My husband has been sports gambling the past 2-3 years on the side and has made a nice chunk of change doing it. He reads and watches an insane amount of sports and is very intelligent and doesn’t do any bets that are high risk (he hedges his bets and makes a lot of small bets so not all his eggs are in one basket). I have been fine with it being on the side and low cost, but he recently told me he wants to go full time and pull $10,000 out of savings to do so. We have a lot more than $10,000 in savings but the idea of this being his only source of income is terrifying. I am not on board but he is crying and begging me to reconsider because this is his dream. This man breathes and lives sports but I don’t think I will ever feel comfortable knowing at any time he could lose a lot of money or just not make anything. Anyone go through something similar or have any advice on how to handle this?
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Not sure what to tell you. The most successful sports betters win 52 to 54 percent of their bets so they are making a living on 2 to 4 percent of their bets. If you don’t have a risk reward mentality it will probably just drive you crazy. I mean I dream of being a professional beach goer but i don’t think there is much demand for that. I don’t think anyone really makes a living sports gambling most people are on the end giving advice and marketing their knowledge to others or getting sponsorships from people like fanduel. So i would be very wary of him making a living this way. I work for a regulator of gambling so I do know a little about this. Good luck.
if he good at it and you have more than enough i dont see a problem. i really dont think doing it full time is a good idea unless yall are 100 percent secured
I have met a handful of professional gamblers in my life and they all have some other source of money. There is a younger guy here in town who does sports betting and makes about $50,000 a year on his bets, but he depends on passive income buisnesses for his day to day expenses. He told me once that most professional gamblers who need to win to make rent, etc usually fail.
It takes a lot of discipline to be a professional gambler so instead of grabbing money from savings, I would recommend that he finds another way to earn or save up that money. If he is disciplined enough to set a goal like that and achieve it then I would feel better about letting him pursue sports betting full time as long as I knew that we had enough money to meet our obligations without using our savings. That is just me though. My spouse and I have started many businesses and
Did you know sports have a predetermined outcome even before the game starts the winner and loser has already been decided. If your husband m ows what he is looking for he can do it, make a living from betting.
Does that “nice chunk of change” exceed what he makes consistently at his steady and risk free job? Would the 10 large exceed what he has already won? And why would it have to be full time?
Lastly, do you also work and do you share a bank account?