How to become a professional gambler sport bet

Becoming a professional sports bettor doesn't happen overnight. What are their secrets? How can you become a sports betting pro? Be certain this is what you want to do · Learn about different types of betting · Don't expect to be great overnight · Don't think of it as luck-based · Never run. Going pro isn't a matter of luck. It takes hard work and discipline to succeed whether you bet on sports, play games of how to become a professional gambler sport bet like roulette, or put your mental. 3 Top Tips That All Professional Gamblers Follow · 1. Practice Good Bankroll Management · 2. Look At The Bigger Picture · 3. Bet Within Your Means.

Unveiling the Path to Professionalise Your Sports Betting Career

With a surge in interest and availability of sports betting opportunities, the allure of becoming a professional sports bettor grows. It's an avenue that presents both excitement and reward for those who navigate it skillfully.

However, transitioning from a casual bettor to a professional requires meticulous planning, discipline, and a deep understanding of the industry dynamics. Here, we delve into the essential steps and strategies that can propel you towards professional success in sports betting.

The Foundation: Knowledge and Research

Knowledge is power in the realm of sports betting. To make informed decisions, you must invest time in researching teams, players, past performances, injuries, weather conditions, and other relevant factors. Keeping abreast of the latest developments and leveraging analytical tools can provide a competitive edge.

Bankroll Management

Mastering bankroll management is non-negotiable for any aspiring professional bettor. Establishing a budget, setting limits on individual wagers, and resisting the temptation to chase losses are critical aspects of sustainable betting practices. A well-structured bankroll management strategy can safeguard your funds during inevitable swings.

Specialization and Focus

Specializing in specific sports or markets allows you to deepen your expertise and gain a nuanced understanding of the variables at play. Whether it's football, basketball, or tennis, focusing on one area enables you to identify value bets and exploit profitable opportunities more effectively.

Embrace Data and Statistics

Data-driven decision-making can be a game-changer in the world of sports betting. Utilize statistical analysis, historical trends, and advanced metrics to enhance your predictive capabilities. Developing a systematic approach based on reliable data sets the stage for consistent success in a highly competitive environment.

Continuous Learning and Adaptation

Adaptability is key in a landscape where trends evolve rapidly. Stay receptive to new strategies, refine your methodologies, and learn from both successes and failures. A growth mindset and a willingness to evolve are indispensable traits for those aspiring to excel in the domain of professional sports betting.

In conclusion, transitioning from a recreational bettor to a professional demands unwavering dedication, strategic acumen, and a relentless pursuit of knowledge. By honing your skills, embracing data-driven insights, and maintaining discipline, you can carve a path towards a sustainable and rewarding career in sports betting.

Professional Sports Bettors – How to Wager Like a Sports Betting Pro

What qualifies you as a professional gambler? Professional gamblers are people who gamble regularly for their primary income and their profits are are treated differently for tax purposes. All of their proceeds are usually considered regular earned income and are therefore taxed at normal income tax rates.

How much do professional sports gamblers make? What Is the Average Professional Gambler Salary by State

Do people actually gamble for a living? Professional gamblers keep a close watch on the situations they gamble upon and seek situations where they figure that the actual odds are in their favour when compared with the bookmakers' odds. If the house literally always won, it wouldn't be gambling. The house wins in the long run against the majority of players.

Can you live off of sports gambling? Still, it's important to draw the line between myth and reality. While it's possible to generate profits from sports betting, turning it into a full-time job is challenging and often unrealistic. The truth is the vast majority of bettors end up losing money in the long run — the odds always favor the house.

How much do professional gamblers make a year? What Is the Average Professional Gambler Salary by State

Do professional gamblers pay taxes? TurboTax Tip: If you're a professional gambler, you can file Schedule C as a self-employed individual. This allows you to deduct costs associated with your gambling activity, including meals and travel expenses. However, it also means you'll have to pay self-employment tax on your net income from gambling.

Is it possible to be a profitable sports gambler? In order to earn a profit in sports betting you need to win more times than you lose overall. However, it's not a 50/50 split. Bookies make money by taking a small percentage of all bets placed, called vigorish or juice. This means that successful bettors need to win roughly 53% of the time to break even.

How To Become a Professional Gambler

It just goes to show that even the most successful bettors lose now and then. Shoeless Joe Jackson and Pete Rose are probably the two names most sports fans think of when it comes to betting on baseball. While Jackson was banned from the sport for life following the Black Sox Scandal that saw them throw the World Series, Rose lost even more once his betting allegations surfaced.

Pete Rose, the all-time hit leader in MLB history, was banned for life after it was revealed that he regularly bet on games he managed. It was the Cincinnati Reds legend himself who placed the first legal sports bet in Ohio. Only two men have scored more Premier League goals than Wayne Rooney.

So it comes as no surprise that Rooney also loved scoring off the pitch, thanks to a love of sports betting. Noting a tone of free time with little else to do, Rooney would place bets from his hotel room over the phone. Those early losses piled up and soon Rooney began emotively betting, something he now speaks out on. Rooney has taken part in multiple responsible gambling initiatives, even with sportsbook operators who were sponsors of the football clubs he played on!

Here are a few sports betting tips and secrets our experts have extracted from researching our professional gambling icons. The best sports bettors understand that the only game that matters is the bankroll numbers game. This is where bankroll management comes in.

