Making a living betting on sports could be seen to be the ideal profession for sports betting fans. However, if it was easy, many bookies would go out of business. There are obvious benefits from consistently making money when you become a professional gambler. We will discuss those upsides in this article but also highlight the potential downsides.
- Guide To Becoming a Professional Sports Bettor
- Best USA Betting Sites in 2023
- What Is Professional Sports Betting?
- Steps To Being A Professional Gambler
- Useful Resources For Professional Betting
- Tips To Become A Professional Bettor
- Pros and Cons Of Professional Sports Betting
- Pro Gambler Pros
- Pro Gambler Cons
- Conclusions on How to Become a Professional Sports Bettor
Guide To Becoming a Professional Sports Bettor
There are certain practices for becoming a professional sports bettor that are non-negotiable. These are two which we consider most important:
- 01DisciplineDiscipline is key. It’s a minimum requirement, regardless of the type of betting and your chosen sport.
- 02LearningGathering information and educating yourself is paramount when you make this lifestyle choice. You are competing with bookies and other individuals who have made betting on sports their job.
- 03PatienceLearning, practicing and then betting within a plan requires patience, so continue with this guide to give yourself the best chance of being a successful professional gambler.
With these steps in mind, we recommend using the following sportsbooks to place your bets.
What Is Professional Sports Betting?
- Unlike betting for fun or as a hobby, professional sports betting is an occupation that is designed to provide an individual with their main source of income.
- It is a job that entails certain skills and requirements that are not suited to every sports bettor's personality or lifestyle.
- In effect, a pro gambler is independent, so they must apply these skills to be commercially viable. In many professions, there are qualifying conditions that are set in stone. An accountant, lawyer or doctor must study for many years and pass professional exams. There are trade bodies and societies that offer support and advice. However, as a pro gambler, you are very much on your own, and you don’t require a license to be in practice in this sector.
- There are many sports to bet on professionally and different types of gambling. Professional sports betting is about being selective but gathering information about your sport and type of betting. It is very much a numbers game with small margins. That is why a major factor in success is eliminating avoidable errors but very quickly learning from mistakes.
- You require the discipline of other professions, and there is very little room for error. Strategy and money management are vital in this area of work. You are up against the house edge, which means you are at a disadvantage to the bookie. Therefore, experience and constant ongoing education are required to make this profession pay the bills.
Steps To Being A Professional Gambler
While most people gamble for fun, being a professional gambler involves thinking in terms of business. For one, once your gambling profits pass a certain threshold, you will need to be reported as part of your tax return to the IRS as “other income.” As with any other form of business, there are risks, and a few profitable streaks are no assurance against the likelihood of dry spells. While some professional gamblers treat their pursuit as a full-time job, others balance it with day jobs – and balancing the true can bring a whole new set of stresses.
Professional betting does have a reputation for providing a glamorous lifestyle, but the reality can be different. The rewards are not guaranteed, and there are steps to be taken to become a pro sports gambler. The most important steps are described below:
1. Lifestyle Decision
Embarking on a career in professional sports betting is a lifestyle decision. You are self-employed, and there is no regular paycheck at the end of the month.
Many years ago, a study in the UK revealed that only about 3% of sports bettors consistently make money over a sustained period of time. Professional gambling is one of the hardest jobs in the world. It takes a certain mentality to deal with that lack of a secure income. Going freelance is tough in any profession, but sports betting, in particular, has special demands.
You must be certain that the job is suited to your lifestyle. That means living arrangements and whether you are also providing for a family. You can choose your hours but must bear in mind that many sporting events take place at the weekend or in the evening. Anti-social hours are part of the deal, and your lifestyle has to be compatible.
2. Total Commitment
In professional sports gambling, there has to be total commitment to the job and no compromising with the plan. Bookies do take winning bets, but you must take all the necessary steps to earn your share of the payouts. There are many aspiring pro gamblers and many who fail at the job. You must all accept that luck can play a part.
