Gambler
New Contributor
I'm 24 from outside the US. I will be working as a data scientist starting in Jan 2018.
I've spent the past 6 months building a betting system for soccer matches. My data science & Machine Learning (ML) background exposed me to the opportunity of possibly creating a software system that can produce positive ROI & become a productocracy.
The business opportunities:
Version 1 -
Find investors to invest $$$ for a fixed time period, with a promised capital return on investments.
Use ML to predict the outcome of soccer matches.
Bet using the system I've developed.
Pay back investors, pay taxes, keep the left over profits.
Version 2 -
Use ML to predict the outcome of soccer matches.
Sell match predictions to punters who bet on soccer matches using a saas model.
Customers to be found on soccer betting Facebook groups. (I currently run one with over 25000 members).
The details:
The betting system consists of a few moving pieces that I've developed to automate the betting process.
The system can scrape details about upcoming games.
Update the database of past matches used to train the ML algorithms.
Predict outcomes of upcoming games.
Create N random betting tickets based on the expected outcomes.
Automatically log onto & bet on the betting website, if given account credentials.
Check how predictions performed (calculate ROI) after the matches.
Doing all this for 10 soccer games, creating 1000 randomised betting tickets would take around 30 minutes. Which is pretty neat considering how complex each of the steps can get.
2. The CENTS
Control - I own & control the betting system (pro).
I do not own the betting websites & stand the risk of being shutdown by them should they feel that I'm doing something illegal (con)
Entry - Lol, building something like this takes skill, time & brains, so that's a pro.
Plus, the potential market is big enough for multiple players.
Need - gambling is a multi billion dollar industry (pro). People are willing to pay for something that has a small chance of making them big bucks.
Time - In its current form, the system is fully automated. It just needs the user to point it to the right games to play, give it credentials & tell it how many tickets to purchase. (Pro)
Offering it as a service would require a lot more work though, however by it's nature it is highly automatable.
Scale - Even though the odds of making a fortune quickly are still rather small for the end user, it could be easily scaled to produce good returns for the owner.
My current limitations:
1. Fear.
I've only been testing it will small betting amounts of my own money. This has limited me from fully pushing it to its limits & getting a true representation of how good of a return a determined player could make
Plan to deal with this: implement back testing using historic matches & betting payouts so that can test true ROI in a 'safe' environment.
2. Internet access.
Believe it or not, I only have sporadic internet access where I am. I've mostly been using my university's internet after classes for all the coding required.
Plan to deal with this: Will be buying a mobile wifi setup this Christmas so that I have constant internet at home.
3. Me me me mindset.
I've spent most of my time dreaming about how this system could make me rich.
Need to start really thinking about providing ample value to the world.
Why this niche:
It's funny how I don't even like watching soccer games. We had to build a light weight soccer predictor for the Soccer World cup in June 2018, while it was being held in Russia.
A friend told me about this betting platform for soccer matches, I checked it out & saw an opportunity.
So I might not be passionate about soccer, but I do love working with computers & taming what seems impossible.
I also do not look forward to serving life imprisonment in a cubicle.
Why I created this thread:
1. To hold my self accountable as well as track my own progress as I continue to work on this potential fastlane vehicle.
2. As a show of gratitude to MJ, who's taken the time to share his lessons with the world.
All feedback, questions & suggestions will be appreciated.
I've spent the past 6 months building a betting system for soccer matches. My data science & Machine Learning (ML) background exposed me to the opportunity of possibly creating a software system that can produce positive ROI & become a productocracy.
The business opportunities:
Version 1 -
Find investors to invest $$$ for a fixed time period, with a promised capital return on investments.
Use ML to predict the outcome of soccer matches.
Bet using the system I've developed.
Pay back investors, pay taxes, keep the left over profits.
Version 2 -
Use ML to predict the outcome of soccer matches.
Sell match predictions to punters who bet on soccer matches using a saas model.
Customers to be found on soccer betting Facebook groups. (I currently run one with over 25000 members).
The details:
The betting system consists of a few moving pieces that I've developed to automate the betting process.
The system can scrape details about upcoming games.
Update the database of past matches used to train the ML algorithms.
Predict outcomes of upcoming games.
Create N random betting tickets based on the expected outcomes.
Automatically log onto & bet on the betting website, if given account credentials.
Check how predictions performed (calculate ROI) after the matches.
Doing all this for 10 soccer games, creating 1000 randomised betting tickets would take around 30 minutes. Which is pretty neat considering how complex each of the steps can get.
2. The CENTS
Control - I own & control the betting system (pro).
I do not own the betting websites & stand the risk of being shutdown by them should they feel that I'm doing something illegal (con)
Entry - Lol, building something like this takes skill, time & brains, so that's a pro.
Plus, the potential market is big enough for multiple players.
Need - gambling is a multi billion dollar industry (pro). People are willing to pay for something that has a small chance of making them big bucks.
Time - In its current form, the system is fully automated. It just needs the user to point it to the right games to play, give it credentials & tell it how many tickets to purchase. (Pro)
Offering it as a service would require a lot more work though, however by it's nature it is highly automatable.
Scale - Even though the odds of making a fortune quickly are still rather small for the end user, it could be easily scaled to produce good returns for the owner.
My current limitations:
1. Fear.
I've only been testing it will small betting amounts of my own money. This has limited me from fully pushing it to its limits & getting a true representation of how good of a return a determined player could make
Plan to deal with this: implement back testing using historic matches & betting payouts so that can test true ROI in a 'safe' environment.
2. Internet access.
Believe it or not, I only have sporadic internet access where I am. I've mostly been using my university's internet after classes for all the coding required.
Plan to deal with this: Will be buying a mobile wifi setup this Christmas so that I have constant internet at home.
3. Me me me mindset.
I've spent most of my time dreaming about how this system could make me rich.
Need to start really thinking about providing ample value to the world.
Why this niche:
It's funny how I don't even like watching soccer games. We had to build a light weight soccer predictor for the Soccer World cup in June 2018, while it was being held in Russia.A friend told me about this betting platform for soccer matches, I checked it out & saw an opportunity.
So I might not be passionate about soccer, but I do love working with computers & taming what seems impossible.
I also do not look forward to serving life imprisonment in a cubicle.
Why I created this thread:
1. To hold my self accountable as well as track my own progress as I continue to work on this potential fastlane vehicle.
2. As a show of gratitude to MJ, who's taken the time to share his lessons with the world.
All feedback, questions & suggestions will be appreciated.
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Access Restricted: Unlock 1,000,000+ Posts
Stop Peeking Through the Keyhole.
Open the Door.
You hit a wall because the best advice isn't free—it's earned. Since 2007, MJ DeMarco has been active here daily (99.9% active rate), building a war room for entrepreneurs who refuse to settle for mediocrity.
- Active Daily: Life-changing content posted dozens of times every day. No dead threads.
- MJ's Inner Circle: Direct access to the author of The Millionaire Fastlane.
- Vetted Network: Connect with founders scaling to 7 and 8 figures.
- Proven Roadmaps: Strategy over motivation. Execution over "hustle porn."
"SCALED TO 6-FIGURE MONTHS"
"Tips and advice here saved me from huge mistakes, others allowed me to scale my business to 6-figure months."— User MitchC
"INSANE QUALITY OF PEOPLE"
"The number of high quality people I've met from this forum has been insane. All of it predicated on building real value."— User Richard Peck
"You are the average of the five people you surround yourself with."
Are you surrounding yourself with success?
