- How To Do Sports Betting
- How To Make Money Off Sports Betting
- How To Make A Living Off Sports Betting Odds
- Make A Living Off Sports Betting Reddit
Have heard many people asking the question: is it possible to live on sports betting? And more often than not, they keep getting told that it is not possible, and at best, they can only make money off sports betting once in a while.
But we beg to differ. And for good reasons.
In case you haven't noticed, some live on the income they get from sports betting. Yes, sports betting is not for the fainthearted, and nothing is guaranteed. But with a well-devised plan and playing strategies, some people have been able to win consistently, and up to a level where they live off sports betting.
- Turn Sports Betting into your Career. If you look at the money that sports bettors commit to wagers each year, it's hard not to wonder, 'Can you make a living off of sports betting?' In 2019, in the United States alone, sports bettors spent $13 billion on legal wagers. That does not include, of course, money spent under the table in such casual events as the 'March Madness' men's.
- Matched Betting. Matched betting is a type of betting whereby players take advantage of the free bets & promos advertised on betting sites. For punters looking to make a living off sports betting, this is the first step in the right direction.
Ask the Experts: Direct from the WagerTalk TV Studios in Las Vegas, WagerTalk.com's Kelly Stewart talks with Sports Betting Expert Teddy Covers as they cover. If you want to make a living off gambling, I think poker is the only one that's remotely reasonable. If you're god-tier at sports betting you have the aptitude to become an excellent poker player, so once you learn that you can even be a solid but by no means great player and make more than being a god tier sports bettor.
But please mark those words - 'well-devised plan and playing strategies.' I know you probably have heard about playing with strategies before, but how often and how accurately have you been using strategies?
Best texas holdem app. Whenever you remember to or every time you play? In a given order or haphazardly? Well, for most punters, I guess we all know what the answers to those are - they use strategies once in a while, and even when they do, they do it haphazardly.
But that's got to change. Here are the best betting strategies you need to adopt and in the given order if you want to make money off sports betting in 2020.
Matched Betting
Matched betting is a type of betting whereby players take advantage of the free bets & promos advertised on betting sites. For punters looking to make a living off sports betting, this is the first step in the right direction.
With matched betting, you'll be playing a mathematically risk-free bets that include promos, bonus offers, free bets, and refund options. And before you begin to ask where you can find a matched betting opportunity, please note that they can be found on all betting sites.
It is advisable to start your sports betting journey with match betting because most of these enticing offers are usually made available to new customers. For example, you may find an advert on a sports betting website that says 'bet $30 with us, and we'll give you a $30 free bet!'
Offers like these are quite common, and you'll always find them lying around on different betting sites like http://www.ibet44id.org. The only question is, how many betting websites are you willing to try? Nobody is going to stop or question you for using as many as you like, so I guess you need to take advantage of this opportunity as much as you can.
Arbitrage betting
Following on from the step above, the next line of action is now for you to begin to arb. What's arbing? You may wonder. Football games for kids. Well, arbing is the process whereby a player arbs sports betting sites by covering all outcomes of an event, in order to profit from the difference in their odds.
What this means is that a player will bet on an outcome of a given match on a sports betting site and will bet against this same outcome on another site, provided there is a glaring difference in the odds offered by the two sites.
However, it should be noted that arbing opportunities don't come around too often, and although you can find them in virtually all sports, including football, tennis, horse racing, etc., they don't stay up for too long. Once a bookie spots that their odds differ from what the rest of the market is offering, they'll quickly adjust theirs.
But in order to stay ahead of them and to guarantee that you're always on hand to take advantage of an arbing opportunity, you can use some popular arb finders like Bet Burger, Rebelbetting, Oddstorm, and Oddsmoney.
Value betting
By now, you should have built up a bankroll from the risk-free methods of matched betting and arbitrage betting. Now it is time to start using that money you've earned from those risk-free approaches to make some calculated risks and earn even more money.
In value betting, players look for those games where the odds suggest that the selection isn't as likely to win as it really is. By picking value odds, the 'edge' is in the player's favor.
To find a value bet, you just need to look at the games available for that day (across different leagues, countries, and competitions) and assess the probability of an outcome as more likely to occur than the probability implied by the bookmaker's odds; it is a value bet.
For example, let's say in a game involving Manchester United, the bookmakers have decided to give Manchester United a 2.50 odd to win against Real Madrid. In percentage terms, this would mean that Man United have a 40% chance of winning the game.
Now let's say you have done your own assessment and research through the respective teams form guide, history, weather forecast, injuries, and lots more, and you've concluded that United have a better chance than the bookies are giving them. In fact, you feel as though the game should be a 50-50 one, with United boasting a 50% shot. Provided your assessment is right; this is a value situation, one that can earn you some cool cash.
But, of course, it carries a significant risk, which is 'whether or not your assessment is right.'
