How many times has the balance in the right hand corner of the preffered betting app – or maybe the left hand corner, etc. decreased and emotions of depression, anxiety, fear, doubt, uncertainty and anger been expunged from the very souls of humble hopefuls aiming to make a living off gambling? Perhaps they too think that they can be a professional sports bettor.
The fact is: the most experienced bettors are only taking home a max profit of 55% ROI every year. They’re playing with big amounts of liquidity. Amounts that the average Joe couldn’t imagine what to do with. And all of that money comes from years of networking and cold selling their picks.
A bettor named SWIM (someone I met) made $2500 and lost $5000. He broke even, but during the time he was betting, he was losing more than he was gaining on certain dates within that time frame. It’s like a Point Guard: a PG will put up a certain number of points every night and sometimes they have an off night. The truth hurts: nobody can know the outcome of a game that’s currently in progress (half way through the game) or of a game that hasn’t played out yet. They can predict an outcome based on metrics, but nobody is a fortune teller. All gamblers and everybody who takes risks is essentially making a bet or an investment or in this case, an option contract worth 100 shares.
So the bettor is essentially saying to himself, “I’m investing 100% of my free liquidity into gambling because I know I can make a profit off it and eventually turn it into a career. Who needs school? Or that day shift at Sizzlers?”
Its a fantasy. And a fallacy.
If anybody is to do anything with their money, they should be investing it into the economy – not into casinos, or MGM’s pockets so to speak. Buy a share in MGM. It’s a much more profitable long term investment. And that’s the goal of investing: to be set for the (long) term. Betting is for the short term. So don’t think it can turn into a career path when there are options like STEM or trades available.
Featured image by: istockphoto.com
