As someone who has worked in the sports betting industry, it depends a lot on the bookmaker. UK retail bookies hate anyone with any savvy, and will ban their accounts fast. Ditto "weird" betting that looks like it might be machine-run. Their business is taking old folks pensions from them.
OTOH, exchanges love all kinds of gamblers and won't ban you for winning any amount. "Smart money" Asian bookies will bet against anyone because their job is to have a better model than you. (Of course, there is a max bet on any offer, and the odds will move if you hit them hard enough.)
Also, everything in the abstract of this article is either old old news (strategy-wise) or plain wrong in light of the actual business of sports betting. "Implied odds" has been around forever, and real companies make real, consistent returns from arbitrage and "statistical arbitrage" on implied PDFs and have for years.
OTOH, exchanges love all kinds of gamblers and won't ban you for winning any amount. "Smart money" Asian bookies will bet against anyone because their job is to have a better model than you. (Of course, there is a max bet on any offer, and the odds will move if you hit them hard enough.)
Also, everything in the abstract of this article is either old old news (strategy-wise) or plain wrong in light of the actual business of sports betting. "Implied odds" has been around forever, and real companies make real, consistent returns from arbitrage and "statistical arbitrage" on implied PDFs and have for years.
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