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Author: [Gaming Industry - US] Topic: Advice on starting up Profession Sports Betting
Johnnybad send a private message View Space | Blog | Friends | Playbook |
Johnnybad
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#1
Posted: 9/22/2011 3:27:22 PM

I'm going to attempt for the first time to make a living off sports betting. I know I have the ability based on my years of experience and my stats history (not my stats on covers). I am a US player looking to bet on-line and I will only have an initial bankroll of $2500-$3000. I plan on placing initial bets around 2%-7% ($20-$70 units) and then chasing my losses (Chasing bets). I'm looking for a little advice from successful professional full time handicapper (which I'll be lucky to find on any covers forum). My goal is to clear $250 a week in the beginning. Here are so questions I have:

What is the best online sportsbook that still is taking bets from US players?

With only a $2500-$3000 on a chasing bets system should I split my bankroll up over several sportsbooks to find the best lines or just stick with one good book?

I'm planning on making at weekly cashouts; which sportsbook would be the most cost effective for weekly withdrawls?

Would anyone advice moving to Las Vegas in order to place bets in Casino's and avoid the hassles of financial transactions via offshore sportsbooks?

BTW: I'm not looking for a lecture on chasing bets. Thanks

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kaponofor3 send a private message View Space | Blog | Friends | Playbook |
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#2
Posted: 9/22/2011 4:39:38 PM
With all due respect friend, if you have an initial bankroll of $2,500 - $3,000, and you intend to play online, you are absolutely doomed to fail if you intend to make sports wagering your primary source of income. Not trying to be a downer, just being objective.

You may not be looking for a lecture on chasing bets -- but the mere fact you are saying that means you are not ready to be a professional at this.

Professionals don't chase. PERIOD.

How are you going to live on $12,000 a year if you do hit your goal of clearing $250/week in the beginning? Have you taken into consideration the difficulty in getting your money back from the sportsbook if you win?

You can make weekly cashouts all you want. You'll be waiting months for payment depending on the books you use.

The only way I would advise moving to Vegas to do it professionally is if -- no joke -- someone had probably 20 times the initially starting bankroll that you have.
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Johnnybad send a private message View Space | Blog | Friends | Playbook |
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#3
Posted: 9/22/2011 10:54:01 PM
Kaponofor3,

I appreciate your advice and I agree with you on two of the points you made. Your right about having to wait for online payouts.

Do you have any suggestions for a online book without that hassle that makes timely transactions for US players?

I agree I don't have the capital to uproot and move to Vegas.

You stated " I'm doomed if sports betting online is my only primary source of profits" I honesty was thinking about starting a telemarketing business because the truth is that I have about $10,000 to invest. But I honesty believe sports betting will be less of a hassle and less of a gamble concerning my handicaping abilities. I also have made money playing ABC online poker at several low limit tables simultaneous (averaged $10hr at 10 cent tables). I'm also savvy with the stock market as well. Please expand on your statement.

To address your question about living on $250 a week: I would be happy to start out making that doing something I love ( which is essentially a 40hr minimum wage week) which I know would snowball over time into higher profits if successful.

I'm not going to address chasing bets because that's to wordy of a conversion and I sense we aren't going to come to an agreement on that topic. I could explain multiple chase betting systems with you that the bookmakers absolutly despise but you have to be careful what you say on covers. My best friend is a partner for a well know offshore sportsbook and he told me they will stop taking bets from the betting sharks who Chase. He told me that the top 10% of professional sports bettors chase bets. The majority of people tell you not to because they don't know how to do it successfully or they work for the bookies and don't want you to win over time.

Please advice. I appreciate your feedback :$
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FranklinQ11128 send a private message View Space | Friends | Playbook |
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#4
Posted: 9/23/2011 1:56:14 AM
QUOTE Originally Posted by Johnnybad:

Would anyone advice moving to Las Vegas in order to place bets in Casino's and avoid the hassles of financial transactions via offshore sportsbooks?



Yes, move to Las Vegas for that.  It's a lot better for you if that's your plan.
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Johnnybad send a private message View Space | Blog | Friends | Playbook |
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#5
Posted: 9/23/2011 8:03:18 AM
Quote Yes, move to Las Vegas for that. It's a lot better for you if that's your plan.

I think that's good advice. Boy is my girlfriend going to be upset when I tell her I moving to Las Vegas. Especially since she is the one giving me the $3000 bankroll. My mother just passed away so there is really no reason for me to stay in Florida. Viva Las Vegas!
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kaponofor3 send a private message View Space | Blog | Friends | Playbook |
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#6
Posted: 9/23/2011 10:03:18 AM
"Do you have any suggestions for a online book without that hassle that makes timely transactions for US players?"

No. I mean my experience is somewhat limited cause I've used a local for a good period of time, but if you are planning on relying on this $3,000 bankroll -- which I hope you understand is still FAR too low if you plan on doing this professionally, please understand that -- do not plan around have easy access to moving that money off shore easily. I'd recommend stable books like Bookmaker and 5dimes if you want to do it offshore. To me, those are the only two safe ones that I would trust that I have used.

