Eddie 'The Shoe' Fremantle is a freelance journalist, horse racing analyst and professional punter, probably best known, nowadays, for his punditry on the 'Racing TV' television channel. Fremantle developed an interest in horse racing at an early age and, in an interview with Star Sports in 2018, recalled backing Balliol in the King's Stand Stakes and Lassalle in the Gold Cup at Royal Ascot in 1973 although, by his own admission, he could not 'really remember much about it'.
Nevertheless, his interest in the 'Sport of Kings' developed throughout his teenage years. He was offered his first job in journalism largely as the result of a chance meeting with Ian Davies, who was, at the time, deputy editor of the 'Racing & Football Outlook', whom he met on a train journey to Ludlow. Some months later, Davies, who was by now editor of the aforementioned publication, contacted Fremantle and offered him a position as a sports tipster. Fremantle subsequently spent four years as a youthful 'Man on the Spot' in the now-defunct 'Sporting Life' newspaper, before devoting his time solely to backing horses for a living. However, after eight years he did return to journalism, as racing correspondent to 'The Observer', a position that allowed him access to the press facilities at racecourses.
Fremantle remains one of a dying breed of professional punters, insofar as he still goes racing four or five days a week. He is a modest punter, by professional standards, but he believes that, by keeping his turnover high – or, in other words, by betting as often as possible – but keeping his stakes relatively low, he eliminates long losing runs, at least in terms of time. As he put it, 'If you only bet rarely, but have a big bet when you do, you really have to get it right.'He also has an interesting take on chasing losses; of course, he does not advocate poor decision-making based on desperation, frustration or any other negative emotion but, by the same token, he does not view losing money as a reason to give up betting altogether. After all, he says, if you never chase your losses you'll never get them back.
Fremantle takes a entirely pragmatic approach to horse racing and subscribes to the unfashionable philosophy that there is no substitute for hard work. In the absence of any 'golden goose', he relies on studying form, on video and in print, as much as possible. As a matter of personal preference, he specialises in Flat racing, including all-weather racing during the winter months, but his best advice to anyone looking to make horse racing pay is to do something 'different'. Of course, horse racing form is in the public domain but, by examining the performance of every horse in every race, keen-eyed punters may spot something that has been overlooked by the rank and file of the betting public.
Instead of looking for the winner of each race, Fremantle recommends preparing your own betting forecast, or 'tissue', for each race and comparing your estimated odds with those commercially available to identify which horses, if any, are under- or over-priced. His own tissue prices factor in elements such as luck in running, or lack of it, which is a common cause of over-reaction by bookmakers.
Tommy Glenn Charmichael might have gotten away with cheating casinos and other establishments that house slot machines. However like most criminals ambitions and ego get them in the end. Tommy was a master slot machine thief good enough to perhaps never get caught. If he had stayed at a level and not aimed for the stars he may not have been caught.
The story goes like this
Tommy from Tulsa USA was a TV repairman with a shop. The skills in repairing TV’s it’s 1980. His friend Ray Ming from Las Vegas came in one day with something to show Tommy.
Ming had brought a Bally’s slot machine in and a device called a top-bottom joint. A top bottom joint is a device that would trick the slot machine into paying out. A small piece of guitar wire is fed up through the bottom hopper and must reach part of the circuit affecting the hopper control. This is step 1. Then whilst the bottom part is in place, Step 2; the top part a thicker gauge 9 shaped piece of wire is placed in the coin slot. A circuit is completed enough to trigger the hopper to dispense coins.
Ming was doing well and Tommy reeling from his third divorce and his shop was struggling decided to close the shop and start cheating for himself. This he did.
There was no video surveillance in the 1980’s. Still you had to have a good sleight of hand and be well practiced to not arouse suspicion. He was good at it. For 20 years he stole from Casinos across the USA and the Caribbean. But the first time he cheated is more interesting. He chose a nickel slot in a casino off the strip, and walked out with bulging pockets full of nickels- 35 dollars worth. Carmichael thought pockets bulging "You are thinking you are going to have yachts and cars. You know, the American Dream."
You might say the house advantage was 0.
Casinos monitor patterns and the losses on slots which would be way out of their predictable payouts noted. They started to learn about such tools as the top bottom joint. In retaliation the machines got better and so Tommy had to move to the lesser establishments who still ran old machines. This was a risk as they were smaller and you were more obvious. It led to his first being spotted cheating. He was slammed with the joint in his possession. He got 5 years (aged 35) for his offence.
The top bottom joint was now old news. He realised this game was about innovation. In the prison he met Mike Balsamo who was also in this line of ‘work’ they agreed to meet on the outside and work together. It didn’t take the full term and Tommy released in 1987 set to renewing his knowledge. Slots had moved on. Microprocessors and less reliance on mechanicals changed the game. But TGC was at his best learning from the machine and adapting. Also he left prison broke and again (but final time) divorced. He took minimum wage jobs and saved up over 3 years for a new machine. The International Game Technology (IGT) Video Poker Machine. It was 1990. It took a year of tinkering to come up with a new device nicknamed the monkey paw. Again a device that went up the money chute could be bent once in place tripping a microswitch.
It allowed Carmichael to bank $1000 in an hour. IGT of course was trying to stay a step ahead. It made some changes to new machines that stopped the monkey paw from working.
A cheeky move saw Tommy visit an IGT showroom where the sales rep was only too happy to open up one of the newer machines. Carmichael was posing as a customer. It was a risky move, it paid off as he knew he could beat it. Still needing the machine he bought one and got to work. The Light Wand was the new tool to beat this latest machine. It tricked the light sensors into not knowing how much was being paid out. It essentially shone so bright inside the machine was blinded.
High Point
It was now 1992 and Carmicheal was not only cheating he was also selling light wands to others. The criminal word of mouth got around.
