Can I Make a Living Betting Sports?

sports investing 11

 
Kevin here from the sports geek calm and in this video we're going to take a look at if it's possible to make a living betting on sports okay so is it possible to bet on sports for a living let's take a look at some numbers first let's assume that your goal is $50,000 a year in profits next each bet is going to be three percent of your total bankroll

and we'll refer to each bet as one unit and for this example each bet is just going to be a basic negative 1/10 odds okay so let's assume you can hit 55 percent of your picks which is what the professionals aim for each wager is at negative 110 odds and you were risking 1.1 units to win one unit and we're also going to assume that you make a thousand bets over the course

of the year which works out to just under three per day which is pretty reasonable at 55 percent and a thousand bets you would have five hundred and fifty winning wagers and four hundred and fifty losing wagers risking 1.1 units to win one unit you'd be plus five hundred fifty units on the winds and negative 495 units on your losses added together that equals plus fifty five units per year because we want fifty

thousand dollars in profits that means each unit one would have to be roughly nine hundred and ten dollars each unit is three percent of your bankroll so with nine hundred and ten dollar units you would need a starting bankroll of around thirty thousand dollars so a quick recap we're assuming that you can hit 55 percent of your picks you're also placing one thousand bets per year and lastly your starting bankroll is thirty thousand dollars

now betting three percent of your bankroll you could win fifty thousand dollars per year but wait because 55 percent is nearly impossible to hit over the long term only the best in the world can win at that rate alright we're going to assume that you are among the elite sports betters in the world and you could bet on sports for living let's take a look at some of the cons of betting on sports

for a living so some of the downsides include you're going to have to live in Las Vegas to be able to place your bets each day you're also going to have to pay taxes on your winnings come your end I'm not an accountant and this isn't legal advice but I know that you will have to pay some sort of taxes on your winnings if you're betting on sports professionally and probably the most important

bullet point on this slide you're going to have lots of swings lots of ups and downs and it's going to be very stressful and then lastly you need to be very strict with your bankroll you can't up your bets from 3% up to say 10% if you have you know the lock of the year or whatever you're also going to be going into the casinos you can't waste your bankroll on playing

a little bit of roulette blackjack or whatever it may be so my recommendations include keeping your day job and just betting on sports on the side very few people can bet on sports professionally and make a living off of it and the people that can do often don't like it because of the stress that comes along with it so what I recommend is keeping your nine-to-five job create a second income for yourself with

your sports betting if you're good enough and you'll be pulling in at an O an extra ten to twenty thousand dollars each year that you wouldn't have if you weren't betting on sports be careful though because you can always lose your money betting on sports just want to throw that in there too alright so whatever you choose good luck if you found this video helpful or enjoy any of my sports betting videos

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sports investing 11 Kevin here from the sports geek calm and in this video we're going to take a look at if it's possible to make a living betting on sports okay so is it possible to bet on sports for a living let's take a look at some numbers first let's assume that your goal is $50,000 a year in profits next each bet is going to be three percent of your total bankrolland we'll refer to each bet as one unit and for this example each bet is just going to be a basic negative 1/10 odds okay so let's assume you can hit 55 percent of your ...