Players often ask, “Can you make a living off of sports betting?”
Many people tell you that you can make lots of money on the stock market, but most people don’t. Why is that? You can read all the books and watch all the lectures from the experts on how to make a living off the stock market, but most people will still lose money. There are a few reasons why, but a big part is emotions.
Keep Emotions out of Betting
The same is true for sports betting. If players can keep their emotions in check, they might be able to make money. But that’s just one reason. If a person is a good poker player or a good golfer, he can decide to make a living out of it. Now, they have to make money at it. Before, it was entertainment that sometimes made them money. Now, they have to earn a minimum amount each month to continue ‘playing.’
Skill is a big part of earning money at any venture, but as entertainment, a person is learning and improving because they want to. It’s a hobby or a passion. Once a person wants to make money at something competitive, they must continue to practice and upgrade their skills.
Once someone chooses to go ‘pro,’ the stress increases, but so does the motivation and necessity.
It’s not that nobody can make money off of sports betting, but the odds are stacked against them. The reason they love to gamble (the incredible highs people get when they win) is often the reason they lose so often. Those damn emotions keep getting in the way.
Going Against the Crowd
Most people lose in the stock market because they sell low and buy high. Why do they do that? Because everyone else is. They follow the crowd. It’s the same in sports. I recently wrote an article about public betting. The public generally loses at betting, so it’s best to go against the crowd to win.
That’s always been easy to say but not so easy to do. The crowd is following its emotions. In the stock market, the price is going up; everyone is buying; I’d better buy. The price is going down; everyone is selling; I’d better sell.
Maybe that’s why bookies generally do better than bettors. It’s a business, you automatically go against the public, and your emotions are not a driving factor.
When someone follows sports so thoroughly and knows each sport so well, people go to them for advice about betting. They keep giving such good advice that it just makes sense for them to gamble. But for some reason, they don’t do as well on their own. Again, their emotions get in the way, and along with that, they start second-guessing themselves. After all, it’s their own money that they’re betting with now. There’s more at stake.
But if that person can get past that, they might become a profitable bettor. Many want to make a living in sports betting, but many also want to be professional poker players who win million-dollar tournaments. They have the dream but not the desire to do what it takes.
Ways to Become a Professional Bettor
There are several methods that professional bettors use to make a profit, but they take a lot of work and skill to operate correctly:
- Arbitrage Betting
- Matched Betting
- Value Betting
None of these directly have anything to do with sports, so if someone goes down this route, they’re probably no longer doing it for fun. They have to be prepared to do the work.
So, your players have to ask themselves, “Do I want just to have fun with my bets and win once in a while, or do I want to seriously work at sports betting and make some extra cash?” Like any money-making endeavor, you must work at it consistently to make money. You have to put the time into it.
Relax and Enjoy the Sports and Bets
For most of your players, that isn’t the case. They already have full-time jobs. Sports betting is just a release of tension, a way to unwind and have fun. But they still want to win whenever possible. That’s the whole reason they do it. Those are the bettors you want to work with.
The sharp players out there are the ones that can cause you problems. Depending on their bet size, they can affect your lines and odds. You may even lose money. Luckily, most bookie software platforms have tools to safeguard your business from losing out to those few bettors that make money at the game.
If you’re a BossAction pay per head agent, you can set limits for players so they can’t put down too much money on one bet and mess with your lines. And you can add alerts, so you are notified whenever one of your players makes a bet.
For those recreational bettors that can make a few extra dollars here and there, Boss agents will have no trouble managing a profitable sportsbook. Our many sportsbook management software features can help grow your business and safeguard it against the few successful sharp players that can negatively affect it.
If you’re still not a Boss agent, sign up today and get two weeks free. Betting agents who transferred to us before saw an average increase in cash of 23%. Now that we have pph poker, ClubPoker, that amount should increase a lot more. And you don’t have to worry about sharp players in ClubPoker.
Call now at 1-800-339-4108 and get a free consultation for your bookie business.
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