About the main mistake of beginners, bookmakers’ commission, private bookmakers and finding valuables bets.
There are several answers to the question of how to make money on sports betting. Profits from betting are made by bookmakers, privateers, cheaters and some clients of the betting company. In this article we will tell you how to make betting a profitable business and whether it is realistic for ordinary players to earn.
Making money from betting is real, but don’t treat betting as your main income
First of all, beginners often ask the question if it is possible to make money from betting, and only then think about the rest. This is a common mistake. First, be concerned about not losing large sums of money.
The most important rule is never treat betting as your main way of making money. Allocate for the game only those funds which are not critical to ensure a living, family, business.
Earn money on sports betting is possible. But it is quite possible to lose all your money.
All bookmakers thrive on the losses of their customers. But a certain number of players have a growth of money at a distance.
For whom sports betting is a profession
There are people who really make money from sports betting. First of all, these are bookmakers themselves and specialists who provide the functionality of betting in bookmaker offices. The basis of profit here is the bookmaker’s margin – the percentage of commission incorporated in each odds.
Guaranteed profits in the world of betting try to get the forks. They use arbitrage situations. It is possible to make opposite bets in different offices and stay in the black at any outcome. This is possible because of the difference in odds in different betting shops.
Forklickers use modern ways to find arbitrage situations: special scanners, software, thematic online resources.
But bookmakers sooner or later calculate such specialists. The bookmakers have many ways to deal with forklists:
blocking of accounts;
calculation of dubious bets at odds of 1.00.
Most betting companies are strict about identification of the identity and payment instruments of their customers. This, too, prevents the bettors from creating numerous accounts, bypassing blocking and limits.
Whereas professional whipmakers have narrowed earning opportunities, the cappers don’t have such problems. These are people who make money by trading sports forecasts. The more popular the bookmakers’ services are, the wider the audience of customers for cappers.
But in order to become a professional mouthpiece, you need to go through numerous stages of training:
Learn different gambling strategies;
To master effective techniques of analyzing events;
Test your skills over a long period of time;
Learn how to find customers and build a client base.
Mastering such professional skills and organizing a profitable business can take years.
To start earning from betting, minimize the risks
And if you are not a bookmaker, not a whisker and not a capper, is it realistic to make money from betting? To begin with, you need to do everything to protect yourself from ill-considered losses.
Study the rules and specifics of bookmakers. Knowing the nuances will help avoid unfortunate losses and make additional profits. For example, with bonuses.
Play in the betting shops that work honestly and pay out money to their customers.
Make sure you are able to control your excitement. It is realistic to make money from betting only if you are psychologically restrained.
Determine how much gambling bank you are willing to allocate for betting. On the one hand, this money should not be decisive for your personal or family budget. On the other hand, you will count profit or loss from this amount.
Study one or more sports. Choose tournaments, teams and athletes to bet on.
Bet on games about which you have the most information available.
Test your strategies virtually, without betting real money. You will get the necessary experience, analyze your mistakes and evaluate the effectiveness.
To start earning on bets, you need to systematize your game. Systematic thinking and self-discipline skill are necessary conditions for profitable betting.
Financial Strategies of Money Management
Profit in betting brings not luck or luck, but a strict approach to managing the game bank.
Follow financial strategy, otherwise you are likely to lose everything. In most cases, these strategies are recommended:
Flat – betting on a fixed amount.
Kelly criterion – the size of the bet depends on the probability of winning it.
Fixed profit – the bet amount is calculated taking into account the desired winnings.
Fixed percentage of the bank – irrespective of whether the size of the game bankroll increases or decreases, we put a predetermined percentage. For example, 1-5% of the total amount.
It is considered, that flat is better suited for conservative game, and Kelly criterion is effective when searching for valuable odds. But any financial strategy is effective only when combined with a quality analysis of sporting events.
If you want to make a long term profit from betting, do not use adventurous financial strategies. These include all kinds of “win-win add-ons”: Martingale, Fibonacci, Dalembert, the Danish system, etc.
Such schemes look nice only in theory. Promising a guaranteed profit, they lead to quick sinking of the bank or bookmaker penalties.
Gambling strategies, analysis of events, searching for winning bets
Most bets are made haphazardly, which leads to random winnings followed by losing money. To earn money, follow the chosen system strategy, which should include:
Choosing a sport that you are proficient in;
Orientation to one or several betting markets;
Selection of odds at a certain level. For example, about 2.00-3.50;
A specific type of bets – single, express, system.
Careful and qualitative prematch analysis of an event plays a special role in success. Beginners make the common mistake of betting on everything without studying the factors that influence the outcome.
Pick a few matches and do a detailed analysis. This will increase the odds of winning. For such a hard and tedious work you will spend the most time and effort.
When selecting matches, try to find so-called boulders. The point is to bet at inflated odds.
Find such an outcome, the probability of occurrence of which in the list of betting odds is clearly understated. But how to assess whether the bookmaker is really wrong?
This is where the forecaster’s analytical skill factor comes in. The ability to find jacking odds is a real art, which allows you to really make money on sports betting.
This skill depends on many abilities: expert knowledge about the sport, analytical thinking, intuition and so on.
Tips from “professionals” trading sports forecasts
Beginners are not ready to conduct professional prematch analysis and they want to make a profit right away. This desire is used to profit from numerous fraudsters: pseudo-cappers, doggers (selling information about match-fixing), “experts” in sports.
They work on social networks, messengers, specialized sites and forums. These scammers actively advertise their activities and promise a huge and fast earnings to all comers.
To use their services is to pay for air. Under no circumstances should you buy into the promises of such “specialists”.
Do the clients of the betting broker make money on bets and can you do it? Yes, it’s possible, but it requires the appropriate skills, training, effort and investment.
Are you ready for a systematic approach to self-education in this field? If you have a sufficient level of self-discipline and analytical thinking, you can become a successful sports prognosticator. Thanks to a wide range of bookmaker services it is possible to earn regular income.