It is pretty safe to say that when people think of the most difficult job in sports gambling rarely, if ever, comes up. While many think that gambling is an easy career, here are some numbers to put the difficulty of being a professional sports better into perspective: a gambler must win 52.4% of all even-money bets to avoid losing money and must win 55% to make a decent living. As if gambling on sports themselves weren’t hard enough, the fact that gamblers must also pay bookies and those who run the books part of their take means that there are even more struggles to make a living wage. Couple this with the inherit dangers of gambling addiction and the desperation people feel to make up previous losses, and you have a career with a high burnout rate and a high likelihood of finding yourself bankrupt.
According to the professionals who are still in the game making money, the best way to be a gambling success is to stick to only a few games a day and to make smaller bets so that you make a moderate profit (or only take a moderate loss). This might limit the amount of money you can make, but the steady grind is much preferable to losing it all on one game. That forces you to make bigger and riskier bets in an attempt to win back what you lost and that is how the vicious cycle that you can never escape begins.
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from Bryan Lockley and Sports http://ift.tt/1rYD9lH