Earning a living at sports betting, myth or possibility?
I know quite a lot about some sports and I have tried to bet on them but I failed miserably. Also, the real experts (like former players and game analysts for example) who have a tremendous amount of knowledge about a certain game, often end upon making terrible predictions about the outcome of a game.
So, I wonder, are there fellow out there that can actually make a living betting on sports? If so, do they know more about a sport that gives them an edge? Do they use systems? In short, what do they do and know that other unsuccesful bettors don't?
Sports betting seems pretty straightforward to me, but to make money at it consistantly and growing a bankroll sounds just impossible, or not?
- Vegas MattLv 710 years agoFavorite Answer
Most people who think they know sports really have no concept of what it takes to bet on them for a living. They spend maybe an hour or two reading the newspaper or internet articles about teams each week and then think they know everything. Real professional sports bettors spend 40 hours a week or more researching their bets just to attain a small long term edge (maybe a 2 or 3% ROI), then make huge (5 figure) wagers.
As far as how they make bets, most try to do the same thing the sportsbooks do: establish a line. If the line they determine is similar to the sportsbook's line they don't bet, but if it is significantly different, they place a bet. The people who make the actual casino lines are the best at what they do, but they are only human and there are certainly people who don't work for the casinos that are better at creating lines. That is why betting on sports for a living is possible and does happen.Source(s): Professional Gambler living in Las Vegas.
- Anonymous3 years ago
2Source(s): Winning Sport Picks http://givitry.info/WinningSportsPredictions
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- pdqLv 710 years ago
Possibility? Yes. Probability? VERY, VERY slim!
I'm glad you're beginning to realize just how hard this is. Only about 1% of people who bet on sports do so profitably. YOU are not one of these people, and neither am I. The difference is, I've accepted this fact, and I no longer throw my money away on sports betting.
I am not an expert on sports betting, but I know a little about what these people do:
These folks spend hours and hours each week analyzing statistics, players, conditions, teams, and betting lines. They come up with a handful of "high percentage" picks on which they place their bets. They never bet more than a small percent of their bankroll on any single game because they know there is NO SUCH THING as a "Lock" in sports. ANY of their picks might lose on ANY given day. Anyone who tells you they have a "Lock" on a game is either lying to you so they can sell you their picks, or is an idiot, or both.
These folks are, above all else, DISCIPLINED! They are disciplined in their approach to making picks, and they are disciplined with their bankroll.
I'm sure they have a method by which they make their picks. They might call that their "system". What it really all boils down to is this - THEY have the same information as the people who make the lines. It comes down to finding what they consider MISTAKES in the line. A football line is listed as the Patriots -4, but they are convinced that the Patriots really should be around -2. So the bet on the team against the Patriots plus the 4 points. They figure that around 60% of the time they are going to be right on this one particular pick, and that will give them enough IN THE LONG RUN to make a profit.
Here's what most people do - they see a team that they KNOW is going to win, and win big!!! They are "sure" of it! The line is -10, but that doesn't matter to them. They are so sure this team will win big that they bet 50% of their bankroll.
With 42 seconds left in the 4th quarter, the underdog is behind by 11 points and is going for a 48-yard field goal attempt. The kick is up.........
The outcome just doesn't matter! My point is they might win and they might lose. These people are flying on emotions and whims and are clueless how to find a high-percentage play. I am clueless how to find a high-percentage play, but at least I finally have accepted this fact.
Both SportsBettingInsights and Vegas Matt beat me to the posting. Both of those are excellent posts that are saying similar to what I said, but more clearly and more simply said!
- Ranger4402Lv 710 years ago
If it you want to wash dishes in a restaurant then that is very easy to accomplish because washing dishes is easy work. Things that are easy are easy for a reason. They often don't require a lot of skill and time.
If sports betting is an easy way to make a living then thousands of folks would do it.
It's not easy. As other people have posted it is very difficult.
- ImaHarperLv 710 years ago
I've talked to people in Las Vegas who make a living at sports betting. They may make a bet on other sports, but the vast majority of their betting is on horse racing. There are many races most days & they study the racing sheets & carefully pick their races. You need to have a system & the discipline to stick to it.
- 4 years ago
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