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Constantin  
#1 Posted : Friday, January 27, 2017 3:33:00 PM(UTC)
Constantin

Joined: 7/2/2011(UTC)
Posts: 607
Romania
Is it possible or not to be an overall winner year after year when betting on sports? And here I am not talking about arbitrage betting.

Subjects like this will always split opinions in at least two groups of people. One group saying "no way a player can beat the house which has an edge of 3% to 10%, mathematically is not possible (without bonuses at least)".

The other group (a much smaller one for sure) will tell you they know someone, or there are themselves making a living from sports betting.

I believe it is absolutely possible to overcome the house edge in sports betting! But you need to be sedulous, have a good money management and always be up with the latest news (who is injured, how is the weather and many more details) to be successful in sports betting. Remember that the ones who set the odds are people as well and they might not always get the true odds of an event happening.

I can detail way more but I'd like to hear some opinions from the other group too. All I am saying is, it is possible to make a living from sports betting (even though not anyone have the skills to do it). Are you with me?
kattboots  
#2 Posted : Wednesday, February 01, 2017 1:44:23 PM(UTC)
kattboots

Joined: 12/2/2011(UTC)
Posts: 236
I think that if someone took one or two sports and studied them constantly, that person could make a living at sportsbetting. However, the "work" required to keep up on even one sport in detail would be as much work as anything else one works at.

And even then, sports or other forms of betting can be fickle and that might mean all that work goes without a paycheck. Just building a bankroll that can stand the ups and downs of gambling can be a tough thing to do.

By far, the best way to make a million betting on sports is to start out with two million!

Katt
Constantin  
#3 Posted : Wednesday, February 01, 2017 7:56:26 PM(UTC)
Constantin

Joined: 7/2/2011(UTC)
Posts: 607
Romania
There are quite some websites which do provide most of the info needed... The hardest part is to put everything head to head, and ofcourse have/build a big enough bankroll to support swings. Applying Kelly Criterion one would need about 100 units to bet on profitable games at odds of around 2.00 -- for going in super safe, a 200 unit bankroll would be enough to support the worst downswings.

But of course if the odds are higher, there will be a need of a much bigger bankroll. As we as for lower odds, a lower bankroll. Doable :-)

Edited by user Wednesday, February 01, 2017 7:57:06 PM(UTC)  | Reason: Typo

kattboots  
#4 Posted : Wednesday, February 01, 2017 8:51:10 PM(UTC)
kattboots

Joined: 12/2/2011(UTC)
Posts: 236
You make a point Constantin. Either type of bankroll and getting through downswings would work, mostly to keep being able to bet. But, how can a punter do that and pay the bills , rent a house, etc. He would have to have a giant bankroll so he could make large enough bets to keep that giant bankroll, while draining off money to live on. This person would have to be extremely up to date on his sport of choice and have a good bit of luck to go with it.

I think I would like to try it by starting with the 2 million. LOL

Katt
Constantin  
#5 Posted : Thursday, February 02, 2017 5:10:05 AM(UTC)
Constantin

Joined: 7/2/2011(UTC)
Posts: 607
Romania
If your selections will provide a 10% profit and you are able to find 100 selections to bet on per month, a $10,000 bankroll, should provide you with a $500 income per month. Keep increasing your bankroll by adding all your profits to it and in two years you'll be looking at over $1,200 income per month... keep doing this one more year and things will look great... Once you are happy with your income, cash out your profits once at 3-4 months and manage it in a way live on that for the next 3-4 months until you are going to cash out your profits again.

Betting bankroll shouldn't be associated with day to day expenses. That bankroll stays strictly for betting until you happy with the profits.
kattboots  
#6 Posted : Thursday, February 02, 2017 1:51:11 PM(UTC)
kattboots

Joined: 12/2/2011(UTC)
Posts: 236
Ok Constantin, you have just made my eyeballs roll around in my head.... MATH.... But, I do understand now that you have to take a few years to build up a bankroll that would withstand the ups and downs and allow one to live on the winnings. That makes sense to me. I had been envisioning that one would need to start with a huge bankroll. Thanks!

Katt
Constantin  
#7 Posted : Thursday, February 02, 2017 4:54:27 PM(UTC)
Constantin

Joined: 7/2/2011(UTC)
Posts: 607
Romania
Yes... one need either a very big bankroll to start and live on the profits made with that right from the start, or a decent big bankroll and grow that up within a few years... Starting with $500-$1,000 wouldn't do it. Still, I see it worthy if one manage to put it all head to head.
thanks 1 user thanked Constantin for this useful post.
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