IGT countered with an actuator arm but within an hour Tommy knew how to beat it with a device called the hangar. It was reported Tommy was now making around $10,000 per day if he chose to. He was nondescript, average and had good technique. You couldn’t see he was cheating. You could just see he was winning.
Carmichael bought 2 houses and invested in a pawn shop. He had a top Jaguar for a ride and was living a very good lifestyle.
Tommy went on a 6 month tour of Caribbean casinos and also visited Atlantic city where he was ‘making’ a lot of money.
The Group
On Carmichaels return to the strip he teamed up with Mike Balsamo and a certain Ramon David Pereira. Casinos were now operating with cameras and it was too tricky to operate alone. You needed people to block cameras and divert attention.
Tommy met a topless dancer at the very height of his cheating escapades, her name was Lisa Luxem. After his 4th divorce Carmicheal always had a girl by his side.
End game
It was on the night of October 4th 1996 that a security camera spotted and dispatched security to the machine where Carmichael was playing. He attempted to run and dropped a light wand. Proving he was cheating was hard and the charges were dropped- surprisingly.
It was the first of a couple of lapses for Tommy, again in 1998 and 1999 he was caught cheating. The 1999 time was in Atlantic city. "I've been looking for you," a certain detective Pflaumer said- "Me and you have a lot to talk about."
It led to the group being arrested federally, via wire taps and informants. All 7 members pleaded guilty to running an illegal gambling enterprise. Incredibly the sentence passed was extremely light on Sept 7, 2001, was 326 days prison and given three years' probation. He lost his two homes. He was ordered to stay away from Casinos.
Tommy now looks after his elderly mother back home in Tulsa.
He is trying to right a wrong by developing an anti cheating device called “The Protector”. His record however has not been forgotten and the industry is not about to allow him to profit from his skills and knowledge. He has been committed to a Black Book of known people in the Nevada state and banned from ever entering a casino again.
Good luck to each and everyone of you. I say that sincerely because if you don't have a plan or ambition you are unlikely to get to your final destination. So it is wise to have a plan. Or at least an idea.
So what are your chances of being a professional gambler?
It's not impossible.
When betting via skill you can be the best in the world. Remember, to make money gambling, you need to be better than most. You're facing competition but you're not trying to win an Olympic Gold Medal.
However, the better you can be the more money you can win.
Never bad news.
However, there is a problem. I am a person who believes from little acorns giant oaks may grow.
But here's the problem. Many professional gamblers make a return of just 1% on their investment.
£1 in every £100.
It doesn't seem a great deal of money, hey? In fact, it even makes some of these dodgy investment scheme look attractive. The incentive is to make your betting more profitable. If you are at the 1% level you will need to bet a lot of money and if you are selective you are going to run into problems.
It's not a problem but if you rely on your winnings to get by as your only source of earnings you will be feeling under pressure to earn more cash.
You cannot force bets.
It is the same as chasing losses.
So if you are considering becoming a professional gambler you will do well to make your profits as big as possible and that is down to skill.
Some professional gamblers have a return on their investment of 20%. There are some who have more.
Over the last few years professional gambler tattoos have become really popular. Everyone loves a bit of ink whether hand, wrist, arm, sleeve or somewhere more daring.
You don't need to be a gambling high roller with a private jet flying to Las Vegas to turn a few heads.
Personally, I am a blank canvas, a 51-year-old bloke - a tattoo virgin - waiting to get the nerve to get some ink. I guess, if you haven't had a tattoo by the age of fifty it may never happen. I wonder how many have opted for a tattoo while in a midlife crisis.
Have you got an ''everlasting jobstopper'' or you looking for a ''tough sticker''
It was the best thing they ever done.
Perhaps.
I'm not against having a tattoo, it's more trying to work out which design would suit and finding the most talented tattooist who could create a design and work of art.
Take a look at Pinterest and you will see thousands of designs.
However, for the classic professional gambler tattoo, which iconic symbols are most popular?
Las Vegas Sign
I'm not sure what percentage of gambling tattoos feature the Las Vegas sign but it's one of the most iconic features of this gambling metropolis in Nevada, United States. Welcome to Fabulous Las Vegas. The sign was funded in 1959 and erected by Western Neon. If you didn't know, the sign was designed by Betty Willis. It's situated at the southern end of the Las Vegas Strip.
Nothing beats seeing a gambler playing a big-money game of poker flashing the ink.
This sleeve design is well represented with the sign, roulette wheel, dice and even the iconic route 66 (cropped out of photo).
A well-worked piece that captures the strip at its best. I'm revisiting Hunter S. Thompson's novel: ''Fear And Loathing in Las Vegas.''
Classic.
Poker - Royal Flush
If you love your poker then why not go for something dynamic and a real winning hand.
This is an absolutely cracking design and a real work of art. There must have been a lot of time and money put into this sleeve. The king is a executed with so much character.
I found this design on Pinterest which was uploaded by Robin Van Der Hulst. I'm not sure if he is the tattooist but I'll gladly add a link to the originator of this beautiful piece.
A royal flush is a straight from ten to ace and all cards are the same suit. It's also, the best hand in poker. In fact, it is an exceptionally rare hand.
As for being dealt a royal flush on the flop you're talking about one in four-hundred thousand hands. That's quote from a player as I don't even play poker.
The Skull
It's a staple for the tattoo lover with a touch of angst.
Most gamblers are a hearty breed who aren't bothered by having, sometimes, the odds stacked against them. And the symbolic use of the skull is often used to represent death and the use of this design is to display that death doesn't frighten them. Also, it reminds people that death is inevitable so we should live life to its fullest.
Not only are three aces a pretty good hand in poker and brag but in tarot cards they represent multiple new beginnings, opportunities, or a new environment.
This is a particularly good design and the dice and snake eyes.
