The sports betting world and Wall Street
This year, the Super Bowl is projected to be the biggest sports betting event, aside from the World Cup in Brazil. Though it is difficult to give an exact estimate due to the lack of regulation in some parts of the world, professional sports betters reveal that there will be billions being wagered.
The interesting thing about the sports betting industry is that it operates much like Wall Street. Their strategies, tactics, professionals, and amateurs are very similar. Instead of betting, you’re all, you do so using spreads. Your portfolio is diversified. In the sports betting world, you have side bets, or “prop bets”.
Twenty to thirty years ago, bettors were playing against the sportsbook. That is simply not true in today’s world. Now, bettors are playing against the global marketplace. The amount of money flow that moves through the global market is well into the billions of dollars.
Ted Servansky (a.k.a “Teddy Covers), Vegas-based sports bettor/ESPN columnist, comments, “So it’s not a better versus the bookie or the book, it’s better versus the marketplace and that’s a very similar concept to what we see on Wall Street. It’s not you against the house when you’re trying to pick a rising stock. It’s you and your valuation against the market valuation.”
According to Servansky, it is possible to make a living off of the wagers you make in this industry. At that point, you have become a professional sports bettor. It is all about honing your skills, making smart decisions, and raising a high enough bankroll.
For the sports betting advice companies in the industry, a merchant account is a way to go. Sports betting merchant accounts can offer those in the industry electronic payment processing services. Because of the high risks associated with the industry, merchant accounts are necessary since traditional banks usually reject offering their processing services.
At emerchantbroker.com, support is offered for your high-risk merchant account as long as certain requirements are meant. For example, the chargeback rate must remain belong 3%.
Contact us today for a Sports Betting Merchant Account