Are you doing online betting for living? If yes, how.?

Question

Are you doing online betting for living? If yes, how.?

Answer 1

I'm a bit lucky in that there are 2 off track betting parlors within 10 miles of my home, but I do make a living from betting on thoroughbred racing.

There are many different ways to go about it, but I'll try to outline a few simple rules. These will be for regular bets placed to win, place, or show.

1: Don't try to bet on every race. In the long run you will be losing money. Try to come up with a strategy that will allow you to bet on half (or less) of the races at your preferred track.

2: Jockeys. Winning riders currently receive 10% of the purses in Illinois, while riders whose mounts finish second or third are allotted 5%. So, aside from the minimal fee a jockey is paid to get on a horse, they are counting on the money they receive for coming in 1st - 3rd. Take the time to review who the top jockeys are at your track. Then keep an eye out for when they are set to ride a horse with odds higher than their winning percentage.

Example: a jockey has a win percentage of 16% (and is one of the top 3 jockeys for his track). That rates out at roughly 1 win out of 6 races. He might be a good choice for when his mount has morning line odds of 5-1 or higher.

3: Review your track. It is possible to see how the track has been doing by going to drf.com and looking at the results. This will let you know how the horses have been paying off. If you see that your track has an average payoff of $14 (or higher), then you know that the average odd are 6-1.

4: Someone else stated that you should study. If you want to make a living at the races, then you are going to have to treat it as a business and you will be doing quite a bit of time reviewing data.

Answer 2

Who's going to tell you that beyond yes or no? Would you? If you are making money, wising up your opponent is going to make it more difficult.

Answer 3

Not anymore, but I did a few years ago.  How?  Long hours of study.

Answer 4

The punter never wins overall, only the house.

Answer 5

they are doing it by winning money off of suckers like me in the poker rooms. stick with yahoo its cheaper

Answer 6

By being good and thorough at what you do.

  Managed a Bookmakers for 5 years, took up poker, retired from job after my 1st big win on the poker (28k).

Now my day consists of Racing Post delivered to door in morning, betfair afternoon, poker by night.

As someone already said, be selective, you can't bet every race and expect to make a constant profit, for example, I can study a days racing for 3 hours in morning then bet nothing, other days, I'm active in 8 or 9 races