Kengur2017

How to become a professional bettor

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Hello

This is my first post ever here and first of all i want to say hello to all member here. The reason that i started this discussion is that i need a help and advice from professional people in this branch.

First of all i will tell something about me, i am 35 years old, work and have familiy. I know sports, i know sports predictions, sports betting, odd, online bookmakers, but i never saw this as professional occupation, most as fun. And due this reason only, i am not so successful in sports betting. But i am ready to turn the page and take this as one very seriously investment in my life and need a lot of advices from professional bettors, from people that is winning money with sports betting and that is taking money from bookmakers, not giving mone to them, on long term of course.

My first question here is as follow, is there any another betting strategy except then betting on single bets, that on long term can almost guarantee profits from sports betting if you can successfully predict sports events? The reason that ask this is that my betting bank is not ready yet, and if i will take sports betting to next and i hope to successfully level, then i ned to have one good betting bank that some losing runs will not quickly detroy my all betting freams. So i will maybe firstly hear about another successfully betting strategies where i dont need to have huge money bank to make solid monthly profits. I hope that you understand my point here. Simply said, if i want to earn from sports betting each month 100 or 200 euro, i am looking firstly for one successfully strategy where i dont need to have betting bank with 2000 or 3000 euro to make this 100 or 200 euro.

If this is not good idea and if a huge procentage of you think that betting on single bets is only way to successfully betting, then i will also hear good reasons for that.

 

Shortly, i want that professional bettors step by step learn me and help me with my way to professional betting. I will carefully erad each word and advie here and take it in calculating of my future plans.

 

Thank you that will use your time to help me..I really need it at the moment because i am in periode when i want to make huge decissions in my betting world.

 

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Welcome to the forums, new myself.

Have been gambling for few years, only recently considered it more serious and to make it a personal mission to destroy the bookmakers :)

I would keep a bank acc seperate for gambling imo, away from your other personal savings and money. This way you can begin to manage bank roll with its wins and losses more easily.

I personally think you have to find your own style and method, if its singles or parlays or dogs whatever works for you imo. But singles are a great way to start.

I would recommend you pick a sport you are comfortable with and know a great deal about its players and rules.

Yes for sure you can start small and build on your success, as your bankroll increases you could in theory increase bet size to win more. This is kinda the method I am doing now, but its not always easy to maintain it requires discipline and patience.

Some people adopt the turtle system, ie if you want to be the hare you won't win the race but the turtle will, patience and timing is a good key.

But others disagree, to each his/her own imo.

I know guys that started with 200, 2-3 years ago and now have 120k+, some guys I know make 2-3k per week some 5K and others 30k per week its possible, but you can expect losses just as much as wins and you may hit roadblocks with bookmakers limits and restrictions.

Its a challenge for sure, I would not give up the day job just yet, more so if you got bills and family!

 

 

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On 6/27/2017 at 9:30 PM, Kengur2017 said:

Hello

This is my first post ever here and first of all i want to say hello to all member here. The reason that i started this discussion is that i need a help and advice from professional people in this branch.

First of all i will tell something about me, i am 35 years old, work and have familiy. I know sports, i know sports predictions, sports betting, odd, online bookmakers, but i never saw this as professional occupation, most as fun. And due this reason only, i am not so successful in sports betting. But i am ready to turn the page and take this as one very seriously investment in my life and need a lot of advices from professional bettors, from people that is winning money with sports betting and that is taking money from bookmakers, not giving mone to them, on long term of course.

My first question here is as follow, is there any another betting strategy except then betting on single bets, that on long term can almost guarantee profits from sports betting if you can successfully predict sports events? The reason that ask this is that my betting bank is not ready yet, and if i will take sports betting to next and i hope to successfully level, then i ned to have one good betting bank that some losing runs will not quickly detroy my all betting freams. So i will maybe firstly hear about another successfully betting strategies where i dont need to have huge money bank to make solid monthly profits. I hope that you understand my point here. Simply said, if i want to earn from sports betting each month 100 or 200 euro, i am looking firstly for one successfully strategy where i dont need to have betting bank with 2000 or 3000 euro to make this 100 or 200 euro.

