- OddsMaker has extremely high limits for both deposits and withdrawals, as players are expected to commit at least $500 and cash out no less than $200. This is a lot of money by any standards and many beginners will be intimidated by the prospect of taking such financial chances. Neteller, money transfer, wucash transfer, bank wire and priority.
- Mad Bets: Vegas oddsmaker recalls taking $2.1 million in bets February 1, 2021, 4:31 p.m. Veteran oddsmaker Dave Sharapan tells a story on the time he took over $2 million in bets before the Steelers-Packers game in 2011.
- Job Title: Construction Analyst/Data Entry Salary: $45,000 - $55,000.
How To Become a Professional Sports Bettor
by Dave Busk - 05/06/2009
Oddsmaker David Aragona made Tacitus the 9-5 morning-line favorite for the Belmont Stakes Presented by NYRA Bets (G1), with Preakness Stakes (G1) winner War of Will just behind him at 2-1.
Many articles have been written over the years about being a professional gambler. In this article, however, I will touch on some of my views on what it takes to make a living betting on sports.
How could I give you advice if you don't know a little about me? I'm 33 years young but in terms of a gambling age I feel like 60. Gamblers are like dogs in that they age several years during a calendar year once they start applying their trade. My road in gambling started long ago as I am the son of a former bookmaker and a very successful blackjack player that still to this day is banned from many casinos because of his winning ways. I choose not to bet in casinos and after a short stint going to the track around 18 and 19 years old I quit betting horse for two reasons: 1.) at 18 you think you know everything but in reality you know nothing and 2.) I noticed nobody had nice shoes at the track, so that was it for me.
At 21 I was in the Caribbean working in a sports book and this is where I started the learning curve that for me took about six year's to start to really understand what I was doing. I have read numerous articles and books and heard many different opinions along the way -- some make sense some don't, but hopefully you can't take something from this article to help you get better.
Discipline
Discipline is one of the keys to being successful at this, and probably the main thing I tell people who ask how to become a professional sports bettor. Discipline can range anywhere from staying within in your limits, to not letting your emotions take over after a tough day. Winning at betting on sports is a 'mindset' and to be a successful gambler you need to be good in other areas besides just picking winners and discipline is key. You need to be able to handle winning just as much as you need to manage when you go on a losing streak. Remember, when you have a tough day no matter if you were way off or you lost a game that you should have won, let it go and don't chase your losses. This is easier said then done but you need to 'maximize your wins and minimize you losses'. Remember, our National Anthem plays multiple times every day in ballparks and arenas across the country - there's always' tomorrow.
Money Management
Oddsmaker Salary
Money management is another strong suit of a successful gambler -- some guys go with the logic that a play is a play meaning every bet is worth the same. For me this is a grind but I do think some games stand out more then others and the value just shines. I think there are certain situations where you need to step out and play a little more. However, staying inside the limits that your bankroll allows is crucial. I highly suggest that you separate you living money from your betting bankroll. If you have a good week or month take a higher percentage and add it too your bankroll and then pay yourself. Don't forget that in between watching, rooting and handicapping games that this is a business.
Vegas Oddsmaker Salary
Mentality
One mistake I made when I was younger was I never took a break, it was always go, go, go. And while taking a break doesn't need to mean a week or month, it could just mean doing something else for an hour or two. I put a tremendous amount of time into thinking about what millionaires or future millionaires are going to do while playing a kid's game and to be successful at this you need to put time into it, but there comes a point where doing too much will burn you out and that leads to bad decisions. No matter if things are going good or bad, take a step back and retool your thought process. Remember, there is a lot that you can't control. The things you can control are hard work, discipline, money management and getting the best of the number. Don't be afraid to make adjustments to how you handicap over the course of a season -- the season is long and many teams go through situations over the course of time that change a team's overall mental state. Every year is a new year and you have to keep re-educating yourself on the leagues -- don't ever kid yourself and think you know it all.
Market
Like any other business, sports betting is part of a market and one good asset that a gambler can posses is understanding the movement of the market. The line will move for many reasons - it could be sharp money, it could be the public or it could be an overreaction to a noted injury or weather situation. This is where I feel you need to know and understand how to make a solid number. If the number you wanted moves before you get down your wager there comes a point where your play loses value and you must stay disciplined and simply pass. Remember, that value is in the number, not just the team. Understand when it's time to bet early in the market and when it is better to bet late in the market. This comes with time and by watching the line movement and developing a good understanding of where a number should be you can make the market work for you.
Oddsmaker Salary
Understand the oddsmaker's weaknesses and while they have many edges he does have to hang a number on every game while we can pick and choose our investments. On a weekend in the fall we have multiple sports going on with baseball, college football, NFL and in October and November NBA and NHL. The oddsmaker is going to focus on the NFL with that being their biggest handle and with 70-plus college football games plus other sports going on Saturday they will be more likely to make some mistakes. The key their is knowing where the market is weak and how to handicap and capitalize on their mistakes. This is easier said then done.
Vegas Oddsmaker Salary
While people handicap and look at games with different styles, I would suggest you do what works for you. I don't handicap every sport the same -- the only aspect I have that is the same for each sport is that I make my own number and use as a guide against the line the oddsmaker hangs. I re-educate myself on these teams every day by reading newspapers across the country. I don't follow trends or have a system. The problem I have with a trend or a system is it takes the emotion out of sports and sports is all emotion. Understand that no matter how much you think you know about the players you still don't know if that pitcher or quarterback is having problems at home or in his daily life to take their focus away from their jobs. These are still people, not robots -- none of us are at our best every single day it is just the real talent that shows at a high percentage of the time. This is a market, always' get the best value for your dollar. There is a learning curve to this and it can be expensive. Some people get it and some never will. While everybody has their different views on how to handicap games, the best advice I could give you is to learn how to be a good oddsmaker and pair that with some of the things mentioned above and this will make you a good gambler. Betting on sports for a living could become like walking through a minefield if you don't have a clue, it takes so much to win and so little to lose. However, if you work hard and show some discipline with some good money management and if you can keep your emotions in check, you will make it through the minefield and pay the bills.
For more information on Busk's baseball picks and for daily free picks, check out his Insider's Page here.
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As safety Jamal Adams continues to publicly duel with the New York Jets, the Baltimore Ravens once again find themselves in the conversation. All the latest chatter has oddsmaker SportsLine considering Baltimore to be a favorite landing spot for Adams this offseason.
The Ravens had previously shown interest in Adams at the trade deadline last year. But with Adams now requesting a trade following continued frustration over his contract demands, he reportedly considers Baltimore to be one of his preferred trade destinations. Though there are plenty of reasons why a trade to the Ravens makes little sense, that isn’t stopping SportsLine from giving Baltimore the second-best odds to land him before Week 1 of the 2020 NFL season.
As we’ve pointed out before when looking at the potential of the Ravens trading for Adams, it doesn’t make much sense from Baltimore’s perspective. The Ravens already have their two starting safeties on the roster right now. Even if they were looking to upgrade, neither Earl Thomas nor Chuck Clark could be cut or traded without Baltimore eating some serious money against their 2020 salary cap, which they don’t have much of already. That’s before even considering what it would take to get New York to trade one of their best players in the first place or Adams’ desire for a lucrative long-term contract extension.
While this public feud has caught everyone’s attention and has people thinking of the possibilities, a trade seems pretty unlikely regardless of the destination. Even Ryan Wooden of SportsLine admits the Jets are the favorites to retain Adams despite his trade request.
While at least one oddsmaker believes in the Ravens trading for Adams, and it would certainly be an interesting cap to their offseason, this seems like an unwise bet to take.