Why Dont more handicappers treat this hobby like an Investment?

tatehill2000 · Apr 21, 2009

I marvel at how uninformed the masses are as to the possibilities of handicapping sports. To be truthful, I am stupified.

I just dont understand why people cant treat this as an Investment? Its really the same Gawdam thing as managing ones OWN IRA?

I guess this thread may be more rhetorical, sooo,, I guess Ignore it if you dont give a shit.

tater

X-Files · Apr 21, 2009

Yes, uninformed, uneducated, blinded by religion {the opiate
of the} masses.

The same goes for other politicly incorrect items like online
legalized sports gambling, prostitution/pooning, MJ, etc

Mr_Mark · Apr 21, 2009

for me it is both, an investment on a hobby

FairWarning · Apr 21, 2009

Wondered the same thing Tater. I think many want to go the tout route.

VIEJODINOSAUR · Apr 21, 2009

I would think this more of a vice than a hobby or an investment...too much risk involved to be an investment...

wilheim · Apr 21, 2009

Where does hadicapping sports and wagering for a living compare to:

Earning a living by any of the methods listed below:

Various forms of Arbitrage
stock market trading
commodities trading
real estate investment
Currency trading (money Market)
Hedge Fund Investments
Bond Market
Investment markets including
Rare Stamps
Coins
Antiques
and many other items

wil.

CalvinTy · Apr 21, 2009

VIEJO DINOSAUR said:
I would think this more of a vice than a hobby or an investment...too much risk involved to be an investment...

Sorry to disagree with you there, VD.

"Too much risk involved to be an investment"... sports betting is an investment that is not measured over 1 bet "win the amount or lose the amount". Of course, one bet has a result of "WIN, LOSE, PUSH/NA" that makes it seem like a big risk as a person could think, "I can lose my money right away with a loss."

But what's the difference between one bet and a scratch of a scratchcard or a bet on RED in roulette? Not much. Heck, it's "50/50" to win a bet, but to win any amount on a scratchcard (even $1) is usually 1 in every 4 or 5 times (20-25%), and selecting RED in American (double-0) roulette is 47.3% (18 out of 38).

If we look at sports betting in terms of 1,000 bets, then it's like investing in a stock market because our goal is to win 53%-55% of time & having bigger wins than losses. While buying a stock appears less of a gamble because there is only 1 time where you can lose your money *ON PAPER* is when the company announces bankruptcy and the stock becomes worthess, but we are STILL gambling on a group of people to perform... just like athletes.

Sometimes the market has good days (+3%), just like sports betting as we have good days going 7-1. How are they different? Nada.

* CalvinTy

whalewager · Apr 21, 2009

not all know how to scalp...

unless you have connections and can beat the screen...

not all know how to get good middles...

SSI · Apr 21, 2009

most dont even have a detailed plan, so failure is certain from the start...

SSI

tatehill2000 · Apr 21, 2009

THanks guys for the responses, Viejo I am kindof suprised your opinion is that negative, I dont know you, but rumor is youve seen it all in this industry. So again it makes me wonder how it is you havent ran into more people that Treat it with more respect. hmmm

calvin and SSI, man, you all feel the same as me, I definately have accounts to goof around with, but my main one, I keep betting 1-2% on mostly Dogs, and creep right along.

oh well,, good luck to all

tater

ParanoidAndroid · Apr 21, 2009

If you're really interested in this, you should read more stuff by guys like Fezzik or Stanford Wong. They definitely treat it like investments, totally detached from the results, play purely on the stats and numbers.

terps1313 · Apr 21, 2009

If you wanna know why the basic public doesn't treat it as investment, it is because they look at sports betting as illegal. As soon as the majority of people hear the word illegal, they assume bad. Most people are brainwashed.

OccamsRazor · Apr 21, 2009

wilheim said:
Earning a living by any of the methods listed below:

Various forms of Arbitrage
stock market trading
commodities trading
real estate investment
Currency trading (money Market)
Hedge Fund Investments
Bond Market
Investment markets including
Rare Stamps
Coins
Antiques
and many other items

wil.

You've touched upon the eternal question, What is the difference between gambling in the Stock market and gambling on Sports. The societal answer is based on morals. Gambling in the stock market benefits society as a whole and is condoned, while gambling on sports primarily benefits only the individual and frowned upon.

