While the internet has become the birth place of hundreds (if not thousands) of purported handicapping services, the average sports investor undoubtedly struggles to find an honest and reputable sports investment firm. As a result of the rapid growth of the handicapping industry online, I felt compelled to discuss the characteristics and practices that define an honest sports handicapping service. As always, if you would like to discuss this topic or any other topic germane to sports investing, please feel free to contact me toll free at 1-888-254-0117. I do not employ any secretaries so you will speak with me directly.
Attributes of an Honest and Reputable Handicapper
- The handicapper is documented by a reputable third-party company like The Sports Monitor of Oklahoma. Why would you spend your hard-earned money on a handicapper that is not documented but, rather, merely makes up records that he knows will be appealing to the general public? A sports handicapper owes you the truth about his record, and you should demand full transparency with respect to his performance over the last 3-5 years.
- The handicapper publishes his records, both past and present, on his website so that the betting public has a full understanding of what they are purchasing. I have always said that past results are the best indicator of future performance so having the knowledge of a handicapper’s performance is critical before joining his service.
- The handicapper upholds a policy explicitly prohibiting the resale and/or redistribution of his clients’ personal information to third parties, such as other handicapping services. As a lawyer, I am sensitive to the privacy concerns of my clients and will never breach that trust by selling their personal information (i.e. phone numbers, email addresses) to anyone. You should demand the same level of respect from your handicapper.
- The handicapper adheres to a logical money management system that protects a sports investors’ bankroll from the inevitable fluctuations in the betting marketplace. You should avoid any handicapper that is prone to chasing his losses, that is, he merely doubles down following a loss as opposed to using a well-established money management system.
- The handicapper does not advertise outlandish win percentages that are impossible to achieve over the long-term. As I wrote in a previous blog article, a serious sports investor can pay his or her mortgage by achieving a win rate of 56%.
This is a living and breathing document subject to change so please share any additional thoughts on this very important topic. I look forward to hearing from you as I am sure that there are additional characteristics that I have missed which further delineate a reputable handicapping service.