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For the most part, if you can make money for other people, you can use that skill set for yourself. Also, if you're somewhere where it's legal or at least acce
by jimz 4y ago
For the most part, if you can make money for other people, you can use that skill set for yourself.
Also, if you're somewhere where it's legal or at least accessible, it's not actually 100% true that at a casino the house always wins. It will take a little bit of effort to get started and you do need a small bit of infrastructure (but a cheap VPS or a SoC would actually do, depending on what you focus on), but it's not only possible, but can be fairly profitable to bet on sports. You do need some money in the bank to start, but there's a fair bit of resources on Github that can help you with data collection, analytics, etc. And places like the sportsbook subreddit or one of many forums out there where you can get a lay of the land.
I have no CS degree, hell, I haven't taken math since I failed AP Stats in 11th grade (tbf my teacher had a stroke in class 3 weeks before the test and died before he got to the hospital and it screwed up everyone and nobody in the class passed since this was just before we could bring cell phones to school, but still, that year was a wash). I haven't taken a formal math class since and I went to 8 more years of school after that. 3.5 years later I'm up 161 units which is just about viable (5%+ ROI is generally considered viable).
It's nice to work from home, hang out with likeminded fans in groupchats and reddit, and watch sports and make money. Now, it is still gambling. I've lost 32 straight picks in a row once - then Brentford beat City and made half of that back. It's not for the faint of heart, but it is a viable option if you are into sports, or statistics, or just hate making front ends as I do. Just don't buy anyone else's picks, they wouldn't be selling picks if they're actually making money.
- bitcoinmoney 4y agoI know Kelly criterion and some bankroll management. Where do I start? Wouldn’t you be banned from bookies if you’re a winning bettor? Or at least get limited? And which bookies to use?
- anony23 4y agoYou will get limited and bankroll management is a nightmare.
- xyzzy_plugh 4y agoThis is my experience. They restrict or ban your account if you win too much in a short amount of time. A retired friend does sports betting as a hobby and is quite good at it, but has been banned from two big name bookies for nothing more than a brief winning streak. No software or analysis, just a sports enthusiast. I totally understand the mentality of folks who sell picks. Especially with all the KYC regulations these days it can be a real slog to keep an account live.
- snyena 4y agoFormer pro bettor here (11 years), Europe based. Yes, you get banned from bookies once they identify you as a sharp punter very quickly.
- DMell 4y agoI've always been curious about building a sports betting process / model as a hobby. Any suggested reading?
- noelsusman 4y ago5% ROI doesn't sound that great? I can get nearly 4% from US treasuries right now, unless I'm misunderstanding you.
- tome 4y agoI guess that means per bet. Whether that's good or not depends on the variance though ...
- moneywoes 4y agoIsn’t sports gambling full of fraud?