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“I lost $256,000 in a day” EPISODE 2 | Jonas Gjelstad – Professional Sports Bettor


So, starting the year 2016, I’ve now
made a million dollars betting on sports in the Asian markets I’ve had like the best
month in October I topped it in November I topped it in December and I felt like well you know there’s nothing
that can knock me down this, I know I’ve solved
this now, everything is great the amount of bets I’m having like over 3,000 bets a month and
everything is just like amazing I turned 10k into a bit over a million dollars My name is Jonas Gjestad and I’m a
sports bettor, previous poker player basically trying to figure out what I
want in life So, in January I bet for 4.4 million
dollars and I made 357 K dollars but I want to show you something that
happened on the last day of January that’s sort of like set me a bit back This is my month, like just
the full month of January So, bet for 4.5 million dollars profited 326,000 with 7.75 percent which I’m really happy about But the night before the last day I was up 581,000 dollars and I
almost run a 16 percent ROI and then, the last day I lose two 256,000 dollars
in one day so coming off that
last day of January I started February,
which is also a pretty big month I bet for over 4 million dollars
and I lose 347,000 dollars which is almost 10
percent on average per bet but as you can see also
the numbers of bet I had in it’s only 1,200 compared
to all the months where I’ve been rolling
at like 3.5 K over 2k, 2.5 K so again, it’s going to be
higher variance and higher bets this is something where
I think I did a mistake I think I should have maybe
being a bit more cautious and you can see that the next month I decided like, well you know what, like I
actually need to step down so I realized that next month so I placed 776 bets and
I bet 1.5 million dollars and I had another loosing month I lost 110k which is
almost 8% per bet obviously during this period I know like I was
extremely unfortunate but at the same time, also you
see like I’ve showed you earlier I had months where I was
running above about like 10% and it’s sort of it evens
out in the long run which is the most important
thing to think about and this is what separates
like the good from the bad people everyone is good and everyone is happy and everyone thinks they’re flawless
when things are going good but when you go bad, that’s when you can
actually learn from your mistakes and that’s when you
need to put in the hard work going on from there,
you can see I lost 110K then I started off April winning some
and I upped my bets from 1.5 million to 3.3 million and I made over
2k bets and I made 90 K with like a 3% ROI which again then it’s like sort
of feeling like now I’m back at it this is good, and then in May,
last games of the season betting four million making 327 K with
almost 99% felt just great going into the summer like that and then euros were going to start
and I was feeling good about it because I can’t just sit there
and think like oh I lost 256,000 dollars in a day, what if
that’s going to continue happening? because I know like you can go
the other way around so obviously made me
a bit more aware that I need to think about the amount
I’m betting per game and if I want to
have these swings because now I’m starting
to get to a point where I’m quite comfortable
with my living and you know it’s much more
important to have 1 million than to have 1.5 million or 500 K so you rather want to lower the
swings and have like let’s say 75 percent chance of
reaching 1.250 million dollars and a 25% chance of going down to
$50,000 because it’s actually significant
money but you can invest and sort of get a long-term
passive income on and if you invest in real estate or you
know like they’re safer investment than sports betting Sports betting I think is
by far my highest return of investment and I can flip my money over so many
times and still have like over 3 percent return on my money for every
90-minute investment which is like beyond crazy like
when I tell it to people that are involved in other
type of like let’s say stocks or anything like
that they don’t believe it it’s like it’s too good to be true but it’s all about them
being on the right side and knowing what you’re doing
cause if you don’t then you’re losing

