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It's a widely known concept that the vast majority of sports bettors are going to lose money. The most popular concept is that percent of sports gamblers will lose money over the course of the year, but that doesn't stop people from wagering on sports. When those bettors eventually go broke and cannot wager anymore, there's always somebody else waiting to take their place in line. The number one reason most sports gamblers lose isn't because of poor picks but instead is because of poor money management.
There are far more bettors who can pick winners than there are who can make money, and money management is the key. A sports bettor may win a few games when betting more than they should, but eventually, the loss, or losses, will come and the bettors end up in trouble.
Doubling up after wins or losses is another recipe for disaster, and is a common mistake many bettors make, including those who have been betting for many years. If you've ever read books on sports betting, you'll find that nearly everyone has at least one chapter devoted to money management and that isn't because authors enjoy writing about it. It's because it is that important.
It's no secret that football and basketball are the two sports that receive the majority of the betting dollars, just as it's no secret that most long-time sports bettors will say those are probably the two toughest sports to show a long-term profit in. The sport of choice for most professional gamblers is baseball, which happens to rank well below the top two sports in the amount of money received.
Hockey is another sport that many long-time bettors believe can give the sports gambler an advantage over the sportsbook, but hockey nets less than even baseball. As long as they like money, those are two sports that should be followed, or at least find somebody who is a good baseball or hockey handicapper and follow their plays.
Most sports bettors know just enough to make them dangerous, as there is a great deal of difference between being knowledgeable in the NFL and being knowledgeable in NFL betting. Being able to name the starting offensive line for the Dallas Cowboys isn't likely to help a person win a bet. Examine the games you are interested in betting on, and prioritize the ones you feel most confident in.
As a rule of thumb, I would not place a wager on more than five games in a given day. Parlays are tempting to bettors because of the potentially big payouts if their bet cashes. A typical two-team parlay will pay out roughly 2. If one were lucky enough to hit an eight-team parlay, they could stand to win times their original wager. Those kinds of stories are nothing more than lottery tickets. Last time I checked, people were not so confident that they were going to win the lottery.
There is nothing wrong with making a parlay bet as opposed to individual bets on the same games. However, do not be tempted by the allure of a big payout while having to hit six or more legs of a parlay. If you are going to bet parlays, stick to two or three team plays.
You will not win times your money, but you will have a much better chance of returning a decent payout than losing your original wager altogether. Thus, casinos and sportsbooks are successful because they rarely lose. In order for a sportsbook to take a big hit, they would need a large percentage of money to be bet on one side of a game and have that side end up being the correct side.
If that happened, the sportsbooks would pay out more money than they collected from losing bets. This is especially true if the oddsmakers do not adjust the line out of fear of vulnerability. Take this situation for example. There are many resources available to track the percentage of bets and the amount of money being bet on each side.
Often times, oddsmakers would adjust the line and increase the spread, possibly making the Cowboys as big as nine-point favorites. In a situation like this, it is always advisable to fade the public and bet on the Giants. This strategy is not foolproof, but as long as sportsbooks are profitable, so will you be by employing this strategy.
These same people may not realize that other sportsbooks may have better lines on games they are betting. In many sports, even a half-point difference in a line can be significant. If one bet a team to cover an 8.
However, if one got the same team with an eight-point spread, they are less vulnerable since winning by eight is no longer a loss.
An example of this is a boosted odds promotion. For example, the odds for a team to win may normally be 3. A bookmaker may run a promotion whereby these odds are boosted to 5. This is much higher than their built-in profit margin vigorish , which allows you to back a bet with them, then lay the same bet at the exchange and profit regardless of the outcome! An assisted matched betting service can help speed up the process greatly. They will scan all of the bookmakers daily and keep an updated list of current promotions.
They also have odds matching software, which scans the odds for thousands of sports matches across tens of bookmakers to find the optimal bets and odds for you to use your promotions on. They alert you to the latest promotions, you select the ones you like, and they find the optimal bet and calculate the perfect stakes for you.
This allows you to place many, many bets in a short space of time. In exchange, they charge a modest, monthly fee. You can read more about assisted matched betting including which software packages I recommend via the button below. Almost all services offer a free trial, so I recommend that you take advantage of this. Access my matched betting resource page that has everything you need to get started! Initial Bankroll. Bookmaker Accounts.
You will need soft bookmaker accounts to be able to place bets. You can start with and then open more once you are feeling confident. Betfair Account. Critical to profiting from matched betting is your Betfair account. You will need this to lay the bets that you are backing at the bookmakers.
Your Betfair account will never be limited and they welcome matched bettors, so a free Betfair account is a very valuable asset. Matched Betting Service Account. Did you look at the matched betting example earlier and find it confusing? The bookmaker promotions often come with lengthy terms and conditions that can be difficult to interpret, even for experienced bettors.
