As sports gambling grows, more and more people are dabbling in it for the first time. Some people will start to lose money pretty early on, and never want to play for anything more than a little fun.
However, others might start to win on a more consistent basis. If the wins are piling up, there might be thoughts of doing this full-time and seeing if there is any potential.
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Can Sports Gambling be a Job?
The short answer is that yes, sports gambling can become a job. Some people have sports gambling as their main source of income. However, the road to success is a lot harder than most people think. It takes a certain mindset and work ethic to win consistently enough to not have any other sources of income.
How Many People are Profitable in Sports Gambling?
Studies show that a very small percentage of sports gamblers actually make a profit in the long run. The true total falls in at around 10%. When looking at those numbers, it’s important to realize that just a percentage of that 10% are wagering enough to earn a living as well. There’s one thing to be profitable over the year and win a few thousand dollars, as compared to winning $50,000 or more in 12 months.
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The $50,000 goal is a good one to use to differentiate moderate winners and ones who are treating sports gambling as a job. Most want to win quite a bit more than $50,000 in a year, but that’s when it starts to mimic a job someone could go get instead of gambling all the time.
Tips on Making Sports Gambling a Job
It is one thing to wish for being a professional in sports betting, but it’s another to pull it off. Having the proper mindset from the get-go will increase the chances of long-term success. These tips should all be used as part of growing the approach and evolving into a full-time sports gambler. By being a smarter gambler, the odds of success sway.
Treat it Like a Job
It seems simple enough, but maybe the best tip for sports gamblers wanting it to be their job is to treat it like a job. There are way too many people who only dabble in sports gambling, and then they wonder why they are so inconsistent.
There’s nothing profitable in life that will just happen without putting in the work. Being a professional sports gambler means creating a system, being consistent, putting in the time and effort for research, and so much more. Many are not going to turn the corner until they go all in.
To make this even more frustrating, hard work and dedication don’t automatically equal success. If someone is using a system that just doesn’t work the way it should, they won’t be turning a profit. That’s why part of the job is constantly making tweaks to the system.
Set and Monitor a Bankroll
In the early stages of sports gambling, people might be testing the waters and seeing just how much they can win consistently. Once there is a pattern of winning consistently, it’s all about growing the bankroll gradually to a comfortable point.
Try to abide by the unit rule and limit wages as much as possible early on so that the entire bankroll is not at play at once. Going all-in on a certain matchup is a recipe for disaster, even if it seems like a sure thing.
Proper bankroll management is the same as operating the finances of a small business. It’s better to grow slowly and steadily than to take any type of risk right away.
Keep the Numbers in Perspective
Getting overwhelmed by numbers is a pretty easy issue to fall into. It’s crucial to have a basic understanding of the odds of an outcome, the payout odds, and how often wins need to occur to turn a profit.
In most scenarios, a person needs to win about 53% of the time to turn a profit. This is when looking at single-game betting only. Parlay bets won’t have to hit nearly as often to break even or do better. Those people who want to stay with parlThis means managing the highs and the lows throughout the year. There will be cold streaks when people dip below 50%, and hot streaks going above 60% or better. Keeping all the numbers in perspective is the only way to have an idea on the year.
Find the Most Favorable Odds Always
Sports gamblers are always facing an uphill battle with the sportsbook odds. After all, there’s a vig worked into every single matchup so that the sportsbook wins. However, one way people can benefit is by finding the best odds for them every single time. That means shopping around for the best odds and placing a wager on that sportsbook offering them.
Online gambling has gotten to the point that there are numerous sportsbooks out there with great reputations. Having an account on as many as possible will ensure that there’s no opportunity to place a wager at the right time. Simply log in and jump on the odds before they are readjusted to something else.
For example, every single sportsbook could have an underdog at +250, while one offers +260. Winning just a little bit more on that bet can help long-term. It means there is a little bit more wiggle room down the road on another bet.
Don’t Rely on Others
No sports gambler is going to have success by counting on others to get them to where they want to be. Reading a bunch of conflicting experts talking about who they think will win is going to be counter-intuitive for any person striving to make their own business.
Professional sports gamblers should be looking at these picks made by others as merely suggestions. Yes, that goes for our experts here as well. Relying 100% on somebody else is probably not going to turn into a winner. There are just too many other factors that go into developing a system that works. Remember, if someone is turning a profit, they likely aren’t going to share every single pick they make with the audience.
Stop Being a Fan
A very hard thing to get up as a sports gambler is fandom. There are still opportunities to root for a team, but not when there is money on the line. Showing favoritism clouds people’s judgments and leaves them in a financial hole most of the time.
It’s recommended for beginners to just go ahead and stay away from their favorite teams. Only seasoned players might be able to accurately separate the fandom part from the actual wagering.
Will Sports Gambling Feel Like a Real Full-Time Job?
The hours that people put in to be professional sports gamblers will mimic a regular job. In fact, most will spend more than 40 hours a week working on sports gambling information.
What people call work might not feel like work to those who enjoy gambling on sports. For example, a lot of the legwork people need to do is watch games and break down statistics to look for trends. This type of analysis might not seem like a work-related activity, since people have been doing it for years.
The Benefits of Turning Sports Betting into a Job
Sports betting as a job is so enticing because of the money benefits. Instead of solely focusing on negative reasons why someone struggles, it’s important to also look at the positives. It’s common for sports gamblers to say that they would be doing many of the same things even if they didn’t have it as a job.
Never Truly Feels Like Work
Find something enjoyable, and it will never feel like that before work. That’s certainly the case with people who have enjoyed sports for a long time. There might be some highs and lows, but people still enjoy themselves overall.
Work from Anywhere Opportunities
Not having to go into an office and be married to a specific time is a great feeling for many to have. It can be a little frustrating having to work during primetime hours right before games start, but most were planning on watching those games anyway.
Limitless Opportunities
There’s no cap on the amount of money that people can win with sports gambling. There are a few well-known gamblers who have made it to the top and have won more money than they ever could’ve imagined with great jobs.
As sports gambling becomes much more mainstream than before, the negativity surrounding this activity goes away as well. People weren’t that pleased to talk about sports betting openly even 20 years ago, but now it’s much more common.
Is Sports Gambling Worth Exploring for a Job?
Anyone passionate enough to put in the necessary work should give professional sports gambling to try. It takes quite a bit of learning and research to feel confident like the professionals.
It’s just another job that might not be for everyone. If someone doesn’t feel like they can handle all the hours and work every single month a year, they shouldn’t get into it. There are still opportunities to bet on the side, but nothing too crazy.