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My Way
Pros and cons in the betting syndicates
Pros and cons in the betting syndicates
"Should I open a Sportmarket account with my friend now, when we get 50€ each and a 50% deposit bonus? Then start betting together? Or should we even take Tom with us? Then each of us would bet the markets we are experts in, and then we would share the wins, losses, and expenses of buying the ESBC-analysis", asked a young semi-professional sports bettor from me.
Well, it depends. It really depends.
In my career, I have been very much of a "lone wolf." I have mainly bet alone - barring the volatile combination pools. That has cost me in working hours and certainly in the ideas and information supply. And in the middle of the horrible losing runs, I would certainly have felt better with a supportive, mentally strong colleague on my side. Same with the winning days, which are more enjoyable with sharing the euphoria.
On the other hand, decision-making is easier alone. One doesn't get confused with the ideas of the others in the betting co-operation. Most profitable bets feel uneasy to place. With betting partners, they get even more difficult. The pressure of agreeing with popular bets gets harder, and it requires a lot to convene the partners to make a "crazy" bet (which is quite often a good bet). And the feeling of making decisions about the other person's money can almost paralyze a syndicate bettor.
To be a profitable bettor, one needs to spend a lot of time in research and analysis. That might make sacrifices in "normal life" unavoidable. Loved ones, friends, hobbies, and eventual work outside the betting profession can suffer from a successful betting career. If one makes the choices of time management oneself, everything is OK, but in the betting syndicates, one can feel guilt by working too little for the syndicate and giving too much time for "normal life". Or vice versa: doing very little for the betting syndicate and living normal, balanced, healthy, good life instead can create conflicts inside the syndicate or inside one's mind.
Syndicate betting suits well for really close friends or relatives who share common values, ways of working, and goals. It is essential that the risk levels, working hours, and performance tracking are decided and agreed upon before starting the operation. If the members possess different skills and areas of expertise, the synergies of working together can be very rewarding.
So, I couldn't give a clear answer to the young potential top betting professionals. I have seen syndicates accumulating their capital from coins to millions in good spirits - earning happiness for their members from the fascinating mission together. But I have seen betting together ruin friendships along with bankrolls. So let everybody analyze deeply, honestly, and calmly before starting to bet in a syndicate.
Welcome to follow - or join - My Way!
What is "My Way"?
I designated an account in Sportmarket earmarked only for this project. I deposited there €800 + €800 in February and then €800 every month. I started to bet in the same very defensive, risk-averse way as I did when I was young. I write regular blogs on our web page www.esbc.fi, where I follow how this experiment/mission/challenge progresses. I call this mission MyWay.
Follow MyWay! It is not only my twists and turns in this mission, not only nostalgia from my first way towards my first million. You'll learn much about betting strategies, my thinking and working, risk management, war stories" and nostalgia. Occasionally you'll learn how to win +EV equity in upcoming sporting events for free.
Welcome to join me in MyWay!
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