During the early 19th century, gamblers’ betting on horses was popular. Soon after that, it became a tremendously profitable industry with money pouring in from all over. However, the general attitude towards sports betting was quite lax, and although it was becoming prevalent, it was still illegal. It wasn’t until 2018 that sports betting finally became legal.
The internet gave birth to plenty of virtual opportunities. With legal bets and online operations growing in rapid numbers, this is the perfect time to get on board. But if you’re a sports fan and have an itch for some fun and action, don’t start betting before you know what you’re doing. That’s an easy way to lose a lot of money.
So whether you want to place a sports bet for fun or are looking to become a seasoned professional, look no further. We’ve prepared for you the ultimate guide to walk you through the basics and essentials of professional sports betting.
What is sports betting?
Before learning how to become a pro at sports betting, it’s crucial to understand it.
Sports have existed long since ancient Greece. And contests have been around for just as long. With every competition or sporting event held, someone always bet on an outcome. The internet has opened up new platforms to place bets. It’s now possible to find the best betting sites compared to when bettors only had limited resources and not much room left for research.
As a rookie, sports wagering may seem pretty simple at first. You pick who wins, and if they win, you make money. But, in reality, though, it’s not that simple.
Think of sports betting as a market. Like most markets, it keeps changing due to infinite factors and projected outcomes. Various reasons like play injuries, coaching, experience, and matchups significantly impact its operations, making it fluid and dynamic. Learning to recognize these spots and how they affect a team’s performance makes betting immensely profitable. But it’s essential to understand that not every bet will have value, so you must pick and choose critically.
What is the value of sports betting?
Merriam-Webster defines value as the monetary worth of something. However, in sports betting, we associate finding value with a proposition that pays its winners better than it should. Contrary to popular belief, you don’t make money betting on sports by backing winners. Instead, you earn profits by identifying and acting on bets that offer a bigger payout than a wager initially indicates.
When finding value, sports bettors, therefore, look for wagers where an oddsmaker undervalues a particular team’s chances. Although it may sound complicated, you can get the hang of it once you get in the game. Some people believe it comes from experience, while others think it’s all about crunching numbers and data analysis.
How to become a professional sports bettor?
The general population perceives a professional sports bettor as making thousands of dollars with every bet. They also think an expert gambler probably never loses. But the reality is that even the best bettors don’t win nearly all the time.
Although building a career in sports betting may seem extraordinary and insanely profitable, it comes with a few swings. If it were that easy, everyone would’ve been a winner, and bookies would have no jobs. Therefore, invest your time and effort in understanding the ins and outs of sports betting before you dip your toe into the gambling market. And even though you might not become a pro overnight, following these tips can help you get started on the right path.
While earning a substantial figured salary is everyone’s ultimate aim, you must draft realistic targets to make annual earnings. You can do this by setting particular goals for each sport you bet on, allotting your largest goal to the sports you know best and then moving on from there. Doing so allows you to track your progress and help monitor how much more you want to win.
Keep track of your gambling records
To improve your current strategies, you must first record your most and least successful wagers. Identify trends and patterns in your wins and losses to see where you’re making a mistake. For example, are you better at betting on favorites or underdogs? Notice if you make several small wins at once or have significant victories scattered here and there. By analyzing your strengths and winning points, you can use these to your advantage when placing the next bet.
Manage your money efficiently
A helpful strategy most punters benefit from is planning and sticking to a staking plan when you start gambling. As a professional sports bettor, you can’t afford to take major risks because every move affects your earnings. Set specific budgets and choose how much you can stake on each bet to manage your funds better. Without limiting yourself to a strict budget, you may end up losing everything.
The best part about sports betting is that it’s likely to stick around forever. As long as there will be competitions anywhere in the world, someone’s going to bet on them. Whether professional football or casino games, gamblers will place their wagers.
Additionally, sports betting is fun because you can never truly master it. Trends change, teams hire new players, and coaches retire. But with proper research and commitment, you can very well succeed professionally and even make a nice living off of sports betting.