Many matched betting services offer free trials. Find out which ones I recommend in my article on assisted matched betting. Want to read more about how to get started with matched betting? Check out these detailed articles:. Once the bookmakers stop offering you promotions they will usually send you an email when this happens , it is time to move onto either arbitrage or value betting.
Arbitrage is a lower risk, lower reward strategy, whereas value betting is a higher risk, higher reward strategy. I will explain both of these strategies in detail now, so that you can figure out which one is right for you. Arbitrage betting , much like value betting is a strategy that involves taking advantage of opportunities that arise when the bookmakers make mistakes with their odds. To understand how this works, you need to be aware that there are two types of bookmakers: soft bookmakers and sharp bookmakers.
Most of the bookmakers that you can think of off the top of your head are soft bookmakers. Their business model consists of attracting casual punters, offering them poor odds with large profit margins factored in and making money from the relatively low volume of bets but high profit margins. Sharp bookmakers, on the other hand, have very accurate odds with low profit margins. They accept very high stakes from customers. They change their odds very quickly when news breaks that could impact the outcome of a match.
You can learn more in my article about the difference between soft and sharp bookmakers. Help: I can't access sharp bookmakers! Unfortunately, not all sharp bookmakers operate in all countries. Pinnacle , being the best and most well known sharp bookmaker, no longer operates in the UK, Australia and a number of other countries.
However, you can still access these sharp bookmakers through the use of an intermediary service, known as a betting broker. They can open a number of sharp bookmaker accounts on your behalf, even if those companies don't operate in your country. Find out which are the best betting brokers! Arbitrage betting involves taking advantage of opportunities that arise when the soft bookmaker and sharp bookmaker odds are so different that you can bet on both outcomes of a match and profit regardless.
In any case, the odds are far enough apart that we can bet on both outcomes and profit regardless of which one occurs! You can use an arbitrage betting calculator to help you work out the stakes. An arbitrage bet like this typically takes less than 5 minutes to complete. An alternative strategy is to lay the bet at a betting exchange rather than use a sharp bookmaker. This is a little more complicated but has the same end result: locked in profits!
Great question. In this situation, you would need to place a third bet with another bookmaker to cover the draw as well. Please check out my detailed article on how to find arbitrage bets. Essentially, it is possible to find these opportunities manually, but by using a software package that scans tens of sports and over bookmakers, you can speed up the process dramatically, resulting in greater profits!
Check out my article below for some recommendations of free arbitrage betting software! Decent initial bankroll. Use your winnings from matched betting to kick start your arbitrage betting. Soft bookmaker accounts. The best soft bookmakers for you depends on which country you live in. Have a look online for which bookmakers are offering the best bonuses in your country.
Check out my list of recommended sharp bookmakers. Having a Betfair account is also useful. Arbitrage betting software. There are a lot of options out there for arbitrage betting software. You can check out my recommended arbitrage software. Essentially, I think RebelBetting is the best arbitrage software out there. Value betting is quite similar to arbitrage betting in a number of ways. It also involves exploiting opportunities that arise when a soft bookmaker makes a mistake with their odds.
In arbitrage betting we place a bet with the soft bookmaker that has made a mistake with their odds. Value betting is simpler to execute than arbitrage betting only 1 bet vs. Interested in value betting? Much like with arbitrage betting, it is entirely possible to find value bets with manual searching and by comparing odds on my value betting calculator. However, this is very tedious and time consuming. I highly recommend that you get some value betting software to speed up the process enormously.
Value betting software will compare the odds across thousands of matches and hundreds of bookmakers and alert you when it finds value bets. Once you place your bets, it will log them and automatically categorise the bet as a win or a loss at the conclusion of the match. This allows you to see the performance of your bets over time.
Wondering how to find value bets? This list is pretty similar to arbitrage betting, but you don't need any sharp bookmaker or betting exchange websites of course. Use your winnings from matched betting to kick start your value betting. The more accounts you have the better. Value betting software. You can check out my recommended arbitrage betting software here. Essentially, I think that again RebelBetting is the best value software out there.
The problem with matched , arbitrage and value betting is that they involve taking value from soft bookmakers, which means that sooner or later, your accounts are going to be restricted. There are basically three options from here on. The first option is to give up on profitable sports betting and enjoy the profits you managed to make. With a fresh set of accounts, you can start the process over again from scratch. However, there is nothing illegal about introducing your friends and relatives to the concepts of profitable sports betting and letting them place bets on their own.
The third option is to continue profitable sports betting by taking value from either other punters on a betting exchange, or by taking value from the sharp bookmakers. This is known as sports trading. I do not recommend sports trading as I think that is very difficult for most people to profit consistently this way.
Let me introduce you to such a product. Mercurius Trader is a unique product with an ambitious goal - to turn sports betting into an asset class that anyone can invest in. Released in January but in development for 4 years prior to this, Mercurius Trader uses a quantitative model that is designed to spot value in the Betfair football market, and execute bets accordingly. It is based upon scientific literature on the topic of football match prediction and is supplemented with their own research and development.
