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Does anyone here bet on sports?

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  • Does anyone here bet on sports?

    If so, what sports, and if so, about how much are you betting? do you do it seriously or just for fun?

    I haven’t tried it just because I can’t justify to myself investing money on anything with a negative expected return, but I think if I wanted to have a “fun money” account, trying to pick sports bets sounds like a lot more fun than doing fundamental analysis on individual stocks. I just doubt I’d be any good at it.

  • #2
    I did a whole bunch back in early high school using my mom’s information on a site called Bodog. It was kosher from her standpoint since I got her permission. I actually have no idea why she let me do it.

    It’s not currently legal in my state but once it’s legalized I’ll probably do it. It makes watching games you’d have no interest in a lot more fun. It’d be entertainment value only as I’d have zero edge.

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    • #3
      I watch a lot of sports, but for me betting is like buying lottery tickets. I’m not interested if it wouldn’t change my life, because I’m expecting to lose money. So (while I do not remember the last time I bought a lottery ticket and it was probably a decade or more ago) I definitely wouldn’t buy a lottery ticket for a 100k possible payoff, I would conceivably buy one that paid 20M. If I’m going to take a risk of losing everything I’m wagering, it has to be life altering. Otherwise it feels like throwing away money for too little return. And winning 10k is all well and good, but it’s going to make no impact long term. I had to give up my time to get that money; I didn’t do that to lose it. Obviously to make life altering money with sports betting, I’d have to wager way more than I’m comfortable with anyway. I’ll watch and root for my teams -
      My Youtube channel: https://www.youtube.com/channel/UCFF...MwBiAAKd5N8qPg

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      • #4
        I bet the NFL, MLB and NBA owners get good seats for free and make money.
        I would never be an owner. Jim Crain is respected-Astros a good owner. Cal McNair- Texans not so much. Word is even his mom flips him off when he stops by. Raking in the bucks though.

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        • #5
          Yes. It makes watching sports a lot more fun. I put in 200$ to the site and did bets as small as 1$. Thus far it has been all NFL. I'm up 200$ and plan to do a good bet on Kentucky derby.

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          • #6
            Other than the College Football Season Pick’em pool that I enter with friends and colleagues for $50, I don’t do any sports betting. I do it more for socializing (e.g., “trash talking”) with others than for the thrill.
            One season I placed in the top 10 (of over 75 participants), won a couple of hundred dollars, so I deducted my entrance fee on my taxes as a gambling loss.

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            • #7
              I do. I use Draftkings and usually bet on NFL and NBA. Started with $50 and have gotten it up to a few hundred. It's purely fun money and I enjoy it.

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              • #8
                Originally posted by Lithium View Post
                I haven’t tried it just because I can’t justify to myself investing money on anything with a negative expected return, but I think if I wanted to have a “fun money” account, trying to pick sports bets sounds like a lot more fun than doing fundamental analysis on individual stocks. I just doubt I’d be any good at it.
                You're not "investing" in anything. Betting on sports is simply a form of entertainment. You can spend $200 on a nice meal, a play, a concert, or betting on sports.

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                • #9
                  I was net positive probably a 3 figure amount over the years from betting on horse races at the Del Mar racetrack. I picked 100% based on the name.

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                  • #10
                    I use the BetMGM app. Nothing big, just some $25-$50 bets during the football season, makes the games more fun. Let’s just say I won’t be retiring anytime soon to become a sports bettor!

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                    • #11
                      Originally posted by Anne View Post
                      I was net positive probably a 3 figure amount over the years from betting on horse races at the Del Mar racetrack. I picked 100% based on the name.
                      I won small wagers about 20% of the time betting at Del Mar when I lived in the San Diego area. I actually stood in line at the betting windows behind Bob Baffert one time.

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                      • #12
                        Negative: not a fan of a near certain loss of 100% of my money.

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                        • #13
                          Originally posted by JWeb View Post

                          You're not "investing" in anything. Betting on sports is simply a form of entertainment. You can spend $200 on a nice meal, a play, a concert, or betting on sports.
                          That is certainly the realistic expectation. But many (most?) people who gamble delude themselves into thinking they make money in the endeavor and that’s why they do it. If I could convince myself of the same, maybe I’d try it out.

                          I’ve seen some ads for online sports gambling sites paying big bonuses and been intrigued but the terms seem pretty complicated.

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                          • #14
                            Originally posted by Lithium View Post

                            That is certainly the realistic expectation. But many (most?) people who gamble delude themselves into thinking they make money in the endeavor and that’s why they do it. If I could convince myself of the same, maybe I’d try it out.

                            I’ve seen some ads for online sports gambling sites paying big bonuses and been intrigued but the terms seem pretty complicated.
                            I am making this number up, but I think that 99% of people who bet on sports are just doing it for fun. There are very few professional gamblers out there.

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                            • #15
                              Does fantasy football count? I play a few season long leagues each year (it used to be more than a few). But it's not really about the money. It's fun game and you can't get people to take it seriously for a whole season unless there is some money on the line. I did some DFS for a while, but that is harder to beat than it used to be, so I haven't done it in years.

                              I used to do a lot of arbs and bonus chasing. It's been a while and I doubt it's worth the time and effort for me now.

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