Every bettor has always dreamt of becoming a millionaire through sports betting. Well, the vision of feasting on comps, making a six-figure, traveling the world and dressing like James Bond. These are some of the dreams of many gamblers. Is professional gambling this lucrative?
The big question is; can you make money through sports betting and actually earn a good living out of it?
Before further ado, let’s learn who a professional bettor is.
Who Is a Professional Gambler?
The term ‘professional gambler’ will refer to both full-time and part-time gamblers – people who earn money through betting. It only makes sense since both part-time and long-term gamblers have the skills and the capacity to make profits in the long run.
A professional gambler will refer to any bettor who will make any kind of profit from betting throughout a year. That is the primary explanation of a pro gambler.
A true professional will only make money from gambling, and it will be enough to cater for all their expenses such as utilities, house rent, insurance, car payment, meals, clothes and anything that might be necessary.
A semi-pro is any bettor who will make just enough money to supplement the income that they already have. This kind of a bettor, however, doesn’t earn their full-time living from betting.
What Do Professional Bettors Earn from Sports Betting?
Sports betting is one of the areas you can venture in and still make a reasonable income. The best part about sports betting is that you do not require a massive win rate in order to make some profits. You can read online reviews on centsports.com to get more beneficial information on how much money you can make in sports betting.
Bookmakers will take 10-percent juice from the side that is losing. This usually is not the case, especially in poker and DFS where you have to pay some more 10% fee irrespective of whether you lose or win.
The juice is customarily adjusted or lowered depending on the side that the bookmaker is pushing the action. However, generally speaking, sportsbooks will take 10% from the side that is losing.
The bottom line is that you need to win 52.38% of all your bets to be able to break even. How do we arrive at that? A bookmaker requires you to stake $11 in order to win $10. In this case, the juice is at 10%. This means that you have to win 11 bets in every 21 to be able to break even. 11/21*100% gives you 52.38%.
If you are to become a professional gambler, then you have to ensure that you are winning anywhere between 53.5% and 55.0%.