How to make money on bets: on sports + at a bookmaker + TOP ways
Sports broadcasts are not only an opportunity to spend time with interest. It is also an opportunity to learn how to make money on bets. Today, there are a huge number of bookmakers offering their services to those who want to guess the results of sporting events and earn income from it.
Among the players there are those for whom making money on bets is not just a hobby, but a job. Handicappers professionally evaluate the probability of a particular outcome and are well versed in the mathematical side of sports betting.
In this article, we will look at how to make money on bets and what you need for this. You will learn about choosing a bookmaker as well as some of the strategies that get you started in the world of sports betting.
How to make money at a bookmaker – Choosing a bookmaker
The most important criterion is the reliability of the betting company. Without this, everything else does not matter, because if the office does not allow, for example, to withdraw funds, it is pointless to play in it. To check the reliability, it is recommended to read the reviews and various ratings.
Users usually leave their opinion about working with a particular bookmaker. It is advisable to study detailed responses, from which you can get information on various aspects of working with the company.
Before opening an account, check the availability of a license for the relevant activity. Usually such information is provided on websites. Also in the public domain there are links to regulatory bodies, where you can always check the authenticity of documents.
In addition to reliability, in order to find out whether it is possible to make money on bets in a particular company, you should refer to its tools. The better the bookmaker, the wider the line of bets, lists and odds. Moreover, in modern realities, you can find bets not only on sports, but also on political events and even e-sports.
Other criteria for choosing a bookmaker
How to make money on bets? This requires money. Today, top bookmakers offer a wide range of deposit and withdrawal methods. Among them are not only electronic payment systems, but also bank cards and even cryptocurrencies.
Before opening an account, a potential client of one or another bookmaker should also pay attention to commissions. It is recommended to conduct a comparative analysis of the environments of several selected offices and choose the best option for yourself.
In addition to replenishment methods, it is recommended to pay attention to the functionality and availability of bonuses. Today, most companies in this sector offer mobile applications and website versions for maximum user experience. This allows you to place bets from anywhere in the world as long as you have access to the Internet.
Bonuses and promotions are a nice addition to the amount you deposit with a bookmaker. But before accepting them, carefully read the conditions of working out. They are everywhere and differ among themselves in the turnover that must be completed before the first withdrawal of funds.
How to make money on bets — Types of odds
In order to understand how to make money on bets on any sport, you need to decide on such an aspect as odds. There are three main types:
English odds are written as a fractional number, such as 30/5. This means that for five units of currency invested in a bet, you will receive 30 units of currency as a win (minus the amount of the bet).
European odds appeared later than English ones at a time when betting companies from Foggy Albion began to gradually spread to the European continent. Moreover, they abandoned the English coefficient, considering it rather difficult to calculate. Instead, they offered their own version, which today can be found in most bookmakers in the world.
The European coefficient is written as a decimal number, such as 3.0, 2.3, and so on. Moreover, the calculation on it is very simple to do. To do this, you need to multiply the size of the bet by the coefficient. For example, if it is equal to 3.0, and we bet 1000 🪙, in the end, the winnings will be 3000 🪙.
The Americans have gone much further, as their coefficients are the most complex in terms of perception and calculation. A distinctive feature is the presence of "+" and "-" signs in front of the number. Let’s consider a simple example. If odds of -110 are set for an event, then to get $100 of winnings, you will need to bet $110.
With a positive coefficient, everything is calculated in reverse. If it is +110, then you need to bet $100 to get $110.
How to make money on bets – What is the benefit of a bookmaker
In order to remain profitable, the bookmaker must earn. Otherwise, there may come a time when such a company simply does not have the funds for further activities. Funds already deposited for the game may be at risk.
The betting business is profitable, but only when the company correctly calculates the odds. For each event, the bookmaker lays down a certain margin for himself, which he takes regardless of what result the players bet on. How does this happen?
Suppose an event is taken with two teams of equal strength. In this case, the odds for the victory of both could be 2.0 and 2.0. But the real odds will be 1.95 and 1.95, since five points on each side is the bookmaker’s margin for his services.
Another source of income for the bookmaker is adjusting the odds. If the majority of players bet on a certain outcome, the odds for that result are reduced.
How to make money on betting — Event selection
One of the most important strategies in the world of betting is choosing the right event and sport. Modern offices offer a wide range of activities, for example:
- traditional football
- and even esports.
But such a choice does not mean that you need to bet on everything. It is advisable to bet only on those sports that you understand. And not superficial. After all, before you make a decision, you have to analyze.
