If you want to learn how to become a better punter, you need to think of gambling as a job. You must learn the skills needed to be a professional gambler, or you can pay someone else to do the hard work for you.
If you want to become a full-time professional gambler that makes money from betting on your own selections, you need to consider several things. Most importantly, you need to understand the concept of value. You’ll also need to choose a sport or sports in which to specialize, choose your staking plan, fund your betting bank, and learn how to grow your betting bank successfully while also living off your profits.
Understanding The Concept Of Value
If there’s one word we bang on about more than any other in gambling it is… VALUE! A value bet is a bet where you think you betting on a selection that has a good chance of winning, but the odds that are available are bigger than you think they should be.
The concept of value is subjective, in that it is the opinion of the individual gambler as to whether the odds available about a selection are bigger than they should be. But it’s those gamblers that can find value bets that win regularly that profit from gambling.
Value bets are often found by going against the well-publicized opinions of popular media pundits. But popular favourites can still be value bets, providing you can find at least one good reason why their odds should be shorter.
If you’re starting out on the road to being a professional gambler, the concept of value should be at the heart and soul of every decision you make.
Choose A Sport In Which To Specialise
Deciding what sport or sports you will bet on is one of the crucial stages of becoming a professional gambler. Most specialize in just one sport, but a few manage to cover two sports. Some of the world’s leading professional gamblers, such as the legendary Tony Bloom, even have a team of statisticians and number crunchers working for them covering a wide range of sports. However, you need some serious cash to employ a team like that.
It doesn’t matter whether the sport in which you specialize is horse racing, football, greyhound racing, basketball, ice hockey, tennis, cricket, golf, or American football… providing you can pick a steady stream of value-priced winners that help you make a long-term profit.
There are lots of useful sources of information available online, but you need to be prepared to put in hours of hard work to find betting angles to exploit, preferably ones that other gamblers haven’t noticed.
Once you’ve picked a sport and committed to doing the hard work that’s required to be a professional gambler, you also need to consider what staking plan you’re going to use and what betting bank you will need to start.
Choose Your Staking Plan And Betting Bank
There are a variety of staking plans that their creators have given names to, such as the Martingale System and Kelly Criterion, and you may wish to base your staking plan on one of these tried and tested methods.
But when picking your own selections, only you can decide how much value there is in the odds that are available for each selection. So, you may wish to adopt a point-based staking plan. For example, you may opt to place between 1 and 5 points on each selection, with 5-points reserved for your best value tips.
You must then decide how much money each point is worth, whether that’s £10 a point, £100 a point, or £1,000 a point. However, the size of your per point stakes need to complement the size of your betting bank, with a starting bank of between 100 and 200 points recommended for this type of staking plan.
Setting Goals And Growing Your Betting Bank
Being a successful punter is a wonderful way to make money, but lots of gamblers get too greedy too quickly and pay the price. Many have been tempted to bet too big too soon, often after making a successful start to their professional gambling careers.
Others have also blown their betting banks by chasing losses after making a poor start to their gambling careers … but chasing losses is normally a short road to the poorhouse.
Once you’ve formulated a staking plan based on the betting bank you can afford, you need to set long-term goals that will help you earn a living and grow your betting bank successfully.
For example, if you’ve started with a betting bank of £10,000, you might aim to double this to £20,000 within three months. If you achieve this, you may decide you need £5,000 to cover living expenses, leaving £15,000 in your betting bank.
Now that you have £5,000 extra in your betting bank than when you started, this would be a great time to increase your per point stake by 50%. So, if you were placing bets of £100 per point in the first three months, you can now place bets of £150 per point for the next three months.
If the next three months are as successful as your first three months, you will have £30,000 in your betting bank. You may then wish to take out £7,500 to cover living expenses and start the next three-month period with a betting bank of £22,500. This means you can now bet £225 a point, and so on…
The above examples illustrate how you can grow your betting bank and increase the wage you take out when you set yourself achievable goals.
But there is a footnote of caution, as life as a professional gambler can be pathed with ups and downs. You may not achieve every goal you set, and you’ll have to readjust your staking plan and betting bank accordingly. You may even endure a losing period, after which your betting bank has decreased. So, where possible, make sure you have some rainy-day living expenses, so you don’t have to decimate your betting bank to survive.
Can I Become A Professional Gambler?
We’ve outlined a proven path to how to become a professional gambler in this article, so it’s time to be honest with yourself about whether you have what it takes to go it alone. It’s a path many punters have taken, but many have stumbled or fell along the way. But we wish you the best of luck if you take it.
Luckily, if you’re interested in making money from gambling, there’s an alternative way to going it alone. Instead of putting in all that hard work, you can pay professional gamblers that have already proven they have what it takes to do the hard work for you.
Betting Gods is a tipster platform that is used by many professional tipsters, who provide tips for over 120,000 of our members. Many of our tipsters provide tips for horse racing in the UK and Ireland. We also have a US Racing Expert and an expert greyhound tipster. We even cover football, basketball, ice hockey, American football, cricket, golf, and tennis.
Our tipsters take the hard work out of making money from gambling, and you can get the advice of any of our tipsters for an affordable monthly subscription. This will give you full access to all their tips, as well as advice about staking plans and betting banks.