Sports Arbitrage Betting
Anyone involved in sports arbitrage betting? What are your thoughts on it... Seems pretty easy to make $ just done a little reading..I definitely want to pick up a few books before getting involved. Any comments appreciated
You'll almost never find lines wide enough to allow for pure arbitrage. The best you'll ever get is a middle opportunity which is profitable but hugely variable. (I.e. you can bet +5 and -4 at -110, so if you hit 5 or 4 you get a free roll, sort of.) And even those are rare and don't scale well.
Sportsbooks are allowed to cancel bets for any reason. So when you do find the +101, +103 arb opportunity and hammer the hell out of it, the +101 guys will adjust their line to -105 and cancel all +101 bets, leaving you with a huge directional position.
there are opportunities for sure, definitely gotta keep a constant eye... a friend developed an algo platform to trade it... pretty sick
If you're really into this, go set up shop in Vegas and arb the differences between bodog and the in person betting from bookies. You'd be surprised how well that can work out.
I do that. It's "algo", obviously. I don't understand how anyone can hope to manually make a profit. It's pretty tough out there, you've got professionals.
Also, the online books take ~10% rake, dunno what it is in Vegas. That's pretty hard to overcome when you're hoping for a small range of outcomes to make money
Sports betting (Originally Posted: 04/10/2007)
What's the most any of you guys ever made betting on sports?
I was up £5 in my "career" (2 years) until last week. Now I've come up with an interesting strategy, and I'm up £15. I'm pretty happy with that....can you tell I don't bet more than I can afford to lose? =)
I bet on the Australia-Uruguya World Cup Qualifer and got 600. I bet the score would be 2-1.
Don't ask me why I did this, I hedged with a 2-0 or 3-1 as well, limiting loss. I knew Australia would win, just not the exact score.
I paid the players. LOL
What were the odds?
Won my NCAA pool, got 550 bucks.
Technical Sports Betting, thoughts? (Originally Posted: 09/13/2011)
So I do a lot of sports betting, but I use a very mathematical and almost technical analysis in doing it. I don't bet on just games I like. I use momentum, steam, as well as a variety of other tools, and I have generated decent returns in the past year doing so.
Is this something I should list under my skills and interests section of my resume? Tons of people list poker (including me) so I'm curious if this is okay as well.
Definitely.
Everything will help. Sports betting is very similar to option trading since the Intrinsic volatility built into the option is similar to the spread in a sports bet. You will also get a good feel for statistics and not winning everything but focusing on gaining a slight edge.
I would list it, but realize it is possible that the illegality of it may turn some people off.
On a much more important note, do you care to share any of your betting ideas? I've bet games for a little while and I'm getting interested in being more technical about it. Just yesterday, I started building a simple pricing model in an effort to understand it better and learn more how to manipulate the lines.
Appreciate the help guys. Yeah I'd be fine to, if you have any questions PM me.
Online Sports Gambling (Originally Posted: 09/11/2008)
There are more than a few of these services (Bodoglife, betus.com, bookmaker.com) available, but they all seem more than a bit sketchy. Does anybody have experience with a specific site they have found reliable as far as cash payouts and whatnot? NFL season is here and I need some entertainment.
i am up 18k on bodog since 5/1. i have cashed out a few times.
I would probably avoid Bodog for the time being. The government is out to make an example of Calvin Ayre and have been putting the pressure on them. The Vancouver office just laid off close to their entire office. You'll still get your payouts at this point, but people have been reporting delays close to a month.
I consulted betus for a couple of months and they're a fairly good operation that stays under the radar. Go through the landing pages they have (http://www.betus.com/promo/football/getmore/) to take advantage of the bonuses.
You're going to find sketchiness on most sites due to the US's draconian online gambling laws, but they're mostly pretty decent. There are a ton of review sites out there as well, but keep in mind that they are mostly just giant affiliate portals - they don't care where you go as long as you make a deposit.
I used sportsbook.com for a while last year with no problems
I've never had a problem getting paid, and they offer a HUGE array of betting options including futures like presidential elections and American Idol-type shit if you're into that.
http://www.intertops.com
Thanks, I've seen quite a few of these before, but it's nice to hear some personal experiences.