Knowing the precise amount to wager when placing bets to ensure your bankroll grows is something all of our pro bettors understand. But all sporting events have their own set of variables, and each one may contain a nugget of insight into how things will shake out. Some basketball players play better with certain teammates or hit certain metrics when coming off the bench.

Some teams cannot play in cold weather. This research can help you read a point spread better or lead you to better player props. This type of game information can be the difference between winning by one point or losing by Your research and strategy should lead your betting odds selection, not emotion. This is the main pitfall for bettors. How to become a professional gambler sport bet Betting on anything is obviously risky; even the pros know that.

After all, not all of us have multi-million dollar contracts to fall back on. Responsible gambling is the key to a positive wagering experience. You can also find more information by visiting the official website or speaking to customer support at your preferred betting site!

Some professionals have experienced down years where they have seen their bankrolls extremely diminished, which is why each bettor has their own strategy and system they use. Of course. Full-time sports betting professionals do exist and their betslips are works of art. Anyone can become a sports betting professional, but it takes time.

Each of the professionals on our list has spent years refining their craft, understanding trends, and analyzing stats, as well as utilizing specific money management strategies and betting systems. The ReadWrite Editorial policy involves closely monitoring the tech industry for major developments, new product launches, AI breakthroughs, video game releases and other newsworthy events.

Editors assign relevant stories to staff writers or freelance contributors with expertise in each particular topic area. Before publication, articles go through a rigorous round of editing for accuracy, clarity, and to ensure adherence to ReadWrite's style guidelines.

He has been covering online gambling and sports betting for over 15 years, having written for the Racing Post, Oddschecker. Now based in London, Gavin is a big sports fan, particularly when it comes to horse racing, soccer and cricket, and is also a keen frequenter of the Sheephaven Bay in Camden.

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Our content, created by leading industry experts, is meticulously reviewed by a team of seasoned editors to ensure compliance with the highest standards in reporting and publishing. What is a Professional Sports Bettor. Billy Walters Billy Walters began his sports betting career at the age of nine when he took the money he made on his paper route and bet it on the New York Yankees to beat the Brooklyn Dodgers in the World Series.

Register with BetOnline and take advantage of their generous welcome bonus. Learn More. Who is the most famous professional sports bettor. How much do professional sports bettors make. Do professional sports bettors exist. How can I become a professional bettor. Gavin Beech iGaming Expert.

All Posts by Gavin Beech. Related Guides. You will need to understand self-employment laws and taxes and even retirement benefits. Then when that list no longer presents barriers to entry, you are ready to make the leap. Do you have the temperance to be a Professional Gambler?

If you are betting sports as your source of income, you will have to put any team allegiances aside. Can you bet against your favorite team if the situation dictates. Everything in professional gambling comes down to a math equation. Do you have Expected Value EV in your betting situation?

Having that Professional Gambler mentality requires having that focus 24 hours a day, 7 days a week. There are concepts such as Cover Betting and Account Seeding that are good discussions to have, but for most aspiring professionals, you need to be rational in how strict and disciplined your approach will be. For any Professional Gambler, and especially a sports bettor, it is natural to view wins and losses as a scoreboard as to how successful you are.

Sports are built around that. However, to be a Professional Gambler, you need to disassociate yourself from the results. Is online sports betting legal in colorado The problem is, winning results can mask losing behavior. Using tools like the Unabated Closing Line Value Calculator can help you determine if the market believes you had an edge.

Enter your wager and the closing line to determine your edge relative to the closing market line. If you make the leap to being a Professional Gambler, you are a business. Your business should be built for long-term success. As such, set long-term goals. Be mindful that focusing on anything but those long-term goals has sub-optimal in helping you grow. Do not concern yourself with short-term variance.

If you try to have a winning day, every day, you will only frustrate yourself. A winning month is nice, but it is not a metric you need to base your success or failure on. The IRS bases your success on a year-long scale and you should probably use this as your standard of measure as well. To a Professional Gambler, money is everything.

It is the tool you use to make more money. Money won or lost is how we keep score. It is our reward at the end of the journey. Money is also something a Professional Gambler has to view much differently than most people. A skilled craftsman is only as good as the tools they use. As such, they protect and value their tools above all else.

Likewise, a Professional Gambler needs to protect and value their bankroll as it is the tool they will leverage for income. It is the tool you are using to hopefully gain a return. If you win, you can then subsequently wager those earnings in the future. You will be wielding a bigger tool for the next job. Conversely, If you lose, you have fewer tools for the next job.

This is also why proper bet sizing is important. You cannot be too reliant on the result of any single wager for the future viability of your business. How to become a professional gambler sport bet You not only need to view your wager as just a fraction of your bankroll, but you also need to view the fluctuations in your bankroll as inevitable and natural events. Precondition yourself to the realization that the current amount in your bankroll is just a single point in time.

It will always be moving as long as you are making bets with it. This is why tracking your EV is much more rewarding than hawking your bankroll. 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.

Your goal as a Professional Gambler should always be bankroll growth through successful bankroll management. 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. 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. 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. Remember that gaining EV is your real goal in maximizing bankroll growth. 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. Dealing with an individual loss is one thing.

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. 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. 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. 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. Knowing when to hedge a bet. Whatever it takes to continue to improve.