- Can you make money betting on sports?
- Be careful if you want to make money betting on sports
- Balancing risk against reward
- Bankroll management
- Is the 1.01 betting strategy worth it?
- A quick look at expected value betting
- Why matched betting won’t work in the US just yet
- Why responsible gambling is the best way to go
- Conclusion - What to do once you know how to make money sports betting
- How to make money sports betting FAQ
Can you make money betting on sports?
Yes, and people do it all of the time. Whether you’re backing the Mets in the MLB, the 76ers in the NBA, the Penguins in the NHL or the Saints in the NFL, you’ll find that it’s pretty easy to win a bet and make money.
After all, the whole premise of why sportsbooks exist is to give you a chance of winning money by backing something to happen in a sporting encounter. But while anyone can get lucky every now and then, it’s a little more tricky to make consistent wins from sports betting.
Be careful if you want to make money betting on sports
The internet is packed with guides that aim to show you how to make money betting on sports. Unfortunately, most of these guides are a total waste of time.
After all, if it was so easy to make money from sports betting, then everyone would be doing it. Plus being able to win every sports bet would require the ability to see into the future and that is impossible.
So be cautious about anything that says it can give you a guaranteed way to win your sports bets. Instead, you’ll find that doing your research to make confident predictions while betting with modest stakes is the safest way to avoid losing your money when wagering on sports.
Balancing risk against reward
If you want to win money when sports betting, you’ll need to win your bets. What’s the best way of doing this? Well, it’s simply to back the favorites. In recent years this would mean bets on things like the Kansas City Chiefs to beat the New York Jets. While there is always the chance of an upset, such shock results are few and far between.
Obviously, you won’t get much of a return when backing the favorites because the odds for the favorites will be pretty low. However, it’s worth noting that lots of small wins can add up over the long-term and it’s a smarter idea than blindly backing an underdog.
We’ll always recommend betting with small stakes. This means that you can suffer that inevitable loss and not have it wipe out your bankroll.
There are plenty of bankroll management strategies like the Fibonacci strategy that aim to guide you into how much you should stake in order to build up profits while covering any losses. To be fair, most of these bankroll management strategies can be risky and you’d be better off just by only betting with stakes that you don’t mind losing.
Is the 1.01 betting strategy worth it?
There’s a strategy that requires you to bet on seriously low odds of 1.01 (-10,000) that will give you an almost-guaranteed win and then you can repeat these bets over the long-term to build up some profits.
Just bear in mind that finding odds this low can be pretty hard and it’s mostly restricted to live betting. Plus you’ll have to wager with high stakes to get anything back from this. To be fair, it’s not the most thrilling betting strategy, but we thought you should know about it.
A quick look at expected value betting
Lots of bettors advocate something called expected value (EV) betting. This is where you’re looking at a sportsbook’s odds to see if there are any value bets. Value bets are simply where you think the sportsbook has got it wrong.
So if it says that the New York Giants have odds of +550 of beating the Philadelphia Eagles, but you think that it is closer to +350, then this would be a value bet. Now you could be on the Giants and know that you are getting better than expected odds. EV betting is something that’s done over the long-term and remains one of the best ways to beat the sportsbooks.
Why matched betting won’t work in the US just yet
You might have heard that matched betting is a good way to make money from betting on sport. This is where you put down two opposing bets on the same sporting event and pick up some bonus credit for free.
For example, you could bet on the Colts to beat the Broncos, and then the Colts not to beat the Broncos. These bets would cancel each other out and you’d still manage to get a bonus to make some win with.
However, one of these bets has to be made at a betting exchange. Unfortunately there are no betting exchanges in the US and it doesn’t look like there will be anytime soon. All of which makes matched betting impossible in the US at the moment.
Why responsible gambling is the best way to go
Our advice for making money from sports betting is pretty boring. It’s basically to do your research to come up with some solid predictions and only bet with small stakes that you don’t mind losing. This means that you can afford to suffer that occasional loss and not have it ruin your enjoyment of the big game.
Conclusion - What to do once you know how to make money sports betting
Now that you know how to make money sports betting, you’ll realize that it’s not about chasing after those big wins. Instead, it’s all about treating betting as any other form of entertainment. If you make a little extra money on the side, then that’s an added bonus.
Above all, there is no surefire way to know how to make money sports betting. Big upsets happen in sport all of the time and no one has a crystal ball. This is why smart bettors will always anticipate those inevitable upsets and only play with money that they don’t mind losing. So make sure that you check back here to get a good reminder of how to make money sports betting in a way that’s safe and responsible.
How to make money sports betting FAQ
Check out our guide to see how some people have earned a fair return betting on football. It’s part of our series of guides that tells you the truth about how to make money sports betting. Not only will you find out if sports betting is profitable for things like the NFL, but we will also give you some great advice about what you can do to avoid throwing your money away!
Be sure to read our guide that clarifies a few things about anything that tells you how to make money sports betting. We’ll reveal whether those $100 a day sports betting guides are any good and reveal some more profitable football betting oppourtunities. All of which should debunk a few myths and give you some solid facts about the profitability of sports betting.
Read our guide that tells you how to make money sports betting. You’ll get to see what the easy bets are for winning money and learn whether these bets are worthy of your time. After all, you probably know how to win while sports betting, but might want to get a little extra compared to just backing the favorites all of the time.
Check out our guide that looks at whether any mathematical formulas can help you learn how to make money sports betting. You’ll quickly learn which of these mathematical formulas might be worthy of a closer look and which should be swiftly discarded. All of which will help you gain plenty of confidence about how you bet on sport.
Our guide will help you find the best betting strategy you can use to raise your game when wagering on your favorite sport. This will reveal whether there are any tricks that can help learn how to make money sports betting or whether it’s something that can only be done through hard work and a little luck. So make sure that you read our guide and see the best strategy for betting on sports.