With football season quickly approaching, sports fans can expect to see a number of sports services and sports betting touts begin to appear out of the woodwork with the usual outrageous claims of excellence. A sports service is simply a person or organization that promises to pick the winners of the games for you in exchange for a fee, which can range from a modest amount to hundreds of dollars per game.
The sports service industry is not regulated in any form, meaning the touts are free to make any claims they wish, and those who fall for those claims have no recourse. Many sports services will make claims of 65 to 75 percent winners, which is not only unrealistic, it’s an insult to those who do put effort into handicapping the games.
Professional sports bettors, meaning those of us who live in Nevada for betting purposes, would be quite happy with a winning percentage of 55 to 57 percent each and every season. A bettor can make a nice living producing those results on a consistent basis, which is far easier said than done. If too many bettors were able to produce those types of results; the sportsbooks would quickly be closing shop.
Billy Walters and his legendary “Computer Group” beat the sportsbooks out of millions of dollars in the 1980s with winning percentages that ranged between 57 and 59 percent and they are regarded as the most successful sports bettors of all-time. Point spreads were considered much softer in those days than they are today, as everybody has access to computer programs that are more powerful than anything Walters and his group used.
Professional sports bettor Steve Fezzik, the only man to win the prestigious SuperContest handicapping contest in back-to-back years, states if a sports bettor was able to hit 60 percent winners over an extended period of time, they would be a very wealthy person within several years. A sports bettor beginning with a bankroll of $1,000 and wagering 10 percent of it on one game per day, would turn that $1,000 into $1 billion in just five-and-a-half years with a 1,200-800 record.
The next time you talk to a sports tout that promises you a winning percentage of 65 percent or higher, ask them if they are a billionaire, or even a millionaire for that matter. If they are not, you’ll know to quickly run in the other direction.