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A syndicate is formed when a group of bettors come together to pool resources, money or skills and place bets as a group rather than individuals. These syndicates can be as small and casual as a couple of friends – or a highly technical and analytical group of professional bettors looking to make serious amounts of money.
Although a syndicate can be just a group of friends pooling their money to afford a bigger stake for a bet, there is a long history of very organised syndicates – especially in the United States – coming together in an attempt to beat the bookmakers at their own game.
The professional syndicates not only pool their money for increased stakes, they pool their own individual skills to find value in the sports markets and bet at just the right time to capitalise on price movements. In this way they are exploiting the odds and timing their selections for bigger returns. Focused analysis of the markets is a big part of the syndicate’s operation.
These kinds of syndicates are also able to use their increased stake potential to bet both sides of a market in an attempt to limit losses and maximise profits.
Professional American bettor William T Walters heads one of the most famous sporting syndicates of all time. He is the leader of a mostly secretive group that has made tens of millions of dollars through their betting systems. One of the main reasons for forming the syndicate was to get around the $20,000 bet limit imposed by Las Vegas bookmakers.