I mentioned before that I know a kid who does this with great success. Wondering who else is doing this, perhaps good topic for the weekend lol. and notice there is a comment on this video - Idiots beat stocks Smart people can beat poker Geniuses beat sports interesting..
Well, he was also a trader, although an "insider trader": https://www.reviewjournal.com/news/...bler-walters-gets-5-years-in-prison-10m-fine/ Las Vegas gambler Walters gets 5 years in prison, $10M fine Though I assume his sports betting business and abilities were real.
People lose at betting for same reasons as in trading, they do not do their homework and lousy at managing a business. I have friends in Vegas who bet video poker and live poker. Video players know the odds of what is showing in video and they do very well on accumulating points on the cards one puts into video machines, both been doing it over twenty years and only couple losing years of approx. 10k but when you redeem the values of the cards and resell what is bought, both came out ahead. Those who play live poker are very best at reading people's facial expressions, non pros have "tells" and exactly what was said, if you can't find the guy who is the mark, then you are wrong table. Long ago I use to fly free to Vegas on my "weekends" and play 1-3 deck blackjack and count cards and also bet Baseball, back in the 1980s it was so much more fun than now. Everything was cheaper and odds were better for playing. Drinks were very strong, rooms very inexpensive and if you came often, they comp you travel, rooms, shows, evening "entertainment" and meals. But even going there every weekend became like a job and decided to spend most time learning how to trade from home. I never cared much for longevity at some employment, but always have done interesting jobs, but once they became like work, I left to go back to full time trading.
Back in 2011, when online poker pulled out of the US market a lot of professional poker players transition to sport betting and started playing on sites such as Fanduel and DraftKings. I have a friend who is trying to grind out a living in this industry and it really intrigued me but Draftkings and Fanduel wouldn't allow me to open an account because of where i reside so i decided to concentrate solely on trading. I don't personally know of anyone making a good living doing this but i read that there a lot of people making good money. Just like stocks, it would require a tremendous amount of time and dedication to be successful in this industry.