Home » Pregame Blogs » Greg Shaker » CAN YOU MAKE A LIVING BETTING SPORTS?

CAN YOU MAKE A LIVING BETTING SPORTS?

Pregame Blogs

A description has not yet been added to this group.
Options
  • RSS for comments
Tags

CAN YOU MAKE A LIVING BETTING SPORTS?

Mon, Mar 1 2010 2:23 PM
  • Comments 64

During my 20 Years of Running a Handicapping Service, I have talked to a lot of Bettors who have lost a lot of money and are searching for the answer to their problems. In almost every case, they did not have a plan of action, they were betting too many games, they were following too many handicappers, and they were using poor Money Management Practices. The fact is, in some cases, after they subscribed to me, and after I had a Nice Winning Month, they told me that they were going to have to quit for a while because they had lost that month overall and could not afford to continue. What? Nothing surprises me anymore and I know why these Bettors are never going to win substantial money, or any at all unless they change their Betting Behavior.

Money by TW Collins.

You Must Have a Betting Plan
Most Bettors haphazardly go from day to day without a plan for success and that is probably 80% of their downfall. They just don’t know what they are doing. They bet varying amounts of money per game, based on how they feel about that investment, and in many cases based on how much they have won, or lost, that week, or even that day. I wish I could count the emails that I recieve from people asking me to give them “ONE BIG GAME” because they HAVE TO WIN tonight, or they have won some money and want to “DOUBLE THEIR WINNINGS.” That does not work Folks. Those people are going to lose. They are going to go through life being miserable and in many cases, they are going to blame someone else for their problems. I can’t help most of these Bettors but I do try and in some cases I succeed. Betting sports is exactly the same as playing the Stock Market. You can’t Day Trade, you have to do the Longterm Investments, and the one’s that pay off everytime. You must also be willing to cut your losses and realize that everyday is not going to be a winning day
 
Following Hot Handicappers
How many times have I seen somebody in a forum say something like ”Hey I found a Guy that is Hot! He is 13-4 in his last 17!!” Big Freaking Deal. They then jump on this guy and he promply losses his ass over the next 20 to 30 plays. Everyone has Hot Streaks. Everyone has Cold streaks. That is the nature of this business. Seeking longterm winners is the key and in most cases, a minimum of 200 to 300 Plays tells you whether someone has the ability to continue to be a winner or not. Simply put, you have to do your homework. You have to search for those guys that can hit 54% or more for an extended period of time. There are not many that can, but there are some that do. Avoid Hot Streaks at all costs and you are well on your way to beating this game.
 
Managing Your Bankroll
I have already covered much of this in this segment and there are some really good Money Management Programs on this site. While there are many theories about how much to play per play, the general rule is 2% to 3% of your current Bankroll. However, as your Bankroll grows, you are allowed to bet more but you must set clear goals as to when you bet more. My Program gives you a step by step approach for doing this. You can find that Program by searching my other Blogs here. I have used my program for the last 9 years and I promise you that it works. If you can only afford to lose 5 Grand, you can’t be betting $500 per game. By playing 2% to 3%, $100 to $150, based on a $5000 Bankroll, you are going to weather the cold streaks, and you are going to prosper during the Hot Streaks. I always tell my more degenerative clients that if you have to have some money on other games that I don’t pick, play them for 1/2% of your Bankroll. That gives you some “Action” without doing much or any harm to your overall goal.
 
Reaping The Benefits of The Plan
My best suggestion is to find 2 to 3 Handicappers that have Longterm Winning Results. Ideally one’s that can each find 1 to 2 plays on a Daily Card. Play those games at 2% to 3% of current Bankroll. Follow sound Money Management Principles and have some fun playing much smaller amounts on games that you like. You will have much less stress knowing that you have a Winning Approach, you will make money, and in some cases, depending on the advice you are recieving, a lot of money. This is not an Advertisment about becoming a Greg Shaker Client There are plenty of solid handicappers out there, both paid and free. It is about getting your situation under control and becoming successful. I can safely say that I have helped 100’s of people find their way through the difficult process of converting how they invest, and if I can help you do the same, I am as close as your email. Can you make a Living Betting Sports? DAMN RIGHT YOU CAN.
, , , ,
Comments
  • Mon, Mar 1 2010 5:18 PM

    Greg,

    Your Article on Money Management was like a bible.  I prepared a calculator using excel and I can now see how the return of investments improves as your winning % improves from 53% towards 60%. Its incredible as to how much each 1% change in the wining % increases the ROI.

    Now heres a question for you... It was fairly easy to find out how much % you need to win in order to actually make money when you are always betting with the spread and get -110 odds (Assuming you are flat betting). Now how do I come up with the wining % when you are betting on sports that only offer money line? If you are betting the same amount but the odds vary each time, what percentage do I have to win to break even or make money? How do I calculate it?

  • Tue, Mar 2 2010 7:29 AM

    Slumdog, the Money Management Program only tells you when to increase your wagers based on Units Won. There is no way to determine what Winning Percentage is needed on anything other than -110 unless those moneylines are exact, IE...all being -120, all being -130. IE...all being +120...etc..

    The Money Management Program just simply gives you a guideline on how much to bet based on your current bankroll, and gives you 20% Intervals as to when to increase your wagers safely...

  • 2010 Atlanta Braves Season Preview – Predictions, MLB Baseball … | Atlanta Braves MLB Announcer
    Tue, Mar 2 2010 10:12 PM

    Pingback from  2010 Atlanta Braves Season Preview – Predictions, MLB Baseball … | Atlanta Braves MLB Announcer

  • Wed, Mar 3 2010 1:56 AM

    THX SHAKE !!!!!!!!!!!!

