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The advantages of betting with Intertops
Lazy Sports Betting Tactics
How to beat the bookies in the over-under markets
How to convert between decimal and American odds
How to get an edge in betting
How to test the credibility of a tipster`s record
Kelly criterion method
How to use Kelly Criterion for betting
How Weather Affects Sports Betting
Increase Your Chances of Winning Long Term Betting on Sports
Intermediate and Advanced Sports Betting
Common sportsbetting myths
Advices on Betting Fundamentals
Betting do's and don'ts
Choosing a staking method based on your betting profile
Betting staking plans
Value betting explained
Sports-betting- a game of numbers
Market movement in betting
Types of odds explained
European types of bets explained
American types of bets explained
Martingale Considerations in Sports Betting
In-play betting
Accumulator betting
Mobile betting
A Crash Course in Horse Racing
A Crash Course In Sports Betting
American odds versus decimal odds
Bankroll management
Money management in sportsbetting- odds, edge and variance
Basic bet types explained
Paying for Picks
Betting on winning streaks
Betting psychology- a crash course about aspiring professional bettors
Popular Sports Betting Beliefs
Do you make these 9 sportsbetting mistakes?
Does intuition have a place in sportsbetting?
Exchange betting
Randomness in sportsbetting
Fractional versus decimal odds
Home team advantage analised
How bad at sportsbetting are you?
Reasons to Keep Betting Records
How bookmakers make money
How bookmakers work
How do betting exchanges work
Should You Bet on Multiple Sports or Specialize?
How do free bets work
How does luck influence short term betting
How good are betting tipsters
Sports Betting for Beginners
How loss aversion impacts performance
How many sports to bet on
How Much Should You Bet On a Sporting Event?
Staking-one method to improve your betting
How much you should risk per bet?
How Sports Betting Has Changed Over the Last 20 Years
How To Avoid A Big Sports Betting Loss
The art of multiple betting
The history of lotteries
The value of information in soccer betting
Three careers ideally suited to betting
Tips for Better Sports Betting Results
Types of Online Sports Betting Bonuses
Understanding and managing your risk of ruin
Understanding Horse Racing Bet Types
Understanding Live Betting
Value betting is an essential skill for bettors
Ways to Increase the Percentage of Sports Bets You Win
What are drawdowns and how to manage them
What are the most common mistakes the bettors make
What are the real chances of winning the lottery?
What distinguishes winning from losing betors
What is a handicap soccer betting?
What is the Fibonacci betting system?
What is the Labouchere betting system
What is the Martingale staking system
Why do we gamble? Irrationality and overconfidence
Why patience is an essential trait for any serious bettor
Poisson Distribution: Predict the score in soccer betting
Fixed Staking vs. Variable Staking
Basketball betting: Bet types explained
7 Sure-Fire Baseball Betting Strategies
How Does In-Play Betting Work?
To Parlay, or Not to Parlay?
Wisdom of the Crowds applied to betting
CASINO ARTICLES
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How to Gamble with Dice – Popular Dice Games and Their Variations
How Online Casinos Helped Me Love Roulette Even More
My Top Three Tips for Getting Comps in Casinos
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5 Gambling Tricks You Can Only Use Online
5 LITTLE-KNOWN FACTS THAT AFFECT YOUR AVERAGE HOURLY LOSS IN A CASINO
5 REASONS CASINO GAMES ARE SO ENTERTAINING
5 Things All Casino Gambling Fans Are Sick of Hearing
5 Tips to Managing Your Casino Bankroll Effectively
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5 Rookie Mistakes in Blackjack and How to Avoid Them
7 roulette variations probably you have never heard of
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How to Tell If You’re About to Make a Mistake with Your Next Casino Bet
The 12 Types of People I Meet in Casinos – Analyzing My Fellow Gamblers
10 SURE-FIRE CASINO GAMBLING STRATEGIES THAT WORK
What I Love Most About My Three Favorite Video Poker Games
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What’s Next for Online Gambling?
Using Self-Discipline in the Casino
20 ONLINE GAMBLING TIPS
Going All-In – When to Bet It All in Poker
10 Things I Wish I’d Known About Roulette Before I Started
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Are No-Deposit Bonuses at Online Casinos a Waste of Your Time or Worth Going For?
Are Online Casino Bonuses Worth Taking?
BEATING BACCARAT – WINNING SYSTEMS & STRATEGIES
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Finding the Best Slots Online
Gambling and Poker Playing: 10 Things to Know
GAMBLING GAMES THAT ARE REALLY WORTH TRYING
HOW TO AVOID GOING BROKE AT THE ROULETTE WHEEL
HOW TO GET YOUR FIRST ONLINE CASINO SIGNUP BONUS
How to make a million playing video poker
How to Spend Your Gambling Winnings
HOW TO SURVIVE A BLIZZARD AT THE CRAPS TABLE
HOW TO WIN AT ROULETTE
How to Win Consistently at Casino Gambling
How to Win Consistently at Craps
How to Win Consistently at Roulette
HOW VOLATILITY WORKS IN CASINO GAMBLING
Is It Possible to Play Roulette as a Career (Or Even as a Part Time Gig)?
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MONEY MANAGEMENT STRATEGY FOR YOUR NEXT CASINO TRIP
ONLINE CASINO DISPUTES
SKILL BASED CASINO GAMES: PROS AND CONS
The 5 secret joys of casino gambling
The Benefits of an Online Gambling Environment
The Best Long-Term Strategies for Playing Progressive Jackpot Slots
THE BIGGEST JACKPOTS IN ONLINE GAMBLING
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THE SMART MONEY- LESSONS FROM THE WORLD SHARPEST BETTOR

The Smart Money documents Michael Konik’s journey from your average sports fan to someone who is disappointed when he can only bet $50,000 on a single game. After being shown the ropes by Rick “Big Daddy” Mathews and the Brain Trust syndicate, Konik finds out that picking the right team isn’t the hardest part of professional betting, it’s finding somewhere that will accept your bet.

