Thursday, Jul. 24, 2014

Making a Living

Making a living from football.

Welcome to the 3rd installment of our "Make a Living from Football Betting". This week we are going to look at Money Management. In other words, how to avoid losing your entire betting bank and thus, keep yourself in the game.

In my mind an Investor is someone who takes their time weighing up the risks and rewards for the investment they are about to make. (Though it makes me wonder with those City Whizz Kids playing fast and loose with our money over the last few years).

First things first, if the system you are using to make your selections is not producing a profit, then no staking plan on earth will turn that loss into a gain, that is a mathematical certainty and anyone who tells you other, is misleading you.

For the last 7 years my sole income has been from my football betting. With no other source of income, it certainly does focus the mind. Friends and acquaintencies have often asked what type of life it is? and is it easy? can anyone do it? and can it be taught? My answers to these are, gruelling, definitely not, only those with a certain mindset and in some circumstances.

When it comes to sports betting, everyone talks about "the edge". "You've got to have the edge" or "you can't win without the edge". The thing is, from where do we get this mystical edge.