I feel like I haven't been at it enough to fully compare the two but that's my perception so far that it's very different. For me it's that sports betting is betting on individual events and the market is continuous, it seems very rare to have events where stock is worth x if this happens and y if it doesn't. The advice on focusing on specific time frames as a place to start is helpful.
I think there is more low hanging fruit in sports betting. It is much easier to find obvious arbs or mispriced derivatives than finding ways to outperform in the market but many of these opportunities are not scalable enough. Again, limits and account restrictions are part of the issue. However, the market historically has rewarded you just for buying and holding. If you pick randomly in sports or have no idea what you're doing you will lose badly to the vig.
I would think sports bettors would gravitate more towards day trading than swing trading or position trading because of the extra patience required of the later two. You might have to wait days or weeks for a swing trade to pay off so you better ask yourself if you have that kind of patience.
One of the best options trading books, cleverly disguised as a racetrack betting book. Racetrack Betting: The Professor's Guide to Strategies The authors are Asch and Quandt. Plenty of copies are still around.
That's right, in sports you bet the one outcome, in trading the outcome never ends. So in trading you might bet to go long but you've got to continually bet different directions because they are rising and falling. "Oh I bet long and prices are falling but I'll hold as it will only be a small fall". Most often, especially noobs, they get it wrong, the small fall becomes a large fall. Trading is counterintuitive (deceptive) until one wakes up how the mkt operates. It's a steep long learning curve unless mentored.
View individual trades the same as individual sports games. Tonite you place a bet the Lakers will beat the Mavs and monday morning you place a bet TSLA will go to 190.00 at some point. Same difference.
When you're ready and you have twentyfive minutes, load up your chart platform with the Nasdaq Index or the S&P 500 Index or a highly traded stock or etf and set it to a 5minute (or 3m or 1m) candlestick chart. Add a 200 bar moving average, a 50ma, and an 8ema. If not too much trouble throw some Pivots on there and go find a dozen of these Morning Star Doji that follow the rules set out by that linked vid. Now, you want to know the number that paid you money and the number that cost you money and how much, there's the start for your stats. If you do see potential, then do 88 more. When you have questions, 'how do I set my stop? how do I know when to exit? Write those questions down. Run a search engine for answers. Post those specific questions to other traders. Write down the good responses. There's your journal start. Things will spread out from there. And that can be a problem, lol. Focus. https://www.elitetrader.com/et/thre...t-right-here-baby.335635/page-31#post-5776910
There are some hedge funds that are experimenting with sports betting: https://www.sig.com/Sports-Analytics/ The Bloomberg link below is a gift article that does not require a subscription. The link expires on 03/25/2023. https://www.bloomberg.com/news/arti...9.DOiOMsgYFuzJ_lHWhqtq5WzlEyo0OFk9iXphW9Ff4ZI
A good start to begin I would say: https://www.quantifiedstrategies.com/ Lots of interesting and good strategies which also can be combined to achieve even a better working portfolio. You should be able to make some money with them.