This is the first out of a three-part article series, which purpose is to investigate how one can make money from sports betting and the requirements of making a living from it.
Part 1: Having realistic expectations AND Different ways to make money from betting
Setting realistic expectations
If you already feel like skipping this part you are the type that would benefit the most from reading it.
First off, it is important to have realistic expectations.
As with anything in life, making money from sports betting requires time and effort.
And those looking for a get-rich-quick solution or minimal work are setting themselves up for disappointment.
Whether you have a job or are a student, things like this start as a side project.
Most of the people who work for Trademate are building their bankroll on the evenings and weekends, while working on Trademate during the daytime.
Whether you are studying, working a 9-5 job or making a living from playing poker, we think this approach makes a lot of sense.
It happens to be very compatible with value betting since that is when the majority of games are played anyway, and thus when the edges occur.
If you don't need the money from betting to cover living expenses, it also reduces your risk as you have more legs to stand on financially.
It also enables you to reinvest any profits you make and keep building your bankroll. This, in turn, increases your turnover and potential profits.
You can keep doing it this way until you reach a point where it makes economic sense to do it full time.
Different ways to make money from sports betting
There are 2 main ways to make a living from sports betting:
The first is being able to pick winners. Which is what 99% of all tipsters and bettors out there are trying to do, and of which probably 98.9% are failing at.
To do this successfully, you would need to specialise in a market, preferably a niche market, where the bookmakers do not have the same level of information and knowledge as you, or where they can not interpret it as well.
If you want to try and create your own odds models, this article can help you get started.
The second way is to find value in the odds. Finding value can again be split into three groups: 1) Matched betting, 2) Arbitrage betting and 3) Value betting.
These can be ranked based on their potential risk and reward. The pros and cons of them are discussed in this article.
Also this guest post examines the pros and cons of arbitrage betting vs value betting.
At Trademate we are all about value betting as this gives the highest potential return of the 3 ways to make money.
The downside of value betting is that the risk is higher than for arbitrage and matched betting. This is because you only bet on one side of the game, the variance is higher. These articles and video explain variance.
Let's use an example: If one takes a bet with 2.0 in odds, one can only expect to win 50% of the time. In the short run, anything can happen, e.g. losing 10 coin tosses in a row.
But over a large sample size, let's say 10,000 tosses, the distribution of the number of heads and tails will be pretty much spot on 50/50 (the theory behind it is explained in this article and our big data analysis has shown that it has worked very well in practice for the Trademate users).
In practice, the potentially high variance nature of value betting, means that one needs to be prepared to place hundreds of bets, maybe thousands depending on the average closing edge and odds before one can expect the variance to even out.
One thing they all have in common is that they have hit bad swings, but made it through them.
We have had users who were breakeven at 1,500 bets, before they hit a good run and their profits soared up and past their EV line (expected value).
How to count cards in blackjack gta 5. Before you start you should make sure that you understand the underlying principles of value betting, mainly exploiting market inefficiencies in our case.
It is not for everyone and if you decide that it is not for you, then that is ok. But then you will not be making a living from betting anytime soon.
Next, one needs to have the patience and discipline to stick with it, through both the upswings and downswings.
Reducing variance in value betting
There are steps you can take to reduce the variance in value betting, such as placing on lower odds, only placing one trade per game, placing trades close to kick-off, using a proportional staking strategy such as the Kelly Criterion and limiting it to 30% of the Kelly.
Also, one should apply a max stake size. We recommend operating with 1-2% of your overall bankroll. It is possible to set it higher and also to use a higher Kelly percentage if one wants to take more risk and increase the turnover.
Bookmakers limit winning players and how to increase your lifetime value
Whether it being matched betting, arbitrage betting or value betting, the soft books do not like winning players.
To stop players from winning, bookmakers will impose stake sizing limits on them.
Without getting a solid turnover, making money from either option becomes really difficult.
How To Do Sports Betting
How long it takes varies from bookie to bookie. There are also internal differences at the bookies.
All of this does not mean that it is not possible to extract good value from them first though!
Also, there are steps one can take to make the accounts last longer before they get limited and thus increase the lifetime value of the soft bookmakers.
A topic we have covered in multiple articles, such as:
Article: How to stay under the radar and avoid bookmaker limitations
Article: How bookmakers track your every move and how to get around it.
Article: How bookmakers profile winning players
At Trademate we are currently supporting 100+ soft bookmakers. Playing through all of them should take some time.
Also, because we have so many different bookmakers and also trades to choose from, the number of people who pick the same trade is not particularly high and thus each individual account lasts longer.
We also switch out a couple of bookies every few months to keep things fresh and have added 10 new bookies this year. So our overall value offered is constantly increasing.
Sports trading
Finally, what about sports trading? Traditional trading involves buying and selling assets. Sports trading involves either placing a value bet, an arbitrage or hedging a bet.
