Ways to profit with Sports Betting
- Updated: 7th August 2017
In this guide I will show you every possible way and even some alternatives of how to profit from Sports Betting and from the Sportsbook.
Punting is probably the most popular form of sports betting. It is simply betting on what we think will be the likely winner of a sporting event. Some people do it just for fun putting just a few quid on their favorite team while others take it a bit more seriously.
If you intend to win money off of punting, you need to take it seriously, i.e. spending some time studying the match/event.
PROS: The act of placing a bet or studying for the match can be made whenever you want.
CONS: Hard to profit because of how hard it is to analyze the match and still find an edge against the odds set by the sportsbook.
TIP: If you don’t have time to analyze a match, there’s always the chance to follow the tips of someone who did it for you. Our website is a good starting point because there you can find other people who post their analysis daily.
With the emergence of betting exchanges like Betfair, bettors now have the possibility of placing a “lay” bet, which is the opposite of traditional sportsbooks where in all the bets you make you are “backing” a certain outcome to occur.
Trading is all about ensuring profit whatever the outcome. In order to achieve that, we need to “back” at higher odds compared to our previous “lay” bet. We can also profit from the opposite, by “laying” at lower odds compared our previous “back” bet.
Some do it before the event starts (Pre-Live) while some do it during the event/race. Although it’s riskier, the most popular way of trading is during the event.
Considering trading before the event/race, the PROS are: Regular long-term profit
CONS: Learning curve. On Horse Racing in particular, it requires a lot of patience and a lot of failed attempts before we can profit. It also requires a lot of free time/availability.
Have you imagined backing the three possible outcomes in a football match? You would win every time right?
Sadly it doesn’t work like that, because if you did, and because of the sportsbooks’ edge, you would always lose money. We’ll call that edge “overround”.
The overround is that %value you see on Betfair on top of the “Back” bets.
Normally, that value is always higher than 100% but, if for some reason there is an anomaly on the odds that makes it go lower than 100%, we have a chance for a possible arbitrage.
With that said, when the overround is lower than 100%, it is possible to bet on all the possible outcomes with guaranteed profit
Since it is such an easy way to profit, it is very hard to find these chances, because there are a lot of people looking for them. Therefore, to profit with Arbitrage these days, we are almost force to subscribe to paid Arbitrage alert services.
But beware. An arbitrage can be risky too. Have you imagined if any of your bets gets cancelled?
PROS: Maybe the easiest way to profit from Betting
CONS: There’s a risk that the sportsbook cancels your bet.
It requires a big bankroll and accounts on several sportsbooks
TIP: There are several Arbitrage tutorials here in the portal.
Read thoroughly the sportsbook’s rules regarding bet cancelling. Check, near the beginning of the event, if the bet was or wasn’t cancelled. If it was, minimize your losses.
As a way to promote their services to new clients, sportsbook, usually, offer a bonus on sign-up. There are even some sportsbooks who reward already registered users whenever they invite someone to use their services.
Generally you can only withdraw the bonus amount after we meet the pre-established criteria defined by the sportsbook itself.
Some people try to speed up the bonus withdrawal by combining, in most cases, betting on a certain outcome on that sportsbook and then laying that same outcome on a betting exchange.
PROS: Just like arbitrages, this is a very easy way to bet.
CONS: Impossible to profit on mid and long term because there you will eventually run out of new sportsbooks.
TIP: We have a tutorial that explains it thoroughly Winning money without risk from Sportsbooks Bonuses. Ideal for someone who is just starting and wishes to build a bankroll in order to take it more seriously.
With sports betting, we often hear the term “Holy Grail”. In this chapter I’m going to speak about the Holy Grail of the modern age, i.e. a money making machine.
A bot is nothing more than an automatized betting solution. Yes, that’s right, a machine that bets for you.
Although it is an amazing idea, it is very hard to accomplish. Besides the necessary programming skills, you still need a profitable idea. And, well, in sports betting, profitable ideas are not easy to find and people who find them, keep it to themselves.
But I’m afraid I’m being too vague, so I’ll give some examples:
- A) Do you still remember what i said about overround?
I’m sure you do.
Now imagine that you have a machine who is constantly monitoring the overround and every time it goes under 100% it will bet the exact amounts needed to profit from any result..
- B) On betting exchanges we can either back or lay, right?
Well, then imagine you have a bot who tracks two exchanges at the same time on the horse racing market. As you should know, in these markets, the odds are constantly moving so, every now and then, it is possible to back in one exchange and lay in the other, ensuring a profit.
- C) Do you want to see a bot in action? Okay, I’ll show you.
I have picked three random matches who are live right now.
Do you think those 2€ on “1 goals or more” are there by chance?
No way my friends. Those 2€ are far from a coincidence.
As soon as the match begins this person’s bot places the bet waiting for someone that, by mistake, lays it. Seems impossible to happen right?
What if I told you that he has been doing this for over a year and for every match?
Do you think the author of this strategy would have the time and patience to place every bet manually?
Don’t you think that if it didn’t work he would have stopped already?
This person has a machine working for him and it definitely works.
PROS: Automated solution, not needing human presence.
CONS: Requires above average computing skills
This would be my preferred way of betting, if it wasn’t for my lack of programming knowledge.
TIP: There is software who makes it easier to create a bot because it plugs into excel directly, making this whole process much more smoother
When we consider betting, risk is almost inevitable. As in everything in life, there is always an exception, and this is one of them. If you are really good at picking one or more sports, this can be a good alternative. What I’m proposing here is a regular income stream without any risk
PROS: Regular monthly profit, similar to a salary
CONS: Time and skill necessary to analyze the matches.
TIP: As you can imagine, you will need a website to sell your picks, where you can eventually place some ads for sportsbooks. These ads can definitely be another additional way to earn money
There’s a lot of suspicion regarding these so-called systems. Whether it is because they are ridiculous ideas, whether it’s because some are nothing more than a copy of another one, well, there are thousands of reasons.
But you can make a difference. There are still, a few systems which i consider true and good.
I will give an example.
I’ve read about a tennis betting system where the introduction alone went on for several pages. And no, it wasn’t only pages explaining, once again, how to bet on Betfair. It was a brief summary of the most popular male and female tennis players. The system gave clear instructions on where they were stronger or weaker, and which bets to make/avoid making.
I consider this investigation work as serious
Despite the shady opinions on these systems there’s always people searching for them.
There’s always someone hoping to find the Holy Grail
PROS: Once again, no risk profit
CONS: Online marketing knowledge is advised.
TIP: If you really have a great system/idea, don’t sell it.