The main problem of telling your family about being a professional gambler is one of fear. They will fear you will lose all that you have. It’s not crazy.
Other problems:
They fear you will develop an addiction
They fear you will lose relationships
They will fear you will change as a person
As they stigmatise you so will others
The trouble is these fears are often exaggerated (depending on the individual). We will explore the reasoning behind the rationale.
We all have the right to live as individuals but we should and could do this with more care for those living close to us. We don’t want to bring instability or bad feelings to our loved ones.
The stigma of gambling
Gambling has a stigma associated with it for the majority of people. This stigma comes from a generalisation, it should be understood to understand why the stigma exists.
Stories of gamblers losing their houses and getting into lifetime debt are not sadly as rare as they should be. So a negative narrative exists in society. Also it flies in the face of people going to work to earn their living. Any time you gain money from not earning it in many minds is immoral. So these are the main reasons why the stigma exists.
Professional Gambler Quote:''For most successful gamblers their work ethic and effort to achieve a winning level of ability far exceeds anyone I have seen working the 9 - 5. In fact, it is more like studying a course that gives no degree upon conclusion. It may be years of hard work, disappointment and loss. I have worked many jobs and sure physically it can be more tiring to work manually compared with your mind. That is the same for many occupations. However, if you are comparing someone earning money gambling it can be viewed, in ways, that they actually do very little work to make their money. This is far from true. It leads to people considering profits from gambling are immoral because they are without work, seedy, underhand or many and varied assumptions. In truth, the majority of successful gamblers, traders work unending hours to be their best. Unlike a 9 - 5 job they are competing against a world of very talented individuals, from bookmakers to layers. Although stigmatised by others it is, in truth, the perceived ignorance of others and their lack of understanding.''
We all gamble daily to some extent
When we understand that we all take gambles every day we see the generalisation at work.
I gamble it isn’t going to rain. So is it not ok to gamble for money? For many this would be the line that is drawn. Playing 3 card brag at lunchtime for five quid isn’t going to get you in trouble unless it leads you to bigger games.
Many new businesses are a gamble. You might argue that they are based on information and so it is different from gambling. However gambling is taking chances given odds. You have information in sports betting. And sports betting requires a diligent approach.
Professional Gambler Quote:''There is a big difference between betting fixed odds such as playing roulette at the casino, fruit machines, fixed odds betting terminals, and skill-based betting. Sure, horse racing is about beating the bookmakers but it is possible if you know more. You might question how you can know more. That is why individuals can increase their knowledge and expertise by knowing their niche. Do I know more than a bookmaker whose giving odds on a given horse? Some I do not. But others I most certainly do. Am I guaranteed to win? No, because we are dealing with variables. Even the best horse doesn't win every race. But long term, the person with the most knowledge wins.''
The stock market is also a gamble given statistical data and ‘form’ and you can also lose a lot. I would ask people in their minds to examine the differences in betting on a Currency or Apple stock to betting on 2 year old horses. What do you think the differences are?
Professional Gambler Quote:''It's an interesting question to ask. People need to question what is acceptable and not. Also, for those who buy stocks and shares you need to think carefully about your understanding and what you need to know to make money with regard to any financial investments.
Who is making the decision about your investments and what do they know?
Just because someone has job as a financial advisor, whether independent or with a bank, you need to understand their worth.
Do they live in a big house, drive a flashy car and have they made money by using their skill?
Perhaps they have.
Perhaps they haven't.
Also, if you are interested in acquiring the skill to buy stocks and shares, gamble on the races, or buy an acre of land in Australia because you are convinced you can find opals, you had best understand what you are dealing with. Just because you have been successful as, let's say, a property developer, and made a lot of money, it doesn't mean you will be a success taking a gamble elsewhere.
You will need to start at the beginning and learn new skills.
This isn't going to be something that happens over night. Also, just because you buy into some expensive course it doesn't mean much. Why? Because there is a big difference between learning skills from someone else and their implementation.
If you don't think that is the case, then you are in for a rude awakening and most likely a heavy loss.
People question the gambler in the bookmakers but similarly I would question the novice buyer of stocks and shares because, if truth be known, there are many investors out there who have lost substantial money through a complete lack of knowledge. Anyone who doesn't have an exceptional grasp of their subject matter is a loser waiting to happen.
How can you compete against a seasoned professional?
When you look at the difference between the novice and expert it is a world of difference. The experienced take advantage of those who lack. Every business needs new investors, the naive to increase the profit of those who know more.
Whether betting on the horses or a blue chip company and their stocks, your background, finance, cash on the hip, call it what you may, means nothing without your personal understanding and knowledge to reason you know more.
Also, I would question, however much money you pay, why would someone give you the blueprint to their success? Is it really in their interests to tell all? You can see where this is leading. It is in the interests of these ''gurus'' to keep you paying, hanging on a line.
If you want to know true, indisputable, knowledge, it will come from your own hard work.''
So if you for example said ‘I have a gambling problem’ to your family, that is a very different thing to saying I am a professional gambler. However I would say that they imagine the same result will happen just that you are earlier in the process. So this is the problem. They generalise not understanding the full story.
Just saying you are profitable will not alleviate most people's fears.
The thrill of gambling
It may be fair to say that gambling is a different kind of risk, different to a business gamble in the thrill of it. For some not being able to walk away and bet using money they can’t lose is a difference. Is part of the stigma driven by the fear of addiction?
Professional Gambler Quote:''The worst thing any gambler can ever do is bet for the buzz. Why shouldn't you bet for fun? Because you simply have no understanding of what you are doing or where it will lead. You have everything to lose and nothing to gain. Take my word for it. If your gambling starts and finishes with the thrill you are in for a bad time.
You are the classic mug punter.
