Here I am sitting at my desk and I think to myself, ‘how do you make money as a proffesional gambler?
So, how do you make money as a gambler?
A guaranteed way of making money as a gambler is through arbitrage betting. Arbitrage betting is a game where you look for odds that give you the opportunity to bet money on all potential outcomes, and be guaranteed a positive result. Arbitrage opportunities arise when the odds at different betting companies are far enough apart.
The easiest way to explain arbitrage betting is with an example: Hobart Hurricanes meets Brisbane Heat in the BBL and we look at the moneyline odds. Moneyline means that overtime and penalties are also counted. This means that we only have two possible outcomes. Either Hobart wins or Brisbane wins.
In this example, Sportsbet pays 2.05 for Hobart to win and Ladbrokes pays 2.05 for Brisbane to win. We have now found an arbitrage opportunity where we can earn 2.5% on our entire investment.
We are betting 100 USD in Hobart at Sportsbet and 100 USD in Brisbane at Ladbrokes. If Hobart wins, our balance at Sportsbet will be 205. If Brisbane wins, our balance at Ladbrokes will be 205.
We therefore invest 200 USD and regardless of the outcome, we will earn 5 bucks.
If you didn’t quite get that, don’t worry I didn’t either the first time, then you can take a look at this Youtube video that I found who first explained this to me:
How to make extra money by gambling in a safe way
Many people around the world have used online gambling as a way to earn some extra money, especially in times when they have not had much other work.
Some people have even managed to live on their income through gambling.
If you are one of those who dream of earning a few thousand bucks more a month and dream of being able to do this by playing online games, you need to know valuable strategies, but also the risks that come with it.
Here are some of the most important tips, in my opinion, that will help you on the way to making extra money through gambling – and at the same time feel safe online.
1. Decide what kind of gambling you want to invest your time in
The first step to becoming a master of gambling and making money is of course to decide what kind of gambling you want to do.
It can be good to have an approximate picture of what you want to play before you start, as there is an extremely large amount to learn.
It will take time, and if you do not have a lot of time in advance, it pays to choose only one approach.
What types of gambling are there then? Actually, there are hundreds of different variations, but the main categories I would say are casino games and betting.
Depending on what you feel most urged to and most interested in, you should choose this.
Casino games are much more based on chance and luck than betting is. However, this does not make one or the other less fun.
2. Read about your chosen gambling category and all that it entails
Now you have hopefully decided whether it is online casinos or betting you want to spend time learning about and investing money in.
Betting takes a little longer to get acquainted with than the casino does.
When it comes to betting, you need to familiarize yourself with the game, its players and leagues, learn about odds and so on.
Casinos are a bit less complex, although it pays to know the games and your odds here as well.
A good website to get information from is Youtube, it’s what I use. Otherwise, you can also just do a search on Google to find more information about each game.
3. Plan your play in the best way and get good results when making money as a gambler
To succeed in gambling and make money, whether it is by betting on a specific sport or by taking the risk of an online casino, it is important that you have a plan for your gambling.
This can mean that you set aside time every day where you play, which makes your gambling more goal-oriented – but also safer when you do not exceed the number of hours per week.
It can also mean that you make a budget that you have to follow, which is also based on your gains and losses.
By having a gaming budget, you get a better overview of your gambling and can reduce the risk of your gambling becoming an addiction.
10 important tips on how to become a successful gambler
To become a successful professional player, one must possess a large number of personal abilities.
The reason why there are only a small number of successful players in the world is the fact that there are not that many people who possess the abilities required to achieve it.
In the following section, I will present some of the key skills that have helped some of the world’s most successful professional players to sow their success.
1. The Ability to do Research as a Gambler
Among the abilities required of a professional player is the ability to do research. A player must be able to do research on the match he is going to play and find out which strategies may be suitable. These abilities are the most important when it comes to betting on sports.
Betting on sports is a complicated form of gambling and it requires a person to know a lot about different things in order to place a successful bet.
Because of this, a player must be able to do research on all the important factors that can affect the outcome of a match.
2. The ability to plan time as a gambler
A professional player needs to be able to organize his time in the best possible way.
He or she needs to find the right time when they think they have the greatest chances of success and they also need to organize their time to do their research before they actually start playing a particular casino game.
Some players think that they have more chances of success if they play a certain casino game at a certain time of the day.
The ability to plan time is extremely important for players who play online casino games because choosing the time when there are not a lot of other players can bring success to some players.
3. You need patience to make money as a gambler
It goes without saying that patience is one of the most important skills for any professional player. A player should not stress with his or her decision and he or she should be patient enough to make the best possible decision.
