Becoming a sports betting pro:
For many sports gamblers, professional bettors seem to have the ideal life, they get to wager on sports for a living, make their own hours, and earn epic profits.
Although it seems like a glorious and glamorous lifestyle, it actually involves a long and slow climb to the top.
We will discuss with you how to realistically make your path towards becoming a pro at sports betting. www.fanduel.com has all the information you need on building your sports betting career.
Don’t expect to win big with a small bankroll:
While it is a nice idea to make lots of cash on small cash bets, you will not get very far if you have a 53% or 55% win rate, you are only placing $10 bets. You can’t even earn a dollar profit from each wager this way. That being said, if you are looking to be a professional bettor, you need a very large bankroll to do this.
You need to exploit your long-term edge in bigger bets in order to make some serious profits.
As a low level pro you may place £2,000,000 worth of bets over the course of a year, and will win 54% of your wagers at -110 odds. Generally betting at this level, you would typically lose $1,012,000 in a year and make a $68,000 profit. But these are just vague numbers.
To summarize, you need to be ready to spend a lot of cash.
Build your skills and bankroll:
You can’t immediately jump into sports betting and conquer it straight away. You need to put hours in, and study sport betting strategies, whilst also slowly increasing your bankroll at the same time.
It is worth working on your handicapping skills too. The more your handicap, the better a chance you have of consistently winning your wagers. Start out with low stakes bets and track results, doing this you won’t lose too much money if your betting skills aren’t yet up to par. It is unlikely you have $100,000 just lying around to use for betting, but you can build this up through steady investments and improving your skills.
Increase your bet sizes over time:
Never jump right in and take $1,000 wagers. You want to work up to that. Study, gain experience, and build up your bankroll first, then provided you have an edge you can start earning larger profits with bigger bets.
If you have a large enough bankroll, you can even earn thousands of dollars per wager, but you need the bankroll to back up large bets like these otherwise you can ruin your betting career, or put yourself in financial jeopardy.
If you wanted to place $500 bets, you need a bankroll with at least 100 units to survive this, you would risk 1-3 units on every match on average. This means you should start with at least $50,000, which is 100 units per $500 apiece.
Becoming a pro bettor is not just about the bets, It’s also about financial management.
