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The battle to stop clever people betting
From The Economist
An inside look at the sports-betting industry, where you can be classified as a “sharp”—a highly skilled player who is often restricted in your betting—and a “whale”—a big-time loser who is more than welcome to play.
Highly skilled players, who know when and what to bet to exploit mispriced odds on the platforms, are profiled based on specific criteria, chased, and restricted in their betting ability. This skews the market and significantly improves the platform’s profitability… (I even wonder if it’s legal to prevent the market from working freely…).
I also learned that some people make a living from this activity—and that there are sophisticated schemes, often in legal gray areas, designed to bypass these restrictions.
Welcome to the highly profitable world of sports betting! Buckle up and enjoy the ride.
(text revise by a llm)
