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

You will find two factors 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 some of the time. Let’s consider Horse Racing, anecdotally there are many professional punters who earn a comfortable living from picking horses, but the key word here is professional. Research and analysis of each horse within 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 many us this implies 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” on the internet charging up to Ł100 each month. When choosing a horse racing tipster the most important factor we need to think about 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 visit this page 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 final results of the tips are published the next day as well as a complete history of all their tips.

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

Following tipsters alone just isn’t prone 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 produce our own system using tips from expert sources combined with our very own research. This is the strategy successfully employed in greyhound racing by followers of the site. In most things; the better you placed into your system the greater you will get out.

Once we have a betting strategy in place it really is time for you to look-at a staking plan. The simplest is Fixed or Level Stakes where we simply bet the exact same amount, by way of 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 percentage of the current betting bank is wagered each time. Therefore as we win our stakes are larger and conversely the stakes shrink when the betting bank decreases.

However, intuitively we know these staking plans to be overly naive even as we will be putting the exact same amount of cash on a horse with low odds when compared with a horse with good odds. Even as we are looking to maximise our profits we should be putting a bigger stake on a low odds bet as the return will be less.

To discover the optimal staking plan we could take a correspondence course in statistics and dedicate several years into research. Fortunately we reside in age where this research will be at our fingertips. From probability theory we possess the Kelly Strategy where the optimal portion 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 online Kelly Strategy Calculator just feed within the values to get the percentage 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 contribute to a slower accumulation of gambling profits but a less hair-raising ride.