QUESTION – Thank you for taking the time to participate in the Q & A session. Before we start in detail. Would you like to share with everyone who may not know, who you are and your background.
David – I’m the founder and CEO of an Australian sports handicapping site that’s been operating since 2006. We are the market-leading subscription site for professional bettors to publish their plays.
In August of this year we launched Sports Predictor for the US sports betting market. We’ve recruited a select group of professional handicappers and expert bettors focusing on football, basketball, baseball, hockey and PGA golf picks. It’s a very similar business model to what has worked for us for more than a decade – picks that win, experts who educate and staff who help clients get the most out of their memberships.
QUESTION – What and who got you into the prediction analysis industry. Specifically as it relates to your company Sports Predictor and how do you feel it has synergy with the trading industry?
David – I’ve always loved both sports and betting so combining the two was a dream come true. Find something you’re really passionate about and you’ll never have to ‘work’ another day in your life.
The parallels to trading are very strong and include –
Value – you have to consistently be making bets/trades at value odds by identifying factors that the market undervalues. Reality – Perception = Profits.
Risk management – developing a trading plan is crucial so that you can survive losing runs while thriving during the good times.
Discipline – you simply can’t survive without it.
QUESTION – What personal or professional failure/setback have you experienced in your life or professional career that has set you up for later success?
David – Going bust was a good one! Every bettor blows up their bankroll at some stage during their ‘apprenticeship’ and as a young man I was no different. When you’re first starting out you’re inevitably betting too high a percentage of your bank on each bet. You just don’t know it yet. So you’re up against the math and the math remains undefeated.
On top of that you have emotions that can get the better of you during losing runs. As Mike Tyson famously said – “Everyone’s got a plan. Until they get hit in the mouth”. Smart bettors know how they will deal with a losing run before it occurs. That way when it does happen you’re fully prepared. This preparation and mindset is the only way you will be able to maintain discipline during the adrenaline rush of sports betting.
Managing your emotions during winning runs is also crucial. Betting psychology is the largest distinction between amateur and professional sports bettors.
Wiser heads can recommend you bet small and stay focused but everyone I know has had to learn those lessons the hard way. Experience is the best teacher and there’s nothing like going through that yourself for it to really hit home.
A veteran professional bettor I know has seen all kinds of guys go bust over the years despite having an overall approach that is profitable. He’s more of a grinder and has lost count of the number of other professionals that he has outlasted. After two decades in the business he has a simple saying that sums up his own approach nicely – “Never be embarrassed by how small you bet.”
He makes a very comfortable living and decided a long time ago that an aggressive approach wasn’t for him.
Legenday sports bettor Billy Walters went broke a number of times early in his career and learned his lessons the hard way.
“I know what every sucker thinks, because I used to be one. I can assure you that every successful gambler I know has been through some monumental failures on his way to getting there.”
QUESTION– How would you describe what makes a successful sports bettor. And how do you deal with the sometimes negative image that sports handicapping services tend to have. And what makes you different?
David – No two professional bettors are the same yet all share similar characteristics –
Never stop learning.
Respect every dollar.
Bet numbers not teams.
Maintain a long-term mindset whilst consistently refining their approach.
Always shop around for the best available odds.
The negative image of sports handicapping services is pervasive and unfortunately I’d have to say is well deserved. But we’ll be doing our bit to change that perception and all of our team abide by our industry-first Code Of Conduct:
1. Skin in the game
We never release any play unless we’re also betting them with our own money. Believe it or not, there are many cappers at other websites who handicap games but don’t actually bet those same plays. We never release plays unless they meet our strict criteria for value and we don’t dramatically increase our bet units based on previous results.
2. Full transparency
Every pick of every handicapper is published on our website so clients and casual visitors can monitor everyone’s performance.
3. Ongoing education
Our team consistently produces betting previews, advice and strategies to help bettors of various experience levels increase their betting knowledge. We’re here to help educate sports bettors as well as consistently providing profitable investment advice.
Each of those three points probably sound like common sense. But the thing is you can count on one hand the number of handicapping services that tick all those boxes. Our guys bet their own money, publish results, educate bettors, and stick to proven bankroll management strategies. There’s no doubt that this combination gives us a real point of difference.
QUESTION : What do you feel is the role in having a balance all around life in your day to day activities. What hobbies do you enjoy?
David – Work/life balance is hard to achieve in the 24/7 always-on world that we live in. I still really enjoy watching games but you also have to keep in mind that ‘the sweat’ will never impact the result. Once the bet is on the rest is out of your hands. So trying to take the emotion out of it helps reduce the rollercoaster ride but at the same time you still want to enjoy a lot of the games.
As far as hobbies go, the gym is great for both physical and mental health. This is a very sedentary lifestyle so staying active and eating well are essential. Other than that – I don’t watch a lot of non-sports TV but have to say that there are a couple of shows I never miss. Billions and Succession are just fantastic.
QUESTION – What advice would you give to your younger self?
David – Believe in what you do because you may have to do it for a long time before anyone else catches on.
Have the courage to be a contrarian.
Try and have the longest view in the room.
QUESTION – What good or bad advice do you hear often in life?
David – Good advice, It’s only a mistake if you don’t learn something from it.
Good things come to those whose persistence demands it.
Get uncomfortable – the really good stuff happens out of your comfort zone.
Nothing fails like success – don’t get complacent.
Bad advice, Gotta love the Martingale strategy!
Every smart person should go to college
(Good advice – Formal education can make you a living but self education can make you a fortune.)
QUESTION – If you had to give a book or books as a gift to someone, What would you recommend & why?
David – There are a few actually –
The Success Equation – excellent discussion on differentiating skill and luck which are two things many of us conflate.
The Checklist Manifesto – good ‘how to’ on breaking down complex tasks into a simple system.
Principles – outside the box thinking from “the Steve Jobs of investing”.
The Logic Of Sports Betting – fantastic resource for sports bettors of all levels.
QUESTION – When you have lost your mojo or focus, what do you do to get back on track?
David – There are a few things actually –
(1) Understand that losing runs happen. They are literally unavoidable so while you should confront the brutal facts and refine your approach over time, you should never lose faith.
(2) Look at long-term results to reaffirm just how tiny one game, one day or even one week really is.
(3) Take a day off and hang out with my daughters as they very quickly remind me there’s more to life than just sports betting.
QUESTION – If you could have a big billboard with your favorite saying or message on it, what would it be.
You don’t have to be smarter than anyone else, you just have to outlearn them.
Thank you for taking the time for our readers to get to know you. How can our readers contact or follow you on social media?
David – Check out https://www.sportspredictor.com/ and follow us on Twitter@PredictorHQ
We’d love to hear from you!