Since there are a bunch of websites offering paid or free betting tips, it’s tempting for gamblers to invest their money using these tips. After all, all the hard work of studying the games, analyzing the stats and doing the necessary research is already completed by the betting experts. Sports bettors only need to follow their betting advice and bet according to the tips sent to their email address. What’s that, too easy to be true?
The idea of this post first crossed my mind when I read the excellent article by Trent Hamm discussing why he never uses stock market predictions to invest his money. Now you know how I ended up with this post’s title! In summary, Trent claims that if by any chance he had a profitable strategy in stock market, he would no longer be able to get great returns, as soon as he shared his strategy with anyone. He asks his blog’s readers the very common question I usually address to friends:
Why try to make money by selling tips, when you’d make far more money by keeping them to yourselves! Although he refers to investing tips, the same discussion can be made regarding sports betting tips. If you had found a winning betting strategy, would you sell your knowledge instead of actually make money by adopting your own strategy? Why not take advantage of your skill to find value bets and restraint yourself from inviting people to improve their football or horse racing betting?
There is a saying that goes like: if you can’t win, teach. Making money from online betting or gambling in general isn’t for the faint-hearted. On the other hand, making money by selling betting tips is all about marketing. The betting experts just need to persuade people that they are good in tipping winners. A fancy website, a well-designed promo webpage, a couple of testimonials and an impressive ascending Profit & Loss graph are enough to convince desperate gamblers to subscribe to the tipping service.
Of course that is not the whole truth. As Trent mentions in his post, a private hedge fund is far more trustworthy and his second choice after securing his family’s wealth. Obviously a few people will get to know of the fund, since they wouldn’t want to spread the word around and lose their edge. That makes it difficult to find such a fund and be allowed to invest your money. Likewise, there are private groups of sports bettors who don’t welcome newcomers and keep their secret strategies to themselves. They share their knowledge among the group and are able to bet at value odds before bookmakers are forced to change their lines due to the demand. If hundreds of people heard from your tipping service that Arsenal’s odds at 2.50 should have been 1.70 before you placed your bet, you could have trouble finding acceptable odds yourself in a matter of minutes.
I tend to agree with Trent there when he says to avoid falling for people trying to sell investment strategies or tips. Do your homework, study the mathematics behind the game of sports betting and improve your own skill to tip winners. And if your betting tips are unsuccessful, you can always teach people how to do it!