Successful sports betting requires a combination of skills such as making correct bet selections, betting at attractive prices, and correctly managing stakes. This involves in-depth knowledge of sports, complex modeling to determine odds, and running a betting business.
There are fewer than 50 betting syndicates globally that can win over a million dollars per year, with even fewer winning around a billion dollars annually. Waterhouse VC has a stake in a tennis-focused syndicate with proprietary historical data and advanced modeling techniques.
Existing large racing syndicates receive rebates on their bets, giving them an edge over emerging syndicates. Human behavior, driven by fear and greed, plays a significant role in betting decisions, making it challenging to succeed. Cognitive biases can hinder successful betting strategies.
The Kelly Criterion can optimize betting strategies by determining the ideal allocation of funds to each bet. Position sizing is crucial in both betting and investing, as small changes in bet amounts can impact overall success. Waterhouse VC, a fund for wholesale investors, includes professional betting as one of its pillars, achieving substantial returns since inception.