  • Wed, Mar 3 2010 6:15 AM

    thats for sure.  right on.

  • Tue, Sep 21 2010 11:43 AM

    Great stuff as always Mr. Shaker.

  • Tue, Sep 21 2010 12:59 PM

    thanks for the great info greg. I AM GOING TO BLAB ON HERE SO PLEASE JUST TRY AND STICK WITH ME. I HAVE BEEN GAMBLING FOR A LONG TIME. I AM 42 AND HAVE HAD GOOD DAYS AND BAD DAYS LIKE EVERYONE ELSE. YOU SAID IT PERFECTLY BECAUSE 1 OF MY PROBLEMS OVER THE YEARS HAS BEEN TO VARY MY BETS. AN EXTRA HERE ON SOMETHING I REALLY LIKE AND NOT SO MUCH ON ONES I DIDNT FEEL STRONG ABOUT. AND USUAL THE 1 I LIKED THE MOST LOST THE MOST. I CANT TELL U HOW MANY TIMES I WOULD GO 3-2 AND BE DOWN FOR THE DAY. SINCE JOINING PREGAME I HAVE CHANGED MY PHILOSOPHY AND IT IS STARTING TO SHOW. ITS ALL ABOUT DISCIPLINE. THE OTHER TOUGH PART I HAVE IS FOLLOWING TO MANY PRO CAPPERS. THAT IS STILL A PROBLEM I STRUGGLE WITH TODAY AS THE ONES ON THIS SITE SEEM TO BE GOOD, INTELLIGENT RESPECTED CAPPERS. TRYING TO NARROW IT DOWN IS STILL TOUGH FOR ME. LET ME ASK U THIS.IF I WANTED TO REALLY CONCENTRATE ON MAKING A LIVING AT THIS OR EVEN A STEADY STREAM OF EXTRA INCOME HOW MANY CAPPERS SHOULD I PAY FOR THEIR WORK. BECAUSE IT IS WORK. IS IT 2 OR 3? THAT IS MY MAIN ISSUE NOW. AND THEN IF I GO WITH 2 OR 3 AND ON A GAME THEY HAVE DIFF SIDES I WOULD GUESS TO STAY OFF THAT GAME. U R 1 OF THE GUYS I HAVE BEEN FOLLOWING FOR 3 WEEKS ALONG WITH DWAYNE BRYANT AND MARCO AND A COUPLE OF OTHERS. I KNOW U WON'T, OR CANT WHO ELSE WOULD U RECCOMMEND BESIDES YOURSELF. I VALUE YOUR INSIGHT AND OIPIONION ON THIS MATTER. THANKS AGAIN FOR ALL YOUR HARD WORK. HOPEFULLY IF ALL GOES GOOD I WILL B A CLIENT OF YOURS IN ABOUT A MONTH. BOL ALWAYS

  • Tue, Sep 21 2010 1:20 PM

    Go to the link below CM...As far as if one handicapper is on one side and 2 on the other...Don't bet the game at all if all 3 are what you consider to be good..

    The number of handicappers is not that important. It is all about a good investment and you might find 2 to 3 or even more. Just do your homework to find those RIGHT People..

    pregame.com/.../132012.aspx

  • Tue, Sep 21 2010 1:35 PM

    so let me understand you . start out betting 2-3% of your bankroll.after how long should you increase your bet and by how much?

  • Tue, Sep 21 2010 1:44 PM

    No way...Not betting $100 per game...If you're betting $2K and get up 50 Units there's a $100K, a living.  That doesn't include health insurance and 401K, so you better make it 60 Units...

  • Tue, Sep 21 2010 2:02 PM

    I-Worm, you increase your Bet Size at 20% Bankroll Interval Levels. So if your start with $5000, you would increase at $6000. The next increase would be at $7200

    Your overall risk remains the same but your bet size increases at 2% for $100, to $120, and then to $144 or I would round that down to $140..

  • Tue, Sep 21 2010 2:12 PM

    thanks greg a lot of help

  • Tue, Sep 21 2010 9:39 PM

    Caiptainmunch hit the nail on the head "Discipline" is the key. How many times you hear people say "I was up $XXXX.XX" and end up losing that and more. I learned money managemnt and discipline playing Blackjack. Had 2 days where I was up $800 and stayed a little longer ended up losing the $800 plus $400 of my own. The drive home I was sick at that moment I told myself never again will I do that, and thankfully I have never done it again

  • Wed, Sep 22 2010 7:27 AM

    Obviously any Stable Money Management Program is worthwhile Gambler616. This one simply allows one to bet with low Bankroll %'s and increase Wagers at safe intervals..

  • Wed, Sep 22 2010 4:30 PM

    Gambler616 said:

    "The drive home I was sick at that moment I told myself never again will I do that, and thankfully I have never done it again."

    The big question is always how do you know when the winning is over.  I used to either set a time a limit for the sitting, or I'd set a rule such as the first time I lose three hands in a row I'm gone.  Then it kept going 1win 2 losses until I was almost even.  Time limits don't guarantee you'll be up either.

    I've just resigned myself to the fact that it doesn't matter what you do at any sitting.  If you are in a negative situation, if you are up $800 and walk away this time, you'll lose it all back plus the extra $400 next time.  If you are in a positive edge situation for yourself, then if you lose $40 at this sitting you'll eventually make it back plus more.  

    Bottom line:  If there is a negative expectation for the player, the best amount of time to play is none.  If you are lucky enough to win a little bit, get jup and run.  If you lose a little bit, get up and run even faster.  In fact, you probably never should have been sitting in the first place.  If you are in a positiive expectation situation for the player, the best period of time to play is forever and tolerate the ups and down just like the casino does because in the end you will be up.

Page 1 of 5 (64 items) 12345