Our beginner’s betting guides focused on why people lose at betting, then the fundamentals of a winning betting strategy. Long term betting requires discipline and self-evaluation, which is what we cover in this article.
If you intend to be a professional sports bettor, you have to really commit yourself to it and treat sports betting like you would any other enterprise. If you opened a bar, you would certainly keep books, track your profits, acquisitions and think of new strategies to attract customers. In a similar way, you will have to track and analyze all aspects of your betting career in order to optimize your process and the end results.
Treating sports betting like a proper business can be a challenge because it comes naturally to us to view betting as a form of entertainment and actually looking at it from a serious perspective takes some real adjusting and a complete change of mindset.
Whether people can make a living sports betting or not is a long-disputed subject, and discussed everywhere like gambling forum or sports betting for a living Reddit. There are 2 obvious facts. The first fact is that there exist people who live off of sports betting/gambling. Bottom line — you can earn a living from sports betting. Only some people will go further than others. That’s life for you. For more information on making a living from sports betting, I recommend reading Smart Sports Trader’s Simple Guide To Making Money From Sports Betting. Originally published on 8 November 2016, and updated for 2021.
If you intend to bet sports professionally, you would be well advised to keep the betting bankroll completely separate from the rest of your money. Using a completely separate bankroll makes tracking winnings and losses much easier and psychologically makes it easier to place bets according to your plan.
If you fail to separate the expenses money from your sports betting bankroll, it can lead to you being too stressed about the outcomes of your bets and to improper tracking of winnings and losses.
Whether you are keeping a separate bankroll or not, it is always a good idea to keep a very detailed sheet with all your bets and their outcomes. The sheet is necessary for the detailed end of the month analysis and the analysis of individual bets, all of which are an integral part of the sports betting process.
In order to start betting sports, you will need to come up with a strategy and stick to it. However, this does not mean the strategy you choose should not be updated and developed over time. In fact, since the markets are constantly undergoing change, it is nearly impossible to be a long term winner if you do not adjust your strategy accordingly every now and then.
Such strategy re-developments have to be done in accordance with the data you collect, which is why keeping a detailed track of your bets is absolutely crucial to being a winner. A detailed sheet with all the bets, their results and as much fine detail as possible will help you decide if a market or a league is still profitable to bet after some time and make other similar adjustments to your general strategy.
Once every month or two, you should take a full day to just analyze your previous bets. Take out your sheet, find all the bets you made and analyze them to the finest possible detail. What is it that made your winning bets winners? Why did you lose some bets? Did you get unlucky in many spots or were you making poor decisions that led to the losing bets?
No matter how good you are at sports betting, there will be times when a poor decision will lead to a losing bet. This is completely normal and fine, but it is important that when you are analyzing your results, you realize where it is you made a bad decision, try to understand why you made it and take a lesson from it for your future bets.
There can be many reasons why a bettor would make a bad investment and these can often be related to pure greed and vanity. It is not uncommon that those of us who make a living betting sports want to show off to our friends or other punters and bets that are not really winners are often made just to prove a point. Additionally, most sports bettors can get greedy at times, but it is crucial not to let either of these reasons influence our betting pattern.
Even worse than vanity and greed can be boredom, that sometimes leads us into betting when there are simply no good bets to be placed. In such cases, you will often see professional bettors placing money on trivial bets that are simply not good investments and this is clearly not something we should be doing.
Bookmakers also try to influence us with their advertising and promotions, but it is the job of every respectable bettor to actually assess each promotion, price boost, and bonus and make an informed decision on whether to take it, instead of simply jumping into anything the bookies throw at him.
Overall speaking, more important than realizing why it is you are winning bets is why it is you are losing bets. Losses happen in sports betting as a result of variance and bad luck, but we must do our best to eliminate any losses that come from other factors that we could have influenced.
Always remember this! While there may have been a time in your life when you were betting for fun and pleasure, sports betting is now becoming your business and your primary or secondary source of income. Do not let your emotions, greed, boredom or any external factors get the better of you. Always keep the goal in mind and think strategically of your next decision. No matter how many bets in a row you have lost, do not deviate from what you know to be a winning strategy.
