Sports Betting Touts: Dangers of Buying Picks from "Experts"
Published:
Jul 24, 2024
,
05:51 p.m.
ET
The nationwide rise of sports betting since the repeal of PASPA in May 2018 has opened up a world of opportunity for fans who want to test their knowledge and intuition. However, the desire to win often leads people down questionable paths. One of those paths has long been buying picks from self-proclaimed betting experts, generally known as “touts.” These people have been known to promise everything from having insider knowledge to unparalleled analytical skills that can guarantee winning bets. For decades, they’ve been claiming their picks are “locks,” “can’t-lose” or other creative ways to mislead consumers into thinking that there’s no chance that the bets won’t win, and therefore they’re worth the price that’s being charged for them.
Back in the 1980s and 90s, ads featuring touts like Stu Feiner were a common sight on television. They hawked their picks using toll-free numbers, enticing people with flashy advertisements, larger-than-life personas and promises of sure-fire wins with insider knowledge. In today's digital age, touts have transitioned to online platforms, offering subscriptions, newsletters and social media updates to reach a broader audience.
What are touts in sports betting?
In sports betting, a tout is someone who sells picks or predictions about upcoming games and events for an up-front payment. Whether individually or as part of a service, touts present themselves as experts, often claiming to have inside information, specialized analytics or unique insights or advantages that the average bettor lacks.
The most common way touts earn is by selling a package of picks over a certain amount of time or for the duration of a particular sport’s season. Other touts may opt to charge on a per-pick basis.
The industry is rife with individuals who exaggerate their skills or outright lie about their past successes. While some touts do offer genuine advice based on research, many rely on flashy marketing tactics and baseles promises to lure in naive, impressionable customers.
What is the difference between a tout and a handicapper?
While the terms are at times used interchangeably, there is a difference between a tout and a handicapper. Pretty much all touts consider themselves handicappers, but not all handicappers are touts. The main difference is the sale of picks, and this often comes to life in the form of marketing and aggressive salesmanship.
Should I pay for sports betting picks?
The short answer is no. Paying for picks essentially turns sports betting into a gamble on top of a gamble. You're not only betting on the outcome of a game but also on the accuracy and honesty of the tout's picks, which adds an extra layer of cost, often referred to as "vig," to your bets. Bettors are already paying a standard vig on all bets, usually around 10% of the potential winnings. For example, with -110 you must bet $110 for every $100 you want to win. That $10 extra is the vig, which is essentially a tax that the sportsbook operator charges for taking the bet. That vig, also known as the “juice,” is how sportsbooks maintain their advantage over customers and make the majority of their profits. It naturally places bettors at a major disadvantage and makes it incredibly difficult to turn a profit in the long term. Paying for picks essentially adds more vig to each bet, as the cost of placing the bet has increased overall.
Many touts promise unrealistic returns, but the reality is that even the best analysts struggle to consistently beat the odds. Unabated highlights that the potential positives of buying picks are rare (often only for extremely experienced and knowledgeable bettors) and are almost always outweighed by the negatives, such as added costs and unreliable predictions.
Are touts actually scammers?
Not all touts are scammers, but the industry does have its share of deceitful characters. Some touts lie about their records, inflate their success rates and at times use tactics such as double-siding, which entails giving different picks to different segments of paying clients to ensure that some always win.
While there are some legitimate handicappers who offer valuable insights based on careful analysis and charge for access to that, the prevalence of scams and dishonesty means that bettors must be very cautious. It's important to research anyone selling picks before committing to a purchase. And even then, approach their picks with skepticism. Many have been known to lie about their picks records and past profits.
Are sports betting touts legal?
Yes, selling picks is a form of free speech, so sports betting touts are legal as long as they don't don't deceive customers or misrepresent their services. Still, the legality of their operations doesn't necessarily equate to reliability or trustworthiness.
Bettors should exercise caution when dealing with touts because even legal operations can be misleading, and the lack of regulation in the industry means it's up to the consumer to verify the legitimacy of a tout.
Famous sports betting touts
Stu Feiner
Stu Feiner, one of the most well-known sports betting touts, built his empire on high-energy sales pitches and claims of unbeatable betting strategies. His larger-than-life persona made him a household name in the 1980s and 90s, though his methods are criticized for their lack of transparency. Feiner currently has his own picks site and also for Barstool Sports.
Vegas Dave
Vegas Dave, whose real name is Dave Oancea, is a controversial figure in the world of sports betting touts. Known for what he outwardly aims to show off as an extravagant lifestyle and high-stakes betting, he has faced legal issues and criticism for his aggressive sales tactics and highly questionable claims of success. Vegas Dave has been caught lying many times and therefore should not be trusted.
Dr. Bob
Dr. Bob, or Bob Stoll, is a relatively more respected figure in the sports betting world, known for his analytical approach to betting. Unlike many touts, Dr. Bob emphasizes research and statistics, making him one of the more credible names in the industry.
