Interested in making a career out of sports betting? In this article, we’ll walk you through all the things you need to know to become a professional sports bettor.
If you’re a big sport betting fan, few things may seem more appealing than turning your pastime into your full-time hobby. You may be wondering whether the goal is a plausible one, and let us tell you – it most certainly is.
Betting on a professional level is not a walk in the park, even if it may seem so. It won’t be an escape from your hectic work life, but it will definitely spruce up the mundanity. Let’s be clear: Professional sports betting isn’t for everyone, but it certainly is a very rewarding career for those who share a strong passion for betting. Professional bettors are analytical and rely on data and their knowledge to secure big wins. They aren’t always winners; they’ve definitely made some losses, but their profits outweigh them. If you’re still intrigued, read on to find out about what being a professional bettor entails, and what you can do to achieve a high level of professionalism.
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Why Bet on Sports Professionally?
There are many advantages that make becoming a professional bettor an appealing option. For starters, having full control over your daily life is obviously an attractive feat. Think about it – Most of the work you would do as a professional bettor can be done at the most suitable time for you. There are only specific cases when this would change, but for the most part, being a professional bettor enables you to manage your own hours and enjoy the freedom that perk brings with it. Additionally, you won’t have to work the typical forty-hour work week. You could put in less or more hours depending on your priorities and your to-do list for the week.
That flexibility also extends to where you choose to work. With modern technology, you aren’t limited to an office or your house – if you’d prefer to work at a poolside restaurant or from the neighbouring hotel, then so be it! This, of course, brings in the possibility of travelling while working – and if you have other commitments, the flexibility will allow you to juggle those too.
Working independently guarantees a level of freedom you won’t find elsewhere. That means that you won’t need to depend on or work with difficult colleagues, follow many set rules or abide by any kind of dress code. These aspects, no matter how menial they may seem, can have a great impact on your work.
Naturally, when boasting so much freedom, you will typically be able to put in as much work and effort as you would like to – and therefore, have limitless earning potential. This is, without a doubt, the most appealing advantage for anyone who would like to become a professional bettor. It comes as no surprise that betting can lead to huge earnings. Of course, this may not be the easiest goal to have, but if you’re determined – it is most certainly possible.
Finally, we must emphasise the most important perk – betting professionally is exciting. It’s an analytical game, it’s freeing and most of all, extremely rewarding when done right. The entertainment this very job provides is undoubtedly exciting. While betting, you’ll also be able to watch the games as they happen… now if that isn’t a perk, we don’t know what is!
Personal Traits Needed To Bet Professionally
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 improving if betting professionally is the end goal.
The most obvious is having a real interest and knowledge in sports. You may not 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. However, having a general interest in sports will ensure you don’t get bored with your job. The promise of money may not always be enough to keep you hooked. Knowledge is also incredibly important. You’ll want to keep teaching yourself things and learning more about the sports and teams you choose to place your bets on. It is vital you know that professional sports betting isn’t reserved for the lucky.
Being familiar with numbers will also be crucial if you are betting for a living. You don’t need to be a mathematician – honestly, the maths you’ll need to know is basic and easily understood. However, if you are doing this professionally, you’ll want to ensure you understand odds and probabilities well.
Another important trait is having the ability to control yourself and not let things get out of hand. As we said, betting is exciting and rewarding… but you must always remain disciplined and bet the money you have. For those who don’t reason logically and find themselves getting carried away, betting can easily go south and leave a dent on their earnings.
Being a realistic individual is also important. Yes, betting can lead to a big win, but that takes a lot of time and skill. Don’t be disheartened or shocked if your first major try didn’t bring in the result you were hoping for. As with anything else, good things take time.
Finally, many do ask if attending courses is a necessity. It absolutely is not, but if you do have the time to enrol in one, it will likely help you. Betting studies typically teach the average player a few tricks and skills that will almost certainly boost your abilities.
Tips and Advice for Professional Sports Betting
There certainly are some helpful tips you’ll want to take note of when transitioning into a sports betting career. In order to avoid making any common betting mistakes, here are some tips that will help you prepare for what’s to come.
