I am an amatuer sports bettor but every now and again I see a sure thing and I want to bet like $50,000 on one bet one in Vegas (never been) How does that work sionce Im obc=viously not going to walk around with $50k cash.
2006-08-22 11:57:21 · 5 answers · asked by Chris M 1 in Sports ➔ Boxing
If you want to progress from an "amateur" sports bettor to a "professional" sports bettor the first thing you need to do is to dispel yourself of the notion that there's ever such a thing as a "sure thing". Successful sports betting is all about finding the wagering value--do this over the long haul and you'll make money. It's the "buy low/sell high" of sports gambling...
But to answer your specific question, if you want to get $50k down in Vegas you most certainly *will* have to walk around with $50 grand in cash. I see guys do this all the time. Unlike the various offshore books or local bookies, the only thing that works at Nevada books is cold, hard American greenbacks.
The next trick is to find a book that will accept that large of a wager--a lot of that depends on what specific proposition you want to bet on. If you want to lay $50k on a Superbowl side you might find some takers. The problem there is that they'll most likely move the line on you--say you wanted to bet Team A -3 over Team B. The most likely scenario is a book taking $10k at -3, $10k at-3.5, $10k at -4, $10k at-4.5 and $10k at -5 or some similar arrangement. I won't go into the lower theoretical breakeven point of each additional half point line move, but clearly having a total of $50k riding at different pointspreads is far less preferable to having it all at the best price you can find. If it was a lower profile event just getting that much money down becomes something of a trick. The guys who run sports books--both the Nevada books and the better offshore stores--just didn't fall off the proverbial turnip truck. If a total stranger waltzes in trying to lay 50 g's on a low profile sport the most likely outcome is that your bet will be refused and the proposition will be taken off the board, with most other books following suit, until they figure out what's up...
What a professional would do is have runners to hit several books around town at the same time to insure getting the best price. That would give you a better chance of getting the whole sum down at the same price but this requires a lot of coordination and know-how. As a self professed "amateur" you're a lot better off leaving this sort of big money moves to professionals. If you had interest in becoming a professional, however, I'd suggest that you need to do a lot of research and education on sports betting, and particularly probability theories and money management. I know a lot of people who make a lot of money betting on sports, and not once have I heard these professionals use the term "sure thing".
If you have any other specific questions about serious sports betting, both in Nevada or offshore, feel free to drop me an email.
2006-08-23 18:47:05 · answer #1 · answered by Anonymous · 1⤊ 0⤋
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2016-06-09 02:36:42 · answer #2 · answered by ? 3 · 0⤊ 0⤋
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2016-05-16 13:52:24 · answer #5 · answered by ? 1 · 0⤊ 0⤋
In sports betting you have to pay what they call "the juice." What that means is that you must 10% extra to the house if you lose. That means to win 50K you have to bet 55k. The casios have lots of different ways for you to lose your money. Wire transfer, credit card, etc.
2006-08-22 12:02:18 · answer #6 · answered by billymike1969 2 · 0⤊ 0⤋
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2014-12-16 18:35:03 · answer #7 · answered by topsports 1 · 0⤊ 0⤋