Used to do it and its certainly not an easy thing to do. Being able to pick winners is such a small part of it, but of course all the parts are important. If you really want some good insight into it, just read online or in books the stuff that is written about serious daytraders. Its a very parallel universe, the concepts of proper psychology, patience for the right setup and numbers, and the need for a large bankroll seperated from your living expenses all are essential for sports betting as well. And be prepared to work your ass off, all the winners I have ever met that were able to truly make their living at it were so dedicated during season they pretty much left most of their life behind until they took time off. I tried to go at it year-round and in retrospect that might have been the biggest mistake. Treat it like an athlete does, concentrate on a sport or two and make sure you have at least 2-3 months a year completely off. Don't dabble, don't get into other betting, just completely get away and clear your head and enjoy life. Otherwise you will burn out quickly like I did. And also treat it like any other career choice. If you don't have much of an education and have little possibility for making good money at something else, then by all means consider it. However I ran into guys that were former lawyers, managers, etc. Really think hard about it before giving up a good career, the money you make and the hassle it makes for your life generally won't make it worth it. Another lesson I learned, I was able to get back in the business world and will never regret leaving because the pay is good, the check coming every 2 weeks is an incredible feeling, and the benefits of having a job are worth quite a bit that you don't realize unless you don't have them.
If you would have asked this 10 years ago before offshore and the ability to get a good number I would say Gambling for a living is worth the effort. Times have changed books are tougher to beat and the opening numbers are just too tough. Sure you can get on some runs and make alot but now a days its like the guy says in the movie Casino " in the end we get it all" Its all set up now a days for you to lose.
It is a huge test of character because if you don't win, you don't eat. It can also be lonely and depressing if that's all you do. There was a 3-year period when I was a full-time gambler. This included poker, blackjack, and sports betting. Now I have a regular job and just do sports betting on the side. The main reason for going back into the mainstream was the monotony, boredom, and lack of contact with normal people. I enjoy the company of poker players and sports bettors, don't get me wrong, but not all day every day...that's a bit much.
<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by bumsteers:
its like the guy says in the movie Casino " in the end we get it all" Its all set up now a days for you to lose.<HR></BLOCKQUOTE>
Good one bumsteers, but here is the quote by the man himself.. It's not exactly, but close enough.
Sam Rothstein: In the casino, the cardinal rule is to keep them playing and to keep them coming back. The longer they play, the more they lose, and in the end, we get it all. The truth is, there are no winners, we're the only winners. At the end, we're the only ones who stand a chance. The players don't stand a chance. All the comps, the free drinks, the rooms is all for us to get your money. That's right, the truth is, we're the only ones that win
its like the guy says in the movie Casino " in the end we get it all" Its all set up now a days for you to lose.<HR></BLOCKQUOTE>
Good one bumsteers, but here is the quote by the man himself.. It's not exactly, but close enough.
Sam Rothstein: In the casino, the cardinal rule is to keep them playing and to keep them coming back. The longer they play, the more they lose, and in the end, we get it all. The truth is, there are no winners, we're the only winners. At the end, we're the only ones who stand a chance. The players don't stand a chance. All the comps, the free drinks, the rooms is all for us to get your money. That's right, the truth is, we're the only ones that win
I've been doing it for a while now, with my only income being from sports wagering. Here are 5 keys I find have helped me alot
- Take small bites, don't get greedy, grind it out, no big scores
- Control of your emotions, if you can't do that, don't gamble
- Protect your bankroll, don't chase and don't bet just to bet, to hell with leans if your methodology wouldn't normally select the game, don't play it, be disciplined, taking shots is an eventual road to ruin
- Work the fringes, betting only NFL spreads is a very tough way to make a living betting sports, take advantage of the situations where the book might not be as strong in or the public interest level is lower
- Don't throw darts at a board, have something tangible to back up your opinion, information is power and there is alot of it out there, you just need to know where to look, happy hunting
I know these are fairly generic, but I hope they might help. There are alot of things that go into being successful in this game, but maybe the only way to learn them is through experience and negative results. I have been sports betting in one form or another for 13 years and the player I'm today is vastly different from the one even 3 years ago. It sure hasn't been easy to get where I am now, but I wouldn't want to be doing anything else.
- Take small bites, don't get greedy, grind it out, no big scores
- Control of your emotions, if you can't do that, don't gamble
- Protect your bankroll, don't chase and don't bet just to bet, to hell with leans if your methodology wouldn't normally select the game, don't play it, be disciplined, taking shots is an eventual road to ruin
- Work the fringes, betting only NFL spreads is a very tough way to make a living betting sports, take advantage of the situations where the book might not be as strong in or the public interest level is lower
- Don't throw darts at a board, have something tangible to back up your opinion, information is power and there is alot of it out there, you just need to know where to look, happy hunting
I know these are fairly generic, but I hope they might help. There are alot of things that go into being successful in this game, but maybe the only way to learn them is through experience and negative results. I have been sports betting in one form or another for 13 years and the player I'm today is vastly different from the one even 3 years ago. It sure hasn't been easy to get where I am now, but I wouldn't want to be doing anything else.
