Odd Lots How a Professional Sports Bettor Really Makes Money
20 snips
May 27, 2024 
In this conversation, Isaac Rose-Berman, a professional sports gambler and author of the How Gambling Works newsletter, unveils his betting strategies and market insights. He discusses the explosive growth of sports gambling and how mobile betting is transforming the industry. Isaac delves into exotic bets, the art of spotting value, and the challenges bettors face with sportsbooks. He also addresses the societal effects of gambling, particularly on younger audiences, and shares tips for responsible betting amid the changing landscape.
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Sports Betting vs. Casino Games
- Winning in sports betting is possible because odds change dynamically, unlike fixed casino game odds.
- Professional bettors find value bets with higher expected returns than the amount staked, like a coin flip offering $11 for a $10 bet.
Two Ways to Identify Profitable Bets
- Look for mispriced bets across different sportsbooks, capitalizing on discrepancies without needing specialized knowledge.
- Alternatively, develop your own odds model, though harder, it offers potentially greater returns, especially in less liquid markets.
Odds Origins
- Initial odds (like Yankees vs. Mets) originate from market makers who adjust prices based on early bets from informed individuals.
- Derivative bets (e.g., home runs, three-pointers) are generated by third-party providers using models based on those initial odds.