No fluff, how I made $400,000 betting on sports part-time & why I write software for bettorsJuly 24, 2022
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Learn how to make money sports betting, no fluff. Alex (bio @ bottom) outlines key concepts to become a more profitable sports bettor, such as line shopping and identifying inefficiencies in sports markets in the US.
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Alex graduated from Stanford and previously worked as a quantitative trader on Wall Street. He’s currently the cofounder of OddsJam.
In this video, we discuss that sports betting is a financial market, just like the stock market. Odds are not static and are determined by supply & demand. As new information enters the sports betting ecosystem, odds change. As an example, if Kevin Durant gets injured, the Nets moneyline odds may move from -200 odds to -120 odds, as the Nets are less likely to win the game.
We next outline line shopping and the importance of having multiple sportsbook accounts. Since sportsbooks have different odds, set by independent models, you need multiple accounts to become a profitable sports bettor. As an example, if you are located in New Jersey, you have 15+ bookmakers to choose from; ideally, you have them all. Getting the best odds (e.g. +200 instead of +185) adds up to a lot of money in the long run, as the whole goal as a profitable sports bettor is to identify discrepancies in odds.
We next outline bookmaker limits. Sports betting is not scalable. That is why “professional sports betting” is a career path that attracts 0 smart, technical people. It’s a career path where your earnings are capped. For that reason, you should never, never trust somebody who claims to be a “professional sports bettor.”
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