If this is not good idea and if a huge procentage of you think that betting on single bets is only way to successfully betting, then i will also hear good reasons for that.

Shortly, i want that professional bettors step by step learn me and help me with my way to professional betting. I will carefully erad each word and advie here and take it in calculating of my future plans.

Thank you that will use your time to help me..I really need it at the moment because i am in periode when i want to make huge decissions in my betting world.

 

@Kengur2017 :welcome to Punters Lounge.

I don't know if this will be useful to you or not but I have written down some things that are important to bear in mind if you want to take betting seriously:

 

Psychology

 

 

First of all, if you do not have the correct mentality then you will not be able to develop into a professional bettor.

‘Tilt’ or ‘Gambling rage’ is one of the first major obstacles that needs to be overcome if you are serious about betting. Tilt is a term usually associated with poker but it can apply to any form of betting:

 

https://en.wikipedia.org/wiki/Tilt_(poker)

 

Tilt affects all people to some degree, some only suffer from it mildly and can completely eliminate it with a combination of changes to lifestyle and perspective. At the other end of the scale you have chronically impatient degenerates with no self discipline or perspective, the affects gambling has on these people can be highly destructive.   

 

Ask yourself: “Do I have self discipline? Can I take a loss or a string of losses and still retain my composure? Do I react to losses by making rash or impulsive bets?”.

 

Patience and self discipline are key factors if you wish to become a professional bettor. In my view any professional bettor does not see his or her line of work as a get rich quick scheme. Unless you luck out with some kind of crazy accumulator or long odds punt it will take time to build your bankroll.

 

Hurrying to reach the pot of gold at the end of the rainbow can be a toxic mentality. It’s great to visualise a better future for yourself and creating a plan to achieve that but wanting something and wanting it right now will not aid your quest.

 

Do you enjoy the process of becoming a professional bettor? If you really do not enjoy the process at all then why are you devoting your time and energy to it in the first place? Obviously the goal is to make money but you shouldn’t try to make money from something you really don’t like as it will inevitably compromise your ability to execute the process effectively.

 

You have to enjoy the process of getting there and you have to enjoy the process of learning. Never think you know it all, because believe me no-one does. The road to becoming a professional bettor is a constant process of learning and improving, the path is not smooth and chances are there will be setbacks.

 

If and when setbacks occur can you maintain your self discipline and motivation?

 

 

Bankroll Management

 

 

Obviously your betting bankroll needs to be completely segregated from all your other forms of expenditure. Your ability to pay the bills cannot be dependent on how well your betting career is doing – especially if you have a family.

 

Set aside only what you can afford to loose as your initial betting bankroll, then understand and accept that it cannot be used for anything other than betting.

 

Even if you have only set aside a relatively small amount of money for your initial bankroll you must still treat that money with respect. If you want to take betting seriously then a bet must never seem frivolous.

 

One of the first objectives of any serious bettor is to never go broke (loose their entire betting bankroll). The partitioning of your bankroll into individual bets must be sustainable.

 

A sensible way to grow your bankroll over the long term is through compounding:

 

http://www.investopedia.com/walkthrough/corporate-finance/3/discounted-cash-flow/compounding.aspx

 

Partition your results over quarterly or annual periods then incorporate the profits from the latest period into your staking structure.

 

For example:

 

You have an initial bankroll of $5000 which is divided into 40 individual fixed stake bets of $125 (2.5% of total bankroll)

 

At the end of year 1 you make a profit of $1000 so total bankroll is now $6000.

 

Year 2 - Your fixed stake bet would be $150 (still 2.5% of total bankroll)

 

At the end of year 2 you make a profit of $1200 – total bankroll now $7200.

 

Year 3 - Fixed stake would be $180 (still 2.5% of total bankroll)… and so on and so on.

 

By using compounding you can exponentially grow your bankroll in a safe and sustainable way. It will require patience and discipline, especially to begin with, but if you are consistently profitable then I would advocate it as a good way to grow your bankroll.