The first comment to make about Michael Konik’s memoir, The Smart Money, is that it caters to a wide audience. It doesn’t matter if you’re not a massive sports fan or if you’ve never placed a bet in your life, Konik grabs your attention within the first page and keeps hold of it until the very end. 

The basics of betting

The beauty of Konik’s work is that he begins the story as a complete novice and thus if you don’t know what a point spread is or why expected value is important, you learn as you read.

In a similar fashion to Joe Peta in Trading Bases, Konik is quick to point out that if you want to make money from betting you should steer clear of negative-expectation casino games like roulette and blackjack.

The Smart Money is a thoroughly interesting read, but it also serves as a useful guide to anyone who wants to know how to become a professional bettor.

It doesn’t take long for the reader to be immersed in the Las Vegas betting culture and the importance of high limits in professional betting to become apparent. Interestingly, it takes Konik less than a weekend to learn that bookmakers “can’t risk getting hurt by a big gambler who knows what he’s doing” It isn’t long before more complex betting themes such as optimism biasand understanding the importance of line movements and closing oddsbegin to emerge in The Smart Money. One of the most important betting lessons on offer is that “losses are an integral part of being a winning sports bettor. One just hopes to encounter them infrequently.”

Becoming the world’s best sports bettors

As the weeks pass in Konik’s first season betting on football and basketball, his girlfriend enjoys the hotel treatments and life of luxury that comes with being a high roller. Unfortunately for the man placing the bets, there’s a lot of hard work involved.

In addition to maintaining the necessary façade that means sportsbooks will actually accept his (Rick Matthews’) money, Konik must be ready to make a bet whenever called upon - the organisation and commitment required to run a successful sports betting syndicate is made clear from the outset.

The Brain Trust is a profitable syndicate for a number of reasons. A “super computer” programmed to predict results and various contacts feeding valuable information that no one else has are just two key ingredients.

The importance of things like team news, injuries and even changes in the weather is obvious throughout The Smart Money. Perhaps none more so than when Konik finds himself rushing around Ceasar’s Palace to get Clemson at +6 on the Handicap instead of the +4.5 it moves to within a matter of minutes due to their opponents “suspending a couple of linebackers for team violations.” 

The move to offshore bookmakers

It isn’t long before Konik’s betting exploits are well known in Las Vegas. Despite Stevie “The Pencil” and Gino “The Suit” from Ceasar’s Palace accepting that “the smart money could be beneficial to their bookmaking operation” Konik and the Brain Trust move to offshore bookmakers.

Losses are an integral part of being a winning sports bettor. One just hopes to encounter them infrequently. Michael Konik

Although everything with the offshore bookmaker’s seems rosy initially, Konik and the Brain Trust can’t make it through an entire NFL season without being limited and banned from a bookmaker. In amongst some big wins and problems withdrawing money they have rightfully won, the same message appears over and over again; “you can’t win and if you can, you can’t play.”

It takes Konik three years to start up his own syndicate, “The Hollywood Boys.” Working in partnership with “Algo Andy,” Konik uses a combination of past results and his betting expertise to develop a computer program that predicts the score in a football match that is “probably accurate to a tenth of a point.”

The psychology of betting

There are plenty of interesting stories about the ups and downs that come with learning from one of the world’s best sports bettors, but Konik rarely exposes his emotions or talks about the psychology of betting in The Smart Money.

However, in the final few chapters Konik admits “freshly earned money doesn’t help me sleep any better. I still miss my girlfriend terribly.” In amongst his questioning and indecisiveness about whether to continue betting there is a sobering reminder that even the most successful sports bettors sometimes want a normal life.

Time to call it quits

As his computer program “Baby” becomes more efficient, Konik and Algo Andy begin to take advantage of the value offered by adjusting the points spread in the form of Teasers. Although he discovers a new and improved method to make money, Konik eventually decides to stop betting in 2000 - three years after it all began.

The organisation and commitment required to run a successful sports betting syndicate is made clear from the outset.

Much like he learned from the best in the business Rick “Big Daddy” Matthews, Konik passes the gauntlet on to Algo Andy who exetends his reach into most sports, including baseball betting.

Although he draws his memoir to a close with the claim “I’m no longer the smart money,” one thing that isn’t in doubt is that Michael Konik enjoyed a once in a lifetime experience that most bettors can only dream of. The Smart Money is a thoroughly interesting read, but it also serves as a useful guide to anyone who wants to know how to become a professional bettor.

If you want to read more expert betting articles and interesting book reviews, head back to Betting Resources.