This article I wrote over the weekend will be up on the homepage shortly.
I recently had someone e-mail asking me questions about betting sports on a
full time basis. My advice and answers to his questions may come as a surprise.
The "lifestyle" of a professional sports bettor varies widely. There is no
standard, but for some reason, few pros are female. Traits commonly found in
professional gamblers (whether it be sports, blackjack, or video poker) include above
average intelligence, fierce independence, gritty determination, and a capacity for
dealing with adversity.
You have to have a decent bankroll (strictly for gambling), solid money management skills,
and have some good connections. Connections can come in many forms, from knowing
sportsbook managers, to exchanging information with knowledgable handicappers, to knowing where to locate that key piece of information about a game. I personally think money management is
the most important piece because you can be the best handicapper in the world and still lose money if you don't have good money management skills.
You have to treat it all as a business and throw any bias you may have for your favorite teams out the window. Lose the excitement of rooting like a fan, and view the games analytically. It is all about numbers and value, and the more value you get the better.
If you have ten sportbook accounts and can take from 11-12 points on a game at
nine of them and get 13 points at the 10th spot, then you have found value.
You must accept the fact that this is a job with absolutely no security. There is no health insurance, no guaranteed paycheck, no
retirement plan, no sick leave, no vacation pay, but lots of hard work and long hours. Also, you cannot expect to win
every week, or even every month. The single most difficult aspect of professional gambling is not knowing when money will flow your way. Every pro I know has at some point been driven to the brink of despair by a prolonged losing streak.
Trying to be a professional gambler is similar in many ways to entering show
business. A very few make it, usually because they are truly cut out for it. If you
do not have a singular obsession to succeed, at all costs, you will probably
fall by the wayside. There are thousands of easier ways to make a buck. Those who do make it as a professional gambler
usually work longer and harder and smarter than they would have to work in the real world of time clocks and paychecks. The rewards can be great, but it will definitely not come easily.
I recently had someone e-mail asking me questions about betting sports on a
full time basis. My advice and answers to his questions may come as a surprise.
The "lifestyle" of a professional sports bettor varies widely. There is no
standard, but for some reason, few pros are female. Traits commonly found in
professional gamblers (whether it be sports, blackjack, or video poker) include above
average intelligence, fierce independence, gritty determination, and a capacity for
dealing with adversity.
You have to have a decent bankroll (strictly for gambling), solid money management skills,
and have some good connections. Connections can come in many forms, from knowing
sportsbook managers, to exchanging information with knowledgable handicappers, to knowing where to locate that key piece of information about a game. I personally think money management is
the most important piece because you can be the best handicapper in the world and still lose money if you don't have good money management skills.
You have to treat it all as a business and throw any bias you may have for your favorite teams out the window. Lose the excitement of rooting like a fan, and view the games analytically. It is all about numbers and value, and the more value you get the better.
If you have ten sportbook accounts and can take from 11-12 points on a game at
nine of them and get 13 points at the 10th spot, then you have found value.
You must accept the fact that this is a job with absolutely no security. There is no health insurance, no guaranteed paycheck, no
retirement plan, no sick leave, no vacation pay, but lots of hard work and long hours. Also, you cannot expect to win
every week, or even every month. The single most difficult aspect of professional gambling is not knowing when money will flow your way. Every pro I know has at some point been driven to the brink of despair by a prolonged losing streak.
Trying to be a professional gambler is similar in many ways to entering show
business. A very few make it, usually because they are truly cut out for it. If you
do not have a singular obsession to succeed, at all costs, you will probably
fall by the wayside. There are thousands of easier ways to make a buck. Those who do make it as a professional gambler
usually work longer and harder and smarter than they would have to work in the real world of time clocks and paychecks. The rewards can be great, but it will definitely not come easily.
WildBill,
Every time I keep thinking to myself that you cannot possibly make a better post than the last one, you simply amaze me...
If gamblers don't take notice of all the "pearls" you have given them, they should be ashamed of themselves...
The post you made above is something I have just digested and agree with..
Thanks so much for all that you contribute to this site..
Every time I keep thinking to myself that you cannot possibly make a better post than the last one, you simply amaze me...
If gamblers don't take notice of all the "pearls" you have given them, they should be ashamed of themselves...
The post you made above is something I have just digested and agree with..
Thanks so much for all that you contribute to this site..
