My name is Marius Norheim. I’m the CEO of the value betting company Trademate Sports. Personally I’ve made a net profit of $8,6k from my own sports betting. I have been doing live streams and videos of my betting on Twitch and Youtube. I have some good insights into how the sports betting industry works and experience with running a SaaS startup. Ask me anything!

Marius Meling Norheim
Feb 24, 2018

Trademate Sports a SaaS / value betting tool, which compares the odds of more than 100 bookmakers and signal when they make mistakes with their odds which you can exploit. I’ve also made educational videos on Youtube and written articles about betting published on our blog.  I have a MSc from NTNU School of Entrepreneurship, with a technical specialisation in Mechanical Engineering. I’m a fanatic Liverpool supporter. Also I'm Norwegian 😃 

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What is your monthly ROI on those bets? How do you calculate it? Do you predict it somehow for the whole year? 

Mar 3, 8:01AM EST0

My average ROI per bet with my actual stake sizing is 6.3%. Average ROI = Total Profits / Total Turnover (amount wagered across all of my bets). My average flat ROI, if I had bet a flat stake per bet would be 3.2%. I have beaten Pinnacle's closing line by an average of 2.4% per bet. So my stake sizing using the Kelly Criterion has had a pretty significant impact on my results. If you compare my flat ROI vs closing edge I have still been running above what could be expected, but not by that much. I don't predict it no. I just make sure that I'm beating the closing line over time. That is the best indicator of whether or not I'll be making or losing money. 

Last edited @ Mar 5, 5:26AM EST.
Mar 5, 5:23AM EST0
How much time did you put into developing your strategy for Trademate? How did you find the motivation to do it?
Mar 2, 12:18PM EST0

The initial development of Trademate took about a year and was done by Martin and Jonas. 

Mar 5, 5:20AM EST1

Is there any advancement in technology (Data analysis/social media) since Trademate's launch that you think might help or hinder bettors?

Mar 2, 10:07AM EST0

The odds of the best bookmakers will become more efficient over time as more of them start to implement machine learning techniques. Will make it tougher to beat the best bookies over time. But should also make it possible to beat the ones that are lagging behind on technology by even more over the next couple of years. 

Mar 5, 5:19AM EST0
Where and how do you get your insights to make your pick and tip selections, or do you follow specific analysts?
Mar 2, 5:08AM EST0

We do that ourselves. Trademate automatically identifies bookmakers who offer odds that is too high and significantly deviates relative to the sharpest bookmakers in the market. On average we beat the European bookmakers, by 2.2% per bet. Then the key is to get in a large number of bets. 

Mar 5, 5:18AM EST0
With the introduction of cryptocurrency where players get to keep their identity safe, do you think sports betting industry will slowly evolve more towards esports betting? What are your thoughts on it?
Feb 27, 8:44PM EST0

I think that the number of bookies that accept bitcoin and other cryptos will increase. I also think that esports in general and esports betting will increase. However I don't necessarily think either of these will increase because as a result of the other. A lot of bookmakers are putting efforts into improving the Esports offering as it is a very fast growing market and everyone wants a piece of the pie. And I've met some new companies who are setting up bookmakers on the Blockchain. 

Feb 28, 11:20AM EST0
What are some of the best sports betting websites/platforms to bet on Fifa World Cup 2018?
Feb 27, 6:09PM EST0

I don't really see a point in advertising for bookies. Use an odds comparison site and always take the best odds you can find on the market you want to bet on. 

Feb 28, 11:21AM EST0

Do you have any interest in investing in Bitcoins or another cryptocurrency? What's better; sports betting or Bitcoins investment?

Feb 27, 5:04PM EST0

 have not invested anything in crypto yet. It really depends. You can probably get a higher potential multiple on your money if you put $1000 into crypto right now. But if you put it into value betting or arbitrage betting, you can have a larger degree of certainty that you'll be able to turn that $1000 into $5-$10k. IMO unless you have a very good fundamental insight into the technology, then putting money into crypto is to a larger degree gambling than doing value betting or arbitrage betting. 

Feb 28, 11:32AM EST0
Why do different sports betting platforms have different types of odds?
Feb 27, 4:12PM EST0

Some create their own odds. Thus they have different opinions of what the true odds is. Others buy it from aggregators. So then their odds would be more similar. But on top of that they apply different margins to each bet. E.g. One bookie might take $3 for every $100 staked on a Premier League game, another might only take $2. 

