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re: Man loses his hard earned money at the casino and loses it
Posted on 6/29/23 at 9:45 pm to Vandyrone
Posted on 6/29/23 at 9:45 pm to Vandyrone
quote:
You said this, not me. I’m going off of what you said.
I should have been more clear. You are correct.
quote:
Far, far less than that can actually make a living betting on sports.
Now this I disagree with. When people are putting up $100,000 or more for their investment it’s no different than going to see your financial advisors. When wagering responsibly on .05% to 3% of their bankroll per wager those are the sharps that are moving the lines on a 220 billion dollar a year industry. That’s not little $50, $100 dollar bettors doing that. These guys hunt in packs. Manipulate lines. Share information and are viewed as a serious liability and threat to the books. Arun Shiva over here in Alabama has a Phd in biostatistics from the University of Alabama. He is a prime example of a guy that can win long term or go to work for the casinos and has a documented 19 years of wagers without a losing year when combining all sports bet in a calendar year. Legalized gambling in a lot of these states has turned it into a serious investment for individuals and groups alike and they aren’t messing around. Where the industry has become aggravating is casinos not letting you wager what you want. They will take a persons money that loses on the regular but soon as you start popping the books for chunks of money they reduce your size of wagers. That needs to be regulated.
This post was edited on 6/29/23 at 10:09 pm
Posted on 6/29/23 at 10:22 pm to Earthquake 88
You’re talking about an infinitesimal number of people that have a highly unique set of skills. That subset of people certainly is much less than 1 in 100 of even dime-level bettors.
There are just too many barriers to success. Highly sophisticated models and data mining techniques used by books. Higher vig across the board (8 cent lines are long gone). Ease of making impulse bets destroys discipline.
It can be done. But the odds are highly stacked against even the most savvy and bankrolled sports bettors.
There are just too many barriers to success. Highly sophisticated models and data mining techniques used by books. Higher vig across the board (8 cent lines are long gone). Ease of making impulse bets destroys discipline.
It can be done. But the odds are highly stacked against even the most savvy and bankrolled sports bettors.
This post was edited on 6/29/23 at 10:32 pm
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