 

Sustainability

 

 

 

 

When it comes to sustainability as a career, one of the main questions is “Where can I get my bets on?”. Bookmakers are no fools, if you are a consistently profitable bettor then sooner or later you will get limited or banned – nothing you can do as it’s in the terms and conditions you agree to in order to bet with them.

 

One way to negate this problem is to have accounts with lots of different bookmakers and rotate your bets. It’s generally a good idea to have accounts with different bookmakers as you want to take advantage of different offers and prices etc. Despite this, rotating your bets with different vendors could still be problematic in the long term if you are consistently profitable.

 

 

Betting exchanges is the way to go if you don’t want to get banned or limited. On an exchange you’re betting against other bettors with the exchange operating as the middle man who matches up both sides of a bet. The exchange makes its money from charging commission for each bet made, usually between 2-5% (very reasonable in my opinion).

 

The main problems you will face with an exchange are:

 

Does it have the market you wish to bet on?

 

Does the market you wish to bet on have enough liquidity to get your bet matched?

 

Your access to betting exchanges will vary depending on what country you live in. Some of the main ones are:

 

https://www.betfair.com/exchange/

 

https://www.matchbook.com/

 

https://www.pinnacle.com/

 

https://www.sbobet.com/

 

https://smarkets.com/

 

If you’re not sure on who to bet with then ask around on this forum and check bookmaker review sites. Always do your research on the various operators and keep appraised of how they’re progressing. If you want betting to become your business then you have a responsibility to follow the industry at large and pay attention to new developments.

 

Never leave excess money in an online account for longer than you have to. Your bank should be the safest place to store the core of your funds – distribute them to the various exchanges and bookmakers only when necessary. This will help minimise your exposure if an operator goes bust or they inexplicably transfer your funds to bongo bongo land.

 

 

Methodology

 

 

 

From reading your post I suspect this is the area you wish to learn most about. Personally I have no special system to offer you, no low risk to high reward strategy, no promises of gold and jewels untold.

 

The phrase ‘There’s a million ways to make a million dollars’ also applies to betting. The various methods and strategies you could adopt to become consistently profitable from betting are too varied and too numerous to catalogue in a single post.  

 

Ultimately betting is about finding errors in the pricing of an event. If you believe a market has priced something incorrectly you can take advantage of it. Generally speaking, sports betting markets are not stupid. They evaluate outcomes with efficiency but this does not mean they never make mistakes. Your job is to capitalise on those mistakes at every opportunity. This requires diligence and dedication, you must always be on the lookout for opportunities in the market.

 

The more knowledge you have on a sport / subject, the more you can spot the opportunities in the market when they present themselves.

 

Specialising in a particular sport will help you, it should be a sport that you like watching and can watch regularly in order to gain qualitative information:

 

https://www.simplypsychology.org/qualitative-quantitative.html

 

Preferably it will be a sports market which is covered by the betting exchanges with enough liquidity to match your bets.

 

Personally I believe it’s important to develop your own betting strategies rather than follow or rely on other peoples. What if you are following someone else’s betting strategy but you do not really understand it and that person then disappears? You probably wouldn’t have learnt much and would be back at square one. Someone may very well come along on this thread and say “Hey Kengur, I have a great betting system that you might want to follow” and it might indeed be a good system but if you can’t fathom what’s behind it then you’re not really going to advance as a bettor. If you want to be ‘professional’ at something you have to be independent and generate your own ideas. Never rely on others to spoon feed you as it’s not sustainable over the long term.

 

Punters Lounge is a great site in my opinion – use it. I have learnt a lot from seeing how other people do things over the years on here, there’s lots of useful information on these boards. Just don’t expect anyone to wave a magic wand and make you rich overnight – the world seldom works like that.

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Thank you guys, a lot of good staff here..

 

I probably allready made decission, i will bet on leagues i know best and i will bet only with single bets and doubles..But then i have next question and need one professional answer...What is the best number of bets i can take per day or week? I know its all about value, but i can few sports and can pick up a lot of good informations from many leagues or few sports, so what is the maximum number of bets i should take per day or week? Here we really must divede a professional betting, betting for fun and gambling. I am looking for this first one.  So i need good advices here.

