These days it seems like there’s nothing you can’t do online from home, and that includes gambling at online casinos and putting bets down on your favourite sports.

Many people place a wager here and there for a bit of fun, but some people hope to make a fulltime gig out of online sports betting and pull in a fulltime income.

We’ve all heard of professional punters when it comes to the horse racing industry, those that derive their living from wagering successfully on horse races.

Nowadays the professional punter can be an expert from their own living room. No more spending countless hours down at the local TAB. It can all be done from the comfort of home.

There are loads of places online, both in Australia and around the world, where you can place bets on horse races, check form guides and more, so it’s all available at your fingertips 24/7/365. You can even access everything you need from various sports betting apps as well, so you can have a flutter even when out and about.

Can you really make a living betting on horse races online though, or is it more of a fantasy than a reality?

Here are a few tips to help you realise that dream

You Need To Treat Your Punting As a Business

You can’t approach the realm of becoming a professional punter on the ponies from a gambler’s mentality. Just like any other way you want to earn a living, you have to treat it like a job or a business.

If you were a baker you wouldn’t just randomly mix some ingredients together and hope for the best. You would do what you know works, which you’ve learnt from study and experience.

It’s the same with professional punting. You need to learn the craft and take your time to create plans and formulas.

If it’s your goal to pick the winner of Melbourne Cup 2019, you wouldn’t just pluck the name of a horse out of a hat like an office sweepstakes draw. As a professional you would likely spend days or even weeks determining who the most likely winner will be.

Study, Study, Then Study Some More

Some professional punters only place one or two bets per month, but they are significant bets that can end up being very lucrative if they get it right.

Making a living from wagering on the races online isn’t about placing as many bets down as you can for each racing carnival. It’s about learning, studying form guides, getting to know more about the jockeys and trainers, track conditions and a whole host of other variables that will all come into play when determining what bets to take on what races and when.

You also want to learn as much as you can about each different type of bet you can take, including the generally higher paying exotic bets, as you likely won’t be making a living from simply trying to pick a horse for a win or a place.

You might take one or two bets a week, but those bets will be extremely well thought out, giving you the very best chance of winning and prospering.

Start Small

Before embarking on your new career as an online professional punter, start small on a casual basis. Do some study, learn as much as you can about a particular race and the horses running in it, then place a very small bet and see how you go.

If you take your time and practice, practice, practice, you’ll soon see if punting on the horses is really a viable fulltime gig for you or not.

When you start small, at least you won’t be banking your house on finding out.

Manage Your Risk Factor

All professionals will have some form of risk management in place. It’s there to protect you from losing big. It’s also there to help keep your emotions in check.

Have a set amount you’ll wager with each week and stick to it. If you lose it, don’t throw down extra money trying to win it back. Just wait until next week and try again with your allocated betting kitty.