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The goal for sports punters is to earn a profit whilst enjoying our favourite sport. The sad truth is the fact that for many gamblers, this really is an elusive dream. However by developing and carefully following a stratagem anyone can make this dream a reality.

You will find two factors to consider to make the most of sports gambling:

Bet Selection - Staking Plan - Bet Selection

The first, Bet Selection, is obvious - we need to back winners at least several of the time. Let's consider Horse Racing, anecdotally there are several professional punters whom earn a comfortable living from picking horses, however the key word here is professional. Research and analysis of each horse in the 59 racecourses throughout the UK takes a sizeable amount of time and experience. If you want to become successful then it's really a full time job! For many us this implies we have to use the advice of experts to do some of the legwork for us.

Horse racing has no end of self-proclaimed "experts" over the internet charging up to Ł100 every month. When choosing the horse racing tipster the most important factor we need to think about is long term results.

The web is awash with tipsters who have had one good month but then go on to post a loss for the next six - but you will only see this one month on their own home page! Never follow any tips without first checking the tipster's full result history. Choose a tipster who publishes all their horse racing tips history, ideally where the results of the tips are published the next day in addition to a complete history of all their tips.

Take a look at a Tipster Proofing site for example Racing-Index who grades the final results for a range of tipsters. Consider which tipster gives you gave for money and fits with your own betting profile - can you truly place the 100s of tips each month some tipsters require?

Following tipsters alone isn't very likely to earn us riches - the top tipsters are locked out for new members or charge such high rates that any profits are lost immediately. The solution is to create our very own system using tips from expert sources combined with our own research. This is the strategy successfully employed in greyhound racing by followers of the site. Like with many things; the better you placed into your system the greater you will get out.

Once we have a betting strategy in place it really is time to look-at a staking plan. The simplest is Fixed or Level Stakes where we simply bet the exact same amount, for instance 2% of our initial betting bank, each time on our selected horse, however we would want to increase our wagers as our betting bank grows. This leads to Percentage Staking where a percentage of the present betting bank is wagered each time. What this means is even as we win our stakes are larger and conversely the stakes shrink when the betting bank decreases.

Alternatively, intuitively we know these staking plans to be overly naive even as we would be putting the exact same sum of cash on a horse with low odds compared to a horse with good odds. Even as we are looking to maximise our profits we should be putting a larger stake on a low odds bet as the return will be less.

To find the optimal staking plan we might take a correspondence course in statistics and dedicate several years into research. Fortunately we live in age where this research will be at our fingertips. From probability theory we have the Kelly Strategy where the optimal percentage of our betting bank is calculated from the odds of the bet and our very own estimate of the probability of the horse winning.

Using an quality online casino football (Avantisac`s blog) Kelly Strategy Calculator just feed within the values to get the portion of the betting bank to put on each horse. Now the Kelly Strategy can give us some scary percentage stakes if we have an initial run of high odds horses so we could adapt it to a Half Kelly Staking Plan where we wager half the percentage advised by the Kelly Strategy. This would contribute to a slower accumulation of gambling profits but a less hair-raising ride.