 

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25 minutes ago, Kengur2017 said:

Thank you guys, a lot of good staff here..

I probably allready made decission, i will bet on leagues i know best and i will bet only with single bets and doubles..But then i have next question and need one professional answer...What is the best number of bets i can take per day or week? I know its all about value, but i can few sports and can pick up a lot of good informations from many leagues or few sports, so what is the maximum number of bets i should take per day or week? Here we really must divede a professional betting, betting for fun and gambling. I am looking for this first one.  So i need good advices here.

 

Personally I never set quotas or targets for the amount of bets I'm going to make in a day / week / year. Such an approach would ultimately be self defeating as you would end up forcing yourself to make bets that are not profitable over the long term.

I only bet when I believe the market has made a pricing error. The real task is to find as many price errors as you possibly can, your betting frequency / volume will take care of itself.

The frequency of bets you make will tend to vary between leagues. One year you might find lots or price errors (and therefore make lots of bets) in a particular league but the next year there might be less. Same thing between individual coupons, one week there might be 2 or 3 bets that you want to make, the next week there might be none and you will need the discipline to sit out the coupons where you can't find anything.

Just remember that the more leagues you cover, the more time and effort will be required to keep track of everything and make good decisions.

 

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Speaking purely on a personal level, psychology/mindset is key.

Learn, if you can, to accept losing in exactly the same way as winning. When I see a punter fist the air after a win, I also see an indiscipline that would not work for me. If you're so elated with a win, then you're likely to be equally downcast with a loss. Such emotional roller-coasters can be the downfall of even the best punter. My personal test with this is if my wife can detect from my mood, actions, temper, if I've had a chunky win today or a heavy loss. She always has to ask. Adrenaline junkie I am not, but emotionally stagnent ... possibly!

Contrary to other views, I don't believe an in-depth knowledge of your sport is necessary either, in fact in my case it can be a hinderence. I have much less of a knowledge of the sport which makes up the major part betting than the average bookies shop regular, but I probably have a better understanding of using and applying statistics.

Crunching the numbers works for me, but gut feeling, based upon my expertise(??) is something to completely ignore. If the calculation says bet, but I feel it looks unlikely, I ignore the stats at my peril, and inevitably to the detriment of my bank.

Also make sure you'll be able to bet what you want, when you want, a simple fact which unfortunately is a facility denied by all too many bookies. I've been primarily a spread bettor for the past 20 years and have found them to be very tolerant of winning accounts (Irish based Sportsspreads excepted).

If you're looking to make 200-300 per month, bear in mind just what that entails. At a 10% margin you'd be staking 2000-3000 per month. Would that be by 20-30 x 100 stakes, or 2-300 x 10 stakes? To make a full-time return those figures get multiplied by 10. After any preparatory work, placing a bet takes time, placing many, many bets without making errors, takes a great deal of time.
 

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On 6/27/2017 at 10:30 PM, Kengur2017 said:

Hello

This is my first post ever here and first of all i want to say hello to all member here. The reason that i started this discussion is that i need a help and advice from professional people in this branch.

First of all i will tell something about me, i am 35 years old, work and have familiy. I know sports, i know sports predictions, sports betting, odd, online bookmakers, but i never saw this as professional occupation, most as fun. And due this reason only, i am not so successful in sports betting. But i am ready to turn the page and take this as one very seriously investment in my life and need a lot of advices from professional bettors, from people that is winning money with sports betting and that is taking money from bookmakers, not giving mone to them, on long term of course.

My first question here is as follow, is there any another betting strategy except then betting on single bets, that on long term can almost guarantee profits from sports betting if you can successfully predict sports events? The reason that ask this is that my betting bank is not ready yet, and if i will take sports betting to next and i hope to successfully level, then i ned to have one good betting bank that some losing runs will not quickly detroy my all betting freams. So i will maybe firstly hear about another successfully betting strategies where i dont need to have huge money bank to make solid monthly profits. I hope that you understand my point here. Simply said, if i want to earn from sports betting each month 100 or 200 euro, i am looking firstly for one successfully strategy where i dont need to have betting bank with 2000 or 3000 euro to make this 100 or 200 euro.

