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All the successful Professional Gamblers I know personally, base most of their reasoning on this divergence - through sheer skill and hard work. However, it is vital to understand the long and short term fluctuations in the market, and therefore it is important to consider the following when creating your portfolio: 1. Diversification Just as a financial portfolio will often balance risk across differing market sectors, your betting portfolio should always be balanced. For example, if the different methods are all centered on the performance of the favourites in Horse Racing, you are exposing yourself to a potential loss across the board on a day when the favourites simply "have a bad day".

In order to balance this, my personal portfolio contains systems that are proven and profitable, but are each looking at differing types of races and bets. As a guide, from horse racing I am looking at proven systems relying on: Favourites winning Horses placing Outsiders placing Each way "steals" Horses Losing (Laying)In addition, whilst Horse Racing will almost definitely figure in a professionals portfolio, it is useful to diversify across sports. Though I specialize in Tennis personally, I am also looking for opportunities in Football, Darts, Snooker, Golf etc and even "Novelty Bets" such as the X-Factor or Eurovision if the right conditions emerge. Time and Effort Where possible, try to pick methods that will fit in with your lifestyle and available time.

You will find it extremely difficult, if not impossible, to follow a system that relies on placing sequential bets during the course of the day which are dependent on previous results. Where this problem can be overcome, by the no deposit bonuses casino codes of a specifically designed bot, this won't be an issue. But when starting out, do try to use methods that are achievable within your daily routine. Balancing Risk No deposit bonuses casino codes addition to balancing risk through the diversification mentioned above, you will also have to give consideration to the "weighting" you apply to each method you use.

By this I mean balancing the riskreward ratios against the probability of winning, and potential length of losing streaks. For example, although all of the systems I use within my portfolio are proven to show a profit over the long term, a system based around horses placing will produce more wins (at lower odds) than a system looking at outsiders winning. As a rule of thumb, I try to ensure that the total across all systems on a daily basis never risks more than 10 of my bank. This may be split with 1 risk through one system, 2 on another, 3 on another etc etc. The risk varies in line with the expected percentage of winning bets.

Slowly and Steady Be under no illusions, we are in this business for long term profitability, so when starting out, try not to be too ambitious with your staking. There will be a balance of winning and losing streaks across any method you use, that is the inescapable nature of statistics. If you are overly aggressive with your staking you will run the serious risk of making significant losses, which will not only take longer to recover, but will create pressure that you do not need. Betting should be Boring. If your pulse is starting to quicken, you are either staking out of your comfort zone, or employing a system that you are not confident with. You should be doing neither of these things!. Betting for a living may be a dream for many, but with the right approach it is achievable.

Paul Ellis is Professional Gambler. If you wish to catch up with his activities, learn the betting methods he employs, or download his free eBook detailing his exact portfolio please feel free to visit his website at Betting For a Living - The Keys to Success Gambling for a Living: Take It to the Next Level Sports Betting Software Programs - The Real Sports Betting Software Results Believe it or not, there are successful professional Gamblers out there who are able to make consistent, secure long-term gains and are betting for a living. If you know the key ingredients and methods they follow, it is not impossible to think that you may well be able to join them if you wish. Read on to discover some of the traits that most professionals share.

One of the most important factors is a professional approach to the business. As with any business there will be profits and losses and it is important to be able to consider these losses as a necessary part of the business, just as all mainstream businesses do. The professional will not indulge in chasing losses, or worry about the outcome of a single bet, just as a stock market investor will not sell his whole portfolio on the basis of a single days no deposit bonuses casino codes market fluctuations.

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