Billy Walters – The Warren Buffett of Sports Betting Markets

Vegas used to be filled with rumours of a man or group of men – nobody really knew the specifics – that was said to be feared by Vegas bookmakers. This team beat the spread in sporting events as a matter of course, and were wealthy beyond comprehension as a result. In the world of sports gambling, these guys had discovered the Holy Grail. They mystery that surrounded these mystery men made them the whole story so much more intriguing.

That was, until the mystery man was unmasked as Billy Walters, a lifelong gambler and successful investor – and a very wealthy one at that.

Walters’ operation was first disclosed in a book called “The Smart Money” – By Michael Konik. In the book a pseudonym was used for Walters, and the author accounts his experiences running money around Vegas for Walters, betting with the aid of cell phones and walkie talkies, and subsequently getting banned when the sportsbooks discover that the teams and games he is betting are a bit fishy. Understandable, when these games are the hottest syndicate games bet all around Vegas by Walters and his teams of “runners”.

Walters was further introduced to the non-betting public through a story on 60 minutes in January 2011. It is a fascinating interview for both betting and non-betting types, as Walters is a charismatic, raskal type, and 60 minutes do a fantastic job of educating the lay-person in what sportsbetting is and how Walters and his team make money from it.

For sportsbetting fans, this interview is riveting. The seriousness with which Walters and his team attacks sports wagering is impressive and it is clear that huge amounts of money are at stake. Walters moves on his sports teams like a hedge-fund trader moves on a stock at the open of a day’s trading – betting to the house limit when he finds an attractive proposition. The team assembled around this betting operation is vast, runners have codenames and large cash on hand to bet in person at the sportsbook window, and Walters monitors all of these bets and amounts on a computer set-up that has all too many similarities to a hedge-fund manager or a stockbroker at the New York Stock Exchange.

Interestingly, Walters claims that Wall Street types have more to hide and are bigger thieves that those people that he has run into in the gambling world.

Walters was rather secretive about the individuals he has working with him. He claimed to not know the real name of his runners – that may indeed be the case – but he was particularly elusive about the advisors and “brains” behind his brains trust. One individual in particular was a ‘rain-man’ type of intellectual who has an encyclopedic knowledge of college teams and players. Walters reports that this man possessed a brilliant ability to forecast games because of this.

Betting men and women would be well served by watching the interview with Walters, and reading Michael Konik’s “Smart Money”, should they wish to know more about this fascinating character.

Online Betting Sites For Sports Betting

Revolution in technology has positively set its benchmark on today’s generation. With the help of the latest hi-tech improvement in technology, all things have been made more handy to use and easily available. Among all technical innovations one of the best and hi-tech innovations is the computer. Computers are very useful to do research job as well as for leisure also. With the help of computer you can read and download books online. Searching for a job and long distance communication is now much easier because of the internet use. Not only this, computer is a resource of earning money for some people.

Amongst all use of computers one of the most popular uses of the computer is online gaming. The internet offers different websites for people to visit and take part to play online games. Individuals who are interested in sports betting, regularly search and visit different online sports betting sites for their bets.

Betting sites provide opportunities in which an individual bets on any sports team in any type of team game and deposits money on that particular sports team. If the team on which that individual has bet the money is the winning team, then he will get his cash return plus additional money as earnings. But if the team loses the game, then the individual loses his betting cash and will also not get any additional bonus money. This gaming process is very easy and has no complications.

Generally, public gambling on sports goes to a betting house where all bets are placed. But now, with the help of the computer and internet, there are many reputable online sports betting sites that are easily accessible. There are lots of online sports betting sites such as ukash betting sites, bet365 betting site which have gained the trust of those sports betting buffs and are now counted as one of the best.

While looking for online betting websites, one should be patient and broad minded because one betting website may present similar offers as another website and have better payback cash on betting games. Keeping track of the websites that one visited and found the offers there better when compared to other online betting websites and thinking about the helpful and harmful side, can help to accumulate or to make a better deal.

To assist one while selecting which online sports betting websites are trustworthy and secure to play, certain principles must be checked while searching them out. First issue that one must check is that the website is legal or not, most of the betting sites are legal but there is no damage in checking again.

There are various online betting sites available in cyber space which can surely help gambling lovers to bet on their favorite sports team. These online beating websites can be accessed from anywhere with the help of computer. Also these online betting websites deal with almost all type of sports right from the NBA, Formula 1, NFL, NASCAR, horse racing and of course the MLB or Major League Baseball, America’s number 1 sports game.

How to Profit From Sports Gambling

The goal for sports punters is to earn a profit whilst enjoying our favourite sport. The sad truth is that for the majority of gamblers, this is an elusive dream. However by developing and carefully following a stratagem anyone can make this dream a reality.

