One of the paradoxes of life is that at first Investment glance, gambling for a living seems to be a carefree, easy, and unconfining way to make a living. But appearances are seldom what they seem and that is especially true of professional gambling. Successful, profitable gambling is a process and not just luck.

Like any way of making a living, gambling requires hard work. The more successful you want to be in life, the harder you have to work at it. You can work hard without a plan and get some results, though they may be mixed, or you can work hard with a plan or strategy and get better results. The question is, how much of a payoff do you want for that hard work?

If you don’t want to waste time and all that hard work, I suggest you plan your work (learning how to gamble) as well as your gambling. The studying and learning are part of the job, so you have to consider part of pro gambling is education. How you get that education may vary. For some, a gambling mentor or school is the way to go. Other people choose books, videos, and other methods. While you can practice at the race track or casino or sports book, practicing before you study can be very costly.

Successful businesses usually have a business plan, in fact, business experts say that a good business plan is the most important tool for success in business. Since pro gambling is a business (and if you aren’t treating it that way, good luck making a profit and luck is exactly what you will need) it only makes sense to have a real written plan. The first part of that plan should be a list of tools that you want to acquire or have acquired to be a successful gambler. Write down what skills you will need to be a success at your chosen gambling venue.

Obviously knowledge of the game, whether it is racing, sports, or casino gambling, is a good place to start. To be successful at a game or business you have to know it inside and out. Knowing what tools (skills and knowledge) you will need and how to acquire them is a good place to start. Also, writing down some realistic goals is another requirement. If you don’t know what you want or expect, how will you figure out how to get it or even know when you have attained it?

Money management is an absolutely essential skill that you need to develop and practice vigilantly in order to succeed as a gambler. If this is starting to sound like a lot of work and somewhat confining and less free than you thought gambling would be, welcome to the real world of professional gambling.

Everything should be written down in a business plan. It doesn’t have to be real complicated but it should be clear and give good guidelines that you can follow. It is your business plan and you can edit it any time that you want to. I advise you to write your plan including goals, both financial and personal, starting bankroll and where future more money will come from, as well as what tools and skills will be needed. Next, start to budget your time. How much time will be spent each day/week/month on book keeping, learning, gambling? Also, and this is very important, how much time will you spend reviewing your plan or gambling strategy and also, finally, how much time will you spend on other areas of your life such as family and relationship commitments and responsibilities?

In fact, there are two main categories of betting exchange strategies. The first one deals directly with the ‘Long term market’ whereas the second one signifies the importance of the ‘Short term market’. You can have a glance at my e-book ‘Bookie Bonus Bunter’, for getting complete overview of the various effective betting exchange strategies.

Now, let’s begin our discussion with the long term market strategy. The long term market basically forms the period from the morning of the race to the time the actual race begins. There are in fact a lot of factors which if monitored minutely will influence the odds of the different horses involved in a bet or in a race. At times you will find that some horses may need several points to win, while there are certain others that will lump by 1-5 points, thus determining the winner of the race.

For instance, you can take a steamer on which you are planning to place a bet. As a simple betting exchange strategy, what you are supposed to do is to just back it at a much hiked price in the morning of the race and lay it off before the race is going to initiate, thus placing a bet in a strategic manner.

As far as short term market strategy is concerned, it is mainly employed before 10-15 minutes of the commencement of the race. One of the prime considerations of the effective betting exchange strategies is to place a bet in-play mode, so that you are highly liable to keep in touch with the current score of the race, tournament or any other event.

Keep it in mind that betting exchanges is all about competition. So, in case you feel that you should have some better price, it is not necessary that you have to take the price on offer; all you need to do is that adjust your ‘ask’ to a bigger price at the time of ‘backing’ and you can hope that someone else will lay you the bet.

To recommend a bet, you need to keep a watch over the exchanges on regular basis; thus you will get some recommended bets there from time to time. Always bear it in mind that whenever a backing or laying a selection is suggested, then both the players’ stakes will be mentioned.

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