Darren Rovell, CNBC sports business reporter and handicapping skeptic, posted an article on tout Adam Meyer and his website, RealMoneySports.net. ¬†Meyer, as you may know, has surprised many by advertising his sports pick selection service behind home plate at Florida Marlins games. The visual of a tout’s advertisement in a stadium where games are being played is somewhat shocking and appears to be unprecedented. But Meyer’s advertising strategy isn’t the most interesting – or surprising – part of Rovell’s article.
Adam Meyer won big on the Kentucky Derby. Reportedly, he put $25,000 on Animal Kingdom to win and the bet paid $543,000. Meyer has a photo of the winning tickets to verify his claim. But those aren’t the really surprising numbers in Rovell’s column on Meyer.
Meyer goes on to claim that he has more than 11,000 people who pay $199 a month for his handicapping selections which gets them 15-20 picks a week. 11,000 subscribers at $199 per month equals $2,189,000 in revenue per month for Meyer’s sports service. Or $26,268,000 in revenue per year. But that’s not all.
There are a “group of bettors” that pay Meyer $10,000 for “even more games.” He doesn’t quantify how big the group is but let’s just say, conservatively, it’s another 50 people. 50 clients at $10,000 per subscription and Meyer adds another $500,000 in revenue.
Lastly, there is the Platinum Club. Again, according to Meyer, he has 67 gamblers in his Platinum Club who pay . . . wait for it. . . $250,000 per year for an all-access pass to the mind of Adam Meyer. If you have 67 members paying you $250,000 a year, you’re generating another $16,750,000 in annual revenue.
So, if we add up all the self-reported revenue claimed by Adam Meyer and reprinted by Darren Rovell, we get $43,500,000. That’s 43 million, 500 hundred thousand dollars in revenue per year claimed by a tout. And, of course, he says he bets all the plays he recommends and has a 59.7% win rate so he’d be making even more money in winnings from his own plays.
If we are to believe these numbers, Meyer would be making more than any NFL player. He sails past Peyton Manning who made a mere $30M last year. He makes more than Alex Rodriguez who only pulled in $32M. He also bests Manny Pacquiao who also scraped by with just $32M. Heck, if Rovell’s article is to be believed, Meyer made more money than Tom Hanks last year who earned just $30M. About the only celebrity we can find who earned more than Meyer – according to his self-reported numbers – is Johnny Depp. And while Depp made $50M, we don’t know what Meyer allegedly made by betting his own selections, so he may have even claim to have earned more than the Pirates of the Caribbean star. And who knows, since¬†Meyer says he has clients who are “famous doctors, lawyers, and actors,” maybe Johnny Depp calls Meyer to get down on a Marlins / Pirates game.
A tout claiming $43M in annual revenue is surprising – even by tout standards.¬†Will any media outlet follow-up¬†to attempt to verify any of Meyer’s claims? We can only hope.