We are joined by Jack Andrews, co-founder of Unabated.com, to discuss some of the key overlapping ideas found in sports betting and options trading. Jack has been a professional sports bettor for more than 20 years, with experience in many different sports. Jack shares his background of advantaged gambling and how he uses legal means to gain an edge in games of chance and skill.
There is a lot of crossover between the two worlds of calculated risk taking, and we hope to shine a light on the similarities so that sports bettors may feel less intimidated in transitioning to the world of options trading and financial markets.
We explore how sports bettors and options traders can apply the same foundational concepts in both markets, such as the importance of positive expected value, risk management, finding edge, and more.
Using Option Alpha and Unabated to find Positive Expected Value
Technology gives us the power to leverage math and data in real time, unlocking all new possibilities for options traders and sports bettors. It's never been easier to find opportunities and quickly determine if the trade (or bet) meets our criteria. Trade Ideas analyzes the returns of thousands of position setups and loads the current market data for the top performing position setups and compares them looking for opportunities. We call this Options Trading 2.0 and it the new way to trade options.
Every potential trading opportunity in Option Alpha's platform displays the key position details you want to know before entering the trade:Â max profit potential, max loss potential, reward/risk, expected value, probabilities, and more:
Unabated provides a similar tool highlighting your bet's value relative to the closing line:
Plus, you can monitor betting markets in real-time with an odds screen built with an emphasis on identifying market makers. Use pro level odds to stay informed of all betting markets to know not only where the line is, but where the line is headed.
Key Show Moments
00:38 Â Jack's introduction and background
4:14 Â 'Advantaged Gambling' explained: Using legal means to gain an edge in games of chance or skill
7:29 Similarities of sports betting to options trading, and exploring positive Expected Value
10:58 Steve's journey from sports betting to options trading and how to apply key concepts
16:33 Managing risk, building a portfolio, preserving bankroll, and finding positive  EV
22:55 How many bets do you take? Stacking +EV
26:52 Live betting and arbitrage vs Options trade management
38:21 Â Using a quantitative approach to find an edge
45:31 Tracking performance and closing line value vs trading probabilities
51:13 What options traders can learn from sports betting (and vice versa!)
Transcript
