What exactly is a betting syndicate?
Simply put, a betting syndicate is a group of people working together in an effort to quickly identify value in the odds, capitalise from price movements, and make a living through sports betting.
These organisations come in all shapes and sizes, though they all share the same mission. To profit from a mostly ignorant betting public.
"Bets may become mispriced due to a mistake on behalf of the bookmakers, or in response to the uneducated betting public."
The way betting syndicates approach sports betting is comparable to a day trader or hedge fund manager. Members spend upwards of seventy hours a week analysing betting markets and watching for price movements across numerous bookmakers.
A betting syndicate can have many different methods of operation, but the primary concept is identifying mispriced assets and exploiting them. Bets may become mispriced due to a mistake on behalf of the bookmakers, or in response to the uneducated betting public.
The professional price shoppers recognise these exploitable odds through sophisticated analysis of past events and weighing competitor’s strengths and weaknesses.
If their analytics are accurate, exploiting weak prices is a walk in the park. They merely wait for the odds to reach a point when the implied probability is less than the actual likelihood determined by their process, and then jump on any wager that carries positive value.
In fact, they spend no time at all trying to handicap winners. No matter what fluctuations of the outcomes take place during any small sample size, as long as they stick to the math, they can expect to profit over the long run.
Betting syndicates place hundreds of bets per day to the tune of hundreds of thousands of pounds. They bet on any sporting event under the sun. As long as the price has value, they attempt to bet on it.
"If their data preparation and modelling is sound, the math will work itself out over time, leading to significant profits for the syndicate."