Unlike many other types of gambling, where skill or knowledge are completely irrelevant, both poker and sports betting are types of gambling where many skills come into play. Being a successful poker player requires a whole plethora of skills including discipline, mathematical understanding of the game, making decisions under pressure and many others.
Poker players develop a very special skillset when playing, especially those who do it for a living and this skillset can also be transferred to many other areas of life. Namely, sports betting is one area where poker skills can come in very handy and many professional poker players do bet sports on the side.
Here are a few poker skills and ways in which you can use them in sports betting as well, to make some extra cash on the side.
Bankroll management is a crucial part of every poker player’s career. If you intend on playing poker for a living, you better have a proper bankroll to maintain those periods when you are on a bad streak as this will happen even to the best and professional poker players know this. Depending on the difficulty of the game in question and the amount of money you are playing for, you will need to calculate a certain maintainable bankroll.
In a similar way, if you want to make some real money betting sports, you will have to play with a bankroll that can withstand the losses when they happen. The higher your average odds, the more money you will need an even placing bets on low odds singles will still require at least 40-50 units.
As a poker player, you will easily be able to calculate the risk and keep a bankroll that is sufficient for the bets you want to make.
Many professional poker players will tell you that game selection is the single most important skill a poker player can have. While honing your skills against skilled opponents is a smart thing to do on occasion, the actual money in poker is made by playing against weak players whose chances of beating you are low.
While betting sports means you will be playing against the house, you will still want to find the biggest edge possible. This of course means betting every single event with the bookmaker who is offering the best odds for the game you wish to bet.
While this is not game selection in the same sense as it is in poker, it is something very similar. You are looking for the best spot where the cards you are dealt or the bets you place will likely win you the most money. You can use http://www.yourate.com/ to keep track of all the best bookies out there and what they are offering.
Every hand of poker involves a certain amount of risk. There are very few spots where you are sure you will win the hand, while in most others it could go either way by the end of the hand. However, poker players are able to assess what their chances of winning are and place bets based on these chances and the opponent’s likely holdings, tendencies etc.
Again, sports betting is a somewhat simpler game with fewer factors, but the principle is very similar. You need to find a bet that you believe is more likely to come through than the bookies believe. This is the way to actually make money in sports betting and poker players have a distinct advantage of knowing how to calculate the chances of an event happening.
The one place where so many sports bettors fall is placing bets out of boredom or simply increasing the stakes to try and win huge quickly. Poker players are professionals who know how much they can win and understand things like winrate, variance and other similar concepts.
With these skills, poker players make much better sports bettors as they are able to make bets that make money in the long run day in and day out without going crazy, taking any big shots or doing anything else to jeopardize their bankroll without need.
As you can see, there are plenty of things a professional poker player can bring to the table at sports betting, so if you are playing poker for a living, we strongly suggest you learn how to bet sports as well as you already possess the necessary skillset and you could be making extra money by placing sports bets on occasion.
HPG ADMIN on April 21, 2017