In order to track your progress and keep your spending in check, you should set specific goals and work towards them. Yes, earning a substantial figure is everyone’s main goal – but you should take some time to draft up realistic goals for your annual earnings. By doing so, you can track just how much money you may need, and how much more you would like to earn. 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 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 will be easiest when keeping 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 those to your advantage when placing your next bet.
Learn to manage your money efficiently
All punters would benefit from sticking to a staking plan, but this is especially important when you’re building a career from sports betting. For instance, if you are aiming to bring in a weekly £2000 from your bets, then you’ll need to ensure your staking plan can support this. 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.
Never let your emotions take over
This point doesn’t simply apply to anyone taking on sports betting on a professional level, but actually, every punter should respect this rule if earning money is the priority. Placing bets simply because you would like a team to win, is a recipe for disaster. Always rely on your analytical skills. Moreover, your emotional weaknesses can surface in other aspects. Perhaps you got a bit carried away from a long streak of wins, and are now feeling confident enough to place a bet you haven’t thought out as much as usual. Identify your emotional weaknesses and make a conscious effort to use logic instead.
As we said earlier, controlling yourself and remaining disciplined are massively important when betting. Getting carried away is easy, so it is vital that you set some rules and stick to them when a lot is at stake. This applies to your spending habits, but also your schedule. Yes, a great perk for any professional bettor is the flexibility allowed… but it always helps to set a schedule for your betting activities. This will enable you to allocate the appropriate time to each betting activity while keeping you focused. Work on dedicating a set period of time to each category of task you often work on.
Be confident and realistic
Sports betting isn’t always predictable. There will be stretches of time, sometimes months, when your success rate won’t be topping the charts. All professional bettors know the feeling – there is no such thing as constant success. Professional bettors who are affected by this may sometimes opt to place safe wagers out of fear and a lack of confidence. Remember to focus on value instead, and keep reminding yourself that bad days or slower weeks aren’t out of the ordinary.
Some Inspiring Professional Sports Bettors for Your Motivation
If you’re looking for some motivation, you’ve come to the right place! There are plenty of professional sports bettors who have built a successful career through the right analytical skills and profound knowledge of sports. We’re listing three you must know about.
If you’ve already dabbled in sports betting – which, well, you likely have… given your professional betting aspirations – then you probably know a thing or two about Billy Walters. Often considered to be one of the best sports bettors around, Walters is known for his impressive streak of winning years (over thirty!). He’s even been known for having brought in $50-$60 million on a monthly basis. Now if those figures don’t ignite some excitement in you, we don’t know what will!
Walters’ early life wasn’t a lavish one. His entrepreneurial spirit makes his story all the more inspiring. Having started gambling at 9 years of age, Walters definitely built up experience from a young age. It wasn’t all big wins, however – he had lost $50,000 by the age of 22. His mid 30s saw an impressive change, though, when Walters and his gambling partner won $3,800,000 at the Atlantic Club Casino Hotel. In the 1980s, Walters joined the Computer Group, which analysed sports outcomes, and was later renowned for betting on basketball, NFL, and college football.
Bob Voulgaris is known to be the most successful NBA bettor. He first began betting on sports in the early 1990s, while in his early 20s, yet his sports betting career was already kicking off successfully. At the age of just 25, Voulgaris was said to be flipping a million dollars on the daily as a result of his impressive analytical skills and ability to understand the habits of coaches Eddie Jordan, Jerry Sloan, and Byron Scott. Voulgaris now works at the Dallas Mavericks’ front office – so you could say his love for sports extended beyond betting.
Most people are familiar with Floyd Mayweather’s incredible boxing career, but how much do you truly know about his sports betting track record? Mayweather can’t not make it to our list of professional bettors you must know about, thanks to the notable bets he has placed. Mayweather is best known for betting on small events, rather than simply the big occasions. One of his big wins happened when he bet $1.7 million and profited from $1.1 million off of the Oregon v. Arizona St. college football game in 2012.
ThePuntersPage Final Say
Being a professional sports bettor isn’t for the faint-hearted or for anyone craving predictability, but sports betting promises an exciting and rewarding career that cannot easily be replicated in any other industry. We believe making the right preparations and researching prior to kicking off your sports betting career is of the utmost importance. Worry not, however, as you’ll find plenty of informative articles on our blog.