Deviation from your strategy can quickly lead back to you betting randomly and trying to pick out winners which is not what you want to do at all. It is all about finding value, so keep making good value bets, record your bets, your wins and your losses and the long term results will show you it was all well worth it.Can You Make a Living off of Sports Betting?
There are a lot of ways to earn a living these days and people are getting creative about how they do it. Things like baseball cards and video games used to be mere hobbies, but today, people are finding ways to create fortunes with them.
Sports betting is becoming incredibly popular and several people rake in plenty of dollars with their betting knowledge each year. Places all over the world are embracing sports betting and legalizing it.
But the real question is this — can you make a living off of sports betting?
Below we’ll answer that question and so many others. Use these guidelines if you’re thinking about winning big with sports betting.
The simple answer is yes. However, there’s nothing simple about earning a living through sports betting.
There are people who earn a living playing poker and other casino games. These high stakes games sharpen your skills against the best in the world and allow you to live an adventurous lifestyle that most could only dream of.
The fact is that there is plenty of money to go around for anyone skilled enough to earn a living through sports betting. The challenge is learning sports betting and growing those skills so that you can treat it like a job and not like a tourist spending time in Las Vegas for the weekend.
A lot goes into sports betting for a living, but the payoff is sweet if you’re willing to put the time and effort in.
So what can you do to become a professional sports bettor? Here’s a beginner’s guide for getting started:
You stand a much better chance to earn money with sports betting when you have deep experience in the sports that you’re betting on.
Nothing adds to the fun of a fight weekend like seeing the betting lines and odds released by Vegas. Too many people look at the betting lines that come out but don’t know or understand the true nuances of the sport.
It’s when you understand all of the players and moving parts that you can pick out those high-reward bets that can truly take your income to the next level.
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Treat yourself like a business and subscribe to sports packages that allow you to watch lots of sports competition, study game analysis, and read sports news.
Try out the demo version of a betting platform before you put down real money.
By using mock scenarios to learn the ropes, you get to learn exactly how betting happens without having to risk real-life money. This will help you get your confidence together and take the stress out of mistakes.
Most of today’s most reputable pay per head sportsbooks come complete with trials and demo versions that you can use to your heart’s content.
The real work happens when it’s time to research. Brush up on all of the different types of bets you can make and learn them like the back of your hand.
This means learning like the moneyline, spread, parlays and so many other types of bets. You need to familiarize yourself about when betting windows open and close, and whether you’re allowed to wager in-game.
Each platform has its own rules and you might see different odds depending on the pay per head bookie website that you’re going with.
The best thing you can do for yourself if you’d like to bet on sports for a living is to choose a platform that is reputable and trustworthy. The last thing you would want is to win a bet and find that there are snags in getting your payout.
A site that is susceptible to breaches and downtime could also leave you out of luck or unable to put money on a hot bet when the time is right.
Research the many different sportsbook betting platforms and choose a pay per head website that gets stellar reviews and the most trust in the gambling industry.
Look into sports betting software that also allow you to use Bitcoin and other forms of crypto.
It can’t be stressed enough that there’s a difference between sports betting for fun and doing it for a living.
If betting is what you like to do for a living, you need to set your life up to support this career. This means stashing aside large sums of money for a rainy day. Don’t touch the nest egg unless you absolutely need it.
Yes, that means even if you stumble upon a can’t-miss bet but don’t have enough money for it. Your rainy day fund will save your life and allow you to keep doing something as fun as sports betting for a living.
Keep your life as light and flexible as possible. Consider a rental agreement with a flexible lease. Many people live out of Airbnb’s or pay for their living arrangement upfront with cash after a few big sports betting wins.
Do whatever you have to do to secure your lifestyle so that you can stay level-headed and never act out of desperation.
So can you make a living off of sports betting? The tips in this article make that picture clearer for you. If you’re ready to learn a lot and have a comfort level of dealing with uncertainty, sports betting can become a fun and lucrative way to earn a living.
At www.AcePerHead.com, we have decades of experience in the industry and would be happy to help you out. Create a pay per head package with us today online or give us a call at (800) 909-5193 if you have questions.