Is it possible to get a steady stream of income from sports betting?

[jones24]

I just hope some of you here have inspirational stories to post here.

Sports betting is one of the few betting places where you have a chance to win big.

I'm also hearing stories of very rich ppl going into casinos betting on games like rolette and games like that that basically they are just throwing money away cos they have too much of it.

Pls if you have an inspirtational story share it.

[warriorfan707]

Of course its possible.

1) Need a bankroll

2) Cant chase when you place a bonehead bet.

3) Need to be a good capper or at least know who to follow. Being good with numbers, knowing when/ when not to hedge, or at least knowing who to follow is also huge.

[iQon]

It's possible, but not necessarily realistic for most people.

[Hareeba!]

Depends on what you mean by "steady stream" of income.

The game is full of ups and downs. Nothing like a regular salary.

Regular annual profits are possible but you can't expect them to be consistent.

Not realistic to expect regular weekly, monthly or quarterly profits.

[jones24]

to Hareeba! yes i don't expect to just depend on sports betting to survive alone. That's not really smart. I would say holding down a regular job using sports betting to perhaps gain an additional 20-30% of my annual income. Still a pretty tall feat to accomplish i think.

Does anyone here know how to get a mentor to kind of show me the ropes. If i do it myself i'm going to be stumbling in the dark probably end up with tons of losses before i manage anything successful.

[QQPALLADIUM]

better off in the stock market...only hareeba makes money here gambling...

[LordVodka]

There's gotta be people who make money consistently here. Go to the payout thread and you see users make withdrawals of 5k various times in a month.

[QQPALLADIUM]

and how much do they deposit each month...what a joke...

[pattymayo]

To answer the question in the title, i don't think its possible to have a "steady stream of income" from sports betting. I don't see how someone can say, okay, i need to make $1000 a week for the next 2 months betting. You can't win them all, everyone will go on hot and cold streaks. not sure how you can consistently profit over the long term.

I do think its possible to supplement your income with sports betting, but I also think most people (many on this site) gamble simply for the rush/high they get. They don't have what it takes, they chase losses, double bets to cover losses, chase on a late night bail out game, bet games they have no clue about just for action. They know they shouldn't do it, and I'm sure every time they reload say "this time will be different" they plan to bet only 1 game per day, so they bet the early 7pm game, lose, then chase on the late 10pm game even though they said they wouldn't. Most people simply don't have the discipline to achieve this, they just want the gambling high and a reason to watch a college bball game that they otherwise would never watch and couldn't name 1 player on either team

i think for many they don't even gamble for the money, in the back of their minds they kind of accept the fact that they probably will never cash out (esp if their money is an an offshore book) they're just action junkies.

[Nikfrio]

It's not impossible but very hard and requires a lot of discipline and well, luck. Sports nowadays are full of upsets and unpredictable scorelines each match day. People claim that books and teams make deals(all that conspiracy stuff) but in reality it's because nowadays everyone can play and everyone can get results. Level of competitiveness in sports is increasing every year in my opinion.

[pattymayo]

Also, so many people on this site are making plays every single day, and lots of plays every single day. I will never understand how anyone can be a long-term winner and make plays daily. The juice alone will kill you.

I think the only way is picking your spots, betting 1-2x a week, but betting big.

[PAULYPOKER]

Very possible, however if you are consistently bringing in a cashflow you will not be excited about it....................

[Hareeba!]

Also, so many people on this site are making plays every single day, and lots of plays every single day. I will never understand how anyone can be a long-term winner and make plays daily. The juice alone will kill you.

I think the only way is picking your spots, betting 1-2x a week, but betting big.

Incorrect.

There are many different ways to win at the game. Whilst many are selective as you suggest, others play very differently, relying on slim margins on high turnover.

[goblue12]

You could arb / bonus whore.

But you would need an account at either Pinnacle / Matchbook / BetFair and a small arsenal going into it.

After a while you will find a trend: deposits into pinnacle & friends, withdrawals at the others

[RonPaul2008]

Depends on what you mean by "steady stream" of income.

The game is full of ups and downs. Nothing like a regular salary.

Regular annual profits are possible but you can't expect them to be consistent.

Not realistic to expect regular weekly, monthly or quarterly profits.

It is certainly possible to win almost every month.

[QQPALLADIUM]

Incorrect.

