How to Make Money in Sports Betting

Do you dream of earning money without leaving home? Love sports and watch a lot of sports matches every day? Then why not turn your knowledge into money and also get betting bonuses.

Choose a betting company to place your bets with (check new betting sites available), use our tips on how to make money online betting, and it could be your extra online job from home.

Our team gives you tips on how to start betting professionally, become a winning player, beat the bookies and this article will help you answer the question of how to make money in sports betting.

Table of content

As many accounts as possible with different betting companies

Have as many accounts as possible on the companies' websites, so you can choose the best odds. It is not necessary to have deposited money with all the companies, but be prepared to deposit if you find very good odds with a particular company.

If you don't bet often, you may not need to follow this advice. Once you bet €10 on 1.90 or 1.95, it doesn't make much difference, you only lose 50 cents.

FAQ
💸 How to make money with sports betting?

Sports betting offers an exciting and profitable avenue to earn extra income if you know what you are doing. To maximize your chances of success, it is essential to understand the basics of sports betting. This includes knowing which type of bets you should place and when and understanding how the odds work. Additionally, it is important to be advanced with the latest news and trends in the sports betting world. Doing your research and staying informed can help you make wise decisions regarding placing bets.

💸 Is sports betting profitable?

The answer to this question depends on various factors, including your knowledge and experience with betting on sports, the type of sports you are betting on, and the amount of money you have to invest. While there may be a few lucky people who profit from their sports betting activities, most people who bet on sports do not have long-term success. The key to how to consistently make money sports betting is to be disciplined, patient, and logical.

💸 What sport is the easiest to bet on?

The answer to this question depends mainly on your experience and preferences regarding sports betting. Some sports are more accessible to predict than others and may offer better odds. Generally, sports like soccer, basketball, baseball, tennis, and horse racing are the easiest to bet on as they have established markets with plenty of information available to help inform your betting decisions.  The more you understand about the sport and its respective leagues, the better chance you have of making successful bets.

💸 What is live betting?

Live betting is a form of sports betting in which bettors can place wagers on games or matches that are already in progress. This is one of the ways how to make money through sports betting.

💸 Has anyone become a millionaire from betting?

✅ Yes, someone can become a millionaire from betting. While the odds of achieving such success are slim, there have been many stories of people turning small stakes into big payouts in a relatively short time.

However, if you are tempted by the lure of making money from betting, there is a very big difference between these odds. If you bet like a pro, you will make 100 or even 1000 bets a year. It is easy to calculate how much money you will lose per year.

Another important aspect of why you should have as many accounts as possible with betting companies is that some companies do not like winning players.

This does not mean that you will be blocked from your account and lose money. You will just be paid out one day and you will only be able to bet a few euros when before you risked €100 or more.

Betting in one sport, better still in one league

One of the best advices on how to make money sports betting is to bet on one sport. Even better if it's in one league, because, say, the NBA basketball league is hard to follow anyway, with games every day.

how to make money with off sports betting

You can follow 2-4 of your favourite NBA teams, i.e. follow the teams' twitter accounts (as they report injuries and chances of playing and other important information).

By following several teams, you can already make profitable bets when they are playing. However, it is important not to become a fan of those teams, as this will make it harder to make the right decisions.

By watching not only the games, but also the press conferences and the comments of the players and coaches, you can get a sense of the psychological and physical atmosphere of the team.

This is a lot of online work,so we recommend that you keep your interest as narrow as possible at first and place fewer but higher quality bets until you gain more experience. 

can you make money sports online betting - computer in the clouds with sports balls flying from the screen
But if you are a real sports fanatic and you manage to be interested in all 30 NBA teams, that's a plus for you, because you increase your chances of finding more and better bets, and the money you make from online sports betting will be more accessible to you.

Following experienced bookmakers is the way to know how to make money from sports betting

If you can't seem to make a profitable bet and you keep missing out, follow someone with more experience. These are the betting experts sharing their bets. These are usually paid services, but you can find them for free.

You can invest extra and buy a profitable bookmaker (tipster) , which will cost you between €30 and €100 per month. Alternatively, if you do well, you can register on this platform and, with a good track record, you will be able to sell your own bets and perhaps do this as an additional online job.

Don't believe in magic bets of €200 or more, you will get a bet for that amount, but it will be luck and not a professionally analysed situation. Don't be the grandmother who gives money to a grandson she doesn't even have.

how to consistently make a lot of money sports betting
Don't trust the Facebook experts who ask for a cut of the profits in all sorts of online groups and so on for a winning bet. Most of the time they will not be betting experts, but suckers, because if they knew anything they would bet themselves.

If you want to get free material, sign up for sports betting forums where experienced bettors discuss and exchange opinions or find useful facts that you may have missed.

Forget statistics if you're interested in making money betting online

Many people try to base everything on statistics when betting on sports. Unfortunately, bookmakers see the same statistics and that's what they use to calculate odds.

You need to look at the statistics to remember the results or to check some forgotten figures, but it cannot be your main argument when betting, because in the long run you will not be able to beat the bookmaker, which has much more resources to access the various statistics.

make money betting on sports

Investment experts joke that there are lies, big lies and statistics. But this adage can be applied to sports betting too. Why do you find thick books of statistics in every betting shop?

To mislead you! Watch a live match and you will never need statistics, because what happens on the pitch is sometimes not reflected at all in the statistical reports.

