What tips would you give someone starting a betting business to beat the bookies?

If you want to succeed as a better then you have to understand that you aren’t trying to beat the bookies. What you’re trying to do is outwit the public opinion. The bookmaker is nothing more than a broker. Betters aren’t fighting the house, but the other customers making bets with their bookie. A pointspread is put together to ensure that both sides get plenty of action, not predicting the outcome of an event.

Money Management

You also need to have mastered money management. This is something that is just as important as making accurate predictions. You shouldn’t make a large bet in order to make your money back after a bad day, or try and earn more than you deserve. You should never bet more than 2% of the money you start out with, and bets should be kept flat. A successful better is one that rarely alters the size of their bets. This is a piece of advice that will never steer you wrong. Let’s say you had $1,000 in total to bet with; that means you should never bet more than 2% of that amount ($20) with each bet. You should also avoid changing the size of your bet. Keep betting just $20 until you’ve built up $1,500 or lost $500, at which point you can shift the bet to 2% of the new total.

Business Management

If you want to be successful at running a betting business, you have to treat it like any other kind of business. Your cash is the inventory for your business. Running out of cash means being out of business. They say that you should never bet with your rent money, and this is an accurate way to look at things. On the other hand, those who gamble for a living should never be paying their rent with their gambling money. It’s money for your business after all. A businessman would never use company money for personal expenses.

Do Your Research

If you’re seriously considering being serious about your betting, then you owe it to yourself to study and read up on the matter by reading the experts. Make sure that you understand the betting platforms you are using. There are also learning resources to take advantage of. At the very least you need to Education of a Sports Better by Bob McCune. It helps to learn more about the casino you’ll be betting with as well. If you’re using Bet365 for example, then read through this Bet365 guide.

Every successful business owner and investor is propped up by advisors, and a better is no different. If you want to be a consistently successful better, then you should consult a legitimate handicapping service. There are plenty of professional handicapping services that have been around for a long time. So do yourself a favor and look them up.

Risk Management

If you’re looking for long-term successful gambling, then you also need to be able to tolerate risk. You can get a guarantee with that appliance in your kitchen, but you’ll never get one with gambling. Always remember to avoid betting more than you can afford to lose.

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