The internet has taken betting to a new level. Thanks to the technological breakthrough, anyone can try to start earning money from betting. But is it possible to win consistently and earn an income? In this article, we will tell you about the five best ways to make money through online betting sites and give tips for beginners that will be relevant in 2024.
How to start making money on sports betting
Only a few people bet for fun. In most cases, players are driven by the desire to win and make money.
Let’s say right away that only a small percentage of professional gamblers consistently win at bookmakers. If you also want to start making money on bets, then you cannot do without love for sports, because you will have to watch matches for several hours a day and analyze their results. To make money on sports betting, you will need:
- stable Internet access (especially if you intend to bet live);
- free time (at least 3 hours a day);
- bankroll – free capital that you can lose without harming yourself;
- good knowledge of one or more sports.
Most often, beginners prefer popular sports like soccer, hockey or basketball. But the easiest way to make money is tennis.
Let’s say a few words about the bankroll. If you are new to betting, then there is a high probability of a strong decrease or complete loss of the initial deposit. Therefore, we urge you never to bet on the last money. Play only if you can afford to lose your investment.
How to avoid mistakes
A professional gambler differs from a beginner in many ways. If you stick to these rules, your chances of getting rich from betting will increase.
- Don’t bet on everything. Only bet on sports you know well.
- Always analyze an event before placing a bet.
- Do not bet more than 1-3% of your bankroll.
- Do not use parimutuel betting and do not make big parlays that include more than 5 events.
- Choose a verified betting provider, whose conditions are best suited for you.
Most often, beginners make the same mistakes in sports betting, for example, they impulsively bet everything on one event. Such rash actions most often end in loss. To make money, you need a systematic approach, so below we will tell you about the five best strategies for making money through online betting sites.
Top 5 best ways to make money on online betting
There are different approaches to making a bet. We have compiled a rating of the best strategies so that you can choose the one that is right for you.
5. Bookmaker surebets
To use this approach, you need to register with several bookmakers at once. It is worth comparing the odds that bookmakers offer for different outcomes of the same event, and bet to make a profit regardless of the result. On the Internet, you can find calculators that help you calculate the possible profit and the required amount of the bet for each surebet.
Among the advantages of such bets are almost guaranteed earnings. The only risk is that the company may refuse to pay out the winnings or block your account. It is with the help of surebets that those players who do not know how to qualitatively analyze events often earn on bets.
4. Middle bets
A type of bets in which different bookmakers find a middling opportunity for a handicap or total. If the team “hits the middle”, both bets win, if not, a part of the bankroll is lost. This is a kind of surebets, but here the win is not the difference in the odds, but the difference in the values of the handicaps and totals.
Usually, the consequences are the same – bookmakers block player accounts. Sometimes they can allow you to withdraw money before that.
If you are planning to make money on surebets or middle bets, read bettor reviews of different bookmakers on Meta.reviews to choose the companies that are loyal to their customers.
3. After goal betting
It is known that in most cases a few seconds can elapse between a stadium event and a change in the betting odds. From Latin America, for example, it can take 8 or 12 seconds for a signal to reach a bookmaker in Europe. If you are in the stadium or have a faster transmission than the bookmaker (and there are some), this is enough time to bet on an event that has already occurred (goal scored, set won).
2. Value Betting
This approach is suitable for players who have been following a particular sport for a long time and know it very well. This will allow you to decide the favorites for the match yourself.
For example, in a Bayern vs Liverpool match, the bookmaker believes that the German club is favorites, so the odds are 1.5 to win, but the English are underdogs, so their victory is estimated at 3.0.
However, if you carry out a detailed analysis, it turns out that Liverpool have a much better chance of winning than the bookmaker thinks. This means that it is more profitable to bet on the English club.
Often, an approach called flat is used along with this strategy. The same amount is bet on all events over a long period. If the bank has increased significantly, for example, 2 times, then the size of the bet can be increased. And if the bankroll decreases, the player starts to bet less. So the likelihood of losing funds completely decreases.
1. Chasing bets
One of the most aggressive strategies, which involves continually increasing the size of your initial bet if you lose. For example, you bet $10 and lose. Your task now is to win back the previous bet and make a profit.
The Martingale system is most commonly used for chasing a bet. If you lose, the bet is doubled. For example, you bet $10. If the bet loses, you bet $20 next time. In case of winning the size of winnings will be $40, the net profit will be equal to $10. If unlucky, the next time you bet $40 and so on.
The Martingale system is suitable for betting on outcomes with odds of 2 or higher. It is enough for us to select them and in case of loss, constantly double the size of the bet.
Players using this strategy should stick to a few rules:
- initial bet amount must be very small, so that a series of defeats does not lead to a complete loss of capital and the player has a repeated opportunity to win back by chasing a bet;
- choosing the outcomes in which you are most confident, you should not bet on each event with odds of 2 without conducting preliminary analysis (so the likelihood of a protracted series of defeats will be minimized).