If this is not good idea and if a huge procentage of you think that betting on single bets is only way to successfully betting, then i will also hear good reasons for that.

 

Shortly, i want that professional bettors step by step learn me and help me with my way to professional betting. I will carefully erad each word and advie here and take it in calculating of my future plans.

 

Thank you that will use your time to help me..I really need it at the moment because i am in periode when i want to make huge decissions in my betting world.

 

The only way to be a serious / professional player is to use betting exchange services to place your bet.

I have been a professional player for the last few years and I guarantee that the only way to successfully betting is to use betting exchange services,  have / possess a good database and have / possess good statistical analysis of data.

There are several other important factors, but they are secondary.

in translation, it means that you have to be ahead of others, using your information you have to create an advantage over other.

The second segment is money management.

From the aspect of betting, especially live betting and betting exchange, money management is specific because good money management can compensate some error of match predictions.

There are four goals which money management must achieve. These four goals are:management

   reduce risk of ruin to 0 percent

   optimise the risk (Risk-Reward Optimisation)

   reduce cost

   increase bank / portfolio (also known as bankroll)

 

If you are interested in details, feel free to ask

 

 

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There is some very good advice on this thread but I thought i would add to it as I've been a professional for nearly 2 years and have worked in the industry for 10+ years. However despite being successful I'm leaving the industry and starting in an entirely new career.

First thing I would say is that you simply do not just become a professional. It typically takes years of work, research learning etc to learn how to win and for me this was done whilst working full time. I only went full time when I knew I would earn more from betting than my job. The biggest consideration is then sustainability. Just because you may be able to make a profit now does not you mean you will able to in the future. Markets tend to become more efficient over time, your edge can easily disappear and other people will almost certainly figure out what you have in the future. You will have to be constantly learning and developing new strategies to stay ahead which is very difficult! It's already been mentioned but ultimately you need somewhere where you can win and this means exchanges or Asian bookmakers. Problem here is that many markets (which is the case for me) are much more accurate at betfair and the Asian bookmakers are typically the best at what they do. What makes you think you are better than these guys? My betting partner and I have taken approximately 400k from bookmakers in 2 years. However, bookmakers are becoming better and quicker at closing any potentially profitable accounts. Unless you have unlimited accounts (I would estimate I've used around 100 in this time) winning from European bookmakers is not a sustainable option.

I would also ask why is it you want to become a professional? People think the life of a professional gambler is glamorous but it certainly isn't. For me I've been working a massive number of hours (more than when I worked for someone else). It will typically involve working by yourself in front of a computer at home, which can become very isolating. Pro gamblers live on the edge of society in my opinion and this can be difficult to deal with. Yes there are advantages such as flexibility being your own boss, no tax etc but there are negatives such as no sick pay, no pension, no promotions, no yearly pay rises and also remember what happens if it doesn't work out. You will have a big gap in your CV should you wish to renter the workplace.

Finaly the betting industry is cut throat. Can you deal with this psychologically? If you can't cope with losing you will fail imo. Everyone is out to get you, whether that is bookmakers or other gamblers they all want your money and they don't care how they get it. No one is going to give you a betting system or strategy that makes money. If you want to be profitable you must learn to do it yourself. Sorry if I sound negative about the prospect, it certainly is possible to make it as a professional but it's bloody difficult. If the financial benefits outway the negatives than great but for the vast majority this will not be the case. 

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1 hour ago, thebigp said:

 

 

@thebigp

Okay, but you have not listed what the benefits are. 

Second, you are starting from the wrong assumption

What are the advantages? 
for the beginning, you have no one above you. You do not have a boss, you do not have a working time of 9-17.
In a word, you have freedom.
 
