It is the dream of many to turn professional doing something that they love, for me that was the combination of the love of sports with my mathematical and statistical abilities. I was fortunate enough to spot an entry into the world of sports gambling, kind of a loophole, and a coincidental series of events meant that this entry has become a full-time career.
I had been researching sport betting odds, particularly the arbitrage side, which led me down the path of value spotting. At this point I was working full time for a bank, but looking for an escape route which came when I decided to move overseas to teach English. It was a chance to put what I had learned in sports betting to the test and, while I was looking for a job as a teacher, I was betting. It quickly became obvious that I was going to be earning far more from the betting than I would be from teaching (wages where I was living were not high!), so that was it. I decided there and then that I would give it a go for as long as I could. 13 years later, here I am, still betting and still able to earn a good living! So enough about me – if you are interested in turning pro. here are some of the pros and cons:
You have no boss, you have no timetable and no office. Your laptop becomes the only equipment needed to make money and as such you can work anywhere, be it at home, on a mountain or on the beach.
- Job satisfaction
There is a great feeling when you realise that you are at the top of your game. In order to win money you need to be ahead of almost everybody else in what you have chosen, which means that you need to consistently beat the bookies, which is not easy.
It may sound arrogant, but it never gets boring hearing the interest from other people in what I do. I have had hours of conversations with hundreds of people on the subject of my profession, something which, of course, never happened when I was a tax adviser!
Unlike a traditional job, there is no monthly payslip. If you take time off there is no holiday pay, if you are ill, no sick pay. You need to work with the understanding that whatever edge you have may at some point disappear meaning that you will either need to find another, or slip back into normal life
It is likely that you will need a decent amount of money to start. No-one makes a fortune from gambling with a tiny bank roll, so you either start with quite a lot, or build it slowly whilst earning elsewhere. This is a high barrier to entering as a pro.
By far the most important. The truth is that the vast majority of people lose money from gambling. In order to earn a living you need to not only win, but win big and win big on a regular basis. Don’t think that just because you have had a lucky run that you are good, you need to test your theory with hundreds of bets…if the results aren’t positive then don’t kid yourself that you have just been unlucky.
Thanks for listening!