Professional sports bettors place bets with their own money to make a profit, often working with a network of experts who specialize in different sports to share information and improve their chances of winning.
Median income:
Professional sports bettors’ earnings vary widely and are not publicly reported in a standardized manner like traditional professions. However, some bettors may earn up to six figures, especially when they manage their money wisely.
Lifestyle:
Professional sports bettors enjoy the freedom to set their own schedules and determine their workload, allowing them to work from anywhere and tailor their hours to their preferences.
Exciting parts of the job
Placing large bets and making accurate predictions
Experiencing the thrill of successful betting outcomes
Enjoying the flexibility of managing one’s schedule and strategies
Engaging deeply with the sports community and events
Challenging parts of the job
Emotionally detaching from the money involved, especially when experiencing quick gains and losses
Maintaining good money management and avoiding impulsive behaviors like chasing losses
The demanding schedule can lead to burnout
Education requirements:
No formal education is required to become a professional sports bettor.
This is perfect for you if:
You enjoy working with data and numbers in an organized way
You thrive in making strategic decisions often found in business settings
You like taking risks
You are knowledgeable in sports
If that sounds like you, definitely watch our interview with Andrew Sookiassian to learn more about being a professional sports bettor below!
Day in the Life
Schedule:
Hours vary. Some sports betters may start early in the morning, while others work late into the night. Their busiest times depend on the sports season and their expertise. Some bettors are especially active during college basketball and football seasons.
Setting:
Remote work, using online platforms and data analytics from anywhere with internet access. Some may travel to attend events or access specific betting markets, but it’s primarily digital.
Tasks:
Professional sports bettors spend their time searching for new betting opportunities, scouting for talented collaborators specialized in various sports or unique markets, and expanding their team to enhance efficiency and workload management.
Topics:
Sports analysis, betting markets, data, risk management, and laws and regulations related to sports betting.
Skills:
Active listening, performance monitoring, effective communication, coordination with others, and strong mathematical abilities for analyzing odds and making informed decisions.
Tools:
Tools like DonBest and Spank Odds are used for real-time market analysis across multiple sportsbooks, helping them quickly find the best betting opportunities. They also rely on proprietary software to automate accounting and risk management. In some cases, they use advanced technologies like robots, where allowed, to stay competitive in the evolving sports betting industry.
Common Characteristics
Natural Talents (strengths):
Math for odds analysis, effective money management, adaptability to sports dynamics, and deep knowledge of teams and players.
Interests:
Sports, analyzing data and statistics, taking calculated risks, and making strategic decisions. They also usually follow rules and regulations in betting activities.
Personality:
Investigative, enterprising, and conventional, being highly analytical, organized, and entrepreneurial, which enables them to manage their business effectively.
*Terms used to describe interests and personality are based on the Holland Framework.
Values:
Achievement and autonomy (freedom) as their work is result-oriented and independent, and they often make decisions autonomously and adapt strategies based on their analysis and insights.
How to Become a Professional Sports Bettor
Education requirements:
There is no formal education or certifications required. However, understanding market trends, prices, business, and data can be beneficial for aspiring professional sports bettors.
Preferred majors:
While no education is required, pursuing majors in statistics, mathematics, data science, sports management, finance, or a related field can be helpful.
Advice from Andrew
Job hunt tips to set yourself apart:
Hone math, money management, and sports knowledge skills for informed betting decisions. Gain hands-on experience and adapt to evolving industry trends and strategies for lasting success.
Fastest way to get your foot in the door:
Focus on networking within the industry and connecting with other professionals or companies involved in sports betting. Building a strong network through podcasts, industry events, and direct outreach can help open doors and opportunities in the field.
Recommended resources:
Aspiring professional sports bettors should start with books like The Logic of Sports Betting by Ed Miller and Sharper by True Pokerjoe to grasp fundamental concepts. Podcasts like Circles Off and Be Better Bettors offer insights into the professional sports betting world, though specific strategies are often kept more private within the community.
What Andrew would tell his younger self if he was just getting started:
“Don’t gamble with money you can’t afford to lose, as losses are possible, especially without proper knowledge and money management. Start with a small bankroll and demonstrate consistent winning over many bets before increasing your stakes. Moving too quickly and betting too large relative to your bankroll are common mistakes to avoid.”
