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So it is with betting. How many stories of abject failure do you find on the web? Most are stories of success, some true, many untrue. They just need enough intelligence to choose one of two buttons in front of them. Losing apes are eliminated, winning apes carry on.
After year two, have survived. Year 3 leaves Year 4 survivors amount to 63 and year 5 around They are revered and talked about. Five years of success including hundreds, perhaps thousands of bets. People sign up to their tipping services, confident that they can be part of that success going forward — but they are wrong. As the years go by, more and more of the tipsters fail. You are being suckered by randomness. We need to learn from mistakes if we can. A group from Havard Medical School looked at the history of 40 customers of an online sportsbook over the course of a year.
They placed well over seven million bets amounting to more than 60m Euros. Why are the numbers above so poor? Also, the majority of bettors are just casual punters who want to have fun, not really caring too much if they win or lose.
His grandmother arranged both loans for Walters. His grandmother died when Walters was 13, forcing him to move to Louisville, KY , to be with his mother. There he worked two jobs, one in the morning at a bakery and the second at a gas station in the evenings. He rented a room in the basement from his mother. He married and had a child before graduating high school. The marriage was short-lived. Each time he sold a car, he mailed a self-promotion letter to 10 people living on each side of that customer's home.
He would peruse the daily newspaper for car ads, inviting the ads' sellers to do trades with him. He went through the phone book and cold-called people. Walters worked 80 hours a week selling cars and setting dealership records. In , he was hired as sales manager at Steven's Brothers Auto Sales, a competing dealership.
He worked at Stevens Brothers until , when he started his own business, Taylor Boulevard Auto Sales, wholesaling cars to other dealers throughout the southeastern United States. During that time, Walters also remained involved in sports betting. In , he left the automobile industry to become a full-time sports bettor. He was running his own betting service on the side and, in , pled guilty to a misdemeanor charge of possession of gambling records in Kentucky. The charge later was expunged from his record.
It was then that he decided to move with his wife, Susan, to Las Vegas, where opportunity beckoned and betting on sports was legal. Walters started gambling when he was 9 years old, when he bet the money he earned from his paper route on the New York Yankees to beat the Brooklyn Dodgers in the World Series.
The Dodgers won and Walters lost the bet, but it did not deter him from gambling. Walters was a losing gambler as late as Walters once lost his house during a game of pitching nickels. The winner did not take possession; Walters agreed to pay off the debt over the next 18 months. Walters' success changed in his mid to late 30s. Caesars, however, declined his request. Walters then took his proposition to the Atlantic Club Casino Hotel , then known as the Golden Nugget, which was accepted. The pair noticed a wheel bias and bet on the In the s, Walters joined the Computer Group, which used computer analysis to analyze sports outcomes.
Over a period of 39 years, Walters had only one losing year, with a year winning streak. Though he has finished in the red for a few months, he was always in the black by the end of the year. Walters bet on basketball, NFL , and college football. In April , Walters was found guilty of insider trading after using non-public information from Thomas C.
Davis, a board member of Dean Foods. Walters' source, company director Thomas C. Davis, using a prepaid cell phone and sometimes the code words "Dallas Cowboys" for Dean Foods, helped Walters, between and , realize profits and avoid losses in the stock, the Federal jury found. At the trial, investor Carl C. On December 4, , the U.
Walters was initially imprisoned at Federal Prison Camp, Pensacola, but was released to home confinement in Carlsbad, California, on May, 1, , amid the coronavirus pandemic. His sentence was scheduled to be completed on January 10, ,  and was commuted by Donald Trump on January 20, Walters has three children, and was an avid golfer. Walters is a noted philanthropist and has donated to Opportunity Village, a Las Vegas nonprofit for people with intellectual disabilities.
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Baseball Betting Consensus. Hockey Betting Consensus. Soccer Fixtures. UFC Betting Advice. College Football Game Simulator. College Basketball Game Simulator. Baseball Game Simulator. Hockey Game Simulator. Soccer Betting Picks. UFC Fight Analysis. In fact, for the first week of NFL games this year, where the Denver Broncos will be playing, along with the NBA playoffs where the Denver Nuggets are in the second round, William Hill just launched their betting app in Colorado , boosting potential revenue even further.
With the added exclusive promotion rights, both William Hill and CBS Sports are set to take an even larger section of the rapidly growing sports betting market, which seems to have no signs of slowing down in the coming years. The sports betting industry has made massive gains in size and scope over the past few years with the advent of online betting as well as the legality of it in 14 different states , with many more considering legalization and regulation of it in the coming years.
While that number is already significant enough for CBS Sports and William Hill to be making such a large commitment, the projected revenue for the future is astronomical. The sports betting market has never been bigger than it currently is right now, and this only seems to be the beginning. With the projected growth in the US alone, the market cap for this industry has yet to be discovered.
This investment should certainly lead, at the very least, to more fan and sports bettor engagement when watching the games on television or when using the CBS Fantasy Sports platform, which continues to be a giant within the industry. The increase in engagement should, in turn, increase sports betting in states where sports betting is currently legal. As more states begin to legalize and regulate sports betting, this rollout will only have a greater investment return.
Tom Price is a writer focusing on Entertainment and Sports Features.
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