Sports Science: The Science of the Lie

May 15, 2019 | Articles | 46 Comments

Sports Science: The Science of the Lie



professional poker players specialize in head games for example a skilled Bluff lie is the bread and butter of every poker player seems like the only way to detect if a world-class poker player is lying is to use a lie detector so we wondered could one of the planet's best poker players actually be a polygraph to find out we dealt in one of the premier poker players on the planet kid poker Daniel Negreanu Daniel's dominance has won him four World Series of Poker bracelets and over ten million dollars in winnings and he's earned most of them money by bluffing some of the world's best poker players poker is just like a lot of sports it's not so much about playing the game as much as it is about playing the man oh no it's all about playing the man your cards are relevant when a guy likes his hand the first thing that he does is it subconscious his eyes will look directly at the chip so you know he sees the flop come out and he does one of these and he doesn't even realize he does it when you see that he where cuz he likes something about what he saw if you were to walk in to just a neighborhood poker game could you never look at your cards and whup everybody I could sit in your neighborhood home game pretend that I'm looking at my cards never look once an absolutely almost guaranteed victory every single time poker players are always looking for tells or subtle signals that give away everything about a player's hand that's why pros must be great at bluffing I call so you must be an expert liar that sounds like a bad thing to admit to but I would say that if I was lying it was probably difficult for you to expect today Daniel better be an expert liar because we've brought in someone who skilled at uncovering deception former Secret Service agent turned polygraph examiner Joe Paula lon the polygraph measures parts of our body we have no conscious control and all of these changes are conducive to a person whose life to make sure our polygraph examiner is honed in we're going to start by giving Daniel an outrageous lie detector test Daniel you're gonna stare straight forward okay I'm gonna blindfold you we're gonna put your knob jex in front of you when I take the blindfold off you're gonna have 30 seconds to look at it absorb it and I'm gonna ask you a question Joe you're gonna tell us whether or not he's lying okay okay to make this test as challenging as possible we brought in someone guaranteed to get a rise out of Daniel just to stare straight forward and I'm gonna ask you one simple question is there a dog in a tutu in front of you yes was Daniel able to throw off the machine or did the polygraph catch his lie is there a dog in a tutu standing in front of you you think who's lying on that one that's a tough machine that's a tough machine to beat our polygraph had no trouble detecting this lie but Daniel was out of his element so it's time to up the ante and see if he can beat the machine where it matters most at the poker table and to really ratchet up the pressure we brought in a guy who's as good as anyone at throwing kid poker off his game World Poker Tour champion Phil Laak Daniel and Phil have played thousands of hands against each other and Phil knows every bluff in Daniels bag they'll play in a head-to-head match with Daniel trying his best to Bluff both man and machine Daniel's been dealt weak cards and Phil gets one question to find out what's in Daniels hand do you have your pair or better right now Phil wants to know if Daniel can make two pairs but he can't even make one will he lie and try to bluff bill yes I actually believe him and I was only calling to continue the experiment I normally I would have folded this I don't really have a real hand Daniel may have been able to fool Phil but what about the Machine was I telling the truth no no you got me he got me I had nothing I might not be able to fool a lie detector test but I can fool Phil Laak that's really all that matters yeah the polygraph got Daniel again because it measures what Phil Logue can't win Daniel Bluffs the line creates stress those stress signals go from the brain to the sympathetic nervous system triggering his sweat glands adrenaline is also released causing his breathing to become more rapid and shallow and the heart pumps five times the amount of blood it normally does causing his blood pressure to skyrocket Daniel's over two against the polygraph but this poker master has won millions by learning how to adjust to his opponents so we're going to give him one more hand to see if he can pull off the ultimate bluff and beat this lie-detector test do you have queen-high beef Daniel doesn't have queen-high beet but will he try to bluff ill again no I call don't you LAN Joe lying or telling the tree it does show some deception when he answered the question do you think I was lying yeah he thinks I was lying he thinks I was mine was i lying yeah according to this figure telling the truth beautiful right okay in my head I tried to think about the way that I would behave and the way that I would think about something if I was telling the truth versus lying and I tried to mimic that a same exact emotion and breathing pattern if you will breathing is a very good indication of deception yeah bringing in a purpose still two very different than it normally would Daniel was able to beat the polygraph but bluffing his poker opponents is really all he cares about really the only skill you need to have is the ability to fool people unless you plan on playing poker with lie-detector tests which I don't think I'll ever do again but whether he's up against man or machine Daniel still might tip his hand when he's looking at a strong pair hi I'm Daniel how are you