A survey conducted by Whistle Wise finding 76% of sports bettors view gambling as a form of entrepreneurship (h/t Sports Handle) drew a collective gasp from the sports betting community, which knows the true percentage of people who make money betting on sports is nowhere near that.
Zack White, a professional bettor who specializes in NASCAR, laughed when told of the survey’s results.
“It’s not even close,” White said. “You’re talking 1%.”
It’s not impossible to win betting on sports, but it takes tremendous intelligence, hard work, discipline and capital. Proficiency in math and computer programming helps as well – necessary, in fact, some say.
“Everybody thinks they can do it,” White said. “There’s very few people that are able to do it year over year for the long term. It takes a lot of different aspects as a person – discipline, money management. You’ve gotta be well-bankrolled to start. Nobody’s gonna take $10,000 and turn it into enough money to live off of.
“These days, you (also) need computer programmers, you need inside information to create a well-rounded betting portfolio to win long term.”
The good news for NASCAR bettors is the sport’s betting markets are neither as liquid nor efficient as those for the NFL, college basketball or even golf. In other words, not as much money is bet into NASCAR as those other sports, so it’s easier to…