Can you live from gambling? If our parents dreamed of winning a pool and retiring, millennials are betting on becoming tipsters and selling their predictions to avid players. However, we are already warning you that succeeding in this world is very difficult and highly unlikely.
18 Tips to make a living from sports betting.
1. The probability of living from sports betting is very low.
If you really want to seek success with sports betting you should take it seriously , it is not a matter of fun or throwing a few euros to see what happens. This is the biggest mistake that is made and that is why 75.5% of players in Spain lose money with bets and other games of chance online, according to the 2015 report from the Directorate General for the Regulation of Gambling.
Another revealing and distressing fact for your claims is that only 0.55% earned more than €3,000 in the year . However, you have read a thousand and one articles about balls in combined or how the Clan of Los Skunks made a lot of money in six months betting online sports. Where is the fault? Who lies? How to pass next to the winners?
You have a lot of information on the Gambling Regulation website about statistics, bookmakers, etc… You can see the different reports from here.
If you think of a greater number of annual benefits, put yourself, for example, at €18,000, which would be about €1,500/month, the percentage would drop to a few very small tenths.
This would be the first rule that you have to keep in mind, the probability is against you and it is in favor of the different sportsbooks.
2. You have to have a bankroll according to your profit goals.
First of all you have to put YOUR AMOUNT, that is, the annual amount that you aim to achieve, then we will explain why we think that the amount has to be annual.
To serve as a reference, we can consider a good investor in sports betting one who achieves an average return of 15%/month and has little deviation.
You can make the calculations very easy, but to get €18,000 per year with a return of 15% per month, it is necessary to have a minimum capital of €10,000, from experience I will tell you that you should always have a safety margin… honestly because you can face bad streaks. I would advise you to think about having that 50% safety cushion.
Of course, if your goal with sports betting is to get a bonus, different from living on bets, the bankroll will be less than that amount.
3. Always bet with your head and never with your heart.
Many of the best bettors will tell you that where they have lost the most money… it has been…. with his team of all life. The advice is clear, if you cannot be objective with the team you love, DO NOT MAKE ANY SPORTS BET WITH THAT TEAM.
I would also tell you that if you have a special animosity towards the great rival’s team, apply the same rule. If you cannot be objective DO NOT PLACE ANY SPORTS BET WITH YOUR TEAM’S GREATEST RIVAL.
4. Pay attention to the positive streaks and the negative streaks.
It is super normal to have negative streaks and to have super positive streaks. We must not think that when we have got everything right we are gods, nor when we have all lost we are the worst in the world. We are talking about streaks, and sports betting is something especially about streaks.
The biggest failures and where more people have lost money has been after an incredible streak of successes. The advice is that you double your studies and analysis before positive streaks, with the negative ones I am clear that you will ALWAYS analyze them
5. Always think in year-over-year terms.
One of the most frequent mistakes is to think in monthly terms, and obtain a certain amount… IT IS ABSURD! I give you several compelling reasons so that you understand it.