The goal for sports punters is to earn a profit whilst enjoying our favourite sport. The sad truth is that for virtually all gamblers, this is an elusive dream. However by developing and carefully following a stratagem anyone can make this dream a reality.

There are actually two things to consider to benefit from sports gambling:

Bet Selection - Staking Plan - Bet Selection

The first, Bet Selection, is obvious - we need to back winners at least several of the time. Let's consider Horse Racing, anecdotally there are several professional punters whom earn a comfortable living from picking horses, although the key word here is professional. Research and analysis of each horse in the 59 racecourses throughout the UK takes a sizeable quantity of time and experience. If you want to become successful then it is a full-time job! For almost all us it indicates we have to use the advice of experts to do some of the legwork for us.

Horse racing has no end of self-proclaimed "experts" over the internet charging up to Ł100 every month. When choosing the horse racing tipster the most significant factor we need to consider is long-term results.

The web is awash with tipsters who have had one good month but then go on to post a loss for the next six - but you will only see this one month on their own home page! Never follow any tips without first checking the tipster's full result history. Choose a tipster who publishes all their horse racing tips history, ideally where the results of the tips are published the next day together with a complete history of all their tips.

Take a look-at a Tipster Proofing site such as Racing-Index who grades the final results for a range of tipsters. Consider which tipster gives you gave for money and fits with your own betting profile - can you really place the 100s of tips each month some tipsters require?

Following tipsters alone just isn't likely to earn us riches - the most effective tipsters are locked out for new members or charge such high rates that any profits are lost immediately. The solution is to produce our very own system using tips from expert sources combined with our own research. This is the strategy successfully utilized in greyhound racing by followers of the site. Like with many things; the greater you placed into your system the better you could possibly get out.

Once we have a betting strategy in place it is time to look at a staking plan. The simplest is Fixed or Level Stakes where we simply bet the exact same amount, for instance 2% of our initial betting bank, each time on our selected horse, however we would want to increase our wagers as our betting bank grows. This leads to Percentage Staking where a portion of the present betting bank is wagered each time. Therefore even as we win our stakes are larger and conversely the stakes shrink in the event the betting bank decreases.

In contrast, intuitively we know these staking plans to be overly naive as we would be putting the exact same total amount on a horse with low odds in comparison to a horse with good odds. Once we are looking to maximise our profits we should be putting a larger stake on a low odds bet as the return will be less.

To find the optimal staking plan we might take a correspondence course in statistics and dedicate several years into research. Fortunately we are living in age where this research will be at our fingertips. From probability theory we possess the Kelly Strategy where the optimal number of our betting bank is calculated from the odds of the bet and our own estimate of the probability of the horse winning.

Using an learn online casino football (continue reading this..) Kelly Strategy Calculator just feed within the values to obtain the number of the betting bank to put on each horse. Now the Kelly Strategy can give us some scary percentage stakes if we have an initial run of high odds horses so we could adapt it to a Half Kelly Staking Plan where we wager half the percentage advised by the Kelly Strategy. This would cause a slower accumulation of gambling profits but a less hair-raising ride.