Although many individuals bet just for the fun of doing so and some others bet for entertainment purposes, there a few people who are serious about betting and would like to make a fortune from their betting career. In this article we share what you need to know about becoming a professional in betting.
Anyone who wants to make it as a bettor professionally knows that it requires a lot of patience and dedication to the goal. Beating the bookmakers as a career would require more than getting enough funds to invest and building a knowledge base for a sport you want to bet in.
You might have the information that is unknown to others, have a refined staking method that you feel has been tested and proven, yet still not be a professional bettor yet, read further to see what it takes to be a successful betting professional.
Your staking method is very important
Betting for a living does not mean you would make money at all times. Even the most successful and “skilful” bettors still place losing bets at some points. What you can do is to use a staking method that would see your money being used in the most efficient way.
Without the right staking method, you could create the best model and maybe start getting good results even, but with time you would lose your edge.
Understanding the value of information
Bookmakers usually buy information before setting their odds, and make adjustments accordingly also when information changes. Betting professionals may predict the outcome of games based on their skills, but they also make use of information that is at their disposal which no one else may have. Information like key players missing, weather condition, or previous records at a certain stadium could affect the outcome of games. Professional bettors use a combination of their skills and these information to place their bets.
Betting is not just about knowing how to predict
Although having an edge and the right staking method may maximise your profitability as a bettor, you would need to be able to predict the outcome of a sport event and determine if it has a potential positive value, before your staking method would be of any good to you.
The biggest mistake amateur bettors make is trying to bet on any and everything because they think it is all about being able to predict. Rather than betting on every sport, you would do better if you focus on one game. Most times niche markets like under/over market in soccer, and the NBA betting is very profitable despite bookmakers thinking they have a foothold on the market.
Choosing the sport to bet on
As we have stated before, becoming a betting professional requires finding an edge over the bookmakers in any sport you decide to bet on. But the truth is some sport would be easier than the others for any individual who hopes to forge a career in betting. With the information on Matchplug blog like understanding how Handicap betting works in different sports, you would be able to decide the best type or sports to bet on.
Measuring success in betting
The best way to know if you’ve been successful in betting is to compare your betting endeavour with the closing line – the closest odds to your calculation before an event. When you continually test the outcome of your strategy against the closing line of your bookmakers, you’d eventually eliminate the place of luck. Analysing your own results over time, cannot be overlooked if you want to be a professional bettor.
Betting with the right bookmaker
It may be hard to become an expert in a particular market, using the right staking method, and developing a good betting strategy, however it is also just as difficult to find the right bookmaker for you.
To become a successful bettor who makes enough money to bet full time, you need to consistently use a bookmaker who offers the highest odds. You would also have to be betting as much as you want, so using a bookmaker that gives the highest limit is also important as you would not want to be limited in any way. You would also do well to bet with a bookmaker that has no restriction on those who make too much money betting.
Some other rules that you should abide by after the above include: Don’t let your emotions get in the way of your betting, don’t fall for randomness, and don’t ever bet with any cash that you would not want to lose.