Three professions to get great results in sports betting.
Among the many traditional professions that people have in the everyday world, there are three that have the necessary qualities to successfully predict and place bets. In this Paribet material, we will take a closer look at them and if you possess one of them, your chances of making consistent profits from betting increase manifold. Also, this article will be useful for beginners in this field, allowing you to develop the necessary skills and sharpen the existing ones.
The actuary is a hidden bookmaker
Asking an actuary a question about the nature of his work can lead to some confusion. Many people not only do not know the essence of the work of actuaries, but also for the first time hear the name of this profession. And the essence is to know everything about you.
Actuaries have a lot of knowledge about people, from predicting a person’s average life expectancy to their ability to drive a car well. These people collect and analyze information to calculate statistics when identifying insurance risks. Such work somewhat resembles the activity of traders in bookmakers’ offices, who determine quotes on upcoming events, the only difference being the context.
Betting website (bookmaker) do practically the same thing, but they try to make a profit for their organization, while actuaries try to avoid expenses for their employers. Both there and here, the accuracy of risk assessment directly affects success, but in the insurance industry the working conditions are even slightly more difficult — the potential influencing factors are much greater and this profession, like no other, will help its holders to succeed in placing sports bets.
When choosing a bookie it is also important to know his margin, his profit percentage. Our article — margin in sports betting will help you.
Generally speaking, anyone who buys and sells for his own profit can be called a trader. In the age of online trading traditional market relations have changed a little, but they have not lost their essence and now almost every trader in financial products is engaged in trading.
The scope of traders’ activities is very wide: from trading stocks and currencies on stock exchanges to taking advantage of debt obligations of less enterprising colleagues. However, in spite of the wide range of trading areas, the aim of the worker is always the same: to buy something and sell it in the most profitable way. A direct link can be traced here to the bookmakers’ offices, which, by and large, trade their own quotes on this or that event.
Even the terminology in these spheres of activity is identical, which only confirms the similarity of the professions. Decreasing bookmaker quotes in the closed environment of traders companies is called «more expensive odds», implying that for a potential win you need to risk a more significant amount. Conversely, when values rise in this environment, it is common to say that they have become «cheaper.
The financial crisis of 2008 lowered the profitability of the investment environment and forced many traders to retrain as bookmakers. Such professionals didn’t have to learn anything new and became engaged in virtually the same business, but in a slightly different interpretation, and also got the opportunity to achieve tax benefits for their type of activity.
Many specialists from the world of betting express the opinion that soon trading and betting will merge, and the concept of betting will be recognized as a separate asset class. So it can be concluded that if you are a good trader, you will feel quite comfortable in the sphere of betting and you can use your professional skills here in maximum profit.
The first two professions have high chances to succeed in the world of betting due to the fact that they are similar to this sphere of activity in their professional qualities. Such people have a certain mindset, accustomed to constantly assessing risks and striving to gain the greatest benefit in ways that eliminate the risk of losing finances as much as possible. However, there is another niche with the same set of qualities and preferences — professional players.
A large number of traders in the past quite successfully played Magic the Gathering (MTG) professionally. It is a very common and hugely popular card game that combines collecting and selling cards, and also has a serious strategy and dynamics.
In the world there are about 20 million professional players in MTG, which is quite a lot, and the qualities of the most successful of them are very similar to the work of a trader. In addition, this game is not just a symbolic title of the champion — MTG tournaments gather a decent number of fans, and the prize money is measured in six figures.
Given, first of all, that MTG is a card game, a professional player here must have all the qualities typical of other card games — poker or bridge. But those who play strategy games, like backgammon, will also have a similar mindset for successful prediction in the betting world.
Many traders, who used to take part in MTG tournaments, have found themselves in eSports, becoming successful players in Dota and League of Legends, thanks to their developed fine motor skills, equanimity and strategic thinking. These last two qualities will always be in the «desirable» column of the job description of a betting company trader and will always remain relevant for a successful sports betting forecaster.