Being able to guarantee oneself a profit from a sporting event, irrespective of the outcome, is the holy grail and is what sets traders and traditional punters apart. By taking a calculated risk, combined with sensible money management, it is possible to take the gamble out of sports betting. By doing so before the event even starts means a sports trader does not care who, or what, wins the event.

Just like the stock market rises and falls, so do the available odds in sports events as the chances of success of each participant is constantly reassessed by the market. By making use of the sports exchanges such as Betfair and Betdaq, it is possible to back (sell) a selection at high odds and lay (buy) it a low odds thus locking in a profit.

In addition, a software industry has grown up to service the needs of sports traders. By using applications such as The Toy, Bet Angel Pro and Gruss to name but three, positions can be opened and closed in the market with the minimum of fuss and usually using one click of a mouse button.

The Bet Your Life Sports Trading website endeavours to bring you hints and tips in your quest to become a profitable trader. It does this primarily through a daily blog, which details the trading progress of one trader, Alistair Hamilton, who started out in late February 2008 with a £10 bank and has since turned that into thousands. You'll also find other useful facilities contained within this site, such as its chat room, where traders can interact live.

Feel free to browse the site. There's no catch and the facilities are free to use