Professional gambling is big business! The author is a former on-course bookmaker, business owner, investor, and partner in a successful betting syndicate.
Before we get into this tutorial, let me say there is no blueprint for success. Professional betting is not one size fits all, and this tutorial does not give all the answers.
PROFESSIONAL GAMBLING IS BIG BUSINESS
INTRODUCTION: PROFESSIONAL GAMBLING IS BIG BUSINESS
Professional gambling is about finding opportunities. The ingredients for success are value odds, adequate betting funds, self-control, and a legal framework.
As with any business, have a plan. Moreover, understand professional gamblers come in all shapes and sizes. On that note:
When someone in Moldova is earning $500 per month from betting, good luck to them. After all, making three times the average national salary is a good starting point! At the other end of the scale, big betting syndicates make millions from gambling.
If anyone tells you professional gambling does not pay, share a story about two premier league football teams. Tony Bloom (Starlizard) and Matthew Benham (Smart Odds) operate successful betting syndicates. For those who don’t know, Bloom is the owner of Brighton football club. Likewise, Benham owns newly promoted Brentford, and Danish Superliga Champions Midtjylland. Benham started his gambling business with a $700K loan, and he’s now worth more than $300 million.
STANDARD METHODS FOR PROFITING FROM BETTING
Below are methods used to profit from betting:
Advantage Takers: Matched betting or bonus abusers. The majority of bookmakers entice new customers with a first time betting bonus. While rollover rules apply, it is still possible to eke out a profit without financial risk. As with supermarket coupons, advantage takers are only interested in giveaways.
Arbitrage players: Also known as odds thieves. If executed correctly, arbitrage betting carries no risk. An example of an arb is an odds of 2.05 on both sides of a coin flip. Placing $100 on each guarantees a profit ($205 return – $200 stakes = +$5).
The biggest challenge for arbitrage players is being allowed to bet. Bookmakers do not like this form of advantage taking! Suffice to say, 3rd-party betting accounts are needed.
For $100-200 dollars per month, odds comparison (data mining) platforms provide arbers with betting opportunities. We know of several who make more than $50K per month.
Value players: This form of gambling is relatively easy to understand, and margins are higher than arbitrage. The reason is not giving value back!
With value betting, we only bet on one side. There is no need to cover your bet.
|Bookmaker||Option A||Option B
In this instance, arbers would bet both A & B, whereas the value player is only interested in option B with W.Hill at odds 2.05. They are out-of-line (1/10 bookies) with the majority, thus creating value!
Calculated Bets: Successful professional gamblers are opinionated, meaning they locate bets. Moreover, many use technology (sports modelling) to find an advantage.
Building networks and paying for betting intelligence is standard. In short, everything has a price (correct odds), and their job is to use superior knowledge.
PLANNING – 10 POINT CHECK
One does not need to be an experienced gambler to make money from betting. However, potential earnings will depend on factors such as:
- Knowledge: The more you learn, the more you will earn! A doctor knows more about medicine than a nurse. The continuation is a nurse knows more than a medic, and so on. It is no different to professional betting in that it is a work in progress.
- Sourcing value: Professional betting is all about finding value and being able to get on. Think long and hard about the logistics of operating betting accounts. The more account options you have, the easier it becomes.
- Funding: I recommend keeping private and betting money separate. Paying yourself a salary is not a problem. However, dipping into the pot without justification is amateurish. Be savvy with money, and it will reward you.
- # bets/staking: Ask yourself, do you planning on making lots of bets or specialising? Consider the numbers, expected odds, and devise a staking plan. As you progress, make readjustments based on data acquired.
- Do the maths: Betting is not an exact science. Nevertheless, when making 100 bets per month, with $100 stakes at a 3% margin, the profit is $300. Making 1000 bets with a $1000 stake at 3% ROI is $30,000 profit. For expectancy purposes, think the numbers through!
- Reality check: Bookmakers do not allow big stakes on low leagues or lesser followed sport. While it is possible to bet $50K on an EPL game, limits depend on the popularity. Getting a 20% margin on low-level handball does not mean a lot if you cannot bet!
- Tools needed: Optimise the betting process by using tools & 3rd party services. In business, everything is about return on investment. Be happy to pay for something that brings a reward. Failing to invest in a project is the same as using a horse to plough the field!
- Sourcing bets: Do not let anyone tell you differently. Professional betting is a numbers game. It is imperative to source reliable information. The more you can handle, the better!
- Leisure accounts limited: A closed betting account is useless. Stake carefully, and do not use easily detected placement bots. Beating the algorithm is a learning process, which is continually changing.
- Network: Brainstorming with like-minded people can be advantageous. Consider knowledge and experience sharing with others. If necessary, start the initiative. Being alone will make life hard.
LOCATION – PROFESSIONAL GAMBLING IS BIG BUSINESS
Gambling is often a postcode lottery. In many jurisdictions betting is not allowed. There are those (Switzerland and Turkey come to mind) that have a state monopoly. In other countries, operators must hold a local license. The UK, Sweden, USA, Netherlands, Spain, and France fit in this category.
