Rumour Two current AFL stars have lost $1 million each on the punt

[My Tilly]

I can’t but others can

They always tell you how much they have won but never let you know about all the losses

Gambling on sports in particular, you will never win in the end.
You may have a lucky run which allows to accumulate thousands upon thousands but ultimately, in the end, you will give a lot of it back (likely all of it). It's just the way it goes in sports.
Always has and it's why all bookmakers are multi-millionaires.

 

[Sauras]

Gambling isn't the problem. It's the people doing it. If you win say $100 or $10,000, you can walk, but you don't because you want more. There's nothing wrong with the actual science of gambling, it's just that people are either silly or greedy.

 

[GoldStandard]

It's only an addiction if you suck at it.

 

[ChesterTreasure]

It's only an addiction if you suck at it.

It's only an addiction !!!

 

[NonPhixion]

They always tell you how much they have won but never let you know about all the losses

Gambling on sports in particular, you will never win in the end.
You may have a lucky run which allows to accumulate thousands upon thousands but ultimately, in the end, you will give a lot of it back (likely all of it). It's just the way it goes in sports.
Always has and it's why all bookmakers are multi-millionaires.

Not true.
you can beat the bookies in the long-run by consistently placing +EV bets. They are bookies, they don’t always manufacture the right odds 100% of the time, in fact they get it wrong a lot. The main problem & how they essentially make millions is by limiting/banning winning punters which is done by evaluating The history of someone’s bets - if they are consistently beating the closing odds & placing large wagers there account won’t last long.

 

[GoldStandard]

It's only an addiction !!!

says the salty punter

 

[Aramis]

Incorrect

Its a numbers game

Would you prefer 2 rich dudes losing $200,000 per year or 10,000 kids losing $5 per week

"easier to take a dollar off a million people than it is to get a million dollars out of one"

 

[YippeeYiYeo]

Not true.
you can beat the bookies in the long-run by consistently placing +EV bets. They are bookies, they don’t always manufacture the right odds 100% of the time, in fact they get it wrong a lot. The main problem & how they essentially make millions is by limiting/banning winning punters which is done by evaluating The history of someone’s bets - if they are consistently beating the closing odds & placing large wagers there account won’t last long.

An acquaintance of mine has been banned by 3 online betting agencies because he was up around 10k each time. He wasnt betting big amounts but his regular $50-$100 bets more often than not came through.

So beating the bookies can be done, but they have the right to not do business with you. It really is a poor system where they can drain the bank accounts of customers left and right and leave their lives in ruin.

 

[Mick F]

An acquaintance of mine has been banned by 3 online betting agencies because he was up around 10k each time. He wasnt betting big amounts but his regular $50-$100 bets more often than not came through.

So beating the bookies can be done, but they have the right to not do business with you. It really is a poor system where they can drain the bank accounts of customers left and right and leave their lives in ruin.

Yes, surely they should win enough overall to cover our $30 each way bets that may have a winning (EV+) consistency. Hearts like budgies!

In all likelihood we’ll give most of it back anyway. If not they have a couple of happy chappies telling their mates ‘you can win’.

 

[Pykie]

An acquaintance of mine has been banned by 3 online betting agencies because he was up around 10k each time. He wasnt betting big amounts but his regular $50-$100 bets more often than not came through.

So beating the bookies can be done, but they have the right to not do business with you. It really is a poor system where they can drain the bank accounts of customers left and right and leave their lives in ruin.

I've been banned from at least 4 book makers for winning 2-3 bets in a row.

Some will simply just restrict you to max bets on markets you regularly win in.

In no way do you need near $10k winnings to get blocked by them.

They will let you lose thousands, as soon as it comes the other way in any regularity, they ban you....


They are the absolute scum of the earth, I'd rather the league be sponsored by Meth cooks...

 

[Aussie in exile]

They always tell you how much they have won but never let you know about all the losses

Gambling on sports in particular, you will never win in the end.
You may have a lucky run which allows to accumulate thousands upon thousands but ultimately, in the end, you will give a lot of it back (likely all of it). It's just the way it goes in sports.
Always has and it's why all bookmakers are multi-millionaires.

Anybody who goes to a casino and expects to win is a fool
Anybody who bets with a bookie on a regular basis and expects to win is fool

 

[Leviathan Pie]

Anybody who goes to a casino and expects to win is a fool
Anybody who bets with a bookie on a regular basis and expects to win is fool

You can win, the mathematics of it aren't liquid.

