Monday, December 15, 2008

Beware Handicapping Scam Artists

Many self-proclaimed "professional" handicappers dupe their clients and readers by distorting their winning percentage. The scam involves having a multitude of different size plays over a number of sports. Many handicappers rate their plays by units, stars, dimes, etc. Their contention is that the stronger plays warrant a higher wager, therefore they assign more units, stars or dimes to their stronger plays. But, the real reason behind all the various wager sizes is as follows:

Let's say a handicapper offers selections in pro and college football and basketball. This represents four sports. Let's say the handicapper offers 5, 10, 15, 20, 25, 50 and 100 unit plays in his picks. If you do the math, this handicapper has created 28 different categories, given there are 7 different strength plays over 4 sports. Moreover, if totals are included, there is now 56 categories to monitor. Furthermore, the winning percentages can be broken down by days, weeks or months. There is no end to the various categories that can be created in the quest to project a winning ledger.

Just thinking, what is the difference between a 20 dime and a 25 dime pick? I guess the 25 dimer has a slightly higher winning percentage. I have been at this for 28 years and I wouldn't have a clue how to make such a determination.

Since picking a pointspread winner is basically a 50-50 probability for anyone with no knowledge at all, the odds are that this capper can post a winning percentage in some of the numerous categories over the short term. For example, this capper could be touting 4 wins in last 5 plays with 15 unit plays in college football, 6 wins in last 8 plays for 10 unit plays in pro basketball, 2 wins in a row for 50 unit plays on the total in pro football, 4 winning days in last 6 days, 2 winning months in last 3 months, etc. In other words, it is really easy for a handicapper to "honestly" project a winning resume. The problem is that the capper's overall winning percentage for the season is nowhere to be found.

Don't fall victim to this practice. If a handicapper does not offer their season to date win loss record for a particular sport, the odds are the handicapper has a losing record. While the handicapper is not lying by just focusing on the winning categories, he or she is certainly not being totally honest and forthcoming. Such a practice is termed legal, but unethical. The scammer cappers really take advantage of this gray area.

Not all handicappers are guilty of this practice. If a bettor is considering paying a handicapper for pointspread plays, I strongly recommend that the bettor gets the season to date pointspread record for each particular sport that will be wagered on.

Remember, anybody can experience short term success in picking pointspread winners. Consistent winners are not defined as simply winning days, weeks or months. Consistent pointspread winners are defined as a winning season of plays.