How to Earn a Living Betting On Sports
You have most likely heard several things about online sports betting, one of them being “there is no way you can beat the online bookies.” Nonetheless, it is fair to state that sports betting and any other type of online gambling might be damaging to your betting bankroll if you approach online betting without some kind of strategy.
There are proven methods used to consistently make money from online sports betting. All you have to do is show your willingness to learn and apply the newly learned techniques when you start betting online. This requires you to invest your effort and time.
Here are some proven techniques that professionals implement to make a living from online sports betting.
Professional traders usually develop their unique strategies and earn the living from these approaches from the betting site. However, it is important to take note of the fact that becoming a successful sports trade is not easy mainly because the betting industry is highly efficient and competitive.
The betting exchanges usually work as the financial markets and most of the same approaches apply to both of them. The only difference is the fact that most of the sports traders usually try to find short term price movements. The most active markets are for upcoming matches.
How Sports Trade Work?
Different strategies may be implemented in sports trading, but it is only one basic principle that can prevail: “lay low, back high”. This is the process that allows some traders to maximize their profits.
You can use the hedge calculator to determine what back/lay bet is needed to guarantee some profit from a change in the winning odds.
Different reasons make odds fluctuate in these exchanges. For example, pre-match volleyball odds shift due to rumors of teams changing their lineups or injuries. The most substantial in play price movements usually happen after major fixture events such as penalties, red cards, and goals.
Mastering the art of sports trading lies in being able to detect when the odds are just about to shift and understand how long you should hold on to your current position. Your prediction technique is the one that determines your upcoming move.
Sports trading is not easy to master and technological advancements usually play a major role in helping traders build automated strategies. We recommend that you start slowly before you get into bigger stakes so that you can reduce your chances of losing.
Value betting revolves around choosing outcomes with the greatest chances of winning than what the odds suggest. Nevertheless, with a proven selection technique, over different stakes, the bettor is expected to earn profits.
How much you make betting on sports is majorly based on what you have in your bankroll and whether you can find a reliable betting site.
One important thing that average bettors do not acknowledge is that every result in sports betting has the real chance of occurring. Finding these probabilities and finding the most inflated odds in the betting market is crucial to change the house edge so it can be in your favor.
How Do Value Bets Work?
For example, if the probability for an Arsenal vs. Man United game is as shown below:
- Away wins – 50%
- Home win – 30%
- Draw – 20%
As you can see, the total of the probabilities is 100%. This is very crucial.
You also need to consider the fact that any of the above results has a value. What is more likely to occur doesn’t matter. It all revolves around the odds on offer.
Therefore, assuming that the bookie offers a 2.20 price range for Manchester United to win.
Considering that the chance of man united winning is 50%, we presume that 2.20 for Manchester United is the value bet. This is what is referred to as betting with the positive EV (Expected value).
Accuracy is the only major challenge when it comes to value betting. It is only those bettors willing to invest both effort and time into devising a functional statistical betting system that can use this method to maximize their profits in the long run.
Possible earnings – $0 to $200,000 p/y.
This is a very simple method that is commonly used to make profits from promotions and free bets that are offered by online bookies. This is a risk-free method which is based on the use of very simple equations instead of chance.
Any punter can easily become a matched gambler, regardless of how much they know regarding online sports betting. It is very easy and one of the quickest ways to start betting after you have reached 18 years. This means you can easily income from home if you choose to start betting online.
The final legit way of earning a living betting on your favorite sports is arbitrage gambling. The arbitrage betting is when a bettor places multiple stakes, covering every outcome of the sporting event so they can secure some profit no matter the outcome of the game. Arbitrage bets may be placed utilizing multiple bookies or/and betting exchanges.
The arbitrage process shares some similarities with matched betting. Nevertheless, the biggest difference lies in the fact that arbitrage is dependent upon the misaligned odds so you can have an added advantage whereas matched betting relies entirely on promos.
How Does Arbitrage Work?
The simplest kind of online sports arbitrage is when a betting exchange lays out the odds which are less than the odds offered by the bookie.
Imagine a bookie offers about 7.0 for Chelsea to beat man city away in the English premier league, whereas the betting exchange lays out the odds at 6.0 for the same fixture. This is the kind of misalignment that creates an arbitrage since the bettor has the chance to secure the risk-free profit.
The secret to making money betting on sports online is making sure that you spend time perfecting your betting strategy if you want to maximize your chance of winning.