ucking: 
Most of my income is and has been from betting on sports, only I don't and wouldn't want to do this long term. I am a casual longshoremen and work is VERY slow for me seasonally..... in a year or two when I am full time on the docks....I won't have to sweat games for "income" just for extra cash.
I do manage to make make money every month by minimizing my risk, something that I learned by losing money being greedy....
Setting goals is the key to making money,, money management should be a given... only greed can screw that up..... I know.
I do manage to make make money every month by minimizing my risk, something that I learned by losing money being greedy....
Setting goals is the key to making money,, money management should be a given... only greed can screw that up..... I know.
I Would In A Second.
If I Had The REsourcesTo Pay My Normal Bills
WithoutGoing Into My Stake For 6 Months
ThisWould Give Me The Time To Go Through Highs And Lows.
I Have Been Trying For Years To Do This But Can Not Accumulate The
Bill Money To Provide Me With The Proper Comfort Zone.
Hopefully One Day I Will Have The Chance To Take My Shot.
If I Had The REsourcesTo Pay My Normal Bills
WithoutGoing Into My Stake For 6 Months
ThisWould Give Me The Time To Go Through Highs And Lows.
I Have Been Trying For Years To Do This But Can Not Accumulate The
Bill Money To Provide Me With The Proper Comfort Zone.
Hopefully One Day I Will Have The Chance To Take My Shot.
I was serious...what is the dark side? Other than losing your money. I have a couple of friends that quit their jobs to day trade....one lost his butt and is working again. The other is doing fine.
Is there more of a downside than losing your money? A person's lifestyle wouldn't have to change, just his job. Right? Maybe no one can make a living betting sports....I understand that; But it seemed you meant more than that....
Is there more of a downside than losing your money? A person's lifestyle wouldn't have to change, just his job. Right? Maybe no one can make a living betting sports....I understand that; But it seemed you meant more than that....
A few years ago, I was going for my MBA. I was going to school at night, and working during the day, making about $40K per year. I was in a very boring class, and decided to put together on paper, a "business plan" for what it would take to go professional at gambling. In order to safely pay the bills, as well as keep enough in your bankroll, to maintain a $40,000 a year salary, you would need a bankroll of about $100,000, assuming you make a 3% return on money wagered, and that my average wager was about 2 or 3 dimes per game.
Step back and think about the swings....lets take last night....my bets were:
CFB - Toledo - Winner
NBA - Pass
NHL - NJ - Loss on PL
CBB - UNC Greensboro - Loss
USC - Winner
Soccer - Livorno - Loss
Real Soceidad - Loss
Assuming that I would have been a flat 2 dime bettor, last night's loss would have been $5,600. Could I possibly lose nearly $6,000 in one night without wanting to jump off a bridge? Maybe after a while, but definitely not at first, which would probably cause me to press, and when you press, you usually end up in a load of trouble.
Many would say that this strategy may be too aggressive, and that the "business plan is flawed" and that risking nearly 15% of your bankroll in one night is crazy, which it is. However, without this risk, you would either need more bankroll (just how many of us have $300,000 to go and risk on this venture...or you could take out a business loan...LOL) or risk less per game, which could create a situation where you just couldn't get enough to come up with the rent money one month or you ate $.99 shrimp specials at the Flamingo every night for 3 months, until you could generate enough cash to eat normally again.
My point is, many may think they have what it takes to be successful, but after crunching the numbers, I think you would find out that it takes a lot more than being able to pick winners. And, think about your lifestyle....we are used to having steady paychecks - when we get a bonus at work now, we might splurge a bit and spend a bit, because you know that your normal paycheck will cover your regular expenses. You would not have this luxury as a gambler - the discipline you would need to do this for a living, gambling and otherwise, is probably way more than 99.9% of us have.
I also had a plan of working "the night shift" in this job. Waking up about 7 PM when the early games started, watching as many as you could, doing your homework on the following day games after the late games were over, and getting down when the early line comes out in the late AM. Throw in a 7 or 8 AM run or weightlifting session, and some normal everyday stuff, and off to bed at about 10 AM, to wake up again at 6 or 7 PM.....sounds great huh? Who the hell would want to live like this??
It's funny, at the time when I was pondering all of this, I was having the best gambling year of my life, and thought that I could really do this....this was about 3 years ago. Ironically, my last 3 years have been drastically worse wagering-wise, and if I had chosen that path, I would be in a world of hurt today.
To anyone that is thinking about this, be very careful....do not lose sight of reality.
HW
Step back and think about the swings....lets take last night....my bets were:
CFB - Toledo - Winner
NBA - Pass
NHL - NJ - Loss on PL
CBB - UNC Greensboro - Loss
USC - Winner
Soccer - Livorno - Loss
Real Soceidad - Loss
Assuming that I would have been a flat 2 dime bettor, last night's loss would have been $5,600. Could I possibly lose nearly $6,000 in one night without wanting to jump off a bridge? Maybe after a while, but definitely not at first, which would probably cause me to press, and when you press, you usually end up in a load of trouble.
Many would say that this strategy may be too aggressive, and that the "business plan is flawed" and that risking nearly 15% of your bankroll in one night is crazy, which it is. However, without this risk, you would either need more bankroll (just how many of us have $300,000 to go and risk on this venture...or you could take out a business loan...LOL) or risk less per game, which could create a situation where you just couldn't get enough to come up with the rent money one month or you ate $.99 shrimp specials at the Flamingo every night for 3 months, until you could generate enough cash to eat normally again.
My point is, many may think they have what it takes to be successful, but after crunching the numbers, I think you would find out that it takes a lot more than being able to pick winners. And, think about your lifestyle....we are used to having steady paychecks - when we get a bonus at work now, we might splurge a bit and spend a bit, because you know that your normal paycheck will cover your regular expenses. You would not have this luxury as a gambler - the discipline you would need to do this for a living, gambling and otherwise, is probably way more than 99.9% of us have.
I also had a plan of working "the night shift" in this job. Waking up about 7 PM when the early games started, watching as many as you could, doing your homework on the following day games after the late games were over, and getting down when the early line comes out in the late AM. Throw in a 7 or 8 AM run or weightlifting session, and some normal everyday stuff, and off to bed at about 10 AM, to wake up again at 6 or 7 PM.....sounds great huh? Who the hell would want to live like this??
It's funny, at the time when I was pondering all of this, I was having the best gambling year of my life, and thought that I could really do this....this was about 3 years ago. Ironically, my last 3 years have been drastically worse wagering-wise, and if I had chosen that path, I would be in a world of hurt today.
To anyone that is thinking about this, be very careful....do not lose sight of reality.
HW
Look at it this way :
Lets say you are 35 years old. You assume you have 50 more years to live .
It costs you $ 40,000 a year to live with all expenses included..
So , you would need to make $ 1,400,000 over that period of time gambling to live..
Do you think you can do it ?
Granted , your expenses may go down a little but I didnt account for inflation..
Lets say you are 35 years old. You assume you have 50 more years to live .
It costs you $ 40,000 a year to live with all expenses included..
So , you would need to make $ 1,400,000 over that period of time gambling to live..
Do you think you can do it ?
Granted , your expenses may go down a little but I didnt account for inflation..
