Betting professionals such as Matthew Benham, Tony Bloom or Billy Walters are some of the world’s richest gamblers and have developed mathematical models that they have continuously refined over the years. There’s one thing they have all in common: They became rich through sports betting.
You want to be like them? Let’s get the key things you should consider to try and become rich from sports betting.
It isn’t just all about value though – the ability to correctly manage your money is almost as important. Money management is about two fundamental goals, that partially contradict themselves:
- growing your bankroll as quickly as possible
- while avoiding bankruptcy in the process
Provided you find value regularly, your bankroll will of course grow faster if you stake more per bet. But if you stake too much per bet, you risk bankruptcy. Sadly this aspect is often severely underestimated by most people. The random swings can be brutal even if you mostly place value bets. Luckily this can be handled easily by a very simple rule: Personally I would recommend you never stake more than 1-2% of your bankroll on any given bet.
If you are able to come up with a reasonably accurate estimation of your actual value, you can use the Kelly-formula to make the most of your edge – and stake ever more efficiently.