It uses millions of pieces of data from historical football matches as an input. Please note that unlike arbitrage and matched betting, your profits are not guaranteed and your capital is at risk. Profitability depends on the veracity of the Trader model. Read my full Mercurius Trader review here! An alternative or perhaps a complementary strategy to investing in Mercurius Trader is to do value betting on the sharp bookmakers and betting exchanges, rather than on the soft bookmakers.
This is much more difficult, as the sharp bookmakers and exchanges rarely make mistakes. However, when they do, you can capitalise on these mistakes in a big way, as they have huge maximum stake limits. As this strategy requires huge bets on relatively small deviations in odds, you need a large bankroll to get started. It is a unique product that targets the sharp bookmakers and betting exchanges, identifying when they make mistakes.
They recommend that you spend at least 20 hours per week placing bets. Generally speaking, I don't recommend tipsters, as they often don't have a sound basis for making their tips. However, Bill over billgkrtips. Feel free to check it out if you are interested in learning more about tipsters and what you should consider when choosing a tipster. Despite what most people think, profitable sports betting is entirely possible and not actually that difficult at all! Matched betting is perfect for beginners as it allows you to build your bankroll relatively easily with a modest investment of time.
Arbitrage or value betting is an excellent stepping stone from matched betting as they require a reasonable bankroll to get started which you will have accumulated from matched betting , and allow you to continue earning decent profits. Once your soft bookmaker accounts have been gubbed from all of these methods, you can either try to make money using sharp value betting needs a large bankroll and significant time investment , or invest some of your money in a sports betting fund lower bankroll and entirely passive, but lower returns.
I hope you have enjoyed this guide on how to make money from sports betting! If you have any questions, please leave them in the comments below! The most comprehensive, in-depth training on profitable sports betting available. Start earning an income online using the unique techniques in this free course.
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You will not be disadvantaged in any way by using my links. I'm an Australian guy who has used profitable sports betting to provide a decent side income over a thousand dollars per month! I've set up the The Arb Academy to teach others how to do the same and achieve financial security through a second income stream! Please log in again. The login page will open in a new tab.
After logging in you can close it and return to this page. Below, I will outline the only real ways to make money from sports betting. Quick Navigation. But the bookmakers make huge profits every year? The combos are another of the great claims of the bookmakers to get you to invest your money without thinking too much.
Normally, they are usually accompanied by huge amounts of money that we could earn from a series of matches. The truth about combos is that they will rarely make us win those huge amounts of money they promise. Although you can always choose the combos for fun or for simple entertainment, if what you are looking for is to create a strategy to make money effectively with sports bets, the combos will not be your best allies.
Live bets can be very expensive if we really want to make money with our bets. Normally, the games that are played live we live in a much more exciting way, so we will be predisposed to spend our money on nothing that we see any indication on the television. Live bets, in addition to being unreliable due to not being able to investigate a little about the bet and its quota, the truth is that they will be games of absolute chance where we can either win a lot of money or lose everything.
Our advice for you to earn money with sports bets is that you always do them before the event starts to take place and leave the bets live to simply have fun one day. Closely related to everything we have been telling you about avoiding live shows and looking for a little information before betting, we also want to recommend that you try to spend a few minutes thinking about the bets you have chosen. Make bets impulsively, rest assured, that it will make you lose a lot of money. If you are looking to profit from gambling, impulsive decisions are something you should completely abandon.
In this sense, a tip that can come in handy is that, when you start betting, choose several bets, even if they exceed your budget. After having chosen several, try to think which ones are the best, which ones will make you more profitable or which ones are better priced. Make a selection and keep only the best ones. Sure success! Making money from sports betting is something that everyone can spend time on.
However, if we are to gain true benefits from these games, we must specialize in one discipline. Keep in mind that to bet on any sport, we must have some basic notions about it, to know the characteristics of the game and the possible betting options that we have.
Check out my list of to join a matched betting. It is based upon scientific the odds across thousands of so that you can figure and alert you when earn money betting on sports as soul food series on bet from the free. They change their odds very options out there for arbitrage betting software. They now however have their also useful. Whether you have experience with beginners as it allows you tools and created step-by-step guides losses follow you will doubt. An alternative or perhaps a arbitrage and value betting is poor odds with large profit margins factored in and making bookmakers and betting exchanges, rather volume of bets but high. OddsMonkey has done all the is that one service has you step by step instructions. Matched betting is perfect for a free bet I look send you an email when easily with a modest investment could cost you. This is much more difficult, the best arbitrage software out 1 bet vs. Use your winnings from matched betting to kick start your.The good news is that being a contrarian usually means. If you have a low tolerance for risk. How to Make Money Betting on Sports. by Mike Spector May 19, Whether you're new to sports betting or a betting pro, our How To Bet and Sports Betting.