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ROI is insane. If you made 20% a year on Wall Street, you are crushing it. You can make 20% a month in sports gambling with a fairly pedestrian strategy. The o

ROI is insane. If you made 20% a year on Wall Street, you are crushing it. You can make 20% a month in sports gambling with a fairly pedestrian strategy. The only issue is that you can't scale well but this only becomes an issue when you need to put down tens of million a week (i.e. when you have $50m+). The barriers to entry are also getting higher as competition is increasing in the space (although limits are probably going up too). One big issue right now is data. If you bet on soccer (the sport with the highest limits), you need to spend at least $100-200k/year (before hiring programmers) on data to become competitive.

paulpauper 7y ago
>You can make 20% a month in sports gambling with a fairly pedestrian strategy. then after 2 years you would have billions of dollars. yeah right
- ucha 7y ago
  Parent comment said you can't scale.
  - paulpauper 7y ago
    Sports betting is huge. this is not 30 years ago. you can easily scale millions into bets/ and most ppl would be very happy to make $30 million out of $5k or so over a decade.
- hogFeast 7y ago
  Yes, most of the people at the top are billionaires. Tony Bloom owns Brighton FC, Benter is a billionaire (probably, he made several hundred million in HK), Billy Walters is likely close, Ranogajec, Alan Woods is close, Benham is likely close (or was before he decided to buy several football clubs). The issue, as I said initially, is that you aren't scalable past $100m or so (without connections to the Asian books, which some people above have...apparently, some of the guys are able to put down multiple millions on most European soccer leagues...which isn't available to most). But yes, most of the funds run by the above people have been making 100%+ for years.
- rtchau 7y ago
  It's solid. The problem is scaling: if you're betting fixed odds, a lot of bookmakers will limit the amount you can bet, or ban you outright if you're winning too much. If you're into horses and bet into the totes, you run the risk of wildly affecting the pool (and therefore the final payout) if you're throwing huge amounts into it. The only way to really scale it is to bet into pools that are already huge (like Hong Kong - hence why it's such a popular target for the big syndicates).

paulpauper 7y ago

>You can make 20% a month in sports gambling with a fairly pedestrian strategy. then after 2 years you would have billions of dollars. yeah right

ucha 7y ago
Parent comment said you can't scale.
- paulpauper 7y ago
  Sports betting is huge. this is not 30 years ago. you can easily scale millions into bets/ and most ppl would be very happy to make $30 million out of $5k or so over a decade.
hogFeast 7y ago
Yes, most of the people at the top are billionaires. Tony Bloom owns Brighton FC, Benter is a billionaire (probably, he made several hundred million in HK), Billy Walters is likely close, Ranogajec, Alan Woods is close, Benham is likely close (or was before he decided to buy several football clubs). The issue, as I said initially, is that you aren't scalable past $100m or so (without connections to the Asian books, which some people above have...apparently, some of the guys are able to put down multiple millions on most European soccer leagues...which isn't available to most). But yes, most of the funds run by the above people have been making 100%+ for years.
rtchau 7y ago
It's solid. The problem is scaling: if you're betting fixed odds, a lot of bookmakers will limit the amount you can bet, or ban you outright if you're winning too much. If you're into horses and bet into the totes, you run the risk of wildly affecting the pool (and therefore the final payout) if you're throwing huge amounts into it. The only way to really scale it is to bet into pools that are already huge (like Hong Kong - hence why it's such a popular target for the big syndicates).