Here’s a question that is often asked, “Can one make a good living from sports betting?”
The response you typically get to that question is a profound, flat-out “no.” It’s always accompanied by a clique like “Bookmaker always wins” or “It’s a game of luck.”
To the bulk of the population, it is unfathomable that anybody could make a consistent profit from sports betting. But while it is accurate that sports betting is just a “luck’s game” for most bettors, there is no argument that a few professional punters, traders, and value betting bettors exist and prosper. There are legal ways to make a living out of sports betting.
In reality, you can start making a living from sports betting—provided you’re willing to invest some time and effort in it. Here are the strategies you need to learn in the specified order.
Table of content:
- 1. Matched Betting
- 2. Arbitrage Betting
- 3. Value Betting
- 4. Tipsters
- 5. Strategies & Systems
- 6. Trade in Sports
- Summary
1. Matched Betting
Simply put, it’s a strategy to make risk-free returns from sports betting bonuses & free bets. It’s a perfect starting point for those looking to make their first major jump into professional sports betting without the possibility of blasting their bankroll. Matched Betting familiarizes beginners with the decimal odds format and the Betfair exchange. This is the first big move in professional sports betting.
2. Arbitrage Betting
Going further from Matched Betting is arbitrage betting—also known as “arbing” or “sure betting.” If equipped with the right tools, arbitrage betting is easy and potentially lucrative.
You would have to apply the “Back high, Lay low” philosophy to a simple arbitration bet. This means that the value odds are backed by the Bookmaker and then put against it by an opposing exchange bet at lower odds to seal in risk-free revenues. It’s the core of good sports trading.
Arbing prospects apply to a wide variety of various sports and markets. Sports Betting Blog Church of Betting reveals that arbs still exist in common e-sports, such as the League of Legends (LoL).
Arbitrage prospects are short-lived, so you’ll need an arb finder to find them regularly.
3. Value Betting
Once you build up a bankroll using risk-free strategies of Matched Betting and Arbing, then it’s best to move on to tactics that enable you to start taking calculated risks.
‘Value,’ in betting terms, is introduced when the odds indicate that the pick is not as likely to win as it is. By selecting odds, the ‘edge’ is in the player’s favor.
Wins and losses are both part and parcel of value betting. But your “plus EV edge” means you’re going to end up at the top in the long-run.
Good value bettors use sportsbook accounts and, in some instances, bet exchanges like Betfair. Whatever platform they use, elite players approach their sports value bets as if they were investments in stock markets.
Finding value bets
There are two major types of value bets:
Odds that go on to drop. If you can keep the odds from falling in value, then you’re on a winning strategy. When odds are settled at a lower price than what you have staked, then what you have gained is a “value bet.”
Odds that suggest an outcome is less likely to happen than actual fact. Rather than forecasting a drop in odds (and relying solely on market accuracy), you can already know that the actual probability of an outcome occurring is more likely than the odds imply. For instance, if the odds on offer are 10/1 at a Bookie, but you’ve estimated the “fair” chance as 7/1, then the returns on a win at the Bookie makes the bet profitable (assuming that your estimate is accurate). This is, therefore, another form of “value bet.”
The best way to find value is to pay a subscription to the Value Bet Finder. This gives punters a ‘feed’ value odds to pick up once they show up at a Bookmaker.
4. Tipsters
The alternative to paying a subscription to the value bet feed is the tipster service.
You should be advised that finding a credible tipster can be challenging. There are so many fraudsters out there – so you have to tread cautiously.
In the case of tipsters, locating that “diamond in rough” is almost unfeasible without a high degree of accountability and thorough vetting methods. Tipstrr—where all outcomes are thoroughly audited—is a solid recommendation No more fabricated records, no more fake accounting.
Using Tipstrr, you will interact with loads of tipsters with unarguably good records that will help you create a portfolio of bets.
5. Strategies & Systems
While value betting, arbitrage, and tipster services provide profitable selections to customers, betting companies will have their accounts restricted or closed in due time. This sets a cap on profitability. So there’s a period in everyone’s betting career that they’re going to need to make a stable profit.
Finding value through your own betting model or system is the way forward. But it’s not that easy—it requires a lot of hard work. Nobody’s only going to give you a winning recipe. Even if they did, they would be very short-lived and competitive.
Professionals are very secretive about their practices. Try to google search “Betting Holy Grail,” “Best Betting Strategies,” or “Best Ways to Predict Sports Outcomes and Model odds.” What you’ll notice is a plethora of conversations between punters—even some pretty comprehensive sports betting analyses that have been conducted. A lot of tipsters will also be suggested. But you’re not going to find anything tangible other than the risk-free betting strategies mentioned above.
Know that there has to be consistent value in your bets for every winning strategy. So if you’re able to model the probability of an occurrence happening correctly, and you can find odds at a higher value than your estimates, then you’re on the right track.
6. Trade in Sports
Although all the same value betting concepts apply to sports trading, they require a far greater discipline and skill element.
It’s extremely difficult to become a professional sports trader. It is projected that less than 1% of Betfair’s customers make consistent profits. This is partly because markets are always in haste to correct. In other words, they are quite effective.
The efficiency of the betting exchange is also often discussed. In a competitive sports trading market, the bottom line is that the odds are (on average) an accurate representation of the real-life chances of an event happening. Betfair prices are smooth as against Bookie odds.
So if you want to become a good Betfair trader, you’re going to need to be wise, committed, and willing to follow bad advice like “trust your gut.” In short: you have to be cleverer or know something more insightful than a collective ‘crowd’ on the exchange. This takes a very systematic approach.
Summary
You can make a living out of sports betting. Only a few people will travel farther than others. And that is life for you.