You must be 100% committed to being one of the few gamblers that beat the bookie. That takes dedication, discipline, and the mentality to stay calm after a losing run. It’s no good taking up this profession with half measures. There are many pitfalls and common errors, but you can control the level of commitment you put into the job.
3. Prepare For The Pitfalls
Gambling on sports is fickle, and there is no guarantee of a regular and consistent income. There will be spells when you seem untouchable and can’t do anything wrong. However, losing streaks are part of the job, and they can last for days. There will be many highs and lows, but if you can make money over a significant period of time but be aware of the pitfalls, professional sports betting could be right for you. You need the mental strength to deal with the good and bad runs in the right way.
4. Learn And Study
Learning how to be a professional gambler is a continuous process. Decisions must become instinctive, and that can be achieved by drilling down on what you know. In effect, the aim is to beat the system and the bookies’ built-in profit margin. Learning strategies and systems are always evolving, and the best pro gamblers are ahead of the game.
However, a good pro bettor understands the technical elements of the different types of bets. There are singles, parlays and system bets, so you must be aware of all the possibilities. There is specific terminology and Terms & Conditions that are part of the job. In effect, you must know your sport inside out, and that comes from the ongoing study of the nuances.
5. Avoid Emotions
An emotional sports bettor is probably not a successful one. You have to make hard business decisions based on commerciality and not emotion. It is a fine example of the head having to rule the heart. Every decision has to be made in line with a plan that is designed and modified to win the numbers game with a sportsbook.
Most sports bettors will probably have favorite teams. Fandom is about emotion, so it’s probably a good idea to avoid betting on games involving your teams. It’s also a good idea to take a break from sports betting if you are feeling tired, stressed and under the influence of something else, as you need 100% concentration with no emotions getting in the way.
6. Types of Betting
There are various forms of betting, and it's advisable to focus on just one. You can’t be a jack of all trades and master of none. Gaining experience in one area is not easy, so you should specialize in one of these types of betting:
7. Choose Your Sport
A typical sportsbook allows you to bet on about 20 sports across pre-game, in-play and futures markets. You can’t keep abreast of the form in so many sports, so you have to be selective.
Every US-facing sportsbook offers odds on the NFL, NHL, MLB and NBA and college leagues. Other popular betting sports include soccer and tennis, and there is a wide variety of games.
Some online sportsbooks have a dedicated horse racing lobby featuring thoroughbred racing. There are meetings from the US and overseas fixtures and international horse races. Specialize in one area or type of race to maximize potential wins.
There is also a range of special bets and novelty markets that can provide a niche. For example, you could focus on Politics, TV & Entertainment and Esports. One proviso is that bookies may limit stakes and restrict you from betting in these areas if you win consistently.
8. Accept Luck Can Play A Part
You can have all the best strategies and study the key statistics. However, you have to accept that luck can play a part. A horse may not have any luck in running, and there can be freakish play in sports. Things are not always logical, so you must accept the vagaries of fate as in any other job. However, you need the discipline and bankroll to ride out a storm, as nobody can predict the future.
Useful Resources For Professional Betting
Betting professionally as a pro can be a lonely job. There are no colleagues to consult about an idea. Self-motivation is important, as there is no line manager for direction and support. Therefore, it is important to investigate resources for professional sports betting. The following options can help you become a more successful pro gambler:
There are many online guides to becoming a professional sports bettor. Some are free of charge, but others require a subscription. They can be useful in describing the steps to beginning work in pro gambling. Online guides also provide tips and document the pros and cons of betting on sports for a living. Worked examples are a good element of online resources.
Professional sports betting training courses can be found online, or you can attend a course in person. The instructions are often well-organized and present a logical progression from embarking on the work to achieving financial goals. Courses will provide practical examples and tests that do not involve risking any money.
There are a number of specialist software providers which focus on one area of sports betting. For example, you can buy software that highlights the matched betting opportunities and provides detailed instructions to take advantage of free bets. Some software will also highlight the existing arbs, but they soon close.
Blogs and Forums
Professional sports betting is usually an individual pursuit, usually in an office at home, which can be isolating. Blogs and forums provide an exchange of ideas and strategies. They can provide a useful sounding board when you are considering a system. However, they are not tipping services but can confirm — or not confirm — gambling thought processes.