Betting isn't about fun, the thrill, the buzz or whatever you want to call it. The aim of a successful gambler or investor is learning how to win money. In fact, it is blessing if you don't even like to gamble. You shouldn't.
Why should you bet?
Because, on all rational evidence, skill and experience, you are confident you can make money.
Your thrill should come at the end of the year when you see you are in the black rather than the red.
Gambling purely for the thrill is a road to disaster.''
So let’s agree to take an individuals’ gambling activities on it’s own individual basis.
Analysis of your gambling strategy
Be very honest with your own status to yourself. Are you making it work? Are you consistent. You can do a SWOT analysis of your methodology and strategy. If you can clearly show that your weaknesses and threats are small enough and why then you will be understood better.
Of course it’s very wrong and ill advised to gamble with money you can’t afford to lose. Just like starting a business and remortgaging your property to do that is not a good idea.
Consistency
If you are a proven professional and make a living from it year after year then you can say you are a self validated professional. Perhaps you can put in some security measures to help reassure the family. Demonstrate you can act professionally and not lose it all.
Your family doesn't want to feel the risk- you introduced into their world.
Loss velocity
Another key difference is that overnight a business doesn’t fail. There have been some high rolling professional gamblers who have however lost 10’s of millions over the space of a couple of days.
Draw Lines and Limits
Having a set of personal limits in place can protect your income from poor decision making and a bad run of luck. So you have bad days- limits in place would allow you to cover these on a good day. Stick by your own rules knowing they will save you. But more importantly they can help remove the fear your gambling could impart on your family.
Every family is different. You can also choose to talk about this to friends and learn of their perception of gambling. It is likely they will have concerns.
It is probably a good idea to be transparent with your family (at some point) if they are caring and understanding and you explain the situation. They may after time accept what you do. You should understand why they have the fears they do.
In some cases though be prepared for a lack of understanding. This is one of the biggest problems. Having to lie to your family is not a healthy thing to do. It will create mistrust and destroy a relationship. Your family should be more important to you than any gambling activity.
Professional gamblers who lost it all
If there were never winners there would be much fewer people gambling. The allure of winning big or consistently winning gives the gambler hope. There have been some big winning gamblers and they make headlines, but some don’t always stay in the black.
Sometime some of the biggest winners end up the biggest losers too.
This is a short list of those who lost their bankroll and their professional gambler status. Of course they lose much more than that in reality. It’s worth reading through and perhaps reinforcing the importance of walking away when things aren’t going your way. It’s time to learn the hardest lessons the easy way. Don’t replicate their mistakes.
Erick Lindgren
Erik Lindgren did very well out of playing poker during the boom years of 2003 to 2006. Winning many medals at WSOP games and tournaments and got sponsored by Full Tilt Poker at $300k per month. So how did it all start to go wrong! I mean getting sponsorship is really impressive as it isn’t at risk like your bankroll!
E Dog as he is known started to look at alternative ways to gamble.One drawback to poker is the ‘effort’ to actually play. You can only play so many games at a time. Erick started like many to explore other areas and for many this has proven their downfall as it also did for E Dog.
The first complaints that came were from owners of private fantasy leagues after he failed to pay the entry fees. Then other debtors came to light one after the other. It was clear Erick had abused his income and bankroll. He declared bankruptcy, as it was clear he would never surface from drowning under 12 million in debt.
Erick has turned to rehab to try and stop gambling. He still plays poker, it is said from time to time.
Harry Findlay
Harry is famous for betting on horse racing in the UK. He is like many gamblers fascinating to listen to. He describes a dog race at Wembley stadium one evening…
One of his more famous bets was in 2007. Harry bet £2.5M that New Zealand would beat France in the Rugby World Cup. Harry had set up a big party at the stadium and New Zealand were up 13-3 at half time. Harry had a bet against his first hedging for France with £600k. France won the match and Harry came out with a big loss despite the halftime hedge. This bet however seemed to signify the downward trend of Harry Findlay who lost much of his fortune.
Archie Karas (Anargyros Karabourniotis)
Born in Kefalonia Greece in 1950. Archie was from a poor family. He made his own way to Portland on a ship and paid his way by working as a waiter. He made his way to LA and worked in the restaurant scene. Finishing late he discovered Poker and found he was good at it. He started on his road towards professional gambling. He also was into Pool and between the two he amassed an amazing bankroll of 2 million.
This initial 2 million a small fortune to most people could have been enough to stop! Not Archie. He lost it in a few high stakes games.
Archies bank roll would be up and down like a rollercoaster. Now at a low again comes the next part of his story.
On this newest low he arrived in Vegas with $50. Borrowing $10k from a fellow gambler he reportedly repaid that back within hours. A 6 month streak got his roll up to 17 Million. But it wasn’t the end. High steaks players wanted to play him for bigger amounts Stu Unger, Chip Reese, Doyle Brunson are some he beat amassing his highest ever bankroll around 40 Million.
This best period when he assessed this fortune was 1992 to 1995 and is commonly called ‘the run’ often thought to be the biggest and best in gambling history. This is a true rags to riches story.
And then to rags again…
Archie lost two big chunks of his bankroll in an insane time frame of just 2 days in 1995. The first 11 million on a Craps game and then 17 million on Baccarat. Only a few men on earth know the feeling of losing such an amount of money in such a short time frame. I am sure any others would be investors just before a huge crash.
Still a good deal remained from the 40 million. But Archie couldn’t build on it. He went on to lose this too albeit over a much longer time period. His lowest was to come as he was caught cheating on camera in a Casino marking Blackjack cards with ink from a hollowed out chip. 73 days jail time and $6,800 fine and 3 years probation.
He named his sports betting consultancy Starlizard after his nickname The Lizard; he got that due to his ice cool poker face. One of his most interesting businesses Starlizard uses technology and mathematics to give better odds to its members. Starlizard is said to go to the nth degree in factoring in a predicted score. The weather, player morale among other influencing factors.
