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

One of the first factors must be establishing a betting bank that is used exclusively for this purpose, it must not be money that is required for day to day living expenses or bills and must 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 on-line bookmakers are used to build a bank through risk free betting. It is entirely possible to build up a betting bank running into thousands of pounds using this method.

It shall then be necessary to establish the portfolio of methods that you'll be applying. Although horse racing is usually the very first sport many think of as we talk about betting, most professionals will spread their risk across different sports, betting on Tennis, playing soccer, i was reading this,, Cricket etc. This has the effect of creating a managed betting portfolio similar to how investments are made in the currency markets. The particular methods used will be a combination of tried and tested methods supplied by third parties, and methods that the professional has developed for themselves over time.

An essential component will be the psychology of the Professional. They has to be able to take a long-term view of their betting activity and also by keeping accurate records be pleased to accept the inevitable ups and downs. The key to survival will be the generation of consistent profits over time, not the daily results.

Following the creation of the betting exchanges, primarily betfair, a big range 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 prior to the event has finished, or in many cases prior to the event has even started!

With having said that, the obvious question is where to start, which can be the main stumbling block, it certainly was for myself! The internet is awash with "Guaranteed" winning betting systems that make the most outrageous claims of success. In my experience 90% of these fail to deliver. Being an initial pointer I would suggest that you will want to look for some or all of the following characteristics when thinking about a approach to add to your portfolio:

Are the previous results disclosed verified and checkable? Is there a real person you can contact( and also you should contact them as the quality of their reply will often give an indication of the individual 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 or maybe full-time basis from betting, myself and lots of others that I know personally are evidence of this, but it is rather easy to lose money should you not set about the process in the correct way. Please feel free to visit my website for a far more in-depth analysis of several of the factors that may determine your success.