There are two factors to consider to profit from sports gambling:

  • Bet Selection
  • Staking Plan

Bet Selection

The first, Bet Selection, is obvious – we need to back winners at least some of the time. Let’s consider Horse Racing, anecdotally there are many professional punters who earn a comfortable living from picking horses, but the key word here is professional. Research and analysis of each horse in the 59 racecourses across the UK takes a sizeable amount of time and experience. If you want to be successful then it’s a full time job! For the majority of us this means we have to use the advice of experts to do some of the legwork for us.

Horse Racing Tipsters

UK horse racing has no end of self-proclaimed “experts” on the Internet charging up to £100 per month. When selecting a horse racing tipster the most important factor we need to consider is long term results.

The Internet is awash with tipsters who have had one good month but then go on to post a loss for the next six – but you will only see this one month on their home page! Never follow any tips without first checking the tipster’s full result history. Choose a tipster who publishes all their horse racing tips history, ideally where the results of the tips are published the next day along with a complete history of all their tips.

Take a look at a Tipster Proofing site such as Racing-Index who grades the results for a number of tipsters. Consider which tipster gives you gave for money and fits with your own betting profile – can you actually place the 100s of tips each month some tipsters require?

Following tipsters alone is not likely to earn us riches – the best tipsters are locked out for new members or charge such high rates that any profits are lost immediately. The solution is to develop our own system using tips from expert sources combined with our own research. This is the strategy successfully used in greyhound racing by followers of the site. As with most things; the more you put into your system the more you will get out.

Staking Plan

Once we have a betting strategy in place it is time to look at a staking plan. The simplest is Fixed or Level Stakes where we simply bet the same amount, for instance 2% of our initial betting bank, each time on our selected horse, however we would want to increase our wagers as our betting bank grows. This leads to Percentage Staking where a percentage of the current betting bank is wagered each time. This means as we win our stakes are larger and conversely the stakes shrink when the betting bank decreases.

However, intuitively we know these staking plans to be overly naive as we would be putting the same amount of money on a horse with low odds compared to a horse with high odds. As we are looking to maximise our profits we should be putting a larger stake on a low odds bet as the return will be less.

To find the optimal staking plan we could take a correspondence course in statistics and dedicate several years into research. Fortunately we live in age where this research is at our fingertips. From probability theory we have the Kelly Strategy where the optimal percentage of our betting bank is calculated from the odds of the bet and our own estimate of the probability of the horse winning.

Using an online Kelly Strategy Calculator just feed in the values to get the percentage of the betting bank to put on each horse. Now the Kelly Strategy can give us some scary percentage stakes if we have an initial run of high odds horses so we could adapt it to a Half Kelly Staking Plan where we wager half the percentage advised by the Kelly Strategy. This would result in a slower accumulation of gambling profits but a less hair-raising ride.

The most important sports gambling advice to heed is only bet with funds you can afford to lose. Always gamble responsibly – if you feel you need help and advice with problem gambling visit http://www.gambleaware.co.uk.

Online Sports Betting – Weigh Your Options

There are two kinds of sports enthusiasts; those who go out there and actively participate in sports. Others sit in front of their television sets and get their dose of action. But somewhere in between on the blurry line stand sports lovers who make it their business to profit through their understanding and knowledge of a certain sport. After all, every sports fan thinks he can do a better job than his favorite team’s captain or marshal his resources better than the coach. So why not prove it and make some bucks through Online Sports Betting?

But like any sports action full of thrills and edge of the seat excitement isn’t for a week hearted fan, Online Sports Betting isn’t for faint hearted either. You might think you know best about your favorite sport, but things might not go your way on a given day. Like on sports field when overwhelming favorites get knocked out. So always weigh your options carefully before placing your bets and remember false bravado won’t get you anywhere.

If you are in America, you’d probably want to bet on your favorite sports like Basketball, American Football etc. The basic principles for online betting, be it American Basketball Betting or American Football Betting, remain the same. Your job is to beat the oddsmaker and make some money, while in the process you can have some fun as well.

There are different types of bets you can make and there are variations of these available with several online betting companies. It’s important to specify the kind of bet you are placing, which might be tricky for a starter.

Here are different kinds of bets you can make with bookmakers:

  • Straight bet where you bet on the winner at odds that are already given. It’s often termed as single bet as well.
  • A point spread bet makes things even more interesting and can either work in your favor or go against you. The favourite has to beat the underdog with certain number of points or goals according to your bet. Even if your teams wins but doesn’t beat the other team by sufficient margin, you won’t be making any money.
  • The Moneyline bets work exactly the opposite of point spread method, and can take some getting used to. It’s best to leave such bets till you get a hang of the system.
  • The total bet is placed on number of points or goals scored in the match, depending on what sport it is. It has nothing to do with the winner or loser, and can even out your chances.
  • An accumulator bet is when you pick your winners in more than one game. The winnings of your first game are parlayed onto the next one for further profits. However it’s imperative that you win the first game else it’s only considered as a single bet.
  • You can make bets for future games too. Some bets are open at the beginning of the season and you can pick your early winners.

Sports betting online isn’t as complicated as you think and can be a lot of fun.