Hedging a bet is basically to turn a value bet into an arbitrage bet. The difference between arbing and hedging is that when hedging, the bets are not necessarily placed at the same time.
Ask the Experts: Direct from the WagerTalk TV Studios in Las Vegas, WagerTalk.com's Kelly Stewart talks with Sports Betting Expert Teddy Covers as they cover. If you want to make a living off gambling, I think poker is the only one that's remotely reasonable. If you're god-tier at sports betting you have the aptitude to become an excellent poker player, so once you learn that you can even be a solid but by no means great player and make more than being a god tier sports bettor.
But please mark those words - 'well-devised plan and playing strategies.' I know you probably have heard about playing with strategies before, but how often and how accurately have you been using strategies?
Best texas holdem app. Whenever you remember to or every time you play? In a given order or haphazardly? Well, for most punters, I guess we all know what the answers to those are - they use strategies once in a while, and even when they do, they do it haphazardly.
But that's got to change. Here are the best betting strategies you need to adopt and in the given order if you want to make money off sports betting in 2020.
Matched Betting
Matched betting is a type of betting whereby players take advantage of the free bets & promos advertised on betting sites. For punters looking to make a living off sports betting, this is the first step in the right direction.
With matched betting, you'll be playing a mathematically risk-free bets that include promos, bonus offers, free bets, and refund options. And before you begin to ask where you can find a matched betting opportunity, please note that they can be found on all betting sites.
It is advisable to start your sports betting journey with match betting because most of these enticing offers are usually made available to new customers. For example, you may find an advert on a sports betting website that says 'bet $30 with us, and we'll give you a $30 free bet!'
Offers like these are quite common, and you'll always find them lying around on different betting sites like http://www.ibet44id.org. The only question is, how many betting websites are you willing to try? Nobody is going to stop or question you for using as many as you like, so I guess you need to take advantage of this opportunity as much as you can.
Arbitrage betting
Following on from the step above, the next line of action is now for you to begin to arb. What's arbing? You may wonder. Football games for kids. Well, arbing is the process whereby a player arbs sports betting sites by covering all outcomes of an event, in order to profit from the difference in their odds.
What this means is that a player will bet on an outcome of a given match on a sports betting site and will bet against this same outcome on another site, provided there is a glaring difference in the odds offered by the two sites.
However, it should be noted that arbing opportunities don't come around too often, and although you can find them in virtually all sports, including football, tennis, horse racing, etc., they don't stay up for too long. Once a bookie spots that their odds differ from what the rest of the market is offering, they'll quickly adjust theirs.
But in order to stay ahead of them and to guarantee that you're always on hand to take advantage of an arbing opportunity, you can use some popular arb finders like Bet Burger, Rebelbetting, Oddstorm, and Oddsmoney.
Value betting
By now, you should have built up a bankroll from the risk-free methods of matched betting and arbitrage betting. Now it is time to start using that money you've earned from those risk-free approaches to make some calculated risks and earn even more money.
In value betting, players look for those games where the odds suggest that the selection isn't as likely to win as it really is. By picking value odds, the 'edge' is in the player's favor.
To find a value bet, you just need to look at the games available for that day (across different leagues, countries, and competitions) and assess the probability of an outcome as more likely to occur than the probability implied by the bookmaker's odds; it is a value bet.
For example, let's say in a game involving Manchester United, the bookmakers have decided to give Manchester United a 2.50 odd to win against Real Madrid. In percentage terms, this would mean that Man United have a 40% chance of winning the game.
Now let's say you have done your own assessment and research through the respective teams form guide, history, weather forecast, injuries, and lots more, and you've concluded that United have a better chance than the bookies are giving them. In fact, you feel as though the game should be a 50-50 one, with United boasting a 50% shot. Provided your assessment is right; this is a value situation, one that can earn you some cool cash.
But, of course, it carries a significant risk, which is 'whether or not your assessment is right.'
This is the first out of a three-part article series, which purpose is to investigate how one can make money from sports betting and the requirements of making a living from it.
Part 1: Having realistic expectations AND Different ways to make money from betting
Setting realistic expectations
If you already feel like skipping this part you are the type that would benefit the most from reading it.
First off, it is important to have realistic expectations.
As with anything in life, making money from sports betting requires time and effort.
And those looking for a get-rich-quick solution or minimal work are setting themselves up for disappointment.
Whether you have a job or are a student, things like this start as a side project.
Most of the people who work for Trademate are building their bankroll on the evenings and weekends, while working on Trademate during the daytime.
Whether you are studying, working a 9-5 job or making a living from playing poker, we think this approach makes a lot of sense.
It happens to be very compatible with value betting since that is when the majority of games are played anyway, and thus when the edges occur.
