Although some bettors bet for fun and entertainment purposes, there are plenty out there that want to make a living from betting. During our most recent Discussion Day on Twitter, we offered our help and the expertise of various betting experts to those who wanted to know what is required to be a professional bettor. Read on to learn more about the advice that was shared.
- Sports Gambling As A Profession Degree
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- Sports Gambling As A Profession Whose
- Sports Gambling As A Profession Of Nursing
Anyone serious about betting knows that it takes time and dedication to become a professional bettor. Building expert knowledge of a sport and gathering enough funds to invest in betting full-time is merely the starting point of making a career out of beating the bookmakers.
Even if you have access to information that others don't have, a refined strategy that has been rigorously tested and a carefully calculated staking method, there is still a long way to go. The most popular questions from our Discussion Day and the betting experts' responses are below.
How important is your staking method?
When you bet for a living, it isn't about always making money. One of the keys to success is to limit your losses when you don't win. Even the most profitable bettors will place losing bets - the trick is to use the right staking method that will manage your money in the most efficient way possible.
- Creating a Career Out of Sports Betting For most, sports betting is more of a way of making some extra money on the side, and many people won't pursue it for too long, especially when funds are running low. Many others, however, see the pastime as a real way of making enough money not just to live on, but to live comfortably.
- As sports betting continues to roll out to more states, with so much at stake, expect stricter, clearly defined, and more public player policy from all professional leagues. It's in the best interest of the leagues, players, and bettors.
- Anybody who knows very little about sports betting can attest to the value of odds in the game. In fact, the whole betting profession is based on the idea of odds. They form the basics of the profession. That is so considering that the whole profession about making money is governed because of the odds offered.
- Many a man has gambled in his day, whether with real money or cookies. But Christatos Aristad was able to parlay his talents in gambling into a real profession, a lucrative one at that. While some may see professional gamblers as a bit shady, Mr. Aristad is of an older school of gambler, and is the consummate gentleman.
Horse racing and sports betting in general, nowadays is directly comparable with the London Stock Exchange. Punters who 'enjoy' a flutter certainly don't use much mathematics. I am performing numerical calculates all the time. Neural net software, applied to horse racing, is currently a fascinating subject i am researching.
You could create the perfect model with better results than anyone else but if you don't use the right staking method, you will eliminate any edge you have. There are countless staking methods that most bettors will be aware of - our Staking: One method to improve your betting article tests several of these and answers the question; which staking method is best?
Understanding the value of information
Bookmakers will effectively buy information from bettors by offering odds and then make adjustments to the market depending on how valuable that information is. Professional bettors can make money by predicting the outcome of a match based on skill, but they can also do it by using information no one else has - the most successful bettors will obviously use a combination of both.
Whether it is a soccer player being injured, an NFL quarterback being suspended for disciplinary reasons or a sudden change in weather or playing conditions, knowing about something before anyone else and acting on it will affect how profitable a bet can be.
It's not just about predicting skill
While any edge you have requires the right staking method to maximise its profitability, it is pointless having the right staking method if you can't predict the outcome of an event and calculate whether your potential bet has positive expected value.
Instead of trying to bet on anything and everything, you will be better off focussing your attention on one particular sport. Sometimes niche markets like corners betting offer better value because there is a lack of bookmaker knowledge, but there is still money to be made with an NFL betting strategy or by betting on the Over/Under market in soccer.
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What sport should you bet on?
As mentioned above, if you want to become a professional bettor, you need to find an edge over the bookmaker in any sport or market you can. However, some sports might be easier than others when it comes to forging a career in betting.
Pinnacle's Betting Resources can help you learn how to bet on baseball or teach you about the basic basketball bet types. It also explains how external factors can be more influential in some sports compared to others - Golf betting, for example, can be heavily influenced by luck.
How do you measure betting success?
Understanding the value of information
Bookmakers will effectively buy information from bettors by offering odds and then make adjustments to the market depending on how valuable that information is. Professional bettors can make money by predicting the outcome of a match based on skill, but they can also do it by using information no one else has - the most successful bettors will obviously use a combination of both.
Whether it is a soccer player being injured, an NFL quarterback being suspended for disciplinary reasons or a sudden change in weather or playing conditions, knowing about something before anyone else and acting on it will affect how profitable a bet can be.