Feb 28, 11:26AM EST0
What are some counter-intuitive hacks for sports betting?
Feb 27, 12:39PM EST0

Very general question, so a bit hard to answer. Check out the answer I made about 10 tips to improve your betting. But I'll do my best, so I'll say: If the bookmakers advertise that you should do something. Don't. E.g. Bookies put a shit ton of money into advertising accumulators, which is a terrible idea because the odds you get compared to the fair odds on the game keeps getting worse the more games you add. Or in other words, the more bets in the acca, the edge the house has over you. 

Feb 28, 11:25AM EST0
Has YouTube/Twitch been your key focus since the moment you decided to run as a Trademate Sports company?
Feb 25, 5:18PM EST0

We been running the Youtube channel for a bit above a year. Trademate has been around for longer. It has not been the sole focus of our marketing. And some periods we have been more active with making videos than others. 

Feb 26, 5:16AM EST0
What are your 5 top things that you’ve learned as a Mechanical Engineer who has run for CEO of such a successful company?
Feb 25, 5:09PM EST0

I have not had much use for the Mechanical Engineering part of my education. But the general engineering courses such as Statistics and Math have been very useful.

As a CEO I have learned that it really is an around the clock job versus just being an employee. You think about the company when you wake up, you go to work and you think about the company when you go to bed.

As a CEO you also become more of a generalist rather than a specialist at one specific area, like you can do to a larger degree if you only work with development or marketing. This is a bit different from what I expected coming from an engineering background. 

Feb 26, 5:23AM EST0
Have you ever consider developing any other betting tools for the Trademate Sports or SaaS systems worldwide?
Feb 25, 2:49PM EST0

We continuously add more features to Trademate, recently we added both odds comparison and livescores. There are companies who only do each of these things. So far it has made more sense to include these tools inside Trademate rather than making them standalone tools. 

Feb 26, 5:14AM EST0
What does exactly mean to work for/or as a “SaaS startup”?
Feb 25, 12:58PM EST0

 We sell Software as a Service (SaaS). 

Feb 26, 5:13AM EST0
Who is your favorite soccer player?
Feb 24, 2:11AM EST0

Roberto Firmino

Feb 24, 9:48AM EST0
Do you have any hobbies besides betting?
Feb 23, 3:46PM EST0

Playing and watching football. Huge Game of Thrones fan. Read the books, watched the show and love the board game. 

Feb 24, 9:48AM EST0
Do you think gambling is addicting? What advice can you give to someone who has lost control?
Feb 23, 3:15PM EST0

Seek help from a professional. There are a lot of things in life that can be addictive. With regards to betting I try to leave my emotions out of my decision making. One thing I have found to help is to not pay that much attention to live results on the games I bet on. Rather I keep track of my performance and whether I'm beating the closing line. Then I know that I'm on the right track. I have written an article about the closing line here and why it is the best metric to determine whether ones betting will work in the long-run. 

Feb 24, 9:47AM EST0
Is it possible to make a living out of betting only?
Feb 23, 1:47PM EST0

Yes, Trademate co-founder Jonas Gjelstad has made a living from sports betting. But he is also one of Norway's best poker players, so he already had some money from playing poker when he started. So he could focus on growing his betting bankroll while his poker money paid for his living. To make a living from betting only, it would be best to start out gradually and learning the craft rather than going all-in from the beginning. 

Feb 24, 9:44AM EST0
What do you think of people who ask for money in return for a "sure bet"? Is it a scam, or is there some truth to it?
Feb 23, 11:48AM EST0

Surebets also known as arbitrage bets or surewins are quite well-known as a strategy that works. There are plenty of arbitrage betting softwares out there, that automates the process of finding them. Similiar to what Trademate does for value betting. I would use a service rather than taking it from a "tipster" or individual person. 

Feb 24, 9:42AM EST0
Before founding Trademate Sports, did you bet often and a lot?
Feb 23, 11:07AM EST0

As I mentioned on another answer I did not found Trademate, Martin and Jonas did. I worked on a different startup with Martin while we were studying. At the time he had what would become Trademate as a side project. So then we would sit and place some bets when edges occurred. Before going back to work. 

I did bet a bit when I was little, but I really had no clue what I was doing back then. 

Feb 24, 9:40AM EST0
I imagine people often ask you what to bet on. How do you feel about that? Do you enjoy it, or does it tend to get annoying?
Feb 23, 9:03AM EST0

That is fine :) Football it is, and nothing like finding value on my favorite team Liverpool

Feb 24, 9:38AM EST0
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