Many times we are talking about people’s success in sports betting, which usually translates into big profits and a lot of money. But how significant could this success be? In the end, when is a bettor actually considered successful?

To answer these questions, one has to take into account the profit made in relation to the time consumed, which are the most objective criteria to qualify a player as being successful.

Success in sports betting: 7-day P&L at Betfair (BetAngel)

Can we be successful in sports betting year after year?

A successful bettor is able to make money almost every year.  However, in 10 years’ time, even the most efficient bettor may come out losing for a year. That difficult year will be a challenge for most good bettors, since it will be yet another test of their skills as successful players.

Those, who can withstand the psychological pressure not to make money for a long period of time, or even lose some in the process, will stand out from the rest. It takes lots of courage and strength to continue betting in the following year after taking a beating for 12 months.

Yet, this is not the rule. A bad year may never occur.

Nevertheless, successful players have to prove their qualities in the long run.  A fortunate player who ran good for a year or two have still a lot to prove before being considered successful.

[quote type=”center”]This is because a betting system that works today may not work tomorrow.[/quote]

The good player has the ability to adapt to new conditions, taking the decision to even abandon a system which have previously generated a big profit. And they are prepared to do so, if the method does not work anymore.  This move requires great strength, as players often attach themselves to one betting system or technique, stubbornly refusing to change their strategy.

Why do great players need to prove their success in sports betting for so long?

The reason is that the number of bets placed by various players may differ in the time span of one year. Compare two extreme examples: a player who bets 10 times a year as opposed to another bettor placing 100 bets per week. The latter would risk 5,200 bets on the same period of time as the former.

Simple logic suggests that it is more likely that the most active player has come up with a system that generates profit.  When more bets are placed by a player, this might be an indication of success.

However, the vast majority of players are averaging a number of bets each year, which in no way is close to those numbers.   As a result, a year would not be enough time to gather a sufficient number of bets before conclusions can be drawn.

Besides time, it is also a matter of money.  Again, we compare two extreme cases. A player has earned €25,000 in the last 5 years, while another €250,000 in the same period of time. Both have proven they can come out winners in the long run. But the former bettor wins €5,000 a year in sports betting, while the latter tenfold that amount.

If we’re talking about players who spend many hours daily, betting being like a profession to them, the performance of the first case is not satisfactory at all. The amount, of course, is always seen under the projection of the cost of living in the country a player is residing, even in professional gambling.

A generally accepted rule is that annual gains should average 5 times more than an ordinary job salary. In the case next year comes out negative, the decline should not strongly affect average earnings.  When a change on strategy is necessary, there should be enough money available to ensure living till next investing decision.

Achieved profit at online poker by unknown poker player.

In addition, professionally engaged players in sports betting should make arrangements for their benefits of subsequent years, both economically and in terms of health.  All these expenses should be covered by saved winnings.

Consequently, the adjusted total amounts in terms of profits, as well as time spent, are the most objective criteria for the distinction of successful players from the rest of sports bettors.

The type of a system a player adopts, the number of times a prediction is confirmed right or the odds on which bettors place their bets, do not really matter in order to measure success in sports betting!