This presents alternative ways for professional gamblers to make money: Follow the syndicates or take on favorites – who typically lose around two-thirds of the time.
.jpg)
As you can bet for or against sporting outcomes, it is often likened to financial traders playing the stock markets.
You can buy into the sports bets you like by backing them and sell the ones you don’t by laying them not to happen.
What exchanges allow you to do is supplement any bets you have made through fixed odds sportsbooks. That means you can cover all your bases. This is a wise move.
Clever professional gamblers are always trying to create scenarios where they cannot lose.
Developing this sense of timing is the key to sports betting success.
That brings us on to arbitrage betting, or “arbing” for short.
Hunting down those margins allows you to back and lay the same outcome on a sporting event, guaranteeing you a profit regardless of the final result.
As you are gambling across different websites and betting services, you need to keep very good records of your wagers. This prevents confusion.
As each hand is dealt and played, you need to know which cards are on the table and which have yet to appear.
You’ll also need to keep track of all the cards that have been previously played as well as calculating future probabilities.
In other words, you need to be a math whizz.
? How Casinos Catch Card Counters And Why You Should Avoid Trying It
Pros And Cons Of Being A Professional Gambler
Pros and Cons of Being a Professional Gambler
As with any job, there are upsides and downsides to betting for a living.
You should carefully consider the pros and cons of becoming a professional gambler before trying it as a career:
If you enjoy sports or card games, then it won’t feel like work.
You can always take your business elsewhere, but the marketplace has become smaller.
Online BettingResearch and knowledge are needed and must be kept constantly up to date, which might turn treasured pastimes, like watching sport, into something of a chore.
You can also lose a lot of money – there are no guarantees with gambling.
On the road to betting as a pro there are some handy bits of advice you’d do well to follow.
These tips are ones that many professional gamblers have learned over the years.
1. Practice Good Bankroll Management
Although there should be more profits than losses, managing your betting bank balance is essential.
Smart bettors will withdraw some of their profits while leaving themselves something to play with for future bets.
Smart bettors will withdraw some of their profits while leaving themselves something to play with for future bets.
It is well worth looking beyond the soccer match, horse race or sporting event you are currently betting on to see what is going on elsewhere.
Even though you’re not wagering on this other match, you might learn something or even find a potential punt for the future.
Even as a pro, there is one golden rule: Never bet more than you can afford to lose.
Keep to your budgets and within betting limits. Sticking to these is vitally important as overstretching can lead to financial ruin.
We know it might be tempting to try and win your losses back after a bad day, but you will probably just dig a deeper hole.
Accept the loss, move on, and don’t overstretch.
So, there you have it. Anyone who wants to bet for a living needs incredible knowledge and dedication.
Professional gamblers can’t take shortcuts and must study the sports or card games they play thoroughly.
Ego and emotions must be left at the door when it comes to decision making. Logic and data should take their place.