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> It's not that different from "gambling" in the stock market. Would you say that there's a difference in the number of skilled / unskilled market participants

• gas9S9zw3P9c 6y ago
  I think stock market is a vague term. It depends on what "market" you're trading in. If you're trading highly liquid stocks with large market caps you'll be in against large hedge funds employing hundreds of people. If you're trading less liquid stocks, small caps, complex derivatives, or other smaller markets, you may have less competition and it'll be easier to find an edge. I'd say the same is true for betting. Your competition will vary depending on the market size and liquidity. Small unknown markets are typically not worth going after for large teams of highly-paid individuals. For example, you probably won't find as much competition betting on eSports events than betting on horses [0] (in jurisdictions where it's legal). So yeah, I think you're right that the professional competition in betting is probably a lot less than in the stock market. Finding a market with the right characteristics is IMO the most important thing. If you're an individual, you ideally want to find small unknown and relatively illiquid markets where you can make enough money for yourself, but where it's not worth for large players to get into. [0] https://www.bloomberg.com/news/features/2018-05-03/the-gambler-who-cracked-the-horse-racing-code https://www.bloomberg.com/news/features/2018-05-03/the-gambl...