Did you know that there are men and women who make an income handicapping horses? Make no mistake, EZ Horse Betting as a way to earn a living is not for the faint of heart. It takes patience, knowledge, and the willingness to devote time and effort to studying horse racing. Here are some things you might not realize about being a professional handicapper.
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A Hard Way to Make an Easy Living
Handicapping horses for a living is not an easy way to riches. The famous poker player Doyle Brunson once said that gambling is a hard way to make an easy living. Many people are not equipped to manage the emotional highs and lows that go along with gambling. One day you are on top of the world. The next day you can be at rock bottom.
If picking winning horses were easy, everyone would be doing it. Even the best handicappers in the world are lucky to cash one out of every three bets. If this is true, how do they make a profit? The answer is that the pros know how to maximize their returns. They do not make bets just to experience the thrill of betting action. Every bet they make is an investment. It is a calculated risk that is designed to produce financial return.
A joke often heard on the race track goes like this:
“Do you own any horses?”
“No, I just lease them for two minutes.”
The professional horse racing bettor looks at every race as an investment opportunity. They are investing money for a very short period of time in the hopes of getting a huge return. Sometimes the investment pays off, and sometimes it does not. To make a profit, a bettor must have more winners than losers, and that makes handicapping horses for a living a lot like playing the stock market. You have to know when to get in, and when to get out.
How to Bet Race Horses for a Living
If you want to take the step of becoming a professional handicapper, there are a few things you are going to need. Above all else, you will need the mental outlook that is required for successful gambling. This means that you cannot become emotionally invested in the wins and losses of betting horses online.
Some old school gamblers have said that the secret to being a successful bettor is hating money. This defies logic but makes a certain kind of sense. If you become too attached to money you will get greedy. Greed is the downfall of any gambler. Some professional horse bettors set a goal of earning $100 a day. For others it may be $75. If they make their goal for the day they are happy to go home.
Another thing you are going to need betting horses for a living is a large bankroll. The average bankroll of the recreational bettor just won’t get it done. You should plan on setting aside one full year of betting capital before you take the plunge and start betting for a living. That will give you the best chance to succeed. If you bust out then you are out of the game until you can build another bankroll.
The Lure of Easy Money
An old song by the Eagles has a great line in it. “The lure of easy money has a very strong appeal.” There is nothing quite like cashing a big winning ticket on a horse race. When that happens, the game seems all too easy. The professional handicapper knows that this is misleading. It is never easy, and those who make a living at it know just how hard it can be.
Some people are attracted by what they believe is the glamorous lifestyle of a professional bettor. They have seen the movies where a gambler rides in fine cars, sleeps with beautiful women, and eats good food. They stay in the best hotels and always have a big tip for the bellman. That is a Hollywood vision. Anyone that has been around a race track will tell you there are plenty of down and out people who thought they could make it as a gambler.
Here’s what your life will be like if you decide to handicap horses for a living. You will spend a large part of every day going over past performances and race charts looking for a winner. You will prefer to spend an evening at home alone studying over going out with your friends. You will watch a lot of racing. Essentially, horse racing will become your life.
Making a Living Betting Horses Online
There is one strong advantage that the horse bettor of today has over the handicappers of the past. The online racebook has surely made it easier to bet horses for a living. The bettor no longer needs to leave home to make bets. This cuts down on expenses and creates more potential for profit. All you need is a computer, phone, or tablet and an internet connection.
Online racebooks give you access to more tracks and races. More opportunities to make bets means that you will have an easier time finding winners. More winners equals more profits. It is even possible to bet horses online today with Bitcoin. Some gamblers are doing very well using cryptocurrency to make horse racing bets.
Until you are ready to take the plunge and bet horses for a living, we have recommended several online horse betting sites that you can try. And you can always bet just for the thrill of it. In fact, it’s better for most people to engage in horse betting as a leisure activity instead of a job.
Check our Bovada racebook review, Twinspires review or even our Betamerica review. All great choice if you are in the US. 5Dimes review for folks anywhere! The fact is that you will probably have a lot more fun without the pressure of needing to make a certain amount of money each day.