Can one make a living off of sports gambling?!

[thinkingdog]

Or is it really just a pipe dream?

[iggs111]

Gotta be damn good to do it and prolly have some type of connection in vegas to get information that the public does not. You can make a living from taking people's action like Las Vegas does. Books never lose.

[thinkingdog]

True, I know the books are the real winners regardless of who actually wins or loses an actual sporting event.

But is there anyone on Cappersmall who actually makes a living on betting on games? Or do they know of anyone who has done it consistently and successfully?

[mikkii10]

i know one thing i would starve to death if i had to live off my gambling and i think you need one hell of a bank roll to keep you going if your having a losing skid too

[skins-win-supbwl]

Does part time count? I still have my regular business but i m sports betting more now and larger amounts. I have been winning small but consistently...I m trying to see if i could win about 75% of my business income for a long period and then i will consider doing do it full time seriously.

I only need 75% because with sports betting i dont have to pay my business rent and other expenses of running my regular business (which cost about 25% of my income). Not to mention i will be doing something I enjoy a lot more.

[thinkingdog]

Originally Posted by skins-win-supbwl

Does part time count? I still have my regular business but i m sports betting more now and larger amounts. I have been winning small but consistently...I m trying to see if i could win about 75% of my business income for a long period and then i will consider doing do it full time seriously.

I only need 75% because with sports betting i dont have to pay my business rent and other expenses of running my regular business (which cost about 25% of my income). Not to mention i will be doing something I enjoy a lot more.

If you think of your sports betting as your full-time job (and your regular business as part-time) and your income from betting would be enough to sustain you should you decide to leave your company, then that would be truly a great accomplishment.

Sounds like you're doing pretty well regardless. What is your sport-betting manifesto? How and what do you bet to win consistently?

[cman]

no...you need to start a book...I paid my way thru school with it

wde

[truegrinder]

Originally Posted by cman

no...you need to start a book...I paid my way thru school with it

wde

agreed!

[mvalentin]

how much of a bankroll do you plan on starting with?

it can happen, but like a dish washing job at a kitchen, its ramen noodles and wall mart living for the first couple of years


say you start with a 10K bankroll with 500.00 as your unit value

and then you do decent in a month and go 56% on 50 ATS bets (which in my opinion is awesome)

thats 28-22 +1,900 (14,000-12,100)

you made 1,900 in one month

that amounts to a yearly salary equivalent of 22,800 a year or 438 dollars a week

in average 40 hour work week that amounts to 10.95 an hour

slowly learning that its best to treat sports gambling like stocks or real estate

but then again tons of college kids save up 10 grand and move to LA or Europe to work in bars or hostels for the same amount

its possible, just realize its not a ballin lifestyle

[skins-win-supbwl]

Well I use to bet almost every game on the board...and didnt understand money management. I also chased alot. Now I just control the # of bets and manage my money better and if i m down I dont try to get it back the next game. Instead I will wait for a stronger play.

Overall successful gambling is about self control and managing your money wisely. I love the nfl and the nba...really hard to keep up with all the sports. I usually like to bet the same amount on all the plays and very very few parlays (its hard enough to win 1 straight bet).

[thinkingdog]

If say in this tough economy and rough recession, you were to lose your job...would any of you be able to take a $10,000 bankroll (savings) and make a $1,900 per month living (which is a lot better than unemployment) from sports betting? That would be pretty amazing...given the circumstances...could you do it? Use the aforementioned money management (skins-win-supbwl, mvalentine) and discipline to take that savings of $10,000 and use it to keep your family afloat for an indefinite period of time?

Or could just open a book, a la cman & truegrinder? How easy or difficult is that to do?

[Champ10]

Originally Posted by thinkingdog

If say in this tough economy and rough recession, you were to lose your job...would any of you be able to take a $10,000 bankroll (savings) and make a $1,900 per month living (which is a lot better than unemployment) from sports betting?

No. Very bad plan with only 10k to your name and a family to feed. Sports betting is the last thing someone should be doing in this situation.

[thinkingdog]

Originally Posted by Champ10

No. Very bad plan with only 10k to your name and a family to feed. Sports betting is the last thing someone should be doing in this situation.

True that, but my point is that if one were to think about this harsh hypothetical, could you set your brain into the mindset that this $10,000 is something YOU CANNOT AFFORD TO LOSE?

I was always told that you only gamble what you can afford to lose...but what if you HAD to do it - gambled like your life (and your family) depended on it?

Would you be able to have the discipline and the money management skills to make it not only last, but sustain you until you could find another job?

I know, it's a situation I hope that NONE of us would ever have to be in...but thinking about this extreme situation makes me think differently about the money I play with in sports gambling.

And if one were to treat their mad money for gambling as something that you could not afford to lose....would that make you a consistently better and more successful gambler? A better bettor, so to speak?

[actionsportscentral]

I think the hard part about making a living from this (or poker for that matter) is that you have to have to big of a bankroll to make enough to live as well as you could at other jobs. You MUST be able to ride out swings.... so to eke out a $100k/year profit, just think how much money you'd have to have to start - and how much you'd need to be betting. I bet between $100 and $300 per game and usually make a few thousand dollars a year. It would be insane to try and up this to a few hundred thousand a year!

[jonnyblaze]

One can and do make a living off of it, but forget this 10K bankroll and shit. You need at least $70,000 to do it because playing ML favs is going to be a staple of the plays; you need some good systems and of course smarts, discipline and connects.