Sports Betting for a Living? Is Earning Money from Betting possible?
Whether it is possible to earn money from gambling and make a living from betting are questions which seem to bother many punters.
To give the short answer…
Yes, it is absolutely possible to make money with sports betting.
Bookmakers make money; sports analysts make a living from gambling by compiling odds for bookies; some of my own income derives from sports bettors using this website. Programmers earn a living from gambling by developing various betting applications. Manufacturers of gaming machines make money from people’s gambling habits.
I could certainly continue this list as the betting business is a big industry providing many, many people with jobs.
But this is probably not a satisfactory response for sports fans who bet themselves and pursue the dream of supplementing their income, or becoming rich from gambling one day.
However, for these hopeful punters, the answer is also clearly positive…
Yes: it is possible to develop long-term profitable betting strategies.
Yes: it is possible to find betting odds which hold value and provide a mathematical edge.
Nothing is Impossible!
The big question is whether you will manage to join the minority, the tiny crowd of betting enthusiasts who finally become successful.
Another question is whether you have the patience (and time) for acquiring the necessary knowledge to win more than you lose, because only knowledge is power; without knowledge there is no chance.
Reliance on luck is not a foundation for lasting success. With luck alone nobody can build a house – only a handful of lottery millionaires can claim the opposite.
Winning Sports Betting Strategies and Tactics
The following pieces of sports betting advice can help you turn a profit from your wagers. These basic sports betting strategies are common knowledge; nothing written in this article is a deep dark secret of the sports gambling industry. The trick is to follow these tips at all times, never letting your heart get in the way of a smart wager. If you want to win money betting on sports, you need to follow some basic strategies for sports gamblers.
Money Management / Bankroll Management
Setting aside a specific amount of money, known as your “bankroll”, will help keep your gambling on-budget. It’s true that you should never use your rent money to bet on sports, but the converse of that is that you should never use your sports betting bankroll to pay rent, if you want to be a profitable gambler.
Establishing a bankroll means deciding on an amount of cash that you can afford to lose.
Establishing a specific bankroll for a given sport’s season includes breaking that budget down by the month, the week, and per game. General sports betting strategy advice in terms of your bankroll will tell you that you shouldn’t wager more than 1% of your total bankroll per game. Anything above 1% is considered a risky bet, while wagers made up of 1% of your bankroll are considered conservative, smart wagers.
As an example, let’s say you’ve decided your bankroll for the entire League season is Ksh10,000; you don’t want to wager more than Ksh100 per Footbal game. Bets of that size keep from losing too much on a bad wager, and can still help you turn a profit.
Bankroll strategy also teaches gamblers not to try to make up for losses by placing larger bets. Your brain may tell you that you have to “win back” your losses by doubling your wagers on your next round of bets, but this sort of wager manipulation is more likely to lead to even bigger losses. Always work within your established bankroll, and if you have some success, then consider increasing your wagers a few shillings at a time over the course of a season.
Bet in Your Right Mind
There’s an expression common to all forms of gambling, known as “going on tilt.” Poker players, slot machine junkies, and sports bettors are