Although today there are many sites with predictions for upcoming sports events, it is advisable to learn how to make independent decisions.
The ability to understand all the nuances of the chosen sport is one of the key points in sports betting. Consider football. There are two famous teams. But in one of them, on the eve of the match, a key offensive player is seriously injured in training. If you don’t take this into account in your analysis, there is a chance of losing. And this applies to any other sport.
Types of bets
After you have decided on a particular sport, you can place bets. There are several types, and below we will consider each of them in more detail:
- Ordinar. This is the simplest bet on some event. This type of betting is popular because of its simplicity. Ordinary can be called a bet on the victory of Bavaria over Legia, for example.
- Double Chance. This is a bet on two out of three possible outcomes. You can, for example, bet on the victory of Bavaria or on a draw. Either bet on Legia to win or draw. Also, with Double Chance, it is possible to bet on the victory of any of the teams. This doubles the chances of winning.
- Handicap or Handicap. A more complex type of betting. Here one of the teams gets a head start. For example, to equalize the chances, the bookmaker offers to bet on the result, as if Legia had already led 1:0, for example.
- Asian Handicap. Unlike the standard handicap, here the opponent receives not 1 point, but part of it, for example, 0.25. Thanks to this approach, betters have more room to maneuver and betting becomes even more interesting.
- Total. This type of betting involves players guessing whether more or less goals will be scored than the figure set by the bookmakers. For example, with a total of 2.5, more than two goals must be scored by both teams in total.
- Express. At its core, the same ordinary, only for a few events. The bet will play only if the player correctly determines all the results of the accumulator. Express trains can include several sports at the same time.
- Systems. These are more complex parlays, in which you can independently choose a system with a certain number of predicted results.
In addition to those listed, there are also many other interesting types of betting. These include bets on the score, on a separate half, on the name of the author of the goal, on the first minutes of the match, and so on.
How to Make Money Betting – Sports Betting Strategies
Do you want to know how to make money in a bookmaker? Then you need a strategy. The fact is that betting is not just a game. It’s also an analysis. It has already been said above about professional players who make their living doing just that. And they use different strategies in their practice.
The easiest option is to bet on a clear leader against an underdog. However, this approach has a significant drawback. It lies in the size of the coefficient. In the match Spartak Moscow-Slavia Mozyr, the result is easy to predict. But the size of the coefficient in this case will be negligible.
Therefore, the only option here is to deposit a large amount and take in volumes. But what if you don’t expect to play for big money? Then you should look for other options.
There is a huge list of different systems that allow, with the right approach, to receive certain incomes. The most famous and widespread is martingale. The essence of the system is that every time you lose, you double your bet until you win. A feature of martingale for betting is that the size of the coefficient must be at least two.
With this strategy, you need to bet on events in which you are confident. Although sensations in the world of sports happen, it is better to play it safe once again.
Another rather interesting strategy is the tank attack. It involves the distribution of its funds in several directions with further pumping. For example, three events are selected – Spartak’s victory in the match with Saturn, Messi’s goal in the match against Celta, a draw between Bayern and Borussia. Moreover, the funds between each "tank" are distributed evenly.
In the world of financial trading, this strategy is called "diversification". This is a fairly popular money and risk management tool. If one of the events refuses to be a loser, the profit on the others compensates for the loss. It is important to remember that the coefficients for all three "tanks" should be approximately the same.
Financial management strategies are another important point for any professional bettor. If you want to count on something more than just playing and satisfying your passion, you will have to think about money management.
There are many such strategies. The most conservative ones propose to determine the size of each bet no more than 1% of the total amount of gaming funds. In this case, you will be able to play more flexibly and diversify your bets.
How to make money on bets – bookmaker arbitrage and corridor
All these are varieties of strategies, using the difference in odds between bookmakers. To work on such systems, it is necessary to register in different offices and look for situations where different odds are given for the same event.
In this case, the possibility of obtaining a win increases many times over. The only caveat is that bookmakers do not like such arbitrageurs and try to get rid of them.
The corridor is similar in principle to arbitrage, only this time it is necessary to look for a range in handicaps and total. If the player is lucky, both bets will play and you can get a good profit. In case of a negative result, the player does not risk anything.