Why do I say that you have gone from the wrong assumption?
When you decide how much you will work, get the assumption of how much you would get a salary if you go to workthen copy that projection to the betting and then you'll see how much you have to work.
 
example:
if your projection is to earn $ 5,000 /a month, then when you make that money you stop betting and enjoy the freedom
It means, If you succeed in earning that money in 15 days, you will have 15 days each month for enjoyment
 
That is the advantage of this profession
 
Looks like you did not understand the benefits of this profession well, if you sat all day in front of the computer and just made the money
Edited by Vidich

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On 18/12/2017 at 8:53 AM, thebigp said:

There is some very good advice on this thread but I thought i would add to it as I've been a professional for nearly 2 years and have worked in the industry for 10+ years. However despite being successful I'm leaving the industry and starting in an entirely new career.

Sorry if I sound negative about the prospect, it certainly is possible to make it as a professional but it's bloody difficult. If the financial benefits outway the negatives than great but for the vast majority this will not be the case. 

An excellent post and although@thebigp sounds as though he is speaking from genuine experience there are surely many ways to make a decent living from betting and certainly not restricted to strategies which are too time consuming.

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On 27/06/2017 at 11:20 PM, Mr Marcus said:

Welcome to the forums, new myself.

Have been gambling for few years, only recently considered it more serious and to make it a personal mission to destroy the bookmakers :)

I would keep a bank acc seperate for gambling imo, away from your other personal savings and money. This way you can begin to manage bank roll with its wins and losses more easily.

I personally think you have to find your own style and method, if its singles or parlays or dogs whatever works for you imo. But singles are a great way to start.

I would recommend you pick a sport you are comfortable with and know a great deal about its players and rules.

Yes for sure you can start small and build on your success, as your bankroll increases you could in theory increase bet size to win more. This is kinda the method I am doing now, but its not always easy to maintain it requires discipline and patience.

Some people adopt the turtle system, ie if you want to be the hare you won't win the race but the turtle will, patience and timing is a good key.

But others disagree, to each his/her own imo.

I know guys that started with 200, 2-3 years ago and now have 120k+, some guys I know make 2-3k per week some 5K and others 30k per week its possible, but you can expect losses just as much as wins and you may hit roadblocks with bookmakers limits and restrictions.

Its a challenge for sure, I would not give up the day job just yet, more so if you got bills and family!

 

 

Hi,

'You seem to know a lot of pro gamblers !

When you say £30,000 is possible ,technically yes it is but you don't  know anyone making that amount I take it ? `Even `Patrick Veitch 'only' made £20,000 a week on average.

Whst about the guys who started with £200 and in two years have £120,000 + !

You know more than one person who has done that !?

Whst deport were they betting and why ,if they're so talented and knowledgable did they start with such a low bank !? 

Definitely not soccer yes?

Edited by moggis

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On 21/10/2017 at 11:26 PM, Vidich said:

The only way to be a serious / professional player is to use betting exchange services to place your bet.

I have been a professional player for the last few years and I guarantee that the only way to successfully betting is to use betting exchange services,  have / possess a good database and have / possess good statistical analysis of data.

There are several other important factors, but they are secondary.

in translation, it means that you have to be ahead of others, using your information you have to create an advantage over other.

The second segment is money management.

From the aspect of betting, especially live betting and betting exchange, money management is specific because good money management can compensate some error of match predictions.

There are four goals which money management must achieve. These four goals are:management

   reduce risk of ruin to 0 percent

   optimise the risk (Risk-Reward Optimisation)

   reduce cost

   increase bank / portfolio (also known as bankroll)

 

If you are interested in details, feel free to ask

 

 

Hey,I'm really sorry ,I dont  mean to pick on you but with the exception of money management almost everything you've said is wrong.

If you hadn't said you guarantee it's right I'd have let it go.

So specifically, you can make a living without using the exchanges .

You don't need a good database and you don't need good analysis of data.*

 

In case you dispute this , let me point out thst what you say might be true in many markets but they aren't true in outright markets.

Which is one of several  advantages of betting on outright markets.

 

* If this one seems unlikely I'd add that many outright markets can be traded using at times laughably simple methods .

