I have been thinking about this a lot lately and I think the #1 thing most people don't think about when trying to bet sports for a living is this......
You will probably be surprised as just about anything obviously could fit as an answer to this question but it's the #1 thing I say/ask to people who ask me about if they should or could do this.
Sure most everyone knows all the basics like shop for the best line, play small pct of your bankroll, etc.... The #1 thing I have learned that I think most people don't realize who want to do this for a living is.........
You must put a minimum of 2 million dollars of risk into play a year (and this doesn't really include middles and scalps, which changes this entirely). Basically what I am saying is one of the first questions I ask someone when they say they plan on doing this for a living is, how much money do you plan on betting for a yearm putting at risk? Most don't have a clue and it my opinion this is the first thing someone needs to sit down and figure out before attempting to do this and make enough money to pay the bills, etc... Say you win at a 2% level then getting 2 million of action into play is 40k profit, which is also much harder said then done. I actually think 3 million is probably closer to what it needs to be as living comfortably off of 40k isn't enough probably for most, IMO.
I just don't think most people know this or even think about it. I read people all the time say play your top 3 games and play them for a nickel a piece, well that is only $1,500 a day of action and thats less then 550k for an entire year. Now even if you were to win an incredble 4% rate, that is only 20k profit for a year. It works out you need to play around 6k a day or even more everyday on average.
So the first thing I think someone needs to do who is seriously contemplating doing this for a living is figure out how much money per year that they think they will bet (not including scalps and middles). If it works out to only be 500k in a year then you need to either step up the volume of plays or the bet sizes to successfully do this for a living. Now those two things aren't easy to do either for various reasons as more volume means finding more +ev plays without the win pct suffering and higher bet sizes mean your plays must still fall within a certain pct of your bankroll (and I think it should be 1% of your bankroll or under per play and no higher, IMO).
Was sitting around today and thinking about sharing a few things that I have learned from two years of doing this in LV. I feel I was pretty much and still am the "common man" when it came to moving out to Las Vegas to do this as I didn't (and still don't) have a big bankroll or some super computer system either. I just hoped to get by and survive the old fashion way, through just working hard at this everyday.
I don't want to come across as a know it all, as I am far from it but I do feel I have some thoughts and opinons that I have learned along the way that I could share for someone who may be looking to "make the big move" one day. Will try to put up a few more threads that pop up in my mind like this in the next few days if anyone is interested.
You will probably be surprised as just about anything obviously could fit as an answer to this question but it's the #1 thing I say/ask to people who ask me about if they should or could do this.
Sure most everyone knows all the basics like shop for the best line, play small pct of your bankroll, etc.... The #1 thing I have learned that I think most people don't realize who want to do this for a living is.........
You must put a minimum of 2 million dollars of risk into play a year (and this doesn't really include middles and scalps, which changes this entirely). Basically what I am saying is one of the first questions I ask someone when they say they plan on doing this for a living is, how much money do you plan on betting for a yearm putting at risk? Most don't have a clue and it my opinion this is the first thing someone needs to sit down and figure out before attempting to do this and make enough money to pay the bills, etc... Say you win at a 2% level then getting 2 million of action into play is 40k profit, which is also much harder said then done. I actually think 3 million is probably closer to what it needs to be as living comfortably off of 40k isn't enough probably for most, IMO.
I just don't think most people know this or even think about it. I read people all the time say play your top 3 games and play them for a nickel a piece, well that is only $1,500 a day of action and thats less then 550k for an entire year. Now even if you were to win an incredble 4% rate, that is only 20k profit for a year. It works out you need to play around 6k a day or even more everyday on average.
So the first thing I think someone needs to do who is seriously contemplating doing this for a living is figure out how much money per year that they think they will bet (not including scalps and middles). If it works out to only be 500k in a year then you need to either step up the volume of plays or the bet sizes to successfully do this for a living. Now those two things aren't easy to do either for various reasons as more volume means finding more +ev plays without the win pct suffering and higher bet sizes mean your plays must still fall within a certain pct of your bankroll (and I think it should be 1% of your bankroll or under per play and no higher, IMO).
Was sitting around today and thinking about sharing a few things that I have learned from two years of doing this in LV. I feel I was pretty much and still am the "common man" when it came to moving out to Las Vegas to do this as I didn't (and still don't) have a big bankroll or some super computer system either. I just hoped to get by and survive the old fashion way, through just working hard at this everyday.
I don't want to come across as a know it all, as I am far from it but I do feel I have some thoughts and opinons that I have learned along the way that I could share for someone who may be looking to "make the big move" one day. Will try to put up a few more threads that pop up in my mind like this in the next few days if anyone is interested.
