Most people who have ever had a great run on the punt start to wonder if maybe… just maybe… they could make it as a professional punter
Thoughts of working for yourself, watching racing or sports all day and making a tax-free income are undoubtedly appealing. However the reality of life as a professional punter is far, far different.
Being a professional punter – that is, relying on gambling as your sole or major source of income – can be stressful, frustrating and lonely.
What a professional punter needs
Among other things, to succeed as a professional punter you’ll most probably need all of the following:
- A profitable edge
- The ability to constantly evolve
- Extremely strong discipline
- A sizeable bankroll
- The ability to continually to make smart decisions under pressure
- A very strong work ethic
- A moderate to high level of competence with computers and technology
- Sharp mathematical skills
- Self motivation
- A resilient nature
- A love for what you’re doing
- Self belief
Some of these things are non-negotiable for a professional punter. Others you may be able to develop to the required level, if you can stay in the game long enough. But it’s a long list, and they’re not just words. If you’re seriously lacking in any of these areas, it’s likely you won’t make it.
It’s little wonder that few people actually try to become a professional punter.
And very, very few are still going a year, or five years, or twenty years later.
A professional punter’s profits
While all punters operate in their own way, most would be more than happy to achieve 10% profit-on-turnover. Over the long term, that’s very successful. There are, of course, professional punters who make more. They’re on another level again.
If your goal is to make living as a professional punter, then you need to work that out financially. As an example, if you want to make an income of $1,000 per week, then simple maths tells you that you will need to turn over an average of $10,000 each week at your 10% PoT.
This will necessitate a substantial punting bank to cope with the inevitable losing runs. Even if your method boasts a 30% strike-rate – which is quite high – it is highly likely that you will suffer a double-digit losing run at some stage soon. That’s just probability, and it affects every punter… no matter how good they are.
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Losing streaks – the emotional side
It’s not just the financials of that losing streak either. You need to manage it emotionally, too. A string of losers make it difficult for you to maintain your approach, and naturally leads to a variety of responses, such as:
- Forcing the issue and make bets that you wouldn’t normally.
- Increasing stakes in an attempt to get back to square for the day / week / month.
- Reducing stakes to protect your betting bank
- Becoming gun-shy and lose the confidence to pull the trigger on your normal selections.
Evolving as a professional punter
Another issue to consider is that what works today will not work indefinitely. Edges disappear over time so you’ll need to consistently reinvent your approach. That’s just the way a betting market works. Everybody is trying to beat it so when there’s a winning formula, that market reacts to it.
A successful professional punter is always making subtle changes to what they do – actively and subconsciously..
So what if you’re experiencing a bad losing run? Do you stick with the approach that has been successful for you in the past? Or do you make changes to try and get back on track?
This might all sound like it’s impossible to become a professional punter.
It’s not. People do it.
But just be wary. It’s not easy!
Punt like a pro with Trevor Lawson’s Melbourne Ratings. As well as a full set of rated prices, speed maps and suggested bets, you can spend each and every raceday with a pro punter: the Melbourne Ratings Live Page gives you direct access to Trev himself to ask whatever you like. If you're keen to win, it’s the only way to punt.
Punt like a pro with Trevor Lawson’s Melbourne Ratings.
As well as a full set of rated prices, speed maps and suggested bets, you can spend each and every raceday with a pro punter: the Melbourne Ratings Live Page gives you direct access to Trev himself to ask whatever you like.
If you're keen to win, it’s the only way to punt.