A few tips for beginners
And now we offer some important recommendations for those who want to turn their earnings on sports betting into something more than just pleasure and excitement. To begin with, let’s analyze the typical mistakes of betters:
- Betting on high odds events. Matches of top teams always attract attention. Therefore, the clear leader ratio rarely rises above 1.5 in a normal situation. If it suddenly grows to 2.0, expect a catch. The fact is that in bookmakers the odds are calculated by professionals. This means that if they place a high enough odds on the leader, something has happened. Perhaps an injury or other trouble that can spoil the game and lead to an unexpected defeat even from an outsider.
- Emotions. In any case, emotions are a bad adviser. In betting, excitement, greed, euphoria or fear lead to a negative result. It doesn’t matter if you had a series of profitable bets or vice versa. The important thing is that you should stop yourself every time and ask yourself if the decision is really being made or if it is dictated by your emotions.
- When the desire to play prevails over common sense. If you are not sure about the results of the analysis or did not have time to fully calculate the situation, it is better to refuse the bet. When predicting, you need to take into account the composition of the team, its opponent, statistics, coaches, and so on. All these factors must be analyzed and only then decisions should be made.
- Do not place all bets only on low odds. Sometimes bettors prefer the result without risk. They choose only leaders and bet on them in the hope that they will not let you down. But in sports there are sensations. Hockey fans remember the sensation Belarusians created in Salt Lake City when they closed the door to medals for the Swedes in the quarterfinals.
And now a few important recommendations for beginner betters. Don’t spend all your money on one bet. Properly distribute them between different events so that you always have something left in stock. Even if you are sure that the bet will play, this approach may soon lead to the lowering of your deposit.
Analyze as much information as possible
Try to analyze as much information as possible. Especially when there are clear signals (for example, an increase in the odds by a bookmaker for a top team). If this happens, then there is some kind of trick here. Try to follow the bookmaker, and not try to be smarter than his analytical department.
All information about the upcoming match can always be found on the Internet. Sports publications are literally full of various headlines. A lot of interesting and useful information can be found on the official resources of the teams.
Remember that the more work you do before the game, the higher your chances of success. If you are going to make betting one of your sources of income, take it seriously.
Rely only on your knowledge
Always work from your own analysis. You can find many forecasters on the Internet. This is not to say that they are bad at their job. But if you want to make money on sports betting something more than just a pleasure, you will have to learn how to do the analysis yourself.
Avoid so-called match-fixing. On the Internet, you can find offers to sell information on such events. There are a couple of nuances:
- First, match-fixing is only possible in the lower leagues. It will be extremely difficult to make money there. Major league players will never get involved with this practice.
- Secondly, if the bookmaker suspects a fixed match, the bet will not win.
- Finally, such information, even if it were, would hardly be sold on the Internet.
Choose your sport wisely
Work only with the sport that you understand. Yes, today bookmakers offer a large number of events from different countries and leagues. But this does not mean that you can easily make money on any of them.
If you just looked through the Formula 1 stages a couple of times and do not know anything about the driving style of the pilots, the number of pit stops, the tires chosen, the weather conditions in a particular region, it is better to choose another sport.
If you have chosen football, for example, you need to know everything about the upcoming match, including the expected starting lineups, refereeing team, expected weather conditions, and so on. Moreover, this information is not static. Any changes are possible before the match, so they must also be taken into account when betting.
Control yourself in any situation
It doesn’t matter how you played before. Each new bet is a new work on oneself. Try not to succumb to euphoria or panic, do not try to immediately win back in case of defeat.
The best option is to rest for a while and then start analyzing again.
Use bonuses wisely, do not neglect discounts
Bonuses are an opportunity to increase your potential. Your account is credited with a certain amount that you can use. Bonuses are useful, but it’s important to know what the conditions for them are. Most bookmakers require bonuses to be worked out in multiples. That is, you need to make a lot of bets before you can withdraw money.
If you are not going to play often, you may not need bonuses either. It is better to pay attention to other interesting offers. For example, regular players are offered discounts. Here it is also recommended to study their conditions and, if they are favorable, agree.
Pay close attention to non-sporting events
Elections, weather forecasts and even financial instruments are also included in the arsenal of many modern bookmakers. But do not think that working with them is easy. Sometimes it’s easier to bet on a sporting event that you’re really, really good at.
As for financial instruments, not all experienced investors are always successful in the markets. Many traders lose their capital by making the wrong decision. In order to profit from such betting, you must at least be at the level of bank analysts.
In this article, we looked at how to make money with sports betting. Of course, after reading it, you will not become betting professionals. For this you need practice. But with the information you’ve learned here, you can avoid the common mistakes newbies make and make your path to success less bumpy.