The goal for sports punters is to earn a profit whilst enjoying our favourite sport. The sad truth is the fact that for a large number of gamblers, this really is an elusive dream. However by developing and carefully following a stratagem anybody can make this dream a reality.

You can find two things to consider to profit from sports gambling:

Bet Selection – Staking Plan – Bet Selection

The very first, Bet Selection, is obvious – we need to back winners at least some of the time. Let’s consider Horse Racing, anecdotally there are numerous professional punters that earn an appropriate living from picking horses, though the key word here is professional. Research and analysis of each horse within the 59 racecourses through the UK takes a sizeable amount of time and experience. If you want to be successful then it’s really a full time job! For many us this means 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” via the internet charging up to Ł100 per month. When selecting a horse racing tipster the most significant factor we need to consider is long-term results.

The net 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 outcome of the tips are published the next day along with a complete history of all their tips.

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

Following tipsters alone is just not likely to earn us riches – the top tipsters are locked out for new members or charge such high rates that any profits are lost immediately. The solution is to create our very own system using tips from expert sources combined with our very own research. This really is the strategy successfully utilized in greyhound racing by followers of the site. Like with many things; the better you placed into your system the more you will 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, as an example 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 current betting bank is wagered each time. This means as we win our stakes are larger and conversely the stakes shrink in the event the betting bank decreases.

On the flip side, intuitively we know these staking plans to be overly naive since we could be putting the exact same sum of cash on a horse with low odds compared to a horse with high odds. Since 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 locate the optimal staking plan we could take a correspondence course in statistics and dedicate several years into research. Fortunately we are living in age where this research is at our fingertips. From probability theory we have the Kelly Strategy where the optimal percentage of our betting bank is calculated from the odds of the bet and our very own estimate of the probability of the horse winning.

Using an best online gambling site (browse around this website) Kelly Strategy Calculator just feed within the values to obtain the portion 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 through the Kelly Strategy. This would bring about a slower accumulation of gambling profits but a less hair-raising ride.