It's not just about predicting skill
While any edge you have requires the right staking method to maximise its profitability, it is pointless having the right staking method if you can't predict the outcome of an event and calculate whether your potential bet has positive expected value.
Instead of trying to bet on anything and everything, you will be better off focussing your attention on one particular sport. Sometimes niche markets like corners betting offer better value because there is a lack of bookmaker knowledge, but there is still money to be made with an NFL betting strategy or by betting on the Over/Under market in soccer.
My family and I spent a great evening at Casino Estoril in Oct 2019. The casino is an upmarket well organised establishment and although it is really big - the staff are extremely helpful in assisting you to navigate your way around the casino to the different areas, from slot machines to the Black Jack and Roulette tables. I highly recommend it for a little taste of James Bond and Casino. Eventos Casino Do Estoril, cool poker avatars, casino rama accident, casino sulphur oklahoma. Read our full review Quick Hit Platinum. Permanent Wager: x45. 20 Free Spins; Wager: 40x B; No Code Required; Loyalty System & Rewards. The Estoril Casino (Portuguese: Casino do Estoril) is a casino in the Portuguese Riviera, in the municipality of Cascais, in the Portugal. Today, it is one of the biggest working casinos in Europe. A publicity poster from the early 20th century. Estoril Casino at night. Jardins do casino estoril eventos 2019. The casino Estoril offers the classic table games such as Blackjack and Roulette and in addition Banca Francesa, Punto Banco/Baccarat and Poker Table Games. Poker lovers will find poker cash games and poker tournaments on weekends. Visitors can play the slot machines from 03:00pm until 03:00am and the live table games from 03:00pm until 03:00am.
What sport should you bet on?
As mentioned above, if you want to become a professional bettor, you need to find an edge over the bookmaker in any sport or market you can. However, some sports might be easier than others when it comes to forging a career in betting.
Pinnacle's Betting Resources can help you learn how to bet on baseball or teach you about the basic basketball bet types. It also explains how external factors can be more influential in some sports compared to others - Golf betting, for example, can be heavily influenced by luck.
How do you measure betting success?
Sports Gambling As A Profession Degree
The most efficient way to measure if your betting exploits can be deemed a success is to compare them against the closing line (the most adjusted, and therefore accurate odds available before an event takes place).
Testing the results of your strategy against a bookmaker's closing line over a long period of time eliminates the influence luck could have. Similar to testing the credibility of a tipster, analysing your own results is essential if you want to become a professional bettor.
How to find the right bookmaker
Becoming an expert in a particular sport, developing a successful strategy and ensuring you use the correct staking method to maximise returns whilst limiting your potential risk might be the hard part, but finding the right bookmaker can be just as difficult.
If you want to make enough money from betting to earn a living, you need to use a bookmaker that consistently offers the best odds. Being able to bet as much as you want is also important, so using a bookmaker that offers the highest limits online makes sense. Finally, you need to bet somewhere that welcomes winners and won't restrict or ban anyone that makes money from betting.
Find out how to calculate betting margins so you can work out how Pinnacle compares to other bookmakers.
In addition to the advice above about how to become a professional bettor, there are some basic rules that all bettors should try and stick to. Don't let emotion get in the way of betting, don't get fooled by randomness or controlled by optimism bias. Finally, as world famous bettor Lewis Deyong explained in his interview with Pinnacle; 'Never bet money you can't afford to lose.'
Ready to test the waters as a professional bettor? Bet with the best odds online at Pinnacle. Need more advice? Follow us on Twitter for unique betting insight.
Making a living through sports gambling seems like a dream come true. Unfortunately, for just about everyone who has ever placed a bet on a sporting event, it's most likely going to stay that way.
With that being said, despite the difficulties, there are a few among us who have been able to turn their weekend hobby into full-time work. But make no mistake about it, it wasn't easy.
In this article, I'll get into the honest accounts that pro sports bettors have given to amateurs throughout when it comes to their profession.
Sports Betting Is Wildly Inconsistent
Imagine if your paycheck was significantly different every week. Now imagine if you actually owed money to your company on a regular basis. That is the financial situation of a professional gambler.
The first step that must be taken before you quit your day job is disqualifying for millions of people who would take up the job of 'sports bettor' tomorrow if they could. You must have a very stable financial standing – meaning you'd need to still be able to live and support your family if you didn't make any money in the first year of your new job.
