Professional Sports Betting
The concept of betting syndicates must be understood within the activity of professional sports gambling. If you have doubts about this activity and its viability, please check our specific article about ‘professional gambling’.
To go forward, please have in mind this is a viable option for investments. Syndicates are, in essence, a way of organizing more than one individual to bet through some form of cooperation.
Betting Syndicates – The Big Ones
There are companies organized around the capital of major investors, that employ several analysts and teams of mathematicians to organize the bets of a group of professional traders, but this is a very specific meaning of that expression.
Syndicate – the ‘Meaning’ of the Expression
This word has been used for years to describe organized professional betting activity, but in essence, we can say it’s a form of ‘slang’. The word has nothing to do with the meaning that most people associate, i.e. organizations of workers, or a synonym for ‘unions’.
By no means the activity is criminal, but the discrete profile of many organizations do in a way relate the word to the expression ‘crime syndicate’, but that’s where it becomes pure slang.
When you read the word syndicate in the context of sports betting, you should have in mind that this word means nothing but ‘group of professional gamblers’.
Why Syndicates Exist
In essence, they are useful because there are simply too many leagues out there these days, and even a full-time trader can’t focus on more than a few leagues.
For that reason, teams of traders are formed to ‘cover’ more leagues. Whether the trading team is financed by a private investor or not, it doesn’t affect at all the nature of what these punters do, they simply bet professionally.
While big syndicates do hire services that support the trading activities, this is not exactly common practice. Most syndicates are just assemblies of punters that bet together.
Actual Syndicates with Offices
Some punters organize themselves around a common physical space, a land-based office, most notably in UK and other parts of Europe. The advantages of that would be creating a sense of belonging and improve the quality of the working hours of the trader, as having someone to chat and discuss potential bets face to face could prove to be very interesting. These organizations, however, are a very advanced way in comparison with rather informal and more common forms of syndicates.
Forums, Online Syndicates and Informal Cooperation
We have an article about the communities (forums) and informal cooperation between punters, i.e. exchange of tips among other practices such as selling tips.
There are numerous syndicates out there that hire punters in a remote way. That could be done in many ways, the punters could hand over the bets to a trader that operates special betting accounts on behalf of the syndicate, or the punter could operate the account directly.
Syndicates should be understood as an advanced form of professional gambling. The possibilities of organizing skilled individuals around a common goal are very interesting, the potential of 10 traders working together with 5 guys providing services like analysis and quantitative research are exponentially more fruitful that 15 guys working alone from their home offices.
If you like to bet for fun, then you don’t even have to worry about syndicates, but if you have serious goals about betting, then this article should be an interesting guide when you get to hear about these rather discrete and often times secretive organizations.