Sports betting millionaires: stories of how professional betters made money

Sports betting millionaires: stories of how professional betters made money
The best betters in the world used the mistakes of the bookmakers. Now it is almost impossible to repeat their success.

The best betters in the world - icons, legendary images, incredible success stories. They are used to illustrate that betting at the bookmaker's office can bring huge profits. But is it that simple? Could famous sports betting millionaires be a good example for a newcomer?

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Sonny Reisner - the face of 20th century betting

American Sonny Reisner was born in 1921 and became the real embodiment of the bettor of the 20th century. He borrowed his passion for sports betting from his father and began to play from a young age.

In the world of sports betting, Sonny quoted literally everything. Even during the Second World War, being at the front, he contrived to jokingly give odds for the victory of one or another army.

In the 50-60s, Reisner, in parallel with the development of the antique business, constantly made bets. He does not always succeed in being in the black. Later, in his books, he admitted more than once that he fell into terrible black stripes. I even lost the money set aside for the children’s education.

Since 1970, Sonny Reisner began working for various bookmakers in Las Vegas, which brought him real success. He was responsible for the formation and quality of the line. His most famous project was BK Hole-In-The-Wall, owned by Bill Friedman.

After the closure of this office in 1987, Reisner retires from business, teaches, writes books. His career has shown that even the best forecasters often lose, and stability comes only when working for a bookmaker.

Lam Banker is the author of the famous rules of a successful bettor

Lam Banker became famous not because of his stormy biography, but thanks to the formulated rules of successful betting. He advises sports bettors to follow these guidelines:

  • bet against public opinion in order to enjoy good quotes;
  • not to recoup by the catch-up method;
  • follow clear rules for selecting events;
  • adhere to strict financial discipline.

These and other Banker's rules have become classics of betting. Who doesn't know his expression: "Play with numbers, not emotions"?

But it is important to understand that bookmakers play the most successfully with numbers. Especially nowadays, when betting is fully automated.

Tony Bloom - the success story of a true professional

Tony Bloom has become perhaps the best example of success thanks to betting. A few facts about him:

  • in his youth he became a real gambling addict, squandering family savings;
  • studied mathematics at the University of Manchester;
  • worked in a large audit firm;
  • he embodied mathematical and financial knowledge in his betting strategy, which began to bring profit;
  • was hired by the bookmaker Victor Chandler, where he achieved great career and financial well-being.

Conclusion: Sports predictions brought another player success when he went over to the side of the bookmakers.

Bob Vulgaris - Rise and Fall

The example of Bob Voulgaris is illustrative . He really won a lot of money solely on the game. But then he also lost them.

Bob was very good at basketball. He used the fact that bookmakers set the same odds on the totals of all quarters. Vulgaris understood that in the last segment the teams break through the set total more often.

For a while, the bettor bet on “total more in the fourth quarter”, which brought him a huge amount of money. But bookmakers quickly reacted to this and began to set odds for basketball quarters in a new way. Bob continued to play on the strategy and lost almost all of his money.

Thus, he did not take advantage of his winnings. Later, with his friend, Vulgaris created a program that analyzed basketball statistics. But she didn’t make a profit.

The story of Vulgaris has once again shown that even a brilliant epiphany does not insure against failure. But his temporary success made him a legend.

Joe Peta is an exchange analyst in the world of betting

Peta 's success story began with a life tragedy. Joe was hit by a car and he ended up in a wheelchair forever.

Before that, he was not fond of betting. Peta was a stockbroker and just loved baseball. Finding himself in difficult life circumstances, he watched many matches.

Over time, Joe came to the conclusion that baseball was easier to analyze than the stock markets. Adhering to strict financial discipline, Peta achieved success in betting and eventually became a capper. He accepted large investments by managing the money of his clients.

Joe Pet's success story formed the basis of his book Trading Bases: Wall Street, Gambling and Baseball. Not surprisingly, it has become a bestseller.

Billy Walters - ruin, enrichment, imprisonment

Walters is further proof that it is not individuals who make money on bets, but companies. From a young age, Billy was an avid gamer who wasted the family budget. He was well versed in the mechanics of bookmaking, even organized an illegal betting center. But this did not help him to gain a profit.

Walters was just lucky to get into the successful Computer Group in the 80s. Its creators, mathematician Michael Kent and surgeon Ivan Mindlin, after meeting Billy, were amazed at his ability to thoroughly analyze the bookmaker's line.

The company made money by developing betting algorithms, and Billy came to the court. But very quickly, the company and Walters himself became the targets of numerous investigations by government agencies.

Walters went to jail, albeit not on gambling or money laundering charges. He was convicted of leaking inside information in 2015.

Patrick Veitch - horse racing betting legend

Veitch has become an idol in the world of equestrian handicaps. Horse racing started to be profitable for him when he was young. He made his fortune rich by age 25. Patrick had the gift of seeing a winner in a dark horse.

Several big bets brought him financial success. Further career developed not only due to intuition and deep knowledge of the racetrack business. Veitch proved to be a brilliant organizer.

Horse betting organizers easily set up successful handicappers and prevent them from wagering large amounts of bets. Veitch organized a whole network of agents who posted on his instructions. So he was able to bypass the tricks and restrictions of the bookmakers.

The best betters in the world and their stories: conclusions

Many people think that it is easy to make money from betting. Search queries "the best betters in Russia, top betters, top betters in the world" remain trending. Players expect to be able to repeat someone else's success.

But what do these stories really show us?

  • the successes of individual characters are extremely rare;
  • financial well-being comes to bettors when they start working for bookmakers;
  • successful players who have a serious educational and professional foundation: mathematicians, financiers;
  • even betting legends experienced bankruptcies and huge losses;
  • real breakthroughs, finds in the world of betting, weaknesses of bookmakers were used in the XX century. Today it is almost impossible, because bookmakers use the best software for forming the line and odds.

Don't count on becoming a millionaire at the expense of the bookie. Do not treat sports betting as your main way of earning money. Yes, betting can be a lot of fun and even money-making. But don't assume that betting will greatly improve your life. There are many more losers than winners.