In the rules & regulations of every gaming platform, there is a list of restricted countries. Most use Geo-blocking, meaning you will not get access to the website. Nevertheless, it is your job to be informed!
Professional gamblers must consider the logistics of betting. For individuals, that might mean moving to a gaming-friendly jurisdiction. Malta works for some, and there are other alternatives. However, for the real players, it is possible to find loopholes!
Did you know many betting syndicates have set-ups in the UK? Consequently, the operation centres are in London, but the betting takes place in other countries. The legal loophole is employing bet placement services in Asia.
FINANCIAL OBLIGATIONS – PROFESSIONAL GAMBLING IS BIG BUSINESS
In the UK, punters are not subject to tax on betting gains. With that said, most syndicates are Limited Companies. They operate like any other UK business, meaning they pay company taxes. Employee’s do the same, and everything is in place for a proper audit!
Other countries are different, and it is your job to understand obligations. If you are making a big chunk of money from gambling, it needs to be legal. At some stage, banks and authorities will ask questions about this income.
I have spent a fortune on obtaining written legal (lawyer’s) opinions. My advice to any serious business is to do the same. Be ready for any eventuality or legal challenge.
Traditionally speaking, banks do not like gambling. While the occasional transfer to and from a bookmaker isn’t an issue, it can become one. Many bank accounts have been closed because the customer can’t explain the source of funds. Until you have a legal structure in place, keep transactions to a minimum. If possible, use e-wallets to move funds around, and have a legal argument at the ready.
PROFESSIONAL GAMBLING IS BIG BUSINESS – CONSULTANCY SERVICE
Most betting operations are legalised and structured. However, some will be new in the league, and they might not have followed the best practice. If you fit into that category and are ready to dip a hand into your pocket, let us talk. For one-to-one consultancy, drop a mail to Admin@betting-analyst.com
In the meantime, let us talk technology:
USING TECHNOLOGY FOR EFFICIENCY
Building technology will streamline operations! For example;
- Crawlers: The purpose is to extract web data from different platforms on a big scale. The method used to scan or crawl through web pages is known as web crawling or spidering. With regards to betting, a crawler gathers information from bookmaker platforms. Having a live feed of odds is a must for value-betting.
- Predator bots: Anticipating the movement of betting lines is imperative to the success of any betting syndicate. Predator bots can detect “icebergs”. The idea is to buy low and sell high.
- Scrapers: A scraper can automate picks or track odds. They can be used (bots) for bet placement because they are quicker & more efficient than the human eye.
- Predictive modelling: Top bookmakers use predictive models to make betting lines. Football clubs use data to improve performance. Professional gamblers use the same to find a betting edge.
We wrote a separate tutorial on the subject: Using Technology To Find High-Value Bets.
HOW TO SOURCE VALUE
In professional betting, every pip counts, and obtaining maximum odds is the challenge. If you have value betting accounts, technology can help find the best odds:
- Betting Platforms: Most betting agents offer clients single click multiple bookmaker platforms. These are Asian handicap specialists with dynamic odds, meaning lines move according to the weight of money being bet. By having access to bookmakers through a single platform, professional gamblers can squeeze the juice (reduce margins) and increase betting limits.
- Betting Broker: Betting syndicates use third-party bet placers. It works like the stock exchange. The bettor gives an order, and the broker places the bet. If you are going to take this route, be aware that agents copy clients. Also, it is your job to keep them honest by watching the betting market and making sure you get the best odds.
- Soft Bookmaker accounts: Leisure bookmakers use risk managers to stop winners. Nevertheless, it does not deter value and arbitrage players from opening multiple third-party accounts. The challenge is extracting the maximum winnings from each account.
- Betting Exchanges: While they do not like traders (thieves), professional gamblers are welcome on most betting exchanges. The best known, Betfair, quotes commission rates of 5%. However, many pro’s are paying just 1.7% commission. That is less than brokers will offer (3%), but only if you can convince the premium account manager.
FOOTBALL PLAYERS EARNINGS vs PROFESSIONAL GAMBLERS
There is a parallel between football players and professional punters. According to research, national league players average £20K to £50K per annum. 2nd League players average around £120K, 1st League £240K, Championship £800K and then comes the Premier league at £2M. Top players, Gareth Bale £31.2M, David De Gea £20M, Kevin De Bruyne £17M earn substantially more. On top of those salaries are performance-related bonuses and endorsements!
In professional gambling, many are making an extra few hundred £ (pounds) from advantage taking.
Individuals with a bit of knowledge can earn £50 to £250K per year, while those making a career out of gambling are at £1M+ per year.
Then come betting syndicates, where key employees are earning £500-£1M per year. For the record, Starlizard makes north of £120 million per year!
Are you ready to become the next big winner?
PROFESSIONAL COACHING OFFER
Want to learn how to beat the bookies and profit from betting? If you are serious about winning, our one-on-one professional coaching will help you succeed. Moreover, we have taught people to win millions from bookmakers, and our service is available to all levels. Whether you are a beginner or a highly efficient betting syndicate, we are here to help. When you are ready to take your betting to the next level, get in touch for terms – email@example.com