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Can you become a Millionaire by Sports betting?

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Captain
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Posted: #1

When I first started this, I always envisioned winning big and then investing in an 8% annual index funds while I kick back on a quiet ranch. So far, the plan went off the rails.

 
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Posted: #2

it's easier to lose money than to win.

I dont have the data, but I suspect that 91% of sports bettors lose more than win.

That being said, I sugest you to take it as a hobby and gamble only for some fun.

 
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Posted: #3

How to make 1 million betting. Start with 10 million.
 
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Posted: #4

Better to be a Millionaire which many people are already. Just think of your house and your investments and you are probably already there. People don't think of themselves as Millionaires but I don't think I have a friend who isn't worth a few million in assets,  stocks and savings but to say, Hey m, I am a millionaire would make you sound stupid. A Million dollars isn't that much money. I mean putting three children through private school then College or University  then advanced degrees while supporting them is well into a million dollars easy. If you are going to work 9 to 5 and our paid an hourly wage then taxes will most likely kill you but still very attainable an_light

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Posted: #5

Oh yes you can BUT you need to file chapter 7 numerous times and live under the bridge before you become millionaire. Keep dreaming kiddo.

 
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Posted: #6

About the same percent of people giving blumpkins under the bridge become millionaires from sports gambling.. 

 
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Posted: #7

I think Vanzak did it. There was an entire thread about his gambling odyssey from rags to riches, but I doubt you can find it after covers changed it’s format. 

 
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Posted: #8

Read "How to Beat the Pro Football Pointspread" by Bobby Smith, "How Professional Gamblers Beat the Pro Football Pointspread" by J.R. Miller, and "Week One NFL Winners - 2020 Edition". All available on Amazon.

It can be done, but very, very, very few are willing to put in the immense hard work involved.

 
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Posted: #9

Same chance as if you did anything else. Maybe 5% or less. 

 
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Posted: #10

I can also tell you from experience that when I tried doing this for a living, as an unemployed father of two, it was a 9-5 job, and one of the hardest, most stressful I’ve ever had. My bankroll was 10,000 and in two years I won 35,000. People who don’t realize how hard gambling is scoffed at my accomplishment. They said it was a pittance, and they were right to a certain extent, but what they didn’t realize is that I was working with a 10,000 bankroll, had it been 100,000 I might have won 350,000 in two years, or I might have not. Sometimes the less you have to work with the more focused you get, and you don’t take the kinds of chances you normally might with a bigger bankroll. For instance, last year I turned a 25$ free play to $5,000 in three months. Then what did I do? Like a moron I put 3000 on a team that -1000 that I thought had 0 chance of losing and I lost! So there you go. That’s gambling for you.

 
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Posted: #11

I start with $100 bucks and see where it takes me, usually no where but on 3 occasions I cashed out with $3k or so.
 
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Posted: #12

Quote Originally Posted by begginerboy:

I can also tell you from experience that when I tried doing this for a living, as an unemployed father of two, it was a 9-5 job, and one of the hardest, most stressful I’ve ever had. My bankroll was 10,000 and in two years I won 35,000. People who don’t realize how hard gambling is scoffed at my accomplishment. They said it was a pittance, and they were right to a certain extent, but what they didn’t realize is that I was working with a 10,000 bankroll, had it been 100,000 I might have won 350,000 in two years, or I might have not. Sometimes the less you have to work with the more focused you get, and you don’t take the kinds of chances you normally might with a bigger bankroll. For instance, last year I turned a 25$ free play to $5,000 in three months. Then what did I do? Like a moron I put 3000 on a team that -1000 that I thought had 0 chance of losing and I lost! So there you go. That’s gambling for you.

Great job, BB!

This is what I mean by very few are willing to put in the work. The majority of sports bettors and almost everyone on this forum puts in less than an hour a week on their handicapping. Most put in less than 10 minutes. They watch the games and thinks that makes them an expert on betting.

 
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Posted: #13

Very possible winning big long segmented parlays. 

 
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Posted: #14

Better off playing the lottery

 
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Posted: #15

its possible with the right methods/strategies / bankroll over a 10 yr period..

 
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Posted: #16

Hit on draft kings. It's like hitting the lottery.

 
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Posted: #17

Quote Originally Posted by Wizerguy:

its possible with the right methods/strategies / bankroll over a 10 yr period..