If you don't need the money from betting to cover living expenses, it also reduces your risk as you have more legs to stand on financially.
It also enables you to reinvest any profits you make and keep building your bankroll. This, in turn, increases your turnover and potential profits.
You can keep doing it this way until you reach a point where it makes economic sense to do it full time.
Different ways to make money from sports betting
There are 2 main ways to make a living from sports betting:
The first is being able to pick winners. Which is what 99% of all tipsters and bettors out there are trying to do, and of which probably 98.9% are failing at.
To do this successfully, you would need to specialise in a market, preferably a niche market, where the bookmakers do not have the same level of information and knowledge as you, or where they can not interpret it as well.
If you want to try and create your own odds models, this article can help you get started.
The second way is to find value in the odds. Finding value can again be split into three groups: 1) Matched betting, 2) Arbitrage betting and 3) Value betting.
These can be ranked based on their potential risk and reward. The pros and cons of them are discussed in this article.
Also this guest post examines the pros and cons of arbitrage betting vs value betting.
At Trademate we are all about value betting as this gives the highest potential return of the 3 ways to make money.
The downside of value betting is that the risk is higher than for arbitrage and matched betting. This is because you only bet on one side of the game, the variance is higher. These articles and video explain variance.
Let's use an example: If one takes a bet with 2.0 in odds, one can only expect to win 50% of the time. In the short run, anything can happen, e.g. losing 10 coin tosses in a row.
But over a large sample size, let's say 10,000 tosses, the distribution of the number of heads and tails will be pretty much spot on 50/50 (the theory behind it is explained in this article and our big data analysis has shown that it has worked very well in practice for the Trademate users).
In practice, the potentially high variance nature of value betting, means that one needs to be prepared to place hundreds of bets, maybe thousands depending on the average closing edge and odds before one can expect the variance to even out.
One thing they all have in common is that they have hit bad swings, but made it through them.
We have had users who were breakeven at 1,500 bets, before they hit a good run and their profits soared up and past their EV line (expected value).
How to count cards in blackjack gta 5. Before you start you should make sure that you understand the underlying principles of value betting, mainly exploiting market inefficiencies in our case.
It is not for everyone and if you decide that it is not for you, then that is ok. But then you will not be making a living from betting anytime soon.
Next, one needs to have the patience and discipline to stick with it, through both the upswings and downswings.
Reducing variance in value betting
There are steps you can take to reduce the variance in value betting, such as placing on lower odds, only placing one trade per game, placing trades close to kick-off, using a proportional staking strategy such as the Kelly Criterion and limiting it to 30% of the Kelly.
Also, one should apply a max stake size. We recommend operating with 1-2% of your overall bankroll. It is possible to set it higher and also to use a higher Kelly percentage if one wants to take more risk and increase the turnover.
Bookmakers limit winning players and how to increase your lifetime value
Whether it being matched betting, arbitrage betting or value betting, the soft books do not like winning players.
To stop players from winning, bookmakers will impose stake sizing limits on them.
Without getting a solid turnover, making money from either option becomes really difficult.
How To Do Sports Betting
How long it takes varies from bookie to bookie. There are also internal differences at the bookies.
All of this does not mean that it is not possible to extract good value from them first though!
Also, there are steps one can take to make the accounts last longer before they get limited and thus increase the lifetime value of the soft bookmakers.
A topic we have covered in multiple articles, such as:
Article: How to stay under the radar and avoid bookmaker limitations
Article: How bookmakers track your every move and how to get around it.
Article: How bookmakers profile winning players
At Trademate we are currently supporting 100+ soft bookmakers. Playing through all of them should take some time.
Also, because we have so many different bookmakers and also trades to choose from, the number of people who pick the same trade is not particularly high and thus each individual account lasts longer.
We also switch out a couple of bookies every few months to keep things fresh and have added 10 new bookies this year. So our overall value offered is constantly increasing.
Sports trading
Finally, what about sports trading? Traditional trading involves buying and selling assets. Sports trading involves either placing a value bet, an arbitrage or hedging a bet.
Hedging a bet is basically to turn a value bet into an arbitrage bet. The difference between arbing and hedging is that when hedging, the bets are not necessarily placed at the same time.
How To Make Money Off Sports Betting
For example in an arbitrage you place a bet on the home, draw and away within a short period of time, e.g. 1 minute. When hedging you would first place a value bet on e.g. the home team to win.
Then you can turn it into a sure win or a sure loss by taking a bet on both the draw + away team, or an Asian Handicap bet at a later point in time.
How To Make A Living Off Sports Betting Odds
Hedging enables you to reduce your risk, but it also reduces the potential profit. We have covered the topic of hedging a bet in this article.
Ready for Part 2?
Make A Living Off Sports Betting Reddit
In the second part of the article series, we will have put some numbers on the different input factors that affect potential earnings and run some simulations.