There are many different ways to win at the game. Whilst many are selective as you suggest, others play very differently, relying on slim margins on high turnover.

slim margins, high turnover, watching screens all day, no life outside...ev+ lifestyle...

dumpster dive, local casinos with free steak dinner, grind out min wage....live in a van down by the river...

[PAULYPOKER]

slim margins, high turnover, watching screens all day, no life outside...ev+ lifestyle... dumpster dive, local casinos with free steak dinner, grind out min wage....live in a van down by the river...

[Hareeba!]

It is certainly possible to win almost every month.

Almost, maybe. Depends on betting style.

Arbers of course would, and traders too, but I was referring to traditional betting where I think it would be rather unusual.

[baskets]

I've seen a poster on here who says + 15k to + 20k profit a month. Usually posts in industry/tank.

[Ernie Mccracken]

For you? Impossible to win over the long term. Save yourself the headache.

[rm18]

if you do props and live betting only can win every month but if you want to make big money you need to bet sides and there will be large up and down swings

[19th Hole]

It is possible if you book
and have clients who cover their losses.

[Chimneyfish]

Also, so many people on this site are making plays every single day, and lots of plays every single day. I will never understand how anyone can be a long-term winner and make plays daily. The juice alone will kill you.

I think the only way is picking your spots, betting 1-2x a week, but betting big.

I think the solution is somewhere in between. I agree that betting as frequently as you mention likely means that the person isn't being as selective as he should be and is therefore probably losing a lot of wagers. On the other hand, I think that betting less frequently for a larger percentage of bankroll doesn't leave enough room for weathering the inevitable losing streaks. Even a 60% capper goes through stretches that could wipe him out entirely if he's wagering too large a portion of his bankroll on each bet.

[DOMINATER]

its not how many games you win its how you manage your bankroll. Here is the hard part you must know if it s a game you bet 10 dollars on or 10,000 dollars on think if you win the big games the little ones mean nothing .

[DOMINATER]

I also bet a progression bet meaning 2.4.8.16.32,64,128,256 etc I often win 7 or 8 games when I am hot add two zeros to those numbers can you see hw you can kill your book. and with that you do the same and pull it down after two or three winners nothing but money like I said money mangement is the key.

[Hareeba!]

I also bet a progression bet meaning 2.4.8.16.32,64,128,256 etc I often win 7 or 8 games when I am hot add two zeros to those numbers can you see hw you can kill your book. and with that you do the same and pull it down after two or three winners nothing but money like I said money mangement is the key.

Certainly not advice one should be giving to a novice.

[jerry]

I also bet a progression bet meaning 2.4.8.16.32,64,128,256 etc I often win 7 or 8 games when I am hot add two zeros to those numbers can you see hw you can kill your book. and with that you do the same and pull it down after two or three winners nothing but money like I said money mangement is the key.

Keep doubling your bet until you lose?

[FourLengthsClear]

Keep doubling your bet until you lose?

Reverse martingale.
LOL.

[jones24]

I also bet a progression bet meaning 2.4.8.16.32,64,128,256 etc I often win 7 or 8 games when I am hot add two zeros to those numbers can you see hw you can kill your book. and with that you do the same and pull it down after two or three winners nothing but money like I said money mangement is the key.

hi what do you mean by progression bet?

[jones24]

Reverse martingale.
LOL.

what does this mean?

[tony_come]

The answer is yes

if you know the right ppl

[The Hot Pepper]

Something funny I suppose.

[Ace_of_Spades]

This question is asked far too often.

[Hareeba!]

what does this mean?

as suggested earlier, you need to do a good deal of research into the game before getting involved judged by the questions you are asking

Martingale is one thing you really should read about .... the surest way to end up flat broke

[Leo Bello]

I also bet a progression bet meaning 2.4.8.16.32,64,128,256 etc I often win 7 or 8 games when I am hot add two zeros to those numbers can you see hw you can kill your book. and with that you do the same and pull it down after two or three winners nothing but money like I said money mangement is the key.

This is the old Martingale system. It is doomed to failure. You eventually will be stopped because you assume you can continue to double your bet forever. Betting 2, 4, 8, 16, 32, 64, 128, 256, 512, 1024, 2048, 4096, 8192, you find that you are risking all this money to win your starting wager of two dollars! What happens when you're up to four thousand ninety-six dollars and your bookie says, "Wow, I ain't taking four thousand on this game. Are you nuts?" What do you do now, friend? You don't think you can lose that many games in a row? It won't happen often, I grant you that; but when it does (and it will) you won't forget it. But I think you know all this. Some poor newb may not, however.