In the past few years, sports betting has moved from the fringes to the mainstream. Long-held prejudices against gambling quickly went away, making way for a huge, multibillion-dollar market for legal sports betting. How do you get into this market like a pro?
Honour Your Bankroll
When you think of a professional gambler, you might picture a high roller who seems to care little about his money when he takes risks (if he has any at all). As you can see, that’s not true.
In fact, how each person handles their money is often what makes a “sharp” (a professional sports handicapper) different from a “square” (your college friend who bets on every game despite consistently losing).
If you don’t know what the word “bankroll” means, it means the amount of money you have set aside to use when gambling for real money. You have nothing to worry about if you lose this much money. Even though you don’t want to, it’s a good idea to think about that situation.
If you go to TonyBet, the easy-to-use features will make it easier to keep track of your bankroll.
Determine Your Play Percentage
Once you’ve set aside a certain amount of money, the next step is to decide how much you’ll bet on each game, hand, spin, etc. The majority of experts say that you should choose a betting range.
A good bankroll might be made up of $1,000 and a range of percentages from 3% to 5%. This would imply that you could bet up to $30-$50 on a single play. This helps you keep your bankroll going as long as you need to until you win a few games in a row.
Professional gamblers treat gambling more like a job than a hobby. The same care should be taken with your cash flow as with the budget for your business.
Professional gamblers have said for a long time that one of the keys to success is to be disciplined and stick to the idea that gambling is a business. If you can’t resist the temptations that come with gambling, you won’t be able to produce consistent results.
After losing a bet, most people double down on their next bet right away. If the first plan doesn’t work, try it again. A Martingale-System strategy like this one might seem like a good idea, but if you don’t have an unlimited bankroll, things could go wrong if you have a bad weekend.
But discipline isn’t just about how you handle failure. As the saying goes, it’s important to know when to “quit while you’re ahead.” For example, some experienced gamblers have said that after big wins, they put some of their money in the bank instead of adding it to their bankroll right away.
All of the information in this post makes it sound like the life of a professional gambler is more like a business than you might think, and that is true. If you act smartly, keep a close eye on your bankroll, do your research, and make a plan, you might be able to bet for a living one day.