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re: "Sports Betting" Hedge Fund ..... anyone?
Posted on 12/7/12 at 7:47 pm to gizmoflak
Posted on 12/7/12 at 7:47 pm to gizmoflak
I'm sure these people aren't picking winners. When you sports bet for a living, you are not picking winners. You have a stake in 10+ different books and bet opposite lines that are slightly off resulting in pure profit. Granted, the profit is most of the time very small, but if you do it every day, it adds up quickly.
For example-
5dimes had
Peyton Manning over 2.5 TDs at -130
Peyton Manning under 2.5 TDs at +105
local bookie had Manning over 2.5 TDs at +140
Manning under 2.5 TDs at -160
Bet $1000 on 5dimes under at +105 to win $1050
Bet $1000 on bookie over at +140 to win $1400
He goes under you win $50. He goes over you win $400. Then there is another subject of arbing which creates equal return on both sides.
I'd venture to say that this is what they do.
For example-
5dimes had
Peyton Manning over 2.5 TDs at -130
Peyton Manning under 2.5 TDs at +105
local bookie had Manning over 2.5 TDs at +140
Manning under 2.5 TDs at -160
Bet $1000 on 5dimes under at +105 to win $1050
Bet $1000 on bookie over at +140 to win $1400
He goes under you win $50. He goes over you win $400. Then there is another subject of arbing which creates equal return on both sides.
I'd venture to say that this is what they do.
2
Posted on 12/8/12 at 1:22 pm to TigerTatorTots
Is betting on 5dimes legal? Can you get into trouble with the law?
What are some other reputable sports betting sites? Also how do you get it on Vegas sports betting lined? Can you do it online?
What are some other reputable sports betting sites? Also how do you get it on Vegas sports betting lined? Can you do it online?
This post was edited on 12/8/12 at 1:23 pm
Posted on 12/8/12 at 11:36 pm to TigerTatorTots
quote:
TigerTatorTots
You can do that as an individual gambler betting a few hundred. These guys won't be able to lay down $10 million on Duke-UNC. Nobody will take that kind of action. And if they have any investors at all, they'll need to place a lot of bets to generate their return. I don't see how they can do it.
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