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Sports betting professional gambler

So just how exactly is it done? Although not every bet will win, professional gamblers can win more often and win when it matters. Do your research The basis of becoming a successful bettor is extensive pre-match research. All good bettors need to do their research before even thinking of placing a bet, checking the team form, injury news, weather, and other important stats. Sites like DailyFantasyCafe. Choose the right sports betting site Choosing a sportsbook is the first step in any professional sports bettors career.

There are loads of different sports betting sites available, and the US legal sports betting market is increasing all the time as new states legalize and regulate sports betting. The odds are what will have the biggest impact on your success, and although major sites have similar odds, there is always variance to be found. Have you ever heard the term "sharp"? In sports betting, a "sharp" is considered the smart money - in other words, the professional gamblers. Let's say that the Patriots are playing the Broncos in the Super Bowl.

Now, there are two times when the "sharp" will be particularly active - shortly after the line is released and just before the game gets underway. You need to keep an eye on these two times to see what happens to the line.

For instance, let's say that the Patriots open as 8 point favorites over the Broncos in the Super Bowl. Keep this in mind, as it likely means that the smart money was betting on the Broncos heavily after the line was released. In the weeks leading up to the game, the amateurs will bet their money on the game, which might push the line back to where it was when it first opened. The professional gamblers will sit patiently and wait until just before the game starts to place their bets.

There are plenty of resources online in which you can read about where the sharp money is betting their money. Ask yourself this question - would you rather be on the side of the smart money or the dumb money? Look for value. If you like the Yankees and enjoy betting on them, you should realize that you are an amateur gambler and will likely be separated from your bankroll in a short period of time. This requires you to shift your way of thinking, but this shift will likely be profitable over time.

For instance, let's say that you really like a particular football team's chances against one of the better teams in the league. You think that they will win 4 out of every 10 games, given the fact that the favoured team has been struggling as of late and the underdog's running back has been breaking out as of late. Now, if you are this confident in the underdog, you HAVE to make this bet, even if the underdog ends up losing. You need to think about things over an extended timeline instead of on the basis of individual games.

For instance, if your reasoning is correct and the underdog has a tremendous amount of value, over time this will be a profitable wager. Again, you need to look for value. This is what professional gamblers do, and this is what you should do too. Professional sports gamblers are always looking for that single piece of information that might be able to put their wager over the top. How do the Patriots play on the road in warm weather?

How do the Red Sox play following losses in the first two games of a series? How does Chris Sale pitch following a loss? Professional sports gamblers will have access to some of the best information and statistics available, and they will fold all of this information into their systems before they place a wager.

The professional sports bettor is constantly crunching data in order to try to find an edge. If you want to be a serious sports gambler, you need to spend a great deal of your time reading and poring through numbers and data. Access to Multiple Sportsbooks. The problem with being a successful professional sports bettor?

Some sports books won't want your business. Sports books are in the business of making money, and if you end up winning on a consistent basis, there is a very good chance that your sports book will either close your account after paying you out or reduce the size of your bets the likelier option. For this reason, having a number of different sports books opened under your name is always a good idea. Don't rely on one sports book or you may end up getting shut out just before a big game, and you don't want to be scrambling to send money to another book.

Have at least sports books open and ready to go.

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However, overwhelmingly it is the seemingly supernatural ability to make money where the odds are literally stacked against you. What does it really take to be a Professional Gambler though? In this article, we are going to explore the professional gambler mentality needed to succeed.

Sometimes the toughest opponent is in your own head. The Truth About Professional Gambling Since we are focusing on the mental game, we will step over the very necessary components of having a bankroll and more importantly, an edge. The first point to consider is how realistic are you being in pursuing this income source. How much can you make at this?

Is your edge quantifiable and sustainable? If you are basing your pursuit of this career on just recent past results, you probably are not being very realistic. Have you considered how you will deal with all the regular expenses of life outside of your gambling?

Health insurance, cost of living, etc. If this is your sole source of income, you will be self-employed. 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. Professional Gambling Is More Than Just Results 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. 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.

Long-Term v. 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.

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. 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.

Becoming Desensitized to Fluctuation 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. 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. It was a boxing match between legendary undefeated Floyd Mayweather and another iconic boxer, Manny Pacquiao. One may assume that his nickname has something to do with his betting approach, and they would be right.

This method allows you to generate colossal total odds even when you are making relatively small bets. However, he also experienced some difficulties. After this unfortunate situation, Ben changed his approach to betting and started choosing gambling sites much more carefully. The year-old betting phenomenon follows basketball and soccer events and does not care if it is professional or college leagues.

After a thorough investigation, the FBI discovered that Ben was sending out hundreds of threats to professional athletes to affect their performance on the court or the field. This terrible act cost the player a lot, and he has to stay away from any gambling-related activities these days. Haralabos Voulgaris The global sports betting scene would not be the same without this man.

Voulgaris specializes in the events of the most prestigious basketball league in the world — the NBA. He has developed several unique predictive techniques that have helped him make a fortune in gambling. Haralabos has an amazingly analytical mind that made him a millionaire by the age of But what exactly makes his bets so reasonable?

Haralabos approaches betting pretty progressively and never sticks to outdated strategies if he sees them lose their effectiveness. He changed his methodology several times to continue making multi-million-dollar bets and even developed a revolutionary betting tool. Besides basketball games and other sporting events, Bob is also a huge poker enthusiast. Moreover, this card hobby also brought him a pretty solid financial compensation.

He impressed teachers with his crazy math skills, followed a one-to-one math program and regularly won prestigious educational tournaments. Once James realized that his incredible counting skills could benefit him, he began to use them to participate in various intellectual TV shows and sports betting. He shocked this quiz with numerous records relying on gambling analytics to make decisions.

He was convinced that even this sizable extra money could not make up for his much lower winning chances. While his gambling career began pretty modestly, he quickly moved from hearts and spades to more serious games and sports betting. Poker was his first card game, and the World Series of Baseball was the first betting success for him in Also, Holzhauer decided to put his card skills to the trial and took part in the World Series of Poker in However, this tournament was unsuccessful for the player.