"You stated " I'm doomed if sports betting online is my only primary source of profits" I honesty was thinking about starting a telemarketing business because the truth is that I have about $10,000 to invest. But I honesty believe sports betting will be less of a hassle and less of a gamble concerning my handicaping abilities. I also have made money playing ABC online poker at several low limit tables simultaneous (averaged $10hr at 10 cent tables). I'm also savvy with the stock market as well. Please expand on your statement."

So wait, you have $10,000 to invest, but you are relying on your girlfriend to provide you with a $3,000 bankroll? Things don't add up here man. Hard to do online poker for supplemental income now in the aftermath of FTP and imagine your money is actually safe.

I meant that if your bankroll is only $3,000, you will never successfully be a professional if you are only looking to play offshore.

"To address your question about living on $250 a week: I would be happy to start out making that doing something I love ( which is essentially a 40hr minimum wage week) which I know would snowball over time into higher profits if successful."

Jobs are not exactly that easy to find right now, and I believe that Las Vegas isn't exactly the greatest job market right now.

"I'm not going to address chasing bets because that's to wordy of a conversion and I sense we aren't going to come to an agreement on that topic. I could explain multiple chase betting systems with you that the bookmakers absolutly despise but you have to be careful what you say on covers. My best friend is a partner for a well know offshore sportsbook and he told me they will stop taking bets from the betting sharks who Chase. He told me that the top 10% of professional sports bettors chase bets. The majority of people tell you not to because they don't know how to do it successfully or they work for the bookies and don't want you to win over time."

With all due respect, you are wrong, your friend is wrong or lying to you. I have never heard a professional bettor who I respect say that they would recommend any sort of chasing system. At all.

Have you ever wondered why people tell you the bookmakers despise these chase systems? Do you think maybe, just maybe, that person is lying to you (remember, they work for bookmakers or offshore outfits) and that books actually LOVE chase systems because there is no way to win longterm with chase systems?

I mean this as kindly as I can, Johnny -- please don't take offense. If you are at the point in your gambling career where you believe that chase systems are the answer, you are not ready to be a "professional" bettor, you are not ready to move to Vegas, you are not sophisticated enough to be disciplined to do this correctly.


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fsutomahawk send a private message View Space | Friends | Playbook |
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#7
Posted: 9/23/2011 12:21:07 PM
I agree with Kapono here. If you were starting with a 2500-3000 dollar bankroll and doing a slow build then you could be fine in four to five years trying to eek out a living doing this with a built up bankroll. If you are trying to do a chase system with that low of a bankroll, or any for that matter you are NEVER going to be able to make any substantial money betting sports. If you really want to make money doing this just stay patient and build up your bankroll.
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feltedsoon send a private message View Space | Friends | Playbook |
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#8
Posted: 9/26/2011 8:34:17 PM
HOW DO YOU LIVE ON 250 A WEEK? FOOD, RENT ETC. ETC. GOOD LUCK ? MAYBE YOU SHOULD JUST LOOK INTO A JOB?
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billymac27 send a private message View Space | Friends | Playbook |
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#9
Posted: 9/27/2011 4:17:48 PM
Johnny,  is that pic your girlfriend? If so, please leave her in Florida and I'll look after her.
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eliminat0r85 send a private message View Space | Friends | Playbook |
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#10
Posted: 9/29/2011 6:40:17 AM
I'm not advocating the use of chase systems by any means but chase systems can net you a profit however this is not something most accomplish because there chase systems are flawed. If you have the discipline to do a proper chase then you could make some money however most dont have will chase a dog garbage road dog on a 6 game losing streak 4 times and lose big time.

Also i second what everyone else says you do not have a big enough investment and i dont think you understand how long it takes before the money that you win from your book is money that you can use. Not to mention the repercussions of going to WU weekly. If you do check you have to wait for the check then you deposit the check in the atm then you have to wait for the check to clear. Whole process takes about a week sometimes more. Average time for delivery is 4 days, some banks hold the check to make sure it clears before they credit you some holds could be 7 days.

Also 250 a week isnt anything, do you live at home, who is gonna support you til this system pays off?
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vanzack send a private message View Space | Blog | Friends | Playbook | My Sportsbook: Pinnacle Sports |
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#11
Posted: 9/29/2011 9:07:32 AM

1.  Your goal is to make 10% of your bankroll per WEEK.  I thought long and hard to write something intelligent here, but I doubt you will listen anyway - so here is the only thing I can come up with taht maybe you will listen to - you are a moron.

Your goal is to make 500% on your money in a year.  Jeesh.  Listen to yourself.

If I take your avg stated unit of say $50, at a 60% capper (which you are not), and standard juice, you would have to make 30 wagers per week.  More realistically, if you are a 54% capper, it would take 120 wagers.

2.  The only books an American should bet at are 5dimes and Bookmaker.  Period.  And even those could go under at any time on any day.

3.  Transaction costs.  To get a 250 weekly check will cost you 40 bucks on avg.  Buld taht in to your cost model.

4.  Last but not  least, your idea of a chase system.  Look - you might be able to fool yourself, or other people - but you cant fool math.  Here is the one thing you need to read again and again - THERE IS NO MATHEMATICAL EDGE OR DISADVANTAGE TO A CHASE SYSTEM.  Read it again.

