So you’ve become quite proficient at online casinos and placing clever wagers that have paid you handsomely. You’ve tenfold your betting bankroll and are beginning to believe in your ability to make wise wagers and come out on top more often than not. Could this be a fair method to earn a solid living and place yourself in a strong financial position?
Don’t give up your 9-to-5 work just yet. Betting on professional sports may be quite rewarding if you place good bets and get fortunate, but making it a career is very dangerous and might backfire. Don’t stake your financial security on the possibility of winning professional sports betting on a regular basis.
Make Sure to Always Bet
To transform sports betting into a full-time job that pays well enough to live on, a person would have to place bets on a daily basis, limit losses, and win exceedingly hazardous bets on a regular basis. This means you’ll need to be really skilled at betting on a variety of sports, not just one.
Your sports expertise would have to be out of this world, and the amount of time, research, and studying it would take to make well-informed wagers would almost certainly surpass the return on investment.
This would also include betting on sports all year in the hopes of generating enough money to support yourself. Jumping from sport to sport in the hopes of getting enough money would be incredibly stressful, and it would almost certainly not provide enough money to live comfortably.
How Much Do You Need to Win?
That’s a complicated question with many variables, but let’s look at an example to give you an idea.
Let’s start with the equivalent of working eight hours a day, 40 hours a week, for 52 weeks in a year at $15 per hour. All of the figures below are gross earnings before taxes.
$120 for an 8-hour day
$600 for a 40-hour week
$31,200 in 52 weeks
That implies a bettor would have to earn at least $120 a day, five days a week, for the whole year to equal $15-per-hour employment. However, it is the bare minimum before taxes, and sadly, gaming gains are not tax-free. Any wins exceeding $600 are subject to federal taxation, which means you’ll still have to pay your fair amount to Uncle Sam.
And who wants to earn $31,200 in today’s world? In the United States, it is exactly on the poverty level, therefore the standard of life would not be the most opulent. Still, believe you could earn a livelihood betting on sports?
When it comes to betting on professional sports, the long-term chances of winning are now about 55 percent. That’s perilously close to merely breaking even or marginally improving. Let’s pretend you’ve placed ten $100 bets. Even if you won six of those wagers, you would still lose $400, with potential gains of just a few hundred dollars, depending on the odds.
To make something long-term lucrative, you’d have to be really good or extremely fortunate. Most people are neither in the long run as the bookmakers always find a way to win and your luck will always run out.
What Are Your Alternatives?
You may certainly take a chance, but be prepared to lose money. When considering betting as a job, the age-old subject of how to earn a modest fortune in life comes to mind. Starting with great wealth is the best method to earn a modest fortune in sports betting.
Some could be brilliant at it and make it work, but is the danger to you and your way of life worth it to potentially lose all of your money? Most would think that it isn’t so many would not even attempt to be a professional sports bettor.
In this circumstance, your best choice is to maintain sports betting as a healthy pastime or as a form of solitary side business rather than trying to generate money from it. Keep your day work and utilize sports betting as a kind of enjoyment, with the potential to earn some money on the side.