Bloom also owner of Brighton & Hove Albion (his birthplace football team) and Royale Union Saint-Gilloise of Belgium, he has a passion for football- for sure.
Like some other pro gamblers Tony has made great success from combining maths and computers to help win at gambling. In further coincidence those same peers also were investors and businessmen.
The start
Tony was born on the south coast of the UK in a town called Brighton in 1970.
His grandfather used to enjoy a bit of a flutter at the dogs (Greyhound racing) but nothing serious. He would take Tony when he was very young. Tony also spent a few quid at the arcades; he must have loved the thrill.
It was at 15 that he started gambling himself at betting shops (known locally as bookies in the UK). 15 is and was an illegal age for gambling in the UK so he used a fake ID.
He continued to diligently study maths realising the power of the subject from a young age. There is also clearly a love of it shown throughout his strategic life. He went on to Manchester and got a degree in maths.
Following his student days he got his first job with Ernst and Young as an accountant. This alongside his betting wins built up a roll of some £20k a very nice respectable sum at the time. As an options trader though he lasted just 6 months, deciding to stop trading his time for money and moving into gambling as a profession.
The Oriental Connection
The next poignant moment was when Victor Chandlers (Bet Victor) the bookmakers noticed his talent for picking a winner. He had been winning from them no doubt! But he needed a big offer to make him give up being a pro. As head of a setup for Asian operations the position must have appealed to the entrepreneur in him too; as he took it.
Now he was working for a bookmaker and learning Asian handicapping whilst living an international lifestyle. One notable win for The Lizard was instructing Victor Chandler to give France favourable odds to win the 1998 world cup final. Tony knows football, as the unfancied Frenchmen stormed to victory over Brazil 3-0. This is said to have made Chandlers a lot of money. But besides that it showed the world his talent for knowing the game of football.
Ever the entrepreneur his first startup called Premier Bet was the first online to use the Asian Handicapping System. It was a great success and he sold the business later on.
Hungry for more Tony saw the rise of the internet and being well placed was able to get in on online gambling websites. Part of the rise of online gambling was from the success of Chris Moneymaker - it was boom time.
Taking his money from selling Premier Bet, Bloom saw the opportunity to reinvest and invigorate himself! Tony started two online poker sites, St Minver and Tribeca Tables.
Poker
Coming back to Chris M and Poker for a second Tony loves a game of poker. A true gambler at heart- “Poker gives you a good grounding in lots of things, including reading situations and reading people and making tough decisions. Those skills can be used in business and certainly in running a football club,” -Tony Bloom
Starlizard
The profits of this company are not known exactly but it’s huge numbers. It portrays itself as a betting consultancy agency. With 2 string services for those that can afford it. But if you can you may be in luck for the consultancy purportedly earns 100 million a year average. 14 million is made alone from the subscriptions to the information per year. If you visit the website of Starlizard you will see integrity is everywhere. Secrecy is very important when you consider that estimated annual wagered amounts can be a round 3 billion per year.
Tony though remains a very likeable man and is a dad to his son, married to an Australian woman he lives a private life and looks after his businesses and employees well. After a long tenure they are allowed access to Starlizards services. He seldom flaunts his billions but is known to throw a wild party now and again.
It's worth noting that Tony Bloom has an interest in horse racing and many have been the feature of informed gambles.
One horse worth a mention is Penhill, who was trained by Willie Mullins, a dual Cheltenham Festival winner in the Albert Bartlett Novices' hurdle (2017) & the Stayer's Hurdle (2018). He was retired in 2020 after pulling up when battling to retain his crown in the Stayer's Hurdle AT Prestbury Park. In his Flat and NH career he achieved 12 wins from 34 starts. He was a talented Flat horse with James Bethell and Luca Cumani, achieving a highest official rating of 100 and total earning (Flat) of £59,025. However, this son of Mount Nelson excelled on the National Hunt, achieving 7 wins from 16 starts. He won price money of £412,377. A highest official rating (NH) of 165 proved his class. A true champion.
Other exceptionally talented horses in the ownership of Bloom include Librisa Breeze, trained by Dean Ivory, who won over £1M in prize money. Withhold, trained by Roger Charlton, who has won over £400,000 in total earnings.
A professional gambler is someone who makes a living from betting or playing to win money. They devote a decent portion of time to studying and working out where to bet and how. A proper professional makes their money from winning more than losing- and winning enough to live on.
For myself I have visions of a professional gambler as being dressed casual with a sweater sporting sunglasses with a drink in hand. I think they also smoke. A very generalistic view that is totally incorrect for most!
Gamblers also, I picture always being in a casino. Could this be due to the bond movies or other Hollywood portrayals. Also a falsehood.
Today you can gamble from home or in a cafe or anywhere thanks to the smartphone! Being from the UK myself, the guy exiting the bookies is also a strong stereotype.
The truth is we are all very individual, this doesn’t change for gamblers and in many cases they possibly don’t change their look after going professional.
Is turning pro a good idea?
Please note that you need to take responsibility for your gambling and only bet that which you can afford to lose. This rule applies to everyone. If you break that rule you should not turn pro.
Being a professional gambler is afforded a few who have a very select set of skills. You can group these skills in two categories. Gambling skill and Admin and Life Skills.
Admin and Life Skills
Professional gamblers need the following skills as a basic set.
The list is a starting minimum.
Record keeping
Money management
Time management
Gambling Skills
Analytical skills- for your chosen type of game or sport you will need to be able to analyse results of the past and come to good solid conclusions. If you gamble on Horses you study the form guide and breeding among other metrics.
Emotional control- Specific to Poker you need exceptional emotional control to not give away your hand. Emotional control also applies to the way you bet. How do you feel. Do you gamble when angry or to win back money? Surely not throwing out the game plan is better.