 

Edited by moggis

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On 23/09/2017 at 9:08 AM, Data said:

Speaking purely on a personal level, psychology/mindset is key.

Learn, if you can, to accept losing in exactly the same way as winning. When I see a punter fist the air after a win, I also see an indiscipline that would not work for me. If you're so elated with a win, then you're likely to be equally downcast with a loss. Such emotional roller-coasters can be the downfall of even the best punter. My personal test with this is if my wife can detect from my mood, actions, temper, if I've had a chunky win today or a heavy loss. She always has to ask. Adrenaline junkie I am not, but emotionally stagnent ... possibly!

Contrary to other views, I don't believe an in-depth knowledge of your sport is necessary either, in fact in my case it can be a hinderence. I have much less of a knowledge of the sport which makes up the major part betting than the average bookies shop regular, but I probably have a better understanding of using and applying statistics.

Crunching the numbers works for me, but gut feeling, based upon my expertise(??) is something to completely ignore. If the calculation says bet, but I feel it looks unlikely, I ignore the stats at my peril, and inevitably to the detriment of my bank.

Also make sure you'll be able to bet what you want, when you want, a simple fact which unfortunately is a facility denied by all too many bookies. I've been primarily a spread bettor for the past 20 years and have found them to be very tolerant of winning accounts (Irish based Sportsspreads excepted).

If you're looking to make 200-300 per month, bear in mind just what that entails. At a 10% margin you'd be staking 2000-3000 per month. Would that be by 20-30 x 100 stakes, or 2-300 x 10 stakes? To make a full-time return those figures get multiplied by 10. After any preparatory work, placing a bet takes time, placing many, many bets without making errors, takes a great deal of time.
 

Psychology is indeed key in short term markets .

However it's signicantly less of a factor when betting on outright markets . Mainly because if you lose you only lose once or twice a year but for other reasons also .

 

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On 18/12/2017 at 8:53 AM, thebigp said:

There is some very good advice on this thread but I thought i would add to it as I've been a professional for nearly 2 years and have worked in the industry for 10+ years. However despite being successful I'm leaving the industry and starting in an entirely new career.

First thing I would say is that you simply do not just become a professional. It typically takes years of work, research learning etc to learn how to win and for me this was done whilst working full time. I only went full time when I knew I would earn more from betting than my job. The biggest consideration is then sustainability. Just because you may be able to make a profit now does not you mean you will able to in the future. Markets tend to become more efficient over time, your edge can easily disappear and other people will almost certainly figure out what you have in the future. You will have to be constantly learning and developing new strategies to stay ahead which is very difficult! It's already been mentioned but ultimately you need somewhere where you can win and this means exchanges or Asian bookmakers. Problem here is that many markets (which is the case for me) are much more accurate at betfair and the Asian bookmakers are typically the best at what they do. What makes you think you are better than these guys? My betting partner and I have taken approximately 400k from bookmakers in 2 years. However, bookmakers are becoming better and quicker at closing any potentially profitable accounts. Unless you have unlimited accounts (I would estimate I've used around 100 in this time) winning from European bookmakers is not a sustainable option.

I would also ask why is it you want to become a professional? People think the life of a professional gambler is glamorous but it certainly isn't. For me I've been working a massive number of hours (more than when I worked for someone else). It will typically involve working by yourself in front of a computer at home, which can become very isolating. Pro gamblers live on the edge of society in my opinion and this can be difficult to deal with. Yes there are advantages such as flexibility being your own boss, no tax etc but there are negatives such as no sick pay, no pension, no promotions, no yearly pay rises and also remember what happens if it doesn't work out. You will have a big gap in your CV should you wish to renter the workplace.

Finaly the betting industry is cut throat. Can you deal with this psychologically? If you can't cope with losing you will fail imo. Everyone is out to get you, whether that is bookmakers or other gamblers they all want your money and they don't care how they get it. No one is going to give you a betting system or strategy that makes money. If you want to be profitable you must learn to do it yourself. Sorry if I sound negative about the prospect, it certainly is possible to make it as a professional but it's bloody difficult. If the financial benefits outway the negatives than great but for the vast majority this will not be the case. 

