Whale sports betting is the activity of placing outsized bets, typically on major sporting events. The term “whale” comes from casino gaming, where it is used to describe high rollers. Sports bettors who engage in whale sports betting are often called whales themselves.
Despite being a multi-billion dollar industry, whale sports betting remains relatively unknown to the general public. This is due in part to the fact that most bettors place their wagers through online sportsbooks or local bookmakers, which don’t always offer the best odds for whales. As a result, whale sports betting often takes place away from the public eye, with participants negotiating directly with bookmakers or placing large bets through offshore sportsbooks.
One of the most high-profile cases of whale sports betting in recent years involved an Australian punter named Paul Frisch. In October 2016, Frisch placed a $2 million bet on Germany to beat Brazil in the World Cup semi-final. Germany won the match 4-1, resulting in a $8 million payout for Frisch.
While whale sports betting can be profitable for those who hit big payouts, it can also be very risky. In 1992, Las Vegas casino owner Steve Wynn lost $7 million when his heavily favored Los Angeles Lakers lost to the Chicago Bulls in the NBA Finals.
Nevertheless, whale sports betting is a growing industry that is attracting more and more attention from professional gamblers and everyday bettors alike. With online sportsbooks offering better odds and more options than ever before, whale sports betting is poised to become even more popular in the years ahead.
LAS VEGAS — For the second time in as many days, a large bettor or group of bettors has successfully taken Las Vegas sportsbooks for a significant amount of money.
On Monday, a $1 million wager on the Denver Broncos led to an approximately $200,000 win for the bettor or group of bettors. And then on Tuesday night, a whale placed a $3 million wager on the Golden State Warriors, resulting in a roughly $1 million win for the gambler or group of gamblers.
“We got absolutely annihilated last night,” said Jay Kornegay, vice president of race and sports operations at the Westgate Las Vegas SuperBook.
Kornegay said that his book lost $1.5 million on Tuesday night’s games alone, which is significantly more than they would have lost if they had simply taken the other side of all those bets. In fact, Kornegay estimates that nearly 80% of sportsbooks around town suffered losses on Tuesday night as well.
And so while it may seem like there are some incredibly lucky (or perhaps skilled) sports bettors out there right now, it’s really just bad luck for the books.
“These big plays just don’t come along very often, but when they do it can be a real killer,” Kornegay said.
Whales, as they’re known in the betting world, can be a bookie’s worst nightmare. Bettors who consistently wager large sums of money, called whales because of their rarity and size, can cause havoc on an online sportsbook’s bottom line.
A whale is usually defined as a bettor who places at least $5,000 in any one bet or series of bets. But there is no real cutoff point for what constitutes a whale; it really depends on the bookie’s business model and how much money the bettor is willing to risk.
In the sports betting world, a whale is anyone who can move the lines. Bookmakers are always on the lookout for whales because they can have a major impact on the odds – and ultimately, the bottom line. When a whale comes along and starts betting big bucks at one or more books, it can throw all of their calculations out of whack.
The arrival of a whale can also cause bookies to change the odds on individual games simply to try to reduce their potential losses. This, in turn, can create opportunities for savvy bettors who are able to spot these changes before placing their bets.
In some cases, a whale may even manage to swing the odds in his or her favour by betting heavily against one side. This can often lead to some very costly payouts for bookmakers if they happen to get it wrong.
It should come as no surprise that bookies loathe whales with a passion and do everything they can to avoid taking their business. Unfortunately for them, there’s not always much that can be done when a whale comes calling.
The rise of online sports betting has made it easier than ever for whales to make their presence known. With offshore sportsbooks now offering dozens – if not hundreds – of betting options each day, it’s easier than ever for whales to move the lines by betting large sums on multiple games simultaneously.
This has left many bookies struggling to stay afloat in what has become an increasingly competitive industry. In some cases, they have been forced to close their doors completely as a result of heavy losses incurred by whales wagering massive sums of money online.
*It’s important to know how to spot a whale play in sports betting so that you can avoid getting taken down by one.
*A whale play is a bet that is much bigger than the average bet size for that particular game. Whales tend to make these massive bets when they’re sure of a particular outcome, and they often hope to take down smaller players who don’t have as much knowledge about the game or the teams involved.
*If you’re not familiar with the teams involved in a particular game, it’s best to stay away from any high-risk bets, especially if the odds are against you. Avoid placing risky bets on games that you don’t have a lot of knowledge about.
*There are some key signs that can help you spot a whale play. Things like large wagers on a relatively unpopular team or an unusually high volume of wagers on one specific outcome can be indicative of a whale at work.
*Keep an eye on news stories and social media chatter leading up to big games as well. If there’s been any insider information released or if there’s been a lot of speculation in the betting community, it’s likely that there’s a whale lurking around ready to take advantage of less informed bettors.
*In general, it’s always safest to stick to conservative bets until you have a good understanding of how the games work and what the risks are. Don’t put all your eggs in one basket, and remember that even if you lose a small bet, it’s not the end of the world. Avoiding high-risk bets is always the smartest strategy when starting out in sports betting.
When you think of whales in the ocean, you likely think of the largest creatures on the planet. They are impressive animals that play an important role in the ecosystem. In sports betting, a whale is someone who likes to bet large sums of money on games.
Whales are not just casual bettors – they are usually very knowledgeable about sports and betting strategies. They also have a lot of money to burn, hence the term “whale”. Because they can afford to lose a lot of money, whales often have a significant impact on the odds for a given game.
A single whale bet can move the line significantly, which means that bookmakers always pay close attention to their movements. If you want to beat the bookies, it’s helpful to know where the whales are placing their bets.
There is no precise definition of what constitutes a whale, but most experts agree that anyone who bets more than $1,000 per game is considered a whale. Some bettors may wager even more than that depending on the sport and the stakes involved.
Whales can be found in all types of sports betting markets, but they are particularly prevalent in football and basketball. In these sports, there is often a great deal of money wagered on each game, making it easier for whales to move the line.