Bankroll- You will need to plan and have enough to ride out bad luck so that the fruits of your analysis can pay off. The bankroll is your cash flow and for a pro it is a vital value that needs careful attention more than any. It is possibly the thing preventing you from trying to Go Pro since you need a health stack to begin with.
Pick your game wisely
Picking and sticking to the best subject (for you) is important- A skill game is one in which there is an element of skill that can overpower luck. As an example of such games they may include Sports betting (Horse Racing, Motorsport, Football etc), Blackjack, Poker, Spades and Esports..the list is big. You may have a favourite sport and this is a good place to start. But don’t discount a sport that you do well in. Performance should be the overriding factor.
Blackjack is a skill game that has been the centre of many a win for those with the ability to play when the time is right and the odds favour you.
No professional gambler plays purely a chance game such as roulette. However the odd pro has found the odd chance game with a flaw. Biased roulette wheel. Possibly only a very analytical mind would spot it.
Conclusion: I am sure that after some small success many try to go pro. The betting highway is littered with the carcasses of dead wanna be pro gambler careers. Like many vocations it is best eased into. Some of the best Professional Gamblers show this through their lives and how they got there.
If you are really serious then put in the time and gradually switch out from the day job. Like any professional you put in the time the same as an Olympic athlete.
We live in an age where truth is ever hard to come by. However since a long time sports betting touts have been outright lying to you. Here are 8 that will help you spot the lies and many more besides. You may also find these lies crossover into other subjects.
Some lies hold a truth to help validate the lie. Part of this whole deal however involves you. Make sure you do not get suckered and remember one thing: They work out what you want and pretty much tell you they can give you that. So ask yourself if it is too good to be true.
These lies are fully engineered to catch YOU!
A list of lies
1) They have a 75% winning percentage
These claims are worthless because it’s misleading. Anyone can pick money line winners with a very high success rate. But it doesn’t equate to making money.
For example in Football you could take Florida state and New York on the money line in any games they had a favour by over 15 the past several years and had a tremendous winning streak.
The question you want answered is this one; What is the touts winning percentage against the spread over the last 6 years?
The best sports gamblers on earth only win 55% against the spread.
2) The Split Groups Scam
Effectively a numbers game this one makes sure there are some winners through sheer probability. If you are among the lucky ‘winners’ you will be asked to fork out to continue to get the tips. And even if then you don’t win you will be sure it will ‘get back’ to being a winner soon. Your belief in the system will keep you on.
How does it work? A scammer offers free tips betting each way to a total number of people such that half will win half will lose. This ensures some win. Then out of that pool again the next game the system puts you in half so effectively if there are enough in the group you might get through with 5 winning in a row. Their belief will be high. The system also offers the losers some offers and some will take it. If they had a couple of wins then a loss they may be into it enough.
Let’s do some numbers.
Game 1 and we start with 20,000 gamblers who signed up for FREE! After game 1 we have 10,000 with a win. Of those 10,000 the ‘group’ again is offered a pick 5,000 one side and 5,000 the other. So there will be now 5,000 winners with 2 in a row. We go again with game 3 and the 5,000 winners get split so 2,500 get 3 streak...and so on. 1,250 will get a 4 streak and 750 get a 5 streak. At this point these 750 get sold on a subscription service based on their wins and belief in the system.
3) X Years Successfully Selling Picks
This is no real interesting metric because it says nothing about how good they are. They are also likely to be very happy to lie about this too!
4) You Don’t Pay Until You Win
Very similar to the ‘Split Groups’ method, 50% of the subscribers will get a lucky win, so at least half end up paying the ‘service’. Those that don’t win will possibly stay in not seeing the scam thinking it’s free. Perhaps after they pay out of their winnings to the service when they eventually get a win and discover their folly.
5) Guaranteed Winners
Again similar to the split groups and You Don’t Pay Until You Win if you stay in the system you will eventually get a win. It’s using wordplay against you.
6) You Don’t need To Do Anything Other Than Place Bets
Appealing to the lazy of mind with the simplicity of this statement. If you said it involved a complicated form to fill out to enter then you would be too busy and just move on away from the advert. Only because you suspect the system is doing complex stats behind the curtain would you think this is not simply playing roulette.
7) Lock Picks
Using a key word such as ‘Lock’ suggests mostly to the uninitiated that something special is going on on. It’s no different to a regular pick. It is subterfuge.
You yourself would be able to pick games that are looking more likely to be winners.
8) Act Now To Get This Special Price
Not just used in sports betting the headline is one to give you urgency and compel you to act instead of doing it tomorrow. When you would probably forget about it forever more. You may have seen the same thing shopping online with deal timers. Next time you see one of those test the timer- come back tomorrow and see if it was truthful!
Conclusion: Most of these are playing on numbers or wording to make what they are saying truthful for ‘some’ of their victims. You might have got lucky and been in a split group down to the end. But likely you would have put your winnings straight back into your new sports tout’s system.
The truth is that anyone who makes money consistently with their own methods makes far more than selling the information as picks.
The age old adage remains and forever shall if it sounds too good to be true...then it probably isn’t.
A very insightful video worth watching about gambling addiction.
If you talk to someone who doesn’t gamble about gambling they will likely tell you it’s for fools. After all, they don’t do it. You can find many sad tales around people that have lost everything. In extreme cases they sadly and too often take their own lives. So you can see why many people see gambling is for losers. But there are really successful gamblers all around the globe some more than others. I think it’s important to read this article realising that the following gamblers are extreme cases. Your future story is not likely to be like theirs so do not draw too much inspiration from them.
Only bet that which you can afford to lose.
We look at 5 successful gamblers. Success in gambling in this article means that the gambler involved won more than they lost to a significant gain.
