My rules for turning 'pro gambler', you need 100 Grand and never bet more than 1%-2%

Journeyman · Feb 11, 2006

Bankroll $100,000 , it comes down to betting a dime a game minimum

Discipline , never bet more than 2% and probably never bet more than 1%.

Of course have multiple outs and never bet into a bad number.

There's a ton of great information on these forums, you don't have to be great at handicapping any sport in particular, just know where to find the info.

This combination, and having the ultimate discipline :103631605

map out a plan and stick to the plan, the entire year.

:grandmais

Insiders · Feb 11, 2006

Good Luck on that GRIND.

CHOPTALK · Feb 11, 2006

If you are talking about being a pro present tense. $100,000 is not near enough unless you plan on being totally stressed out and live off of only $25 to $30k take home per year before taxes.

If you are talking about need $100K to begin the process of becoming a pro, you can do that with as little as 5K if you use extreme disapline and have very long range goals. Meaning 10 years or longer.

To be presently a pro without extreme stress and making a decent living 100K take plus per year you would need 1Million or more.

Thats why you can almost count the profesionals on 1 hand.

Journeyman · Feb 11, 2006

Let's just say you bet 1000 bets per year at $1,000 a game. You win 54%

Win $540,000
Lose -$460,000 (avg loss on juice at 7% $32,000) = 492,000

Profit of $48,000 , and that isn't including any bonuses.

Insiders · Feb 11, 2006

Its ALL about Information, Infomration, Information. As i find it rather difficult to believe that Any pro, even starting out could limit themselves to a 1k bet EVERY bet. Besides ONE good season of baseball dogs could double the BR easy. But not at 1k per bet, no way!

Journeyman · Feb 11, 2006

CHOPTALK said:
If you are talking about being a pro present tense. $100,000 is not near enough unless you plan on being totally stressed out and live off of only $25 to $30k take home per year before taxes.

If you are talking about need $100K to begin the process of becoming a pro, you can do that with as little as 5K if you use extreme disapline and have very long range goals. Meaning 10 years or longer.

To be presently a pro without extreme stress and making a decent living 100K take plus per year you would need 1Million or more.

Thats why you can almost count the profesionals on 1 hand.

Chop, I would NEVER do that as my only source of income, but I do feel that if you have 100K and use the information these forums provide (veteran forum readers) you should be able to stay afloat and enjoy betting, not stressing losing streaks by betting just 1%, it would be a very nice supplemental income.

:toast:

Journeyman · Feb 11, 2006

Insiders said:
Its ALL about Information, Infomration, Information. As i find it rather difficult to believe that Any pro, even starting out could limit themselves to a 1k bet EVERY bet. Besides ONE good season of baseball dogs could double the BR easy. But not at 1k per bet, no way!

Why is it so hard to only bet a dime a game if you have 100 grand to play with and a regular income as well?

I believe in flat betting. :103631605

CHOPTALK · Feb 11, 2006

Journeyman said:
Let's just say you bet 1000 bets per year at $1,000 a game. You win 54%

Win $540,000
Lose -$460,000 (avg loss on juice at 7% $32,000) = 492,000

Profit of $48,000 , and that isn't including any bonuses.

Thats one stressfull way to make a living if you ask me. Its not worth it to become a pro unless you are making 6 figures a year and you are able to withstand a year here and there where you dont hit 54%. Maybe 1 million was a little on the high side but 100K is way on the low side. $48k with that example is before taxes and without growing your bankroll for the next year.

I would rather keep doing what im doing for a living and using this sports betting money as a secondary income.

CHOPTALK · Feb 11, 2006

Journeyman said:
Chop, I would NEVER do that as my only source of income, but I do feel that if you have 100K and use the information these forums provide (veteran forum readers) you should be able to stay afloat and enjoy betting, not stressing losing streaks by betting just 1%, it would be a very nice supplemental income.

:toast:

If you are talking about a secondary income than your above example is a great one. There are many people on this forum that do what you are talking about for a second imcome. Me included except my bankroll has not gotten to that point of 100K yet. Hopefully one day though. But to be 100% fulltime with no other sorce of income, 100K is no where near enough.

For me to quit my present job, I would have to have 1 million in my bankroll.

Journeyman · Feb 11, 2006

When I say 'pro' I don't mean the only source, I wouldn't ever personally try and live off gambling, even if I had 1 million dollars.

My point is this, 1 % on every game and you should never really stress gambling, get the information, do your homework.

Discipline, 1% and significant bankroll

Journeyman · Feb 11, 2006

CHOPTALK said:
For me to quit my present job, I would have to have 1 million in my bankroll.

:lolBIG:

okay , were on the same page, however if I had a million I would be on a beach somewhere probably in Hawaii or Florida :toast:

CHOPTALK · Feb 11, 2006

Journeyman said:
When I say 'pro' I don't mean the only source, I wouldn't ever personally try and live off gambling, even if I had 1 million dollars.

My point is this, 1 % on every game and you should never really stress gambling, get the information, do your homework.

Discipline, 1% and significant bankroll

My mistake, I thought you meant 100% full-time. We just had different defenitions of being a pro.

For me to be a pro it would be $1,000,000 bankroll betting 5K per game flat betting. Thats just .50% per play and you can make 200K+ per year without any stress.

lander · Feb 11, 2006

I'd imagine it would get harder and harder each year. Think of the external factors involved

1. Getting cut out or kicked out of books for being successful
2. Could get stiffed if a book goes down
3. Consolidation (if theory is true) of books over long haul will reduce outs.

GREENHEAD · Feb 11, 2006

lander said:
I'd imagine it would get harder and harder each year. Think of the external factors involved

1. Getting cut out or kicked out of books for being successful
2. Could get stiffed if a book goes down
3. Consolidation (if theory is true) of books over long haul will reduce outs.

Good post Lander but there are ways around #'s 1 and 3.

Omni · Feb 11, 2006

You could make a living with a lot less, you just have to work hard to find every single "opportunity" that's out there to make money.

Brock Landers · Feb 11, 2006

J-man, I've made 22 dimes this week, including the Super Bowl game..in my situation, I would be surpassing your prediction of a yearly income in a few weeks, i know some bumps are bound to happen, but in your estimation you have to factor in losses, i guess i don't think that way, i make every wager with the intention of winning.

Journeyman · Feb 11, 2006

Brock Landers said:
J-man, I've made 22 dimes this week, including the Super Bowl game..in my situation, I would be surpassing your prediction of a yearly income in a few weeks, i know some bumps are bound to happen, but in your estimation you have to factor in losses, i guess i don't think that way, i make every wager with the intention of winning.

yes but you bet a lot of ML favorites, you're a bit extreme for my taste Brock buddy...I am more conservative.

If you were a commodity you would be Cocoa! Extreme highs and lows :103631605

Journeyman · Feb 11, 2006

GREENHEAD said:
Good post Lander but there are ways around #'s 1 and 3.

You gonna get kicked out of Olympic, Pinnacle, Grande or CRIS?

Spread it around :103631605

Journeyman · Feb 11, 2006

Ooops was replying to Lander not Greenhead

Fishhead · Feb 11, 2006

Chop-- We need to have a sitdown someday in the future.

Thats all that I wish to say in this particular setting.

FISH

My rules for turning 'pro gambler', you need 100 Grand and never bet more than 1%-2%

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There's always next year, like in 75, 90-93, 99 &

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