Would You Enjoy Being a Professional Sports Gambler? Part 1

Part 1:  Pros and Cons

If you enjoy betting on sports, you might daydream about a life as a professional gambler, a “sharp.”  Would professional gambling suit you, though?  It’s always smart to ask yourself what you want from life and what kind of disposition you have before you really jump into seriously learning a trade like betting.  Why?  Because it’s a lot more work than you might realise.

Pros of becoming a professional gambler:

• You work for yourself and never have to answer to a boss again. 
• You organize your own time within the constraints of your daily responsibilities.
• You might work for only part of the year, depending on when you make your money, and enjoy ample time off—though you will still be researching during that time.
• You have a chance at actually making a huge income and growing it exponentially.  This is an opportunity you will never have at a normal 9-5 day job, even with pay raises.  There is no upper limit here.
• If you love sports as much as you enjoy gambling, you are making a living with two things you love.
• You have the freedom to work from anywhere, so long as you have an internet connection.

Cons of becoming a professional gambler:

• Self-employment means high taxes, and your particular business may attract audits.
• Your business carries a very high risk compared to most, and you may very well lose money.  Sometimes you may go on a losing streak and have to weather significant drawdown. 
• You may have difficulty making money off-season if you only specialize in one sport.
• You have to do extensive research to succeed as a sports bettor.  Only a real expert can make it in this industry.
• You have to be prepared to do a lot of gambling on paper before you bet real money.
• If you are balancing professional gambling with a day job in the beginning, the responsibility and time commitment may feel overwhelming.
• Becoming a professional gambler requires honesty, integrity, and taking a good hard look in the mirror on a pretty regular basis.

As you can see, becoming a professional gambler carries a mixture of advantages and disadvantages—like most professions of course.  But would it be a good fit for you?  We will tackle that in our next article on becoming a professional gambler Part 2.