How Do People Make Money on Sports Betting?

According to an ESPN survey, about 118 million American gambled on sports in some manner in 2008.

Later, this figure has increased significantly. This multibillion-dollar industry is extremely popular across the world due to the several reasons: there are unlimited betting markets, line shopping, which can maximize your potential winnings, safe betting, the presence of free play bonuses, deposit bonuses, VIP programs, and the ability to put money down on a game without depositing or posting up money.

Everybody who wants to try sports betting wonders how to make money sports betting and how to win bets. It’s difficult but attainable. The key is to use some strategies and follow some steps to be successful.

We want to share some tips and tricks on how to make money sports betting.

Acquire the knowledge you need to win

 

 

If you want to have consistent wins on your bets, you should develop your skills. First of all, you should decide on what sport you want to bet. The following sports definitely rank the highest: soccer, football, basketball, tennis, cricket, golf, F1, boxing. You can choose either the popular one or the sport, which you know inside out.

Handicaps are essential. Make sure that you are always up to date with the latest news: starting with the team, its schedule and mindset, changes in the coaching staff and ending with the weather at the stadium.

Besides, knowledge of betting is also extremely important. Odds are updated and lines are set accurately when betting movements form the basis of their decisions. An oddsmakers job depends on their skill when it comes to determining handicaps and adjusting bets accordingly.

On top of that, a successful bettor always knows the value and probability. The lines change often and never take a bet that does not offer good value. Always make smart bets based on odds rather than emotions. Try the method, called “score.” Your assignment is to guess the score of the game.

Besides, try matched betting. It means you should take advantage of the bonuses and incentives offered by the bookie to place bets for and against the exact same event.

The last but not the least is money management. Oftentimes, oddsmakers lose not because of the wrong choice but because of poor money management. Choose a bankroll and never spend all the money. A good choice is to bet not more than 5% of your bankroll. Also, never double up after wins or losses.

Select the best bookie

 

 

If you are self-confident, you know that you can realize your potential, and you objectively assess your chances, find the bookmaker that will have the best offers. Take into consideration your location and make sure your country isn’t on the list of the restricted countries. For instance, the best sport betting site in South Africa is Hightbet.

When choosing the bookie, you should take several aspects into consideration:

  • The bookmaker should be licensed and reputable. Also, check out the feedback of other gamblers and make sure the bookmaker wasn’t involved in financial scandals (fraud, corruption).
  • The website should be user-friendly and intuitive. The presence of a smooth-running app is an advantage.
  • There should be a wide selection of different sports. Besides, the event list should be broad and the bookie should offer live betting and live streaming.
  • Attractive bonuses and a loyalty program should meet your needs. Remember that the best bookmakers are customer-oriented, that is why they offer good bonuses to both beginners and experienced bettors.
  • The payment methods should be varied and there should be no delays in payments.
  • The customer service should be competent and friendly. It’s better if the bookie offers different methods to contact the support team: live chat, phone, post, email, fax.

Have the right mindset

 

 

Betting on sports is challenging and your decisions shouldn’t be impulsive. If you want to have a high edge and results in successful bets, you should stay on your toes and avoid burnout.

Establish your own rules and be disciplined. You must apply the same levels of dedication to betting that you would apply to your normal full-time job. Never chase losses. Accept that the fact that you won’t win every bet and this is absolutely normal! However, if you win constantly, you can get bored! In this case, you can explore new markets, improve your strategies and methods.

Conclusion

Thus, the formula for success in sports betting is a combination of in-depth knowledge, talent, determination, and luck. If you want to make money on sports betting, try to follow these tips and always remember that you should play with your head, not the heart.

Written by CelebMix