 

I think it’s all about capitalizing on a streak and doubling down your profits. Takes risk.  Bet 5k, win 10k,  risk 10k next game, win 20k, risk 20k, win 40k, risk 40k, win 80k, after 80k, 4 more wins and you’re at 1.2M..  The Brady/Belichick era went on song long ATS runs. People made a killing off that dynasty 

 
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Posted: #18

Quote Originally Posted by FRANKtheBANKss:

Better to be a Millionaire which many people are already. Just think of your house and your investments and you are probably already there. People don't think of themselves as Millionaires but I don't think I have a friend who isn't worth a few million in assets,  stocks and savings but to say, Hey m, I am a millionaire would make you sound stupid. A Million dollars isn't that much money. I mean putting three children through private school then College or University  then advanced degrees while supporting them is well into a million dollars easy. If you are going to work 9 to 5 and our paid an hourly wage then taxes will most likely kill you but still very attainable

 

This dude actually believes his own monopoly money lies...

 

 
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Posted: #19

Quote Originally Posted by ActionMagnet:

Quote Originally Posted by Wizerguy: its possible with the right methods/strategies / bankroll over a 10 yr period..   I think it’s all about capitalizing on a streak and doubling down your profits. Takes risk.  Bet 5k, win 10k,  risk 10k next game, win 20k, risk 20k, win 40k, risk 40k, win 80k, after 80k, 4 more wins and you’re at 1.2M..  The Brady/Belichick era went on song long ATS runs. People made a killing off that dynasty

That’s just getting lucky. Sure it can happen, but what does it prove?! We are talking about grinding out wins and living through bad beat after bad beat. It ain’t glamorous, but that’s what it takes to succeed. A guy who won over a million on horses, and then eventually gave it all back, told me that what keeps most gamblers, even the good ones, from coming out ahead is the vig. He was a math guy who believed the vig tilted the advantage to the house in a big way, and eventually ate away at the profits, making it impossible to stay ahead.

 
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Posted: #20

Of course you can. Just start out being a billionaire.

B B B and B
 
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Posted: #21

Quote Originally Posted by wegstar21:

About the same percent of people giving blumpkins under the bridge become millionaires from sports gambling..
  what's a blumpkin....and how much for a zj

 
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Posted: #22

Wanna be a millionaire gambling? Be the house, simple as that. 

The pen is mightier than the pigs
 
Legend
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Posted: #23

This is honestly a pretty simple answer.  

Yes.  You can.  But it is like anything else in life.  People want an easy path to success with no work, and sports gambling attracts all of the wrong types of people.  Most sports gamblers are arsonist firemen.  They create all of the problems that then they try to solve.

If you asked the question "can you become a millionaire by becoming a doctor?"  the answer is maybe.  Doctors that learn their trade, take advantage of opportunities, take it seriously constantly learn and grow - become millionaires - the rest become family practice guys making 100k a year.

Sports gambling takes a deep understanding of probability and mathematics which most people don't have without work.  And since a huge majority of sports gamblers are lazy by nature, they don't want to learn or grow.  So you end up with a situation where you have a huge percentage of losers, and a very small percentage of winners.

But I know many winners.  Winners who have made millions.  It is possible, just takes work.

peace_5

 
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Posted: #24

Quote Originally Posted by vanzack:

This is honestly a pretty simple answer.   Yes.  You can.  But it is like anything else in life.  People want an easy path to success with no work, and sports gambling attracts all of the wrong types of people.  Most sports gamblers are arsonist firemen.  They create all of the problems that then they try to solve. If you asked the question "can you become a millionaire by becoming a doctor?"  the answer is maybe.  Doctors that learn their trade, take advantage of opportunities, take it seriously constantly learn and grow - become millionaires - the rest become family practice guys making 100k a year. Sports gambling takes a deep understanding of probability and mathematics which most people don't have without work.  And since a huge majority of sports gamblers are lazy by nature, they don't want to learn or grow.  So you end up with a situation where you have a huge percentage of losers, and a very small percentage of winners. But I know many winners.  Winners who have made millions.  It is possible, just takes work.
My man! Who ya got in NFL this weekend? surprised

 
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Posted: #25

Quote Originally Posted by vanzack:

This is honestly a pretty simple answer.   Yes.  You can.  But it is like anything else in life.  People want an easy path to success with no work, and sports gambling attracts all of the wrong types of people.  Most sports gamblers are arsonist firemen.  They create all of the problems that then they try to solve. If you asked the question "can you become a millionaire by becoming a doctor?"  the answer is maybe.  Doctors that learn their trade, take advantage of opportunities, take it seriously constantly learn and grow - become millionaires - the rest become family practice guys making 100k a year. Sports gambling takes a deep understanding of probability and mathematics which most people don't have without work.  And since a huge majority of sports gamblers are lazy by nature, they don't want to learn or grow.  So you end up with a situation where you have a huge percentage of losers, and a very small percentage of winners. But I know many winners.  Winners who have made millions.  It is possible, just takes work.

From your experience Vanz, what is the most profitable sport to bet on, and is that because math and probability play a greater role in predicting/determining  the outcome? And by the same token, which sport is the hardest/most difficult?

 

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