Very interesting post .

However I really must pick you up on something you've said that many people also say and is in fact 100 % false.

"No one is going to give you a betting system or strategy that makes money. "

I myself have been giving away what I have no doubt whatsoever is the best way to make money from gambling.

Its not my fault that people ignore everything I say .

Well one member of this forum didn't . He contacted me 5 years ago and has made £60,000 since using that very strategy !

I myself just missed out on a fortune last season when Doncaster lost their last 4 games of the season. Just one win would have done .

 

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On 23/01/2018 at 2:40 PM, moggis said:

Psychology is indeed key in short term markets .

However it's signicantly less of a factor when betting on outright markets . Mainly because if you lose you only lose once or twice a year but for other reasons also .

 

Spending several months monitoring how your bet position is doing can be very stressful I find. A wham-bam single event which is all over after the race is run / the match is finished is my preferred modus operandi.

 

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very interesting guys , this is 1 reason i joined PL , i would love to hear of a good strategy , or system  , as mine  seems to have just failed  , lol  ,,, and why would people give it away ?  , thats why there are 100s of not great systems for sale .ie one i saw advertised . was just a plain martingale ,  someone was selling for big money ? 

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Edited by Decookie

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7 minutes ago, Decookie said:

very interesting guys , this is 1 reason i joined PL , i would love to hear of a good strategy , or system  , as mine  seems to have just failed  , lol  ,,, and why would people give it away ?  , thats why there are 100s of not great systems for sale .ie one i saw advertised . was just a plain martingale ,  someone was selling for big money ? 

cookie

:welcome to PL @Decookie  :ok 

That's just it, there is no holy grail as such otherwise the bookies would be out of business. ;) 

It's about gaining knowledge, keeping disciplined and not chasing losses, and believing in your own method of pricing up matches/players etc... 

Don't be fooled by money flowing in for a certain bet, there is often a lot of sheep pushing these types of bets and they fail as much as they win in my opinion.

Look at Joseph Parker against Joshua tonight - there's TON of money gone on Parker "allegedly" but I don't know anyone that's backed him at all! Bookies are great at making you think a bet is popular so you won't actually bet on what seems a straight forward win. It applies across all sports.

I remember Athletic Bilbao last season drifted massively because their front 2 strikers were out. They drifted something like 2.20 out to 3.70 ish. I kept the faith with them as the odds were huge, and my opinion was they are a top flight side who have quality on the bench and will survive. Would I have backed them at 2.20? Probably not, but 3.70 was ridiculous. They won 3-1 if I remember right, they definitely won anyway. :ok 

Believe in your method, don't be swayed if the price looks too big, so "something must be wrong" and kick their butt. ;) 

 

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thanx , 

2 minutes ago, Sir Puntalot said:

:welcome to PL @Decookie  :ok 

That's just it, there is no holy grail as such otherwise the bookies would be out of business. ;) 

It's about gaining knowledge, keeping disciplined and not chasing losses, and believing in your own method of pricing up matches/players etc... 

Don't be fooled by money flowing in for a certain bet, there is often a lot of sheep pushing these types of bets and they fail as much as they win in my opinion.

Look at Joseph Parker against Joshua tonight - there's TON of money gone on Parker "allegedly" but I don't know anyone that's backed him at all! Bookies are great at making you think a bet is popular so you won't actually bet on what seems a straight forward win. It applies across all sports.

I remember Athletic Bilbao last season drifted massively because their front 2 strikers were out. They drifted something like 2.20 out to 3.70 ish. I kept the faith with them as the odds were huge, and my opinion was they are a top flight side who have quality on the bench and will survive. Would I have backed them at 2.20? Probably not, but 3.70 was ridiculous. They won 3-1 if I remember right, they definitely won anyway. :ok 

Believe in your method, don't be swayed if the price looks too big, so "something must be wrong" and kick their butt. ;) 

 

thanx , and yes good point ,  cant see AJ losing , in my opinion  but not betting on it lol 

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