Stanford Wong
Successful mostly at Blackjack Stanford Wong who’s real name is John Ferguson also created multiple businesses out of gambling, mostly book around Blackjack but he also created his own publishing house Pi Yee Press. One other notable creation was a computer program that helps beat the odds Blackjack Analyzer.
If you have been into Blackjack for even a short time you will have heard of him or maybe ‘wonging’ which is when players use his techniques.
A player who counts cards, waits for an opportunity to get into a ‘good’ game before playing is said to be engaged in wonging. Many casinos block this technique by simply having a rule against entering a game mid shoe.
He created a newsletter in 1979 from his publishing house titled Current Blackjack news.
Edward O Thorp
Born in 1932 Edward Oakley Thorp is still alive today managing his hedge funds. Thorp received his Ph.D. in mathematics from the university of California LA. His work and study into probability maths suggested you could beat the house advantage through counting cards.
He applied his theories in Reno, Lake Tahoe and Vegas where he won 11,000 dollars over a single weekend. He is the author of the book Beat The Dealer. You can catch up with him on twitter @EdwardOThorp
Nikolaos Andreas Dandolos commonly known as Nick the Greek was a professional gambler. He died on Christmas day in 1966. Like many professional gamblers Nick was a learned man, he studied Philosophy and gained a degree in it.
Sent to the USA when he was 18 by his grandfather he started his new life in Chicago but moved up across the border to Montreal. It was here he had great success betting on horse racing.
It could have been that coming from a wealthy family he had a leaning toward high stakes betting. The famous Montreal half million wins however were all turned into losses as he returned to Chicago where for some reason he switched to poker and craps.
It was during this time that he achieved celebrity status for his gambling and character. It is estimated that he won and lost around 500 million in his life. Sadly he lived a much poorer life towards the end but he never stopped gambling. There are some lessons to be learned from Nick's life.
Don Johnson
Don Johnson became known for a few wins in recent history. One time in 2011 in Atlantic City he won 15 million dollars playing blackjack. These are seriously high numbers by anyone’s books.
Part of the reason he was able to do so well was the casinos desperation at the time to attract players. He was able to negotiate a 20% loss refund but some of the rules he asked for were granted such as staying on soft 17. This gave him a mathematical edge.
Last on the list but certainly a man whose life deserves mention and further inspection.
William T Walters has been a prolific car salesman, a later life sports betting pro, astute businessman and investor. And then insider trading landed him in prison. His story is a true rags to riches one. He was raised by his grandmother in Munfordville Kentucky in America.
He was instilled with a terrific work ethic working 80 hour weeks selling cars any way he could. He made a lot of money doing it and broke company records.
He lost his first bet with a friend at 9 years old. It wasn’t something he got right until he found a biased roulette wheel he milked for 3.9 million some 20 years later. Until that time he had net losses of $50,000 before he was 25. Beyond the roulette wheel he is known for sports betting where he did very well in the 80’s. He created The Computer Group which has been incredibly consistent at predicting sports winners. Walters said in a good year he made 50 million dollars. The sport is basketball and football. Bookies will not take his bets so he has to have runners place bets for him. All this time he invested in various businesses and got involved in the markets. His current prison sentence is due to end in 2022 so it should be interesting to see what he decides to now do with the rest of his life. It certainly wasn’t boring.
The late 'Fearless' Freddie Williams, who died in June, 2008, at the age of 65, after suffering a major heart attack at his home in Skares, near Cumnock, Ayrshire, was once described as the 'immovable object' versus the 'irresistible force' of legendary punter John Partick 'J.P.' McManus. Indeed, at the time of his death, McManus said of his 'nemesis', 'We had some jousts over the years at the Cheltenham Festival. Racing has lost a colourful and loving character. The betting ring will be a much quieter place without him.'
Although from humble beginnings, Williams became a millionaire when he sold his shares in his local soft drinks factory, Curries of Auchinleck, in 1991. However, fundamental changes to the allocation of bookmakers' pitches, introduced in October, 1998, allowed him to fulfil a lifelong ambition of obtaining a pitch at Cheltenham, although he did have to pay £90,000 at auction for the privilege.
Having bought into the 'big time' as a bookmaker, Williams first met J.P. McManus on Festival Trials Day at Cheltenham in January, 1999. After a brief introduction, McManus promptly asked for £90,000 to £40,000 about favourite Buckside in the opening novices' handicap hurdle. Buckside led most of the way, giving Williams just cause to question his judgement, but was headed on the run-in, eventually going down by 2½ lengths. Later that same afternoon, Williams laid McManus £150,000 to £50,000 about Commanche Court in the Cleeve Hurdle and £175,000 to £50,000 about Even Flow in the Ladbrokes Trophy Chase; both horses lost, leaving Williams £140,000 ahead on the day.
The following March, Williams laid McManus £700,000 to £100,000 each-way about his own horse, Shannon Gale, in the Stakis Casinos Final. The seven-year-old gelding held every chance at the final flight, but could only stay on at one pace in the closing stages to finish fourth, beaten 7¼ lengths; McManus nevertheless collected £175,000 for the place portion of his bet.
Shannon Gale marked the start of prolonged series of skirmishes between Williams and McManus at the Cheltenham Festival, which would, at various times, leave both men bloodied, but unbowed. Williams once said of the McManus, who, nowadays, has a net worth of $2.2 million, 'I have a feeling John wants to be the first punter ever to have a million pounds on a horse at the festival. I love the guy to bits, don't get me wrong, but he's given me a lot of sore heads.'
