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The stockbroker analogy isn't accurate. The amount of money managed is sufficiently large that taking a percentage for managing it is significant. That is not true for selling picks.

Reducing Variance is great and it almost makes it sound legitimate until you think about it. Given what the avg tout service charges the total revenue from selling picks vs what I'd expect someone to be wagering the effect on their variance would be insignificant. If it is significant then they must be making fairly small personal wagers and I'd question why they are so conservative with their own money yet feel comfortable selling their picks.

The only way I'd agree with your points is if we are talking about someone who either charges a very significant amount per season or someone who sells thousands of packages.

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I don't even share picks with my friends.

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Sound like a great guy...

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Wealth is relative. If everyone had a million then being a millionaire wouldn't be special.

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So you dont want your friends to win money, just yourself? Pretty sad life you must lead.