Think about the odds available, and the likely outcome of any game or race. By betting on a random teams or horse to win, you will probably have a 45/55 chance of making money. For instance, if the actual chances of winning are evens, the payout will be 1.90, or 9/10. This is simply so that the betting agency makes a little bit, which is fair enough. So over the long term, if you just bet even stakes on random teams or horses you are destined to lose.
The encouraging aspect of this is that with the odds of success at 45/55 with no special knowledge, it does not take too much effort to move the odds a little more in your favour to make a profit.
How long until you can start making a decent income?
The beauty of sports betting is that it is so frequent. There are games happening all over the world at all times of the day, and you can take your pick. You can make your selections before or after work, so you do not have to give up your job until you are ready to.
How much do you bet?
As you are building up your bank, it is a good idea to bet a percentage of your pot, rather than sticking to even stakes. For instance, if you start with a $500 pot, your bet should be $50. Therefore, your bets will increase in line with your pot. This compounding effect makes a dramatic cut in the time it takes to get your pot to $10,000.
Who do you bet with?
Be wary of links from educators to online web sites. Generally they will recommend sites that pay them a referral fee. Do a Google search for online sports betting agencies. Look for ones that offer bonuses, but check the terms to ensure you are easily able to withdraw cash.
What system do you use?
Remember you only need to move the odds slightly in your favour to be ahead of the mug punters. There are experts who have spent hundreds of hours perfecting betting systems. My advice is to simply invest in one of these.
Remember your goal is to make a living out of this. Can you imagine learning any other trade or business without first getting the education?