In all likelihood, there are going to be years where you just don't win very much money. The hope is that these years will be offset by very lucrative years winning money from sports betting, but that isn't always the case. The reality is that you just never know how your income is going to look until it hits your bank account.
This lack of regularity in terms of payment, and the overall risk of not knowing when (or if) they'll get a paycheck isn't for everyone. If you can't afford to live on no income for a significant amount of time, it's probably best that you stick to the weekend slate of NFL games and don't try to bet on sports for a living.
Sports Betting Is More Work Than You'd Think
The majority of amateur sports gamblers make their analysis and picks a few hours before the game. It's usually the first time they took a deeper look at the numbers, and they rely on some luck in order to grow their sports betting bankroll.
Aside from the amount of time it requires, the systems used to help pro bettors make picks are often extremely complex. It's for this reason that a high percentage of sharps (professional handicapper) have backgrounds in professions like law, advanced mathematics, and other fields that require a high degree of intelligence.
I'm not saying that you aren't smart enough to become a professional gambler. I'm simply stating the reality, which is most sharps who have been in the game for a while are probably smarter than you.
Luck Is Still Involved
One thing that I've always found interesting is that most gamblers associate casino games more with luck than skill, and when it comes to sports betting, it's thought of as more skill than luck. I would contend that it should be the exact opposite.
If you're at a casino, each event has a reliable probability assigned to it. Simply put, casino games are all numbers, and you can calculate what the likelihood of an event happening is and make your bet accordingly. Although there are some numbers involved with sports betting, it's certainly not as reliable.
Sports, on the other hand, are much less reliable. In some ways this can be an advantage. For example, you might have an instinct on a certain game that turns out to be correct, despite evidence that would suggest otherwise.
All of this rambling is to say that there will never be a 'right' or 'wrong' play from a statistical standpoint. This presents sports bettors with a unique challenge that casino gamblers, for example, don't have to deal with – taking human nature into the equation.
Because it's impossible to know exactly how each team and player is feeling, there is a degree of luck involved. The old adage of 'they just wanted it more' still has an impact on sporting events, although it will rarely show up on paper. Sports bettors must try to predict the human element – their paychecks depend on it.
It's a Long-Term Game
I'll let you in on a secret – the difference between your betting strategy and the betting strategy of professionals is that you're looking to win the weekend, they're looking to win long-term.
Sportsbooks know that the vast majority of gamblers aren't going to have the stomach to take risks because it will put them in a hole. What sharps realize is that over the course of several years (and thousands of bets), risk-tolerance is rewarded.
To get a little more specific, this philosophy means taking more moneyline underdogs, hardly ever taking heavy favorites, and spotting those bets that the public seems to under-value. You need to accept that you'll likely lose more times than you'll win, but that doesn't matter if you're able to hit on a handful of games with longer odds.
Most people aren't looking to take a long-term approach to sports gambling – and that's okay. But just know that those who do it for a living couldn't sustain success any other way.
Sports Gambling As A Profession As A
It's Extremely Stressful
Sports Gambling As A Profession Whose
If you think your job is hard, imagine watching a rookie kicker line up for a 50-yard field goal knowing that whether or not you'll make any money this week depends on the result.
It sounds fun in theory, but when it's your actual life circumstance, it's more stressful than anything else.
When you rely on the performance of other people for your income, anxious feelings can be overwhelming. Whereas in a typical day job you're the one who determines your success, in sports betting, you can only do so much.
If you look at famous sports bettors, it's likely they've suffered some type of hardship associated with the means by which they made a living. It's a rollercoaster ride that few can manage for more than a couple years at a time.
A comparison that might help illustrate the point can be seen if you look at the life of someone who makes money investing [read: betting on] in the stock market. The highs and lows, and general unpredictability, leads to high degrees of stress throughout the industry.
With all of that said, there is an undoubtedly addicting nature to the excitement that most people can only imagine.
Conclusion
Quitting your day job in hopes of becoming a professional sports bettor is not something many people can realistically do. Perhaps that's a good thing.
Sports Gambling As A Profession Of Nursing
Instead, sticking to the Saturday and Sunday slate of football games is more than enough excitement. It might not be as high stake, but the mortgage payment isn't going to get missed if there's an injury to a key player in the middle of the game.