Every game is an individual event.  The size of you wager has no affect on the result of that event.  It is independent.

The downside to a chase system is that most people go broke because of the exponential nature of the wager size, so they either run out of bankroll or hit book limits.

People who tell you that chase systems work, or bookies fear chase systems - are either as dumb as you or have an alterior motive.

Now - before you get offended with all of this - just prove me wrong.  Tell me why a bookie would fear any chase system - or why you somehow get a mathematical edge from doing it.

The only good thing about your whole plan is a ridiculously low investment, and that you will only lose 3k.   You are very naive - to the point of laughable - but in the context of the average covers poster I would say Im not surprised.

Good luck.
I will be watching this system closely.

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#12
Posted: 9/29/2011 9:44:41 AM
QUOTE Originally Posted by vanzack:

Your goal is to make 500% on your money in a year.  Jeesh.  Listen to yourself.

This is me a year ago with 30k bankroll. Writing down every bet religiously. Spending 14 hours a day snooping out best bets and losing 55% of them.

The plan was to only make like 50% in a year. Maybe if OP runs 5-10 times better than I did at that point, his 3k will last a full hockey season.

Maybe not.

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#13
Posted: 9/30/2011 6:17:10 AM
I can't be the only one thinking this is a hoax, can I? No one can be this moronic.
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#14
Posted: 9/30/2011 12:33:41 PM

JOHNNYBAD,   HEY BUDDY DON'T WANT TO BURST YOUR BUBBLE BUT WITH JUST $3000 THERE'S NO WAY IN HELL YOUR GOING TO SURVIVE IN VEGAS. IT'S GONNA COST YA AT LEAST 2 DIMES THE 1ST MONTH IN JUST EXPENSES IF YOU WANT TO LIVE IN A HALF-WAY DECENT PLACE , BESIDES THAT KNOWING WHERE TO PLACE YOUR BETS(STAY AWAY FROM STRIP) LOCAL JOINTS ARE THE BEST PLACES...BUT YOUR ONLY KIDDING YOURSELF BY GOING CROSS-COUNTRY TO A NEW ENVIRONMENT WITH JUST 3 DIMES............

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#15
Posted: 9/30/2011 2:37:44 PM

Well Johnny all i can say is this. If everyone in the world listen to everyone that said they couldn't do something or that something has no way of working, then this country would be a much more shittier place to live in. Truth is, the advice you're getting from most in here are what happens to the norm. But we forget we live in a society where many people buck the norm and thrieve everyday.Sometimes you have to find out on your own and learn from your mistakes. No one can tell me that there isn't one professional gambler who never chases. Maybe  it's not the norm, and also I think chasing really needs to be definied. Chasing for most is betting on the next availble game. Chasing to you may be doubling up on your next strong game. Most gamblers have to hit the very next action and that type of chasing will burrying you. I know a guy who does very well by doubling his losses on his next strong play, but this guy can also wait3 or 4 days til that strong play comes around. It's all about what works for you. You may be that very few unconventional gamblers that can have success. Basically I'm just saying you'll never know until you step out and try it and then try and figure it out. You can't succeed if you're afraid to fail. And one last thing for this forum, the man asked for some advice, no matter what your opinion is, it's hard for a man to listen and take advice from people who call him out of his name. Vanzack, I read what you had to say and agreed with alot, but lost alot of respect for you when you siad the person must be as dumb as he is. Seriously there's no reason to call this man dumb. How does his simple question turn into being called dumb? But BOL

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#16
Posted: 10/1/2011 11:49:35 PM
LOL did this guy really claim hes going to "live" off of 250 bucks a week. My rent is far more than 1,000 bucks a month much less being able to live off of it.

Second, as you said lets throw out the idea whether or not chase systems work. Even if they DO work 3K is no where near enough money to successful handle one.

You can absolutely live off of sports betting. However, you can't do it with a 3K bankroll and online sports books.

Why don't you move to Vegas get a a job and bet on the side. I can't imagine you are really doing enough to warrant gambling being a full time job considering your thinking you can live off of 250 a week.
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penzfan17 send a private message View Space | Blog | Friends | Playbook | My Sportsbook: 5Dimes |
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#17
Posted: 10/1/2011 11:57:53 PM
living on 250 a week 
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bigbill365 send a private message View Space | Blog | Friends | Playbook | My Sportsbook: Bellagio |
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#18
Posted: 10/2/2011 12:26:51 AM
you can do it u would prob want to make a couple $500 doller bets to get your bankroll up a little then i think making a profit of $250-$500 a week would be managable
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#19
Posted: 10/2/2011 5:01:39 AM
QUOTE Originally Posted by bigbill365:

you can do it u would prob want to make a couple $500 doller bets to get your bankroll up a little then i think making a profit of $250-$500 a week would be managable

Why not a couple $500 bets, and then a couple $2000 bets? 

This would allow him to make 4x ROI in teh long run baby!
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