To many, being a Professional Gambler would be a dream job, but can it be done? This article looks at how it's possible to achieve success, and also the traits and factors that the professionals have in common.

One of the first factors must be establishing a betting bank which is used exclusively because of this purpose, it must not be money which is required for day to day living expenditures or bills and has to be money you are prepared to lose. A popular way of establishing this initial bank is through matched betting, a technique where the bonuses provided by the internet bookmakers are used to build a bank through risk free betting. It really is entirely possible to build up a betting bank running into thousands of pounds using this method.

It shall then be essential to establish the portfolio of methods that you'll be applying. Although horse racing is often the first sport many think of as we speak about betting, most professionals will spread their risk across different sports, betting on Tennis, Soccer, Cricket etc. This has the effect of creating a managed betting portfolio similar to how investments are made in the stock exchange. The specific methods used will be a mix of tried and tested methods supplied by third parties, and methods that the professional has developed for themselves over time.

A crucial component will be the psychology of the Professional. They must be able to take a fantastic read long-term view of their betting activity and also by keeping accurate records be happy to accept the inevitable ups and downs. The key to survival will be the generation of consistent profits in the long run, not the daily results.

Following the advent of the betting exchanges, primarily betfair, a sizable number of the professionals i know include an element of trading in their betting activities. What this means is they look to place back or lay bets which are then traded out for a profit before the event has finished, or even in many cases ahead of the event has even started!

With that said, the obvious question is where to start, and this can be the main stumbling block, it certainly was for myself! The net is awash with "Guaranteed" winning betting systems that make the most outrageous claims of success. In my experience 90% of these fail to deliver. As being an initial pointer I would suggest that you should look for some or all of the following characteristics when contemplating a method to add to your portfolio:

Are the previous results disclosed verified and checkable? Is there a real person you can contact( and you should contact them as the quality of their reply will often give an indication of the person behind the system) Is there a secure Money-back guarantee?

In conclusion, it's certainly possible to make consistent long-term profits on a part time as well as full-time basis from betting, myself and many others that I know personally are proof of this, but it's extremely easy to lose money if you don't set about the process in the proper way. Please feel free to visit my website for a more in-depth analysis of several of the factors that will determine your success.