Re-Branding Sports Betting as some sort of a Fund or Invest/Trading related experience?? (Originally Posted: 03/09/2010)
Ok, long story short:
ultimate goal: (flow) trading at BB IB
me and some friends have thrown some money together and bet on sports (soccer mainly) and we've actually turned a few hundred into a few grand
how spin this experience into something i can put on my resume? give the fund a name etc?
Interesting idea. I remember years back a firm did something similar with lottery tickets. Would get enough people together and play every combination possible. I believe a lot of places added an extra ball because if this.
I would probably just talk about it as is. If you try and make it sound too non gambling anyone hearing you might think you are scamming people or something. Interesting idea though.
give the fund a name? I would not call your sports betting Oaktree Capital Management, L.P. or anything
I like to bet on sports but I find what your proposing pretty ridiculous. Sports betting has nothing to do with trading or finance in my opinion.
Your gambling PnL is not something I would put on a resume. Sorry to shoot down your idea but that's how I feel.
Leave it off the resume. I had a similar experience of turning a few hundred into several thousand by ticket scalping. Unfortunately, it'd probably be seen as more of a red flag than anything else. HR might see this as making you a risky candidate. If hiring you doesn't go well, people will come back and blame HR for hiring the guy with gambling on his resume.
A lot of time, people in charge of hiring look for the LEAST risky candidate. Its ok to have non-traditional things on your resume, but only to an extent.
Agree with the above comments. While it is a neat claim to stake, this success is uncorrelated to financial markets. They don't operate in a similar fashion.
sports betting relies on non-public information and intuition. just like financial markets, if you know an acquisition is in the making, (non-public information) of course you make a profit. but its not allowed in the financial markets
There IS a lot of strategy involved in sports betting if you know what you are doing and there are some great arbitrage/hedging opportunities as well, however, gambling is always a touchy thing to put on the resume, and if the traders on here are telling you to leave it off, then I would leave it off.
Sports Betting (Originally Posted: 05/20/2012)
So I started betting on sports recently, and after about a month I'm basically even. I was wondering how many of you like to bet sports, and if it is possible to actually make any money doing it. Or am I just another sucker paying my bookie's salary?
Put all your money on the Pacers and leverage it x10, you'll make a killing off the miami fanboys and LBJ dickriders
you better ask this guy. I am sure he knows what he's doing.
I did it, I made a lot of money. Stick with college sports, and the smaller conferences. The bookies don't have to get the spreads as perfect as the games with heavier action. I also found a system that went went back 10 years for MLB that made money. It's probably just a dumb coincidence. I haven't bet since the Super Bowl, but Ill go back to sports betting when I have time.
Guy I work with bets oretty huge size on sports and will be leaving the firm to do it full time. You can definitely make money but its much more about the underlying math than it is about making money on the actual sporting events ie betting on multiple books so you can take advantage of multiple lines, etc. He actually bets with 2 other guys who have already left finance to do this and they live overseas in order to increase the number of books they have access to.
I'll be at the Belmont Stakes letting it ride on "I'll Have Another". I fell for that horse at 13-1 at the Derby and he doesn't get half as much respect as "Big Brown" did when he was going for the Triple Crown. In general I bet football (college and pro) and most playoff action.
If a game or match is worth watching, I'll make it more fun by betting on it. We're not talking big sums here, just enough to pay for the beer and chips.
What I bet on: NFL NHL (I always bet against my team; Preds) MLB (only World Series) Soccer games, World Cup, European Championship, etc. College football and basketball UFC and other MMA events
weren't the preds really good this year?
what are the best books and which have the best payout policies?
i bet on baseball. got drafted straight outta high school in2 the majors but shattered my shoulda in a brawl after a freestyle battle. got booed off stage, i started dissin the crowd. shitted on 'em real good called 'em week bishes so they all mobbed me, hunnits of them rushed me at once beet me 2 pieces, ashamed 2 admit it tbh. with my career in the majors ova b4 it started, i turned 2 music full time as my refuge, mastered the beetz and conquered the mic. started my own label and it all worked out.
but yeah, i bet on MLB. go Cardz. also i collect and trade MLB cardz. its my side hustle, PM 2 buy/trade
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