If you keep taking $2.50 about a $2.20 pop - you'll win long term.

The issue is people have no self-control, and really don't understand the numbers behind things like Market %, House % etc.

 

[HeathySure]

You can win, the mathematics of it aren't liquid.

If you keep taking $2.50 about a $2.20 pop - you'll win long term.

The issue is people have no self-control, and really don't understand the numbers behind things like Market %, House % etc.

You also need to change with the times because the parameters move all the time and the edges are always found eventually. Have a look at the history of most famous big punters.. pretty much all ended up destitute in the end.

As someone who did pro punting for 15 years its the hardest game in the world

 

[Leviathan Pie]

You also need to change with the times because the parameters move all the time and the edges are always found eventually. Have a look at the history of most famous big punters.. pretty much all ended up destitute in the end.

As someone who did pro punting for 15 years its the hardest game in the world

I'm in wagering/racing, I understand exactly how it works.

The big syndicates are becoming so adept at tweaking their algorithms, despite the appalling market %'s that are now being bet - even Sean/Kingsley Bartholomew don't win at the % they used to, and Dr Nick packed up his AUS operation all-together, but they're still winning.

 

[HeathySure]

I'm in wagering/racing, I understand exactly how it works.

The big syndicates are becoming so adept at tweaking their algorithms, despite the appalling market %'s that are now being bet - even Sean/Kingsley Bartholomew don't win at the % they used to, and Dr Nick packed up his AUS operation all-together, but they're still winning.

Not sure if they are or not. you usually find out they are not when they top themselves (see Don Scott). but i agree with Dr Nick and Zelko making huge bucks helped by concessions the average punter will never have

 

[00Stinger]

It's only an addiction !!!

Only a low percentage of people who gamble are addicted to it!

Same with alcohol & sugar

 

[NorthernBastard]

Problem is once someone is a gambling addict you could argue it's worse than drugs or alcohol.

Problem is it's legal, easy to hide from family and you can blow huge sums of money in a matter of seconds.

 

[the harry]

Problem is once someone is a gambling addict you could argue it's worse than drugs or alcohol.

Problem is it's legal, easy to hide from family and you can blow huge sums of money in a matter of seconds.

You can't self exclude from your dealer though.

 

[Chief]

How does the gambling industry specifically target youth?

The majority of young people are quite poor, and if they bet only bet quite small amounts. The gambling industries get most of their profits from the big players who lose hundreds of thousands or millions, not kids betting $5 multis.

Establish the habit early while they have idle time, before they get married and have kids. Get an app on their phone before they understand what's happening.

 

[Anzacday]

Establish the habit early while they have idle time, before they get married and have kids.

Sorry to hear that Chief.
Hope you get it sorted soon

 

[Chief]

Sorry to hear that Chief.
Hope you get it sorted soon

Over my head

 

[TwiggleyFanClub]

So the shopping centre that buy those machines are working with the gambling companies to brainwash children together.. This is quite a conspiracy

Take a look at Zagames one Saturday night. Pokies room at one end, skills testers in the kids' room at the other.
When you've seen kids of 7-8 with that haunted look in their eye as they beg their parents for more coins, or sneak under the table looking to rifle through their mum's purse while she's not looking, you'll realise they're playing the long game.

 

[Kappa]

Take a look at Zagames one Saturday night. Pokies room at one end, skills testers in the kids' room at the other.
When you've seen kids of 7-8 with that haunted look in their eye as they beg their parents for more coins, or sneak under the table looking to rifle through their mum's purse while she's not looking, you'll realise they're playing the long game.

I'll be honest, I just see kids on their phones and none of them ever give a s**t about those old shitty games

 

[HairyO]

1 million isn't that much over a period of time these guys could be losing that in 3 years of playing footy.

Even Chief with his crazy Google Ads money would blink a couple of times if he blew $1m on the punt.

Thing is, if they lost $1m you assume they probably had winnings in there, meaning they most likely made many millions worth of bets being made.

 

[TwiggleyFanClub]

I'll be honest, I just see kids on their phones and none of them ever give a s**t about those old shitty games

I've got kids that age, and some of their cousins act like strung out junkies scrounging cash for their next hit.