Sports Gambling Hall Of Famer Gives Betting Advice
Jeff Whitelaw, a distinguished professional gambler and soon-to-be inductee into the Sports Gambling Hall of Fame, offers invaluable advice for bettors: prioritize contrarian betting strategies by going against public sentiment.
Whitelaw reflects, “In all my years of placing bets, when I consistently wagered on the same team, they inevitably lost.” He further observes, “As a bettor, I often found success by betting against the public’s favor. Typically, the public gravitates toward favorites and the over; I align myself more with underdogs and the under.”
Throughout his remarkable 35-year career, Whitelaw has maintained profitability in 34 of those years, with a strong emphasis on futures and proposition bets in sports betting. Alongside his contrarian approach, he advocates the importance of maintaining discipline and refraining from chasing losses.
Effective Money Management
Whitelaw emphasizes, “Implementing good money management strategies is crucial. Whether you choose to bet one, two, or three units—establish a consistent unit size—and conduct thorough research before placing any wager. Avoid the temptation to bet simply because a game is airing on TV.”
He acknowledges the challenges faced by contemporary gamblers, particularly in an era dominated by social media and instant access to information. “In the 90s and early 2000s, acquiring information was significantly easier; crucial updates would often take a day to circulate,” Whitelaw explains. “Now, with platforms like X and others, information travels in seconds or minutes. Instantaneous decision-making is crucial given this new landscape. The luxury of gaining an informational edge has diminished.”
However, while the ability to access information has shifted, the efficiency of placing bets has vastly improved. Mobile betting applications now allow users to wager seamlessly, a stark contrast to the days when gamblers were confined to brick-and-mortar casinos in Las Vegas.
Whitelaw: A Model of Integrity in Gambling
One particular incident highlights Whitelaw’s integrity. He once learned that Michael Jordan would miss a game for the Chicago Bulls. Upon entering Caesars Palace sportsbook, he noted that Chicago remained a strong favorite. Rather than exploiting this information for personal gain, he chose to inform Vinny Magliulo, then vice president of Caesars sportsbook.
Magliulo responded graciously, offering Whitelaw the opportunity to capitalize on the information. “I said, ‘Okay Jeff, I appreciate your honesty—go ahead and make your bet.’ When he questioned whether I would adjust the odds, I replied, ‘Not until after you place your wager,’” Magliulo recounted. “I respected Jeff for his integrity. He could have taken advantage of that knowledge to bet multiple times but chose not to.”
Magliulo noted the significance of Whitelaw’s courtesy, as it allowed him to adjust after Whitelaw’s bet, ultimately saving him considerable losses in the long run. “From that point forward, we forged a close friendship,” he added.
Whitelaw remarked on the incident, noting, “The irony is that back then, the courtesy bet he extended was higher than what many sportsbooks would allow today—$5,000—and it won.”
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