The Smart Money book. Read 18 reviews from the world's largest community for readers. For three years, 44, a former journalist, lived a secret life as a. “It's a game that almost nobody can conquer,” Michael Konik writes in “The Smart Money.” “Big Daddy is the man who can beat it. He's the man. The Smart Money, written by Michael Konik, details the journey of an average sports fan who become one of the world's best sports bettors.
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The Smart Money: How the World's Best Sports Bettors Beat the Bookies Out of Millions [Michael Konik] on ronaldweinland.info *FREE* Sold by: Book Depository US . Editorial Reviews. From Booklist. In , gaming journalist Konik joined the Brain Trust, . Since Mr. Konik was a "beard" for the smart money for most of the book he is really just an order taker. Some readers may find sequences of him. Seems like most of the people who criticized this book are doing so because they question the truthfulness of it, and/or it didn't deliver what they were looking for.
Find out the secrets of how betting syndicates work What is the hardest part of betting professionally? In a similar fashion to Joe Peta in Trading Bases , Konik is quick to point out that if you want to make money from betting you should steer clear of negative-expectation casino games like roulette and blackjack. The Smart Money is a thoroughly interesting read, but it also serves as a useful guide to anyone who wants to know how to become a professional bettor. One just hopes to encounter them infrequently. The Brain Trust is a profitable syndicate for a number of reasons. The importance of things like team news, injuries and even changes in the weather is obvious throughout The Smart Money. Losses are an integral part of being a winning sports bettor.
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A vast majority of William Hill's customers are recreational bettors who wager small amounts and never test the limits, house rules or gaming regulations. Industry sources say it's the remaining sliver of bettors who make the book uncomfortable enough to eliminate some of them from the equation. William Hill executives make the decision on which accounts to shut down during a weekly meeting in the Las Vegas corporate office, according to multiple sources familiar with the company's practices.
In these meetings, often held on Wednesdays, CEO Joe Asher will scroll through a list of accounts, flagging any that stand out as potential threats.
He will then ask his team of traders why they should continue doing business with these customers. The traders, sources said, regularly resist, promising that a player ultimately will lose back all their winnings and then some.
Their resistance, however, has not prevented hundreds of bettors from being put on a list that prohibits them from betting with William Hill in person or on the company's mobile app. William Hill says the bettors on the banned list belong there.
Nevada bookmakers are heavily regulated and risk federal scrutiny as well as six- and even seven-figure fines from Nevada Gaming Control if they don't maintain anti-money laundering and know-your-customer protocols. If a bettor is found to be unsuitable and violating federal law or state regulations, the bookmaker who took their bet is often held responsible too. To stay in good standing with regulators, licensed operators must be careful. Anyone named in illegal gambling investigations is put on William Hill's banned list, along with bettors suspected of sharing accounts on the mobile app, a violation of gaming control regulations.
There is, however, a select group of bettors, dozens of them, who insist they haven't done anything except try to place smart bets and yet were still cut off.
Some are angle-shooting advantage players, who target oddsmakers' mistakes and any latency in updating the lines, while others on the list say they are simply avid sports bettors who try to play the best odds. All kinds have been shown the door at William Hill, according to the bettors and additional industry sources. That's one of the great things about sports betting -- a lot of customers do win.
At ESPN's request, bettors provided emails and screenshots from their mobile accounts that notified them they could no longer bet with William Hill. Some bettors said they were even in the red overall at the book, but might have had a recent hot streak or won on a long-shot futures bet that proceeded their being cut off. It happened to Fortuna two years ago. After cashing a winning bet on the Golden State Warriors in the NBA Finals, he went back to the William Hill book the next day and was told he was no longer allowed to bet.
It's almost like they're saying, 'We don't have to serve you,' which is unfair. You can't win. It's not really bookmaking.
The bettor said he sent three follow-up emails and left multiple phone messages asking for a reason for the decision but never got a response. The author had the opportunity to work with a sports syndicate for a period of time. Konik got a good look at some of the inside workings of a syndicate. He tells an interesting story and does a great job of weaving in the thinking, problems, and issues that serious sports investors and syndicates need to consider.
Many books do not offer many new ideas or real value. Smart Money is different. The book includes some real insight and ideas that will help most sports investors in their quest to improve results. Some of these tidbits will be familiar to SportsInsights members. Other ideas will get your mind working and thinking about ways of improving.
Here are some highlights:.