.

    You're right that there's a lot of people giving bad advice about parlays or betting in general, making it sound like easy money to make when it's not, but that's not me. I work with this stuff, can't disclose exactly what I do out of fear of getting doxxed, but I'm an expert on player behavior within gambling, no BS.
    I follow you now sir. And my bad lumping you in a group. Defiantly don’t want you to get doxxed.

  12. #42
    ... on a leash ArbitraryWater's Avatar
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    Default Re: Is there money to be made by sports betting

    Quote Originally Posted by tpols View Post
    It does though. Momentum is a powerful thing and when you're on a losing streak it's likely to continue. You'll be more rash in your decisions, emotional, basically enter fight or flight mode trying to dig out but it's quick sand. Step back. Breathe. And evaluate. What he said is absolutely true.
    Thats true.

    We are too emotional and want to quickly get money back, leading to bigger risks and taking bets we normally wouldn‘t.

    Besides expertise and discipline, the biggest factor in winning or not is pay roll.

    With no pay roll you make accumulators. Long ones. All the time.

    Also known as a suckers bet.

    Bookies make money off those all. day. long.

  13. #43
    O LA DI PO ItsMillerTime's Avatar
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    Default Re: Is there money to be made by sports betting

    Been on a roll lately with college basketball, looking forward to March Madness. Tend to stay away from the NBA lately after getting burned earlier in the season.

  14. #44
    NBA Legend coin24's Avatar
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    Default Re: Is there money to be made by sports betting

    I do well betting on nrl, (Aussie mud hut rugby)
    Most games is easy to pick a winner, own line, and an anytime try scorer. Usually triple your money.. multi / parlay I think it’s called there


    Nba betting, this season is too hard to pick games usually. Never been a fan of the over/under etc.been staying away from it so far

  15. #45
    Good High School Starter baudkarma's Avatar
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    Default Re: Is there money to be made by sports betting

    Quote Originally Posted by Manny98 View Post
    I consider myself pretty knowledgeable on the game of basketball and I just curious if anyone here has made decent profit on betting on sports

    Like I was looking at some of the bets and it seems easy money if you know basketball like Lebron scoring more than 21 points tonight or Gobert getting more than 10 rebounds which are both very likely to happen
    Sure, there's money to be made in sports gambling. But of course way more people lose than win. Start out small, or maybe even don't even bet real money. Give yourself say, $1000 imaginary dollars and start writing down wagers. Track which bets win and which ones lose, and adjust your "bankroll" accordingly. You'll probably find that while you're pretty knowledgeable, the bookies in Vegas know a whole hell of a lot more than you do.

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