How to make money betting comes down to winning percentages. On this article, we approach some techniques that may help you how to make money from sports betting.
How to make money betting is a real challenge
It all comes down to winning percentages and picking the best betting odds. That is, to find the betting sites with smaller margins.
Right from the start, when bookmakers request trading services, they stipulate their profit margins.
The higher their profit margins, the lower their odds.
Usually, in order to become more competitive, bookmakers decide to lower their margins on certain betting markets, so they can attract bettors.
Many times, the lower profit margins and the higher odds are found among the main sporting events, since those attract more bettors.
By lowering the odds of Kenyans favorite sporting events.
Unfortunately, if bookmakers aren’t willing to lower their margins significantly, then a balance will be reached – known as a cartel – and punters will lose opportunities.
Right now, and for the most part, bookmakers have margins of 4%.
Mathematically speaking, this means that bettors must strive for a winning percentage of around 53%; unfortunately, it’s hard for many to get 50% of their bets right.
It’s as simple as that. If your winning percentage goes past 53% and you manage your bankroll wisely, then you’ll profit.
How to make money on sports betting websites
There are many strategies that may turn sports betting into a profitable activity.
This article on how to make money from sports betting will focus on those strategies.
Finding unbalanced odds
This technique is about finding odds on betting exchanges, like Betfair. And then finding odds for the same event offered by bookmakers that may take longer to update their lines.
This kind of variation happens particularly one hour before the start of a match.
A bookie may offer a 3.00 odd on a certain line and, all of a sudden, the odd go down to 2.50 and then to 2.00.
However, even though that bookie may now offer you a 2.00 odd, another bookie may still offer you a 3.00 odd.
That way, you get the chance of picking the best odds and beat the bookies.
Below, you can find some of the bookmakers that often provide those opportunities.
Following a tipster with a good accuracy rate
On Betarena, as on other websites, some tipsters offer tips regarding certain sporting events.
Following one of those tipsters’ usually professional gamblers suggestions may help you improve your accuracy rate. Remember that getting 53% of your bets right may be enough to allow you to make money.
Finding and using the best bonuses
Currently, the number of worthwhile bonuses available on the market is not as high as it was some years ago, but some are still worth a shot.
Many bookmakers offer a first deposit bonus, like, for instance, Bet365, which offers you €100 as soon as you make your first deposit.
We should take advantage of these kinds of bonuses and, if possible, we should deposit as much money as we can, in order to obtain the €100 bonus.
By using this type of strategy, and assuming we have a bankroll of €1000, then, in fact, we’ll have a €2000, which we can devote entirely to sports betting.
Betting on betting exchanges
Betting on betting exchanges is on the rise and is something that gives bettors the possibility of taking the place of bookmakers.
By using several trading strategies, like those we present on this article.
You will be able to introduce yourself to a domain of sports betting that, for the past years, has been attracting more and more bettors.
Bet, make money and become a true statistician
There are always bettors who create spreadsheets and apps that provide them with data and suggestions.
It’s a hard and sluggish task, so not every bettor takes that path.
If you think that you’re a good statistician and are capable of developing an app that may give you the upper hand, then you should start right away!
Things to avoid as a punter
In order to make a profit out of sports betting and be happy, there are several practices we should avoid.
Being clumsy and betting for the thrill – now that’s a recipe for disaster!
Not picking the best odds. That is, sticking blindly to a single bookie, even if that bookie does not offer you the best possible odds.
You should have multiple accounts on different bookmakers, take advantage of the bonuses they offer you and bet on those that present the best odds on your favorite betting markets.
Following tipster that shouldn’t really be followed. Many platforms offer free tips.
You should carefully choose which tips are worth following while keeping in mind the profiles of the tipsters you follow.
Golden rule: never bet on your favourite team – the reasons for this are obvious!
Pick safe bookmakers, since it’s very easy to know which bookies you can trust; we have written several articles on bookmakers and there are many others around the internet.
Conclusion on how to make money from sports betting
Nowadays, there is a lot of information available online which can help bettors become successful.
Make sure that you read and learn so you can achieve the best possible results.
We know that we won’t always get it right, but we must strive for winning percentages of at least 60%, which means that we can get 40% of our bets wrong.
As long as our actions are careful and wise, it’s possible to make money from sports betting.