How to become a professional sports bettor
Bob McCune, Legendary Sports Handicapper, Bettor and Author For professional sports bettors, a long-term winning percentage of around 55 percent is ideal. In. 1. Set Goals · 2. Keep Track of Your Betting Records · 3. Learn to Manage Your money Efficiently · 4. Never Let Your Emotions Take Over · 5. Practice Discipline · 6. Six tips for becoming a sharper sports bettor · Know your bet's break-even rate · Break-even rates for various money lines · Shop around for the. ACTFOREX REVIEWS
For further, detailed guidance, check out our article on sports betting strategies. How Not to Get Gubbed Another thing bettors should always look out for is gubbing. Gubbing is when a bookie limits your access to promotions like free bets or deposit bonuses — some bookies even limit bet size. This often happens to successful bettors who win large amounts of money through matched betting or arbing, but is sometimes simply due to the fact that you have won too much money. A good way to avoid this is to use betting exchange sites , as you will be betting against other punters, not the bookie themselves.
For more information, head over to our article on gubbing and how you can avoid it. Personal Traits Needed for Professional Sports Betting In truth, there are no specific requirements for anyone seeking to become a professional bettor in sports.
Any determined person could succeed. With that said, there are certain traits that one may want to work on if betting like an expert is the end goal. The most obvious is having a real interest and knowledge in sports.
You don't necessarily need to be a hardcore fan — and perhaps, you may not even want to be. After all, it is incredibly important that you do not let your emotions interfere with your predictions. In addition, the promise of money may not always be enough to keep you hooked. Knowledge is also incredibly important. Getting used to working with numbers is also crucial.
Another important trait is having the ability to control yourself and not let things get out of hand. It's important to always remain disciplined and not to bet beyond your means. If you don't reason logically and allow yourself to get carried away, things can easily go south, leaving you with a significant dent on your earnings.
Maintaining a realistic outlook is also important. Yes, betting can lead to big wins, but it takes a lot of time and skill to become a real expert. As with anything else, good things take time to develop; patience, therefore, is a virtue here. Finally, many ask if attending courses is a necessity. It is not, but if you do have the time to enrol in one, it can't hurt either. Betting studies typically teach the average player a few tricks and skills that will almost certainly boost your abilities.
Set Goals In order to track your progress and keep your spending in check, you should set specific goals and work towards them. By doing so, you can track just how much more you would like to win. This can also be done by setting goals for each sport you choose to bet on, by placing your largest goal on the sport you know the most about. Goals for the month are also doable, although not as recommended, due to the unpredictable nature of sports betting.
Keep Track of Your Betting Records Improving your tactics is easier if you keep a record of your most and least successful bets. Keep an eye out for patterns in your wins and losses. For instance, do you specialise when picking favourites or the underdogs? Do you typically go for multiple small wins or a few, scattered large wins? Are there certain days and times during events that seem to bring in, or not bring in, money?
Analyse your strengths and other patterns, and use these to your advantage when placing your next bet. Learn to Manage Your money Efficiently All punters would benefit from sticking to a staking plan. In order to manage your betting funds, you will need to set specific budgets and choose how much you are able to stake on each bet.
If you spend more than you can afford to, you risk losing everything — and if you spend less than you need to, you will limit your ability to earn more. In professional sports betting, you cannot afford to take major risks, as your earnings depend on your every move; hence why bankroll management could make or break your career as a professional bettor, even if your analytical skills are off the charts.
Bookmakers will always adjust the numbers based on the market and there is a chance. Select best online betting sites Every professional bettor will tell you that this can be a headache if you pick the wrong bookmaker. Most bookmakers in the world will ban you if you will constantly win and you should always pick a bookmaker with low margins. Always bet with trustworthy and leading betting sites. I saw skilled bettors who could become professional sports gamblers, but without any strategy.
They lost whole money in 2 months, despite they were winning in the other 10 months. Track and analyse your performance Anyone serious about betting will track his records and measure predictive skills. The best way to do this is to look how you do against closing odds and by tracking other important information, like yield, profit, etc. CLV will show you if you have the edge over the market and if you have constantly positive CLV, you will be a winner on the long run.
It is also very important to control emotions. Never celebrate when you win and never panic when you lose. Learn and adopt Things are changing quickly. Professional bettors are willing to learn , improve and adapt to new situations.
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Over time, the two numbers will converge, but being completely in step with your EV is rare. Your bankroll is always going to be fluctuating around your EV. This is where the reality of being a Professional Gambler really diverges from the fantasy of it.
To most people, making a living from betting sports might afford them the cars, home, and lifestyle that they desire. However, in truth, much like taking money out of an investment, there is a great opportunity cost if you operate that way. The best thing you could buy with your winnings is a bigger bankroll.
