How can I make money from sports betting ? This is the question that any punter asks sooner or later.
So what is the answer ? You’re not going to get a simple answer because there isn’t one.
Why ? Read and find out.
Even if gambling is, first of all, a form of entertainment, let’s be serious, most of those who start betting or gambling do it in the hope of getting rich overnight or for some extra money. No one’s scope is to lose, that’s clear. On the other hand, there are people who gamble only for fun, but they are very few. If you don’t care if you lose or win and don’t want to become a successful gambler in the future then you do not have to read on. But if you are one of those many people who really want to make money from sports bets, then listen carefully!
There are no get rich quick schemes or fixed matches tips sold on Facebook!
First, there is no get rich quick scheme that you can pick from any forum or site. Whoever claims that is clearly lying. If there had been such a scheme, then it would have already become famous among gamblers. Besides, bookmakers would have denied it because it would have wrecked their business.
There are no such things as “safe picks” – you know, those picks sold on the internet or on social networks for 10, 50 or 500 dollars. These are just SCAMS backed up by fake pictures or even videos to make them more credible, so it’s understandable why some beginners often fall for them. It’s sad that mature people who have gambled for years are still tricked by Facebook’s “King of Bets“, who have “safe picks” but not a penny in their pocket.
You can be one of the “lucky ones” ! Or maybe not !
There are two ways to get rich from bets, or at least to make an extra penny. The first is to place huge bets and hope you will get lucky. After all, you get to see fabulous winning odds daily. We have a section like that on our site. We post such bets because they are spectacular and worth showing, but we have never claimed and will not claim that they are the key to success. Of course, some lucky ones happen to win, but for every 10 winning bets, there may be other 5,000 that did not win.
Good odds, LIVE bets on your phone, rich offer
Lotto winners hit the headlines once in a while, and certainly, such cases deserve to be in the news. But the chances of you being the next millionaire are about 1 to 14 million. Betting is just the same thing. An accumulator bet poses many challenges, from having to get all the tips to the fact that the value in such a bet is extremely low due to the payout, which for a 10 – 20 match accumulator may reach up to 25% of the real bet value.
Get to work!
Are there people who live on sports betting? The answer is YES, such people exist, and for many of them, this has turned into a daily job. But the number of such people is very small. The difference is this: if you want to win an amazing bet you need luck, to become a professional punter depends entirely on you.
But it is not easy and it is not for anyone. A professional regards sports bets as a broker looks at the stock market, and in many ways these two environments are similar. However, it takes a lot of work, documentation, and patience to reach this level, and there is no guarantee that you will be profitable in the long run. But you will surely increase your chances.
And here’s the trick. Even if you fail to turn into a professional punter to live out of this, sticking to a clear plan will at least help you bet in an organised and responsible way. So money will not slip through your fingers anymore, the risks of becoming a betting addict will drop considerably, you will get more winning bets and all of this will bring long-term gains higher than before and will increase your chances of winning money instead of losing it.
HOW TO BECOME A GOOD PUNTER
Well, you got the idea, you have to bet like the pros, but how do they bet? Do they use a crystal ball looking for tips? Not really, but most of them have a common way to bet. We will not talk in detail about what to do, because it would mean writing a book. But we will briefly tell you about the basis of a correct way to bet.
1. Proper money management
Proper money management, what is it? First, you must have a betting budget for a week or a month. It must be a sum that you can afford to lose and which you should not exceed regardless of the situation. Then you need to know how much you bet and when. That means having a money management system. It can be an elementary one (you bet 5% of the bankroll and stick to this golden rule) or a more complex one.
For example, a system based on a strategy such as Kelly, Martingale, or Fibonacci (although only Kelly is recommended in the long run) or one where you bet between 2% and 10% depending on your confidence in the tip. It’s not a problem if your money management system is a primitive one, it is important that it is in place. If you stick to this system, you will not be doing all the stupid things like playing all-in when you think you’ve got a safe bet or increasing the stake to win your previously lost money quickly.
2. How are you going to bet?
Do you want to bet like a professional? Then start reading articles and tutorials.
Will you place live bets or just rely on pre-match bets? Or do you want to both? Every bet has advantages and disadvantages.
Professional punters only place single bets. Will you do that, or do you prefer multiple bets? We explained above why many matches are not a practical solution in the long run.
Want to use a betting strategy ? Very well, you need to find the strategy that suits you best.
3. How to choose your bets
Having a budget and a betting plan you will know at any time how much you bet. Then you have to choose the most suitable bets.
Here are 3 basic steps to follow:
- The first step is to focus on a particular sport and certain competitions and to have an analysis plan tailored to that situation.
- The second step is to analyse the matches you are interested in, to choose predictions that you think will turn out as expected, and to make a realistic calculation of the chance that the prediction will be a winning one (not counting odds, not at this step anyway)
- Then compare the odds offered by the bookmaker for that bet to the probability found by you that the bet will be a winning one, and only place those bets that you think are worthwhile from this point of view. Or in other words, place only value bets.
4. Stick to a set of rules and avoid the most common mistakes
It sounds nice: money management, value bets, correct match analysis, etc. But it’s worth nothing if after 3 losing bets you get angry and start betting mindlessly. Many punters lose their bets because they make many foolish mistakes, or because they are unable to follow a set of rules. The most important rules to follow and mistakes to avoid are:
- Stick to money management rules no matter what
- Do not bet more than you can afford to lose
- Have a realistic goal
- Never increase stakes
- Focus on single bets
- Bet only at the best online bookmakers
- Do not exaggerate! Addiction to gambling is a disease!
- Do not bet on predictions taken from different sites without analysing them first.
- Do not buy tips from unreliable sites!
- You can get inspired by our betting tips provided by ExtraTips specialists, but you bet at your own responsibility.
5. Learn from mistakes
Inevitably you will make mistakes, but it is important to analyse your bets and your way of betting and acting in difficult moments, to detect errors and fix them. Because otherwise you will always stay at the same level and will not be able to progress as a punter. You can even keep a betting log because it will be easier for you to keep stats of your bets.
In a nutshell – steps to make money from sports betting:
Study – Learn – Analyse – Stick to the basic rules – Learn from mistakes.
That’s how money is made from sports betting in the long run. It does not sound very fun, we know you would have preferred some magic tricks or safe bets, but unfortunately, they do not really exist. Or you will not have access to them too soon anyway. If you do not believe us then ignore the tips in this article and tell us in a year if you’ve got the “safe” tips on Facebook to buy your dream car or some crystal palace. The sad truth is that 93% of the punters who bet constantly have a negative balance at the end of a calendar year, do you think you have what it takes to be one of the 7%?