Waiting patiently for the right opportunity and playing your hands carefully can lead a person to real success.
Making quick decisions is not something that is recommended for professional players, as it often happens that they make mistakes due to their hasty reactions. A player should be able to think about his or her move before actually making the move.
In this way, they will possibly be able to anticipate future moves and eventually win large sums of money.
4. Perseverence is key as a gambler
So many times we have heard stories of people giving up without making a real effort. In games, perseverance can be crucial for some players.
Giving up at the first sign of trouble or worry is not something that will lead to success for a professional player.
With patience and perseverance, a player could turn the turn in his favor. When it comes to professional gaming, one thing is for sure.
Every professional and amateur will face problems.
5. Good memory is very important when gambling
Depending on which casino game you play, a good memory is an ability that can make a huge difference. In card games like poker or Blackjack, a good memory plays a crucial role.
Remembering the cards you have and which cards have passed can lead you to make decisions that will give you a lot of success.
For example, during poker, a good memory is a very important skill.
If a player can remember the pattern of how his opponent plays and the cards that have been used, he or she may have a better chance of winning.
6. Master the ability of emotional self-control as a gambler
In many aspects of a person’s life, emotions can be a very good thing.
Controlling your reactions and facial expressions can be crucial in not revealing all your strengths in some casino games.
Because of this, many professional players claim that before you start playing professionally, you should leave your emotions out of the game.
But body language is probably one of the most important factors on reading people.
7. Ability to Manage Stress when gambling
Many people agree that stress is an emotion and controlling stress is the same as controlling emotions. However, stress has become such an important factor that controlling the stress level had to become a special ability that is also very important for professional players.
8. Is dedication an important characteristic as a gambler?
A person does not become successful a professional gambler overnight even most people seem to believe it. It takes a lot of commitment and renunciation to achieve this success.
Because of this, people who feel a great commitment to gambling have a much greater chance of achieving something great than the people who play certain casino games sometimes when they feel like it.
9. Improve concentration as a gambler
Concentration or focusing on the task in front of you is something that is very important not only for games but also for other aspects of our lives.
In games, it is a must to keep the focus on what is happening in front of you and it is rare that any player has the privilege of being able to think of anything other than the game in front of him or her.
Letting your mind wander while playing can lead to disaster.
In that case, it is almost guaranteed that you will lose your bets.
Being focused on the game provides a personal perspective of what is going on and insight into what may be his or her next move.
10. Ability to Solve Problems as a gambler
The last ability I will mention is the one that makes it possible to solve problems.
Being quick to solve problems can be very important in a situation where you need to make a decision within an instant.
In some casino games, there is no time for a player to think about his or her next move and being able to solve problems quickly can be crucial.
There are many more abilities required for a player to become a successful professional player but the ones I have mentioned are the most important according to many professional players.
- Controlling emotions and body language is one of the most important skills for professional players
- A great commitment and perseverance can lead a player to success
- Becoming a professional player requires a lot of abilities that only a few people possess
- Being able to distinguish between important and less important things or pieces of information can make a difference when you play certain casino games
You have to be aware of gambling addiction
One of the biggest problems that many professional players face is the problem of gambling addiction.
Before a person decides to start playing professionally, he or she needs to be aware that gambling can sometimes cause a gambling addiction, which has been a major problem for many people for a long time.
There are different types of gambling addiction and no matter how severe gambling addiction seemed, it is a big problem and it can lead to big and serious problems.
One of the biggest signs that a person has been addicted to gambling is when he or she is playing with the money they cannot afford to lose or playing with money that they actually do not have.
Gambling addiction is often linked to other problems such as anxiety, depression and more. Therefore, it is crucial for a player to recognize these characters and face the problem in time.
In addition to spending the money you do not have, a very good sign of gambling addiction is when gambling is no longer entertainment but a necessity.
Is it easy to become a professional gambler?
As I have already indicated, it is no easy task to become a professional player. There are many difficulties and obstacles that a player must face along the way and gambling addiction is just one of them.
Commitment and perseverance to solve these problems for players to success but even then there are things that you simply can not influence such as luck which is very important for someone.
Things to keep in mind when trying to make money as a professional gambler
- Gambling addiction has been one of the biggest problems facing professional gamblers
- There are various signs that may indicate possible gambling addiction and early understanding of these signs can solve the problem very quickly
- Support from family and friends who avoid temptations can work wonders with gambling addiction
- There are things that players, whether professionals or amateurs, simply cannot influence