If you remove money from your bankroll to fund discretionary spending, you are removing tools from your toolbelt and removing future leverage you have in betting. Eventually, you may reach a point where bankroll size relative to what you can actually wager makes further bankroll growth inefficient. How A Professional Gambler Handles Losses As mentioned, a key component of the Professional Gambler mentality comes from your ability to the ups and downs of the job.
However, your ability to handle losses is far more important than your ability to handle wins. Put more work into your mental fortitude for dealing with losses than any other mental aspect of your game. It is Never a Material Loss A big trap bettors fall into is thinking about money lost in terms of opportunity cost to something they could have purchased with that money.
If you view your bankroll money in terms of purchases you needed to make using that money, then it was never really part of your bankroll. Any gain or loss in your bankroll is not representative of any material object. Focus on that increase in EV rather than the decrease in AV. It will do wonders in terms of accepting a loss, even a gut-wrenching bad beat. However, what if you have to deal with a punishing string of losses.
Every bettor goes through this. How you deal with an extended downturn is another major component of being able to handle losses. Here are 3 ways to deal with a losing streak. Pause : Take a break for a day, a week, several weeks.
However long it takes for you to no longer feel like you are cursed. Adjust Your Stakes : Lowering your bet size is sub-optimal for bankroll growth, but it is better than raising your stakes to compensate for recent losses. Shift Your Focus : If recent losses are in your head, get them out of your head by focusing on something else. Focus on a hobby, or focus on betting a different sport. When your confidence returns, resume your betting.
Notice the advice did not include re-evaluating your angle, work to see if the market was now more efficient, or try to find new outs for the bet. Those steps should be taken frequently whether you are winning or losing. This brings us to the next necessary mental component of being a Professional Gambler. How a Professional Gambler Handles Wins While less important than how you handle losses, the way you handle wins is still imperative. That is just the way the human brain works.
The dopamine high from significant wins tends to decrease over time. Assess Your Results The natural intuition is that when you are winning, you do not want to change a thing. However, if you work just as hard on the way up as you do on the way down, you will be in much better shape in the long run. Never let winning be your deodorant. Be vigilant about whether there are ways you can improve your edge despite good results.
Betting earlier. Finding new outs. Whatever it takes to continue to improve. Buy More Bankroll As I mentioned before, but it is worth repeating, the best thing you can buy with your winnings is a bigger bankroll. The natural inclination is to reward yourself. However, do you reward yourself when the stock market or the price of Bitcoin goes up? Temper Expectations When it comes to their chosen profession some Professional Gamblers can fall into the trap of God Mode. The feeling of being invincible.
The feeling that they are destined to win out in the end. A mindset that they just cannot lose. This is as problematic as believing you are cursed. Streaks happen and the human brain is programmed to seek out patterns whether they exist or not.
Just because you are winning does not validate your edge any more than losing invalidates it. Your results are a product of the EV you generate. Do not let yourself slip into God Mode, it often precipitates a fall. Adjust Your Stakes As I mentioned, many players are afraid to change a thing when they are winning. This includes their bet size. Worse yet, many will anticipate regression is coming and will lower their stakes to lock in a win. Past results do not indicate future performance — Good or Bad.
If you have used your winnings to buy a bigger bankroll then you should be willing to adjust your stakes accordingly. Separate your mind from your money. View money as a tool to do your business. Become desensitized to fluctuation. Set Yearly Goals Clear Setting yearly, weekly or monthly goals is still a smart idea for sports betting. You need to keep improving your betting plan rather than expecting someone to make it all work for you. With clear goals, you will be able to develop an effective betting strategy and keep track of your progress.
If no progress is observed within a certain period of time, your betting strategy or your bookmaker should be changed. Use the Multiple Sportsbooks The use of different sportsbooks can help you achieve different goals. While one sportsbook offers attractive odds, the other one provides generous bonuses.
If you want to make the best out of any game, using several sports bets is the only way to go. You can use several accounts and handle them all at once. Today, you can use several payment systems like Skrill and PayPal, which can be trusted by average bettors. Both deposits and withdrawals will be made safely and easily. It will just make you tired of all this routine.
As a result, you will lose interest which will affect the quality of your decisions. It keeps on overcoming your defeats instead of making the right possible decisions. By sharing useful recommendations with others, you may also enhance your chances of winning bets and boost your probability of winning bets. Watch the Live Game Sports betting is not all about checking the statistics and reading the news.
It is also important to watch live matches. They will give you a real taste of the game. This will let you make more accurate predictions for the upcoming games.
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