A bookmaker working in a betting shop has a lot of information, but it's more just numbers, if you predict the psychology of the players or the manoeuvres and tactics of the coaches on the pitch, then you will surely beat the bookmaker and that will probably be an additional income for you.

Live betting is the key to how to make money betting

Live betting is when a match is already underway and betting is available, the odds are adjusted accordingly according to the events on the pitch. “Live betting can be a dangerous business if you don't know it. A conservative tactic should be used, i.e. to bet when events on the pitch are obvious.

Also, before opening a live betting platform with a betting company, you should set your clear objectives and stick to them before betting, because it can get you very gambling and if you don't have the brakes on, you will make big losses.

Fans are watching football match at the stadium

So live betting is for when you really see the obvious on the pitch, or you missed some information and the leader of the other team is still playing.

Another reason to use this gambling platform is that you don't have time to find good odds before the match, but the odds have risen strongly since the match started and now there is value in grabbing them.

Don't bet on low odds and don't combine bets

Bookmakers who don't have much experience are often attracted by low odds. They have a theory in their head that low odds win more often than high odds. This is true, but in the long run, if you bet just because a sporting event has low odds, you will not get rich.

In the short term, this strategy can be profitable as long as there is no sensation on that sporting event. So when your ideal odds have “burnt”, you have probably “burnt” a significant amount of money, because you need to bet a lot of money in order to reap the benefits of those odds.

The next step that arises in the gambler's mind is to add the following bets. Taking some seven NBA events with odds of 1.05-1.15, the result is approximately 1.70.

is sports betting profitable screen showing betting odds

We can almost guarantee that some event will not win, because sport is unpredictable and combining seven events is like buying a lottery ticket.

So we advise you not to combine more than 3 events, because betting companies make a lot of profit from these bets by offering sports fans a plan to get money quickly and easily.

Take breaks

If you lose 5 or 7 bets in a row, just take a break. Maybe you're making the right decisions, it's just that sporting events on the court are unpredictable. And that happens sometimes, remember when Greece became European football champions?

Sometimes sports betting can be hard to predict, so if you've hit a pothole or your tipster has started to predict poorly, just take a break and come back and storm the betting and you will start to make money betting on sports again.

making money betting online

Never bet on emotion and passion. Don't increase your betting amounts to “make up” for the money you lost before. Only with a cool head and discipline can you make money sports betting and achieve good results in the long run.

What if you win 6 or 7 bets in a row? You don't really need a break, but don't overestimate your strength, because optimism is likely to be very high. You will want to try to predict other sports as well, so know your options and your arsenal and only bet on what you know.

Where to get the money for the initial betting capital

Still wondering how to make money online? And you've decided that it's going to be betting, but your initial capital is quite small.

This is where company bonuses come in, where if you are successful, you can increase your betting bank very quickly. Betting companies compete fiercely to attract customers, so you can take advantage of some very good offers.

how to make money in on from through sports betting

Another way to make money from betting at the start of your career is to try to sell your bets for a profit or a fixed amount, but of course you need to demonstrate good results to gain the trust of others, and this will certainly take time.

What are the chances of making money betting online?

Sports betting is a complex business, with up to 5% of gamblers betting profitably. However, if you have a good knowledge of the sport and a good understanding of what's happening in the NBA or on the football pitch, the odds of winning against the bookmakers definitely increase by more than 5%.

If you put in the work to find the best odds and have a number of betting companies in your arsenal, you might be able to get an extra job online and create a job for yourself from the comfort of your home.

In betting, as in investing and business, your emotional intelligence is important. That is, how do you react to defeats or harder periods, because there will be some, can you make good decisions, how do you manage your emotions? And it's not just about thinking about how to make money on sports betting, it's about making the right betting decisions.

So managing your emotions is important, but even more important is knowing how to manage your betting bank to make sure that your sports earnings are within reach. Don't bet more than 5% of your bank, ideally just 1% of your bank.

You should also choose to bet at odds of 1.80 or more, because then if you can hit more than 55% of your targets, you will be able to make a profit on your bets. If you choose to bet at odds of 1.05, you will need to hit close to 100% to be profitable, which is impossible.

How To Make Money In Sports Betting – Conclusions

Betting can be hell for you, but it can also be a great source of extra money or a home-based online job where you don't have to get up early, rush to the office, or stand in traffic, and you can just make money at home watching your favourite sports matches.

So if you decide to take the risk of turning your sporting knowledge into money, first of all, be aware that it may cause you a lot of stress, and to reduce that stress, start by taking a risk on the money you might lose.

making money from betting

If you risk money that should have gone towards your rent or your holidays, then you will be under a lot of psychological stress because you cannot lose.

But if you “write off” the money in advance, you will have a big advantage over the bookies: you will be able to make good decisions, maybe take more risks sometimes, and not just think about how to make money off sports betting.

Remember that betting is a gambling and a business and companies make money from people whose bets are not the best, but if you read this article and follow our tips on how to make money in sports betting and think differently than 90% of gamblers when betting, then you will be in luck!

Dalius Mikalauskas

Sports Betting Expert

Dalius became interested in sports betting at the age of 16, although he could not place bets at that time (bets accepted from the age of 18). However, it was not forbidden to sell betting picks, which is what the author did actively on sports betting forums. Today, he has more than 18 years of experience in sports betting. In school, the auth ..
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