We share many things with the rich and famous- hobbies, past experiences, values, etc. But how deep does this similarity go? Is there a chance that your favorite actor also loves wagering on basketball? Could your investment mentor also know how to get good deals on 20bet Brasil during tournaments? The answer is yes! While you might not think the rich and famous enjoy wagers, they do! Let’s get into this exciting reality: 

Why Do the Rich and Famous Bet?

The rich and famous have almost everything that people covet – houses, cars, access to exclusive events, and more. So, what would they want from betting? After all, many people often relate betting with seeking money. But since the rich and famous already have the banks in their corner, why do they place wagers?

  • As An Investment

Has anyone ever told you that they have more money than they want? While people can have more money than they need, there is always room for more coins and notes. And that’s the deal with the rich and famous. They are always looking for new ways to get their hands on more money. So, they invest in technologies, real estate, and anything promising.

As such, betting also meets their money-making requirements. It has a high ROI, and since they can wager thousands of dollars, their payouts rack up to hundreds of thousands. It is another way to increase their asset portfolios, and they are not shy to put their best foot forward.

  • As An Adventure

We all seek thrill in life. Sometimes, it’s simply sleeping five more minutes past the alarm. And at others, it is sky-diving on an island. These moments give us the adrenaline kick that reminds us we are still alive. While you may think the rich and famous have enough of these moments, they do not. They often live within the confines of societal limits, unable to venture out too far for fear of negative reactions. Think about it. Anytime a celebrity does something out of the norm, they face backlash.

So, where can the rich and famous take risks without being at risk of facing the public court? Betting! They can enjoy the adrenaline that comes with the bets in a safe space. And with online betting, this access is at the tap of a button.

Which Stars Place Wagers?

You might be curious about rich and famous people who would try their hand at betting. Well, the list is extensive and includes the following people:

  • Michael Jordan: Not only does he love casino games, but he also enjoys placing wagers on golf. And because he has deep pockets, he sometimes places wagers amounting to $100,000! Of course, he has a lot of luck as he leans on his previous career as a stepping stone.
  • Floyd Mayweather: Many know Floyd for his outstanding performance in his fights. But when he is not setting records or altering bookie odds with pre-game utterances, he’s placing bets. And he once made $1,000,000 after a bet on Oregon against Arizona. He’s also made a lot more money from other wagers.
  • Michael Phelps: In his heyday, Michael set standards in swimming. But many did not know that he also had a passion for poker. He’s been placing wagers on it for over a decade. And as poker players know, only the great players have what it takes to keep a career going for over a decade.

These stars are the tip of the iceberg. Many other stars have revealed their betting habits, why they do it, and how they succeed.

How to Bet Like the Rich and Famous

Is there a secret to their successes? Not quite. It’s all about the following principles:

  1. Only wager on games you understand: Knowledge about a game increases your winning chances. So, before wagering on football or any other game, ensure you understand how it works. You can do this by watching matches and reading about the game. It gives you a much better winning chance.
  2. Do your research: Going by what other people say is a sure way to reduce your winning chance. Instead of using this shortcut, analyze the teams going head-to-head. Dig up their past performances and use these and current metrics to predict the game’s outcome.
  3. Have a budget and stick to it: Even though the rich and famous can get away with spending millions on games, they seldom do so. Betting has no guarantees, and you can lose the money you put into a game. Start by understanding what you are comfortable with losing. Then carve out a budget based on this, e.g., $500 a month.
  4. Start small and avoid being greedy: Seeing people win a lot of money can push you to invest a lot in games. But that is a move that can cost you gravely. Instead of jumping in, start with a small budget for a few games. Keep records of your wagers so you can learn from your mistakes. And once you get the hang of things, you can slowly increase your wagers.

Also, be patient with the process. Before they won millions, the stars had to make do with smaller wins.