Thursday, March 16, 2006 – so-called 'St. Patrick's Thursday' at the Cheltenham Festival – proved a case in point for the bold, old-fashioned layer. In the opening Jewson Novices' Handicap Chase, Williams laid McManus £600,000 to £100,000 about Reveillez, who ran out a ready, 1¼-length winner under Sir Anthony McCoy. The closing Pertemps Network Final featured four McManus-owned runners, including the well-fancied, but ultimately ill-fated, Olaso, who was fatally injured during the race. McManus, though, backed the outsider of his quartet, Kadoun, to the tune of £250,000 to £5,000 each-way with Williams; the 50/1 chance stayed on well to win by 1½ lengths, netting his owner a further £325,000 at Williams' expense.
If you are a man of a certain age you may well remember professional gambler Sidney Harris.
This stockbroker turned professional gambler proves you can teach an old dog new tricks.
However, far from a misspent youth, Harris was always astute in understanding probability - it was his blood.
He defied the odds and the misconception that it's a young man's game.
His story, like many, is quite remarkable.
Firstly, he didn't get into horse racing until his mid-40s.
It's never too late.
However, he made most of his vast fortune trading in options on the stock market.
We start the story back in 1987 when Black Tuesday brought dreaded news to investors across the globe. Shares went into free-fall and many investors lost their life saving in one day. An insightful Harris took a view the markets would continue to tumble and he wasn't afraid to put his money where his mouth was.
He speculated £38,000 that the markets would plunge into massive losses.
Within 24-hours he had made a clear profit of £90,000.
After retiring from the stock market game, he had the time, money and passion to invest in his new love of horse racing.
In fact, it led to the publication of his book: Horse Racing: The Essential Guide to Backing Winners, published in 2000, by As-if publishing with a forward written by horse trainer Mark J. Polglase.
Polish Peter said: '' At first this looks like the kind of slim pamphlet you expect from the usual snake oil tipster.
But contained within is a total to racing from the ground.
I have it by my bedside and each time I read a page I discover something new.
A Bible for horse fans.''
When Harris put pen to paper, he had been gambling professionally for just over seven years.
He said: ''No two years have been the same!''
Continuing, Harris said: ''Looking back at these seven years, I realise that I have been on both a roller-coaster ride and an acute learning curve," he says. "The objective of this book is to clarify, beyond doubt, that the best way to find winners is through constant and consistent study, and that only by taking a methodical approach is it possible to make sense of the chaos that is unleashed the moment the starting stalls open for a horse race."
He stated that most punters simply rely on luck to win.
"Each punter's journey is quite different, travelling an uncertain route without the benefit of a signpost," says Harris. "Entrenched misguided ideas lead punters to repeat mistakes that eventually become debilitating and regularly indulged habits.''
Harris wished to instill in the everyday punter that without a strategy it is impossible to spot mistakes.
One angle used by this consummate professional was to review races and look for horses treated leniently by their jockey and backing them when primed to win.
He said: ''If you watch a race two or three times you will be surprised by how little you pick up.''
This was probably the reason he would watch a race up to a dozen times.
As seen with many professional gamblers, he has a set of rules that he never breaks:
1) Never back a horse on unproven ground
2) Never a back a horse from a stable that's out of form
3) Never Never back a horse unsuited to the track
4) Never back a horse ridden by a jockey who has a poor record at the course
5) The same applies to a trainer with a poor track record
In fact, one of his golden rules is to identify trainers and jockeys who have good records at given tracks.
This is often something overlooked by punters.
Of bookmakers he gives insight to help punters to be one step ahead of what he calls barrow-boy psychology to entice punters with what seem to be the illusion of fleeting value.
Harris says: ''Most of the bookies prices are tantamount to a mirage.''
''Personally, I don't like to bet below 3/1. An exception may be a 11/4 shot.''
Looking at the percentages, he states:
"As we know, the difference between 2/1 ON and evens is approximately 16 per cent. The difference between a 9/1 chance and a 33 /1 chance is approximately 7 per cent. In this area, we have to play the bookmaker at his own game.
"We have to, wherever possible, look for favourites to oppose. By the sheer fact that favourites are the worst value, they create value at the other end of the scale. The shorter the price of the favourite, the more value it creates in other horses."
Basically, anything priced below 3/1 is potentially lacking in value and the shorter the price it becomes more acute.
Harris is correct in stating that the majority of bets are struck at 3/1 and less and reason why there is value at looking for bigger price horses.
He acknowledges that backing bigger priced horses can lead to longer losing runs. However, he states the best approach to coping with losing runs is to bet well within your means so you feel no emotion at losing.
If you are struggling with emotions: ''You are staking too high.''
Harris sticks with a level stake approach. He details the bad habit of gamblers betting each-way and how it can be difficult to get out of this routine.
However, he suggests punters use the 80 over 20 rule which seems punters place 80% o their stake on the win and just 20% on the place.
He works from a 100-point betting bank. If starting with £1,000 you should be betting £10 a time. For example, if you are betting £50 your betting bank should be £5,000.
Using this method you are working from within your comfort zone and betting has a feel-good factor. Even a string of losers will not unbalance you and, more importantly, you won't be betting with your emotions.
Harris wisely advises: ''If you are tempted to increase your stake to recoup previous losses don't consider doing this betting on a horse under 5/1. It will go straight into the bookmaker's satchel.''
One of his biggest wins at the races saw him collect over £400,000.
If you want to take your betting seriously, then you need to understand these key pointers about assessing form.
''Form contains all the clues to finding winners.''
''The form book is like your map. And the basis to our understanding is what we consider to be irrefutable form. That means truly run races, and horses that make a sustained effort.''
Harris says: ''The future of any race is unknown but we can discern what happened in the past. We need to concentrate on horses which have shown their best. For example, if we have a ten-horse race and only three have made a race of it, we ignore the other seven.''
Sidney Harris' book doesn't answer every question but is does offer valuable advice.
In conclusion he states: ''You're not going to get rich overnight. I've read many books and they often detail little bits of information which benefit my own game.''
