That's just a negative belief and one that's true for most people but not all. The house (Vegas) wins against most people but not every single individual. But that's why they win 'overall' because the money they take from most people is a LOT of money. Most people aren't sharps or sharks. They're just average gambling Joe's pissing money away. Those are the people the house wins against and since there are so many of them, the house wins overall.
After all for just about every 90 chumps out there, there are only about 10 intelligent, disciplined investors. This is true in every area of life.
Our results are all verified by a 3rd party. You can see that we win some bets and lose some like everyone but at the end of the month, good judgement, research, experience and expertise pays off. That's why despite the ups and downs, there's usually more wins than losses and we win most of our bigger bets (like Houston against GSW and Wizards against Milwaukee Bucks both of whom were away underdogs but ended up easy outright winners) and hence earn a nice return on our investment.
48 winning bets and 29 losing ones in January yielded an incredible 36% Return! Obviously not every month will be as lucrative nor does it need to be. We could do a quarter of that and it would still be a nice monthly return but we usually do better than that anyway.
The house usually wins because most people don't do this with any proper structure or discipline. They just bet random amounts on games (and usually bet too big for their own good) or get emotional and place bigger bets when they lose a few to 'chase' losses. Those people will always fail and not just with this but with any kind of investment. Like anything else, it comes down to your discipline and patience.
When all is done the right way however, it's not so different from investing in stocks or anything else. With that stuff, you also have the risk to win or lose money. But you pay capital gains tax for one thing and also have to wait for some shady CEO to declare dividends and aren't really in the know about what's happening behind the scenes where as the in the world of sports, the media is all over and covers almost everything, so there's a lot more honest information you have on tonight's NBA game (both injuries, scheduling, motivation, previews, etc.) than what's going on behind the scenes in a firm.
Anyway, the biggest reason behind diversifying your portfolio is to minimize risk and to not have your eggs in one basket, is it not? That's exactly why that DOES apply to us and why you can lii dont mate ken this to diversifying your portfolio. Because we only risk a few percentage of the bankroll each night on a few different bets and even then, it's bets on different teams with different styles and in different competitions (like having stocks in different industries in your portfolio). It would be different if we were telling people to bet all their money on one or two games but that's the OPPOSITE of what we do. That would be idiotic and risky. Up until last month, there were 3-4 small bets per night on average, A couple in the NBA, one is College Basketball and some football ones. It's different bets in different avenues and most importantly you're taking SMALL calculated risks.