The mainstream media can provide a good source of information. You can watch game previews and keep up to date with injuries and suspensions. Preview shows will often highlight key statistical trends, but again taking tips from this resource should be avoided. However, you can glean information to help with your betting decisions.
Observe Winning Pro Gamblers
There are highly successful professional sports bettors and others who make a modest living. Try to research the attributes of winning sports bettors as best you can. They may not reveal their secrets, but you can observe how they go about their business. Conversely, identify the traits that come with an unsuccessful pro gambler career. Adopt this approach as part of your learning process.
Tips To Become A Professional Bettor
We now present some important pro gambler tips that you can adopt into your sports betting:
Good Bankroll Management
Managing your betting bank is paramount. This involves a staking strategy that maximizes the earnings from good runs and minimizes the losses from poor runs.
You should set a budget and have a definite plan for staking in line with your current performance. You can adopt a fixed stake strategy or compounding stakes that involve risking a fixed percentage of your bank.
Look To The Future
You may not see a betting opportunity in a game, but you can gather information about future bets.
For example, in a horse race, a horse may have no luck in running and not achieve a place the form justifies. You can take note and consider backing the horse at the right odds in the future.
In other sports, take note of the draft and measure improvements in team rosters.
There is a vast amount of online betting opportunities across sports, leagues and games. It is impossible to keep up to date with games and team news, so you should specialize.
Your chosen niche area could be graded thoroughbred horse races or games in the NFL or college football. You could also focus on one type of bet, which could be Moneyline, spreads or totals.
Bet Within Your Means
It is vital to keep emotions in check by betting within your means. Don’t gamble with money that you should use to pay bills.
It’s a good idea to use a separate bank account for your betting transactions. However, you should set loss limits and don’t deviate from the plan. It is damaging and can be too stressful to gamble with money you cannot afford to lose.
Don’t Expect Overnight Success
Profitable sports betting is difficult. The house edge is a huge obstacle, so you must work to small margins.
Success will not be immediate, and you must practice. You can paper trade your systems and record the success. However, there has been a major learning process over several months. This is a long-term business decision that will not bring overnight success.
Pros and Cons Of Professional Sports Betting
There are upsides and downsides to professional sports betting, so we now present the good things and not-so-good things about being a pro sports gambler:
Pro Gambler Pros
- The challenging and enticing appeal of making a career out of a hobby.
- High potential earnings and lifestyle rewards.
- Can be a cash business if you bet at retail locations.
- Benefits of the reputation for profitable sports betting.
- Legal and online sportsbooks in many states.
- Freedom of betting at hours that suit your living arrangements.
- It’s not always a grind and does hold some kudos.
- Satisfaction of betting the sportsbook.
- Winnings are taxed when you place the bets.
- The pleasure of watching sports for a living.
Pro Gambler Cons
- The stress of financial insecurity.
- No guaranteed salary at the end of the month.
- Losing runs that can affect confidence.
- Few understand the pressures and may not be sympathetic.
- Not the most comfortable way to live.
- Grind supersedes big wins.
- Successful bettors will have stakes restricted or accounts closed.
- Massive investment in time
- The need for research can become a chore.
- You can lose a great deal of money.
Conclusions on How to Become a Professional Sports Bettor
There is no room for shortcuts when it comes to betting for a living. You will need to take time to study the field and ensure that each bet you make is as well-informed as possible; and even then, you can expect to earn a modest salary at bets (any multi-millionaire professional gamblers that you may have heard about are very much outliers). You will also need to take money-management seriously.
The good news is that there is a host of information and helpful services out there, including in-depth guides, software and online communities of professional gamblers. In this article we have given you a thorough set of pointers to help you get started on your pro-betting journey: but the next step is up to you.
Professional sports bettors are on a journey that begins with gambling for fun and recreation. Semi-pros realize they can profit from sports betting if they are selective and disciplined. However, they generally have another source of income with a paid job. The final step is making a commitment to bet on sports as a full-time profession.