How to Make Money Betting on Sports

Believe it or not, there are people that use sports betting as a source of regular income. There is not a lot of sports bettors that try to do this, but it’s proven to be possible, or at least somewhat possible. So, you may wonder, what is the secret of successful sports bettors? Let’s try to find out what things determine the difference between a sports bettor that keeps losing their money and a sports bettor that often wins or breaks even.

  • Math is crucial – If you want to earn some money by betting on sports, you need to be a good mathematician. Sports betting means finding the value, understanding the odds, and turning those odds into your advantage. Also, sports betting means that you need to be able to see through the “game” of experts, mathematicians, and programs that work for the bookies. You need to have or gain some basic knowledge of general and inferential statistics. Sports betting is more about math than anything else. You need to understand the odds, and therefore the value of your bet. If you are sure that some team is going to win, and the team does win, but also the most of the other sports bettors placed the same bet as you, the payout is going to be low. So, these kinds of sure bets don’t have a value.
  • Don’t bet with your heart – Sports betting is not about betting on the team that you like, cheer for, or think deserves a win because their players are talented or things like that. Sports betting is about the odds, not love. Learn to bet on the team that you don’t like if you see that odds for them are great.
  • Don’t bet on only one sport – If you enjoy watching just one sport, it doesn’t mean that you should bet only on it. Make things more fun and try betting on other sports. Some less popular sports have way better odds than football and basketball. So, oftentimes, they are the ones that can bring you money.
  • Matched betting – This is one of the most popular strategies between sports betters, and it is for a reason. With matched betting, you are in some way imitating the bookies. The method is not bulletproof (like no other is), but it’s probably the best one you can use. Many bookies offer free bet for new customers, and there is a great way for you to take advantage of this. This great way is, you guessed it, matched betting.
  • Money management – Never bet more money than you can afford to lose. Many people make money management mistake when they wager on sports. These people look at the money they bet as something that they may see again or even see more of it. Don’t make this mistake! If you want to bet on sports, take one amount of money that will not hurt your budget if it completely disappears. This is the best way to determine your betting fund. So, take that money, consider it gone, it’s over, it’s not yours anymore (this is your betting money!). If you see it again, great, if not, it doesn’t matter, it is not going to impact your budget.
  • Sports betting isn’t like casino gambling – In casino gambling, it’s you against the house. In sports betting the situation is a lot different. All sports bettors influence the odds, and no better is alone against the bookie. So, one single bet can’t hurt a bookie. This is also important to understand because it sheds some light on how sports betting works.
  • Bet to make money in the long run – Don’t count on a single big win that will make you rich. Although this might happen, it’s highly unlikely (better said almost impossible). So, if you plan to earn some money with sports betting, think in the long term and small wins. Every time when you win a few bucks, consider it to be a success.
  • Coming out even is a positive thing – Coming even out of a bet is not as easy as it may sound at first. If you don’t believe us do your math. You need to have more than 50% successful bets to break even. So, you can see that with sports betting there is always a bigger chance that you will just end up losing money. Having said this, let’s move to another important aspect that can’t be stressed enough.
  • Don’t get addicted – Do not get addicted to losing you money, betting passionately, and to all the hype around sports betting. If you want to get out any money from sports betting, your head needs to be clear; you need to be calm and professional about it. Gambling addiction can just ruin your chances of winning some money.
  • Being an expert on sports doesn’t always help – You can know every player, every player’s history, biggest talent, training routine, and an overall score, but it’s not going to help you with betting if you don’t understand the math behind the sports betting. So, put the expertize, passion, and fun trivia aside when you place your wagers. Some information on the team and athletes can be helpful, but the information doesn’t have a value by itself if you don’t know how to use it.

Final Thoughts

There is no bulletproof betting strategy. Also, only bet if you have money to spare. Plus, you need to understand the importance of value and how the odds work. These three things are probably the most important advice that you can get on sports betting. Besides, always bear in mind that even though it’s possible to earn some money on sports betting, there is always a high probability that you are going to lose a lot of your bets. This is not something that you should get upset about; it’s just a fact that you need to embrace. You are going to win some bets, and lose some bets. As long as you don’t end up losing a lot of money in the long run, you are doing fine. Also, breaking even in the long run is a thing to brag about.

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