If you can make gambling beneficial for the greater good (Church Bingo) then its OK.

Gambling on sports is a moral dilema. Nevada's sports gambling became legal when framed in the context of the better good for society. (Nevadians pay no state income tax, relying instead on gambling proceeds to fund their state) Gambling then is for the better good and no longer a moral dilema in Nevada.

Legalized sports gambling proponents are on the right track. Legalize sports gambling, tax it and Sports betting becomes a better good for all ala gambling in the stock market.

tatehill2000 · Apr 21, 2009

OccamsRazor said:
You've touched upon the eternal question, What is the difference between gambling in the Stock market and gambling on Sports. The societal answer is based on morals. Gambling in the stock market benefits society as a whole and is condoned, while gambling on sports primarily benefits only the individual and frowned upon.

If you can make gambling beneficial for the greater good (Church Bingo) then its OK.

Gambling on sports is a moral dilema. Nevada's sports gambling became legal when framed in the context of the better good for society. (Nevadians pay no state income tax, relying instead on gambling proceeds to fund their state) Gambling then is for the better good and no longer a moral dilema in Nevada.

Legalized sports gambling proponents are on the right track. Legalize sports gambling, tax it and Sports betting becomes a better good for all ala gambling in the stock market.

Well Put Ocams,,, unfortunate truth, but well put and true.

sigh
tater

VIEJODINOSAUR · Apr 21, 2009

tatehill2000 said:
THanks guys for the responses, Viejo I am kindof suprised your opinion is that negative, I dont know you, but rumor is youve seen it all in this industry. So again it makes me wonder how it is you havent ran into more people that Treat it with more respect. hmmm

calvin and SSI, man, you all feel the same as me, I definately have accounts to goof around with, but my main one, I keep betting 1-2% on mostly Dogs, and creep right along.

oh well,, good luck to all

tater

You and Calvin are correct on many counts and not many take gambling as serious as you guys...too many involved with systems and quick schemes that are drilled into many gamblers minds...too many gamblers and not enough investors in this business...some great points made in this thread...

VIEJODINOSAUR · Apr 21, 2009

OccamsRazor said:
You've touched upon the eternal question, What is the difference between gambling in the Stock market and gambling on Sports. The societal answer is based on morals. Gambling in the stock market benefits society as a whole and is condoned, while gambling on sports primarily benefits only the individual and frowned upon.

If you can make gambling beneficial for the greater good (Church Bingo) then its OK.

Gambling on sports is a moral dilema. Nevada's sports gambling became legal when framed in the context of the better good for society. (Nevadians pay no state income tax, relying instead on gambling proceeds to fund their state) Gambling then is for the better good and no longer a moral dilema in Nevada.

Legalized sports gambling proponents are on the right track. Legalize sports gambling, tax it and Sports betting becomes a better good for all ala gambling in the stock market.

You said it way better than I ever could or tryed to convey...nice post :103631605

VIEJODINOSAUR · Apr 21, 2009

Seen some lives ruined and marriages down the drain because of gambling, so I view it more on the non-investment type activity....

Sports betting has come a long way in the past 30 or so years and the education of it to the masses has produced some talented people on the betting side...but still only a handful compared to the percentage of people who gamble...

HawkN-Flight · Apr 21, 2009

When you refer to gambling as a investment. Would you consider this example an a investment. Bet the lakers every game for the whole year.

Would this one apply in the NFL, bet Indy, NE, NYG, Pit every game this year and take + profits at the end of year. Also go against Oak and Det all year.

So basically youve taken the handicapping out of these games and you would be just investing ?

TomGshotput · Apr 21, 2009

After spending a few hours in a casino a woman is certain her husband will disapprove that she lost $500. When they meet up at the end of the night she can't understand why can be so upset with her about losing $500 when he lost $2000. "Because I know what I'm doing," he answered

kidslick · Apr 21, 2009

wilheim said:
Earning a living by any of the methods listed below:

Various forms of Arbitrage
stock market trading
commodities trading
real estate investment
Currency trading (money Market)
Hedge Fund Investments
Bond Market
Investment markets including
Rare Stamps
Coins
Antiques
and many other items

wil.

Many people I know in these avenues of work are shady at best.

I could tell you some horrible stories

Tatehill --- you shoot for the stars like our buddy aka syndicate