Just like a person who yearns to be an actor and moves to Los Angeles for all the sparkle and glitter of Hollywood, there are confident sports bettors who think they have the chops to make it as a professional gambler in Las Vegas.
This person has made money betting on a fairly regular basis and all his friends are amazed at his skill to beat the sportsbooks or the bookies. Maybe after a particularly good season in a particular sport and not having any responsibilities other than taking caring of themselves, they take the plunge with their $20,000 bankroll and another 30K of life savings and head to Sin City.
Then, six months or maybe two years later, they return to where they came from, broke and in need of a job, with no place to live.
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That happens far too often and not because this individual forgot how to pick winners, rather, he lacked the proper preparation. If you want to be a professional, just like in any profession, you have to set yourself up for success.
Money Management Is The Key To Everything
If any sports bettor doesn't know how to manage their money, they're doomed to failure. To be a professional bettor, you have to make enough money to start with that it can cover your cost of living and provide you a profit. If at any time you are making wagers to make a big score to offset losses that are bleeding your resources, "scared money" seldom wins.
Like an accountant, keep detailed records of every bet, doing so in a journal or spreadsheet where you can also make notes. This not only helps you track your money, but you can do a self-critique which teaches you to become a smarter bettor. This includes using words like; bad bet (you), bad beat, right side, turnovers were killer, lucky and won on solid info. Small catchphrases are a great referral that can help you make smarter bets and hopefully prevent you from making the same mistakes over and over.
Many sharp bettors hit a far lower percentage of bets won than what most people would think. However, through research, they find specific games they want to bet more heavily on based on a variety of factors and use their years of experience to find the right number and spot and bet it accordingly. They will trust their instincts and knowledge and bet their head to make a big score, not just "trust their gut".
Be an Expert in One Sport and Learn How To Be an Expert In Another
Just because a person played a sport or watches a lot of sports does not make one an expert. You might know more than most people, but that is not going to beat oddsmakers consistently. If you are good at football and truly understand the difference between the NFL and college football and how to beat the odds in both, that is a starting point.
If your goal is to make a living betting, become either a college basketball or NBA expert. It's best not to do both because of differences are extreme. Choose one and make baseball the third sport, which gives the potential to generate income year round.
Nobody just decides - "I'm a professional gambler", without years of betting experience in learning the trade. Going against the oddsmakers at MyBookie, Intertops or America's Bookie or any wagering outlet is an ever-changing adventure and having the best information places any bettor in the best possible position to win.
Understand This is a Job and How To Handle Losing
While many see this as a glamorous way to make a living, it's not. The fact is being a professional sports bettor is a straight commission job. You win you get paid, you lose, money is going out. It is great to celebrate a big win or a huge day, but the fact is you need to have your wits about you the very next day to place bets.
How to Become a Sports Bookie?
One of the biggest downfalls that drive even very qualified bettors out is losing. Think of it this way, Take out possibly two weeks for a vacation and few other assorted days, you are talking about betting 345 days a year. Over that time, like every human being, you will have a variety of moods. If you win various amounts of money at a rate of say 55 percent, that would mean you would have 156 losing days. Think about that. And, because life never happens in an orderly fashion, many of those losing days come in bunches of anywhere from two to seven, sometimes longer.
For those with the right amount of money to live, understanding money management, are an expert and can handle the day to day ups and downs, this can be a rewarding and fun way to make a living. Just make sure you can check each box we talked about and set yourself up for personal success.