How I Won a Whopping $63.60 Betting on Sports
Bloomberg Businessweek|January 27 - February 03, 2020
The handicapping service Jambos is designed to give gamblers a leg up. It might look completely different after the Super Bowl
IRA BOUDWAY With Eben Novy-Williams
How I Won a Whopping $63.60 Betting on Sports

My experiment as a Jambos bettor began on New Year’s Eve. It didn’t get off to a great start. Jambos is a handicapping service, known to sports bettors as a “tout,” that sells picks for a fee; I paid $250 for a week’s worth. Every day around 11 a.m., Jambos would alert me that the day’s betting suggestions were available. There might be a handful or dozens, depending on the season and the schedule. On this day there were 13, including that the Kentucky and Virginia Tech football teams would score fewer than 47 points combined in the Belk Bowl.

Picks in hand, subscribers place the suggested wagers with bookmakers of their choice. Then, in theory, because Jambos has crackerjack statisticians running elaborate models, bettors win more often than they lose.

My plan was to bet on every wager that Jambos suggested in a week. Bloomberg Businessweek would cover any losses, and profits would go to charity. I sold this to my editors as a firsthand exploration of the mainstreaming of the handicapping business, and, somehow, they said yes.

Sports betting has come out of the shadows in the U.S. since a Supreme Court ruling in 2018 that opened the way for the industry outside of Nevada. Fourteen states now allow sports gambling. Together, they’ve taken more than $15 billion in wagers since the ruling, according to the American Gaming Association. Sports leagues, which fought against legal betting for years, are signing marketing deals with casinos.

When Jambos began selling picks in August, it promised to be a new kind of tout for a new era of sports betting. Would I, a novice, be able to execute the Jambos system? (Sorta.) Would Jambos live up to the hype? (Kinda.) Would I make money? (Yes.) Would I find myself frantically scrolling through my phone for a bookie that would give me under 47 on the Belk Bowl? (Yes.) Would it be any fun? (Do you like spreadsheets?)

This story is from the {{IssueName}} edition of {{MagazineName}}.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

This story is from the {{IssueName}} edition of {{MagazineName}}.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM BLOOMBERG BUSINESSWEEKView all
Instagram's Founders Say It's Time for a New Social App
Bloomberg Businessweek US

Instagram's Founders Say It's Time for a New Social App

The rise of AI and the fall of Twitter could create opportunities for upstarts

time-read
4 mins  |
March 13, 2023
Running in Circles
Bloomberg Businessweek US

Running in Circles

A subscription running shoe program aims to fight footwear waste

time-read
3 mins  |
March 20 - 27, 2023
What I Learned Working at a Hawaiien Mega-Resort
Bloomberg Businessweek US

What I Learned Working at a Hawaiien Mega-Resort

Nine wild secrets from the staff at Turtle Bay, who have to manage everyone from haughty honeymooners to go-go-dancing golfers.

time-read
10 mins  |
March 20 - 27, 2023
How Noma Will Blossom In Kyoto
Bloomberg Businessweek US

How Noma Will Blossom In Kyoto

The best restaurant in the world just began its second pop-up in Japan. Here's what's cooking

time-read
3 mins  |
March 20 - 27, 2023
The Last-Mover Problem
Bloomberg Businessweek US

The Last-Mover Problem

A startup called Sennder is trying to bring an extremely tech-resistant industry into the age of apps

time-read
10+ mins  |
March 20 - 27, 2023
Tick Tock, TikTok
Bloomberg Businessweek US

Tick Tock, TikTok

The US thinks the Chinese-owned social media app is a major national security risk. TikTok is running out of ways to avoid a ban

time-read
10+ mins  |
March 20 - 27, 2023
Cleaner Clothing Dye, Made From Bacteria
Bloomberg Businessweek US

Cleaner Clothing Dye, Made From Bacteria

A UK company produces colors with less water than conventional methods and no toxic chemicals

time-read
3 mins  |
March 20 - 27, 2023
Pumping Heat in Hamburg
Bloomberg Businessweek US

Pumping Heat in Hamburg

The German port city plans to store hot water underground and bring it up to heat homes in the winter

time-read
3 mins  |
March 20 - 27, 2023
Sustainability: Calamari's Climate Edge
Bloomberg Businessweek US

Sustainability: Calamari's Climate Edge

Squid's ability to flourish in warmer waters makes it fitting for a diet for the changing environment

time-read
4 mins  |
March 20 - 27, 2023
New Money, New Problems
Bloomberg Businessweek US

New Money, New Problems

In Naples, an influx of wealthy is displacing out-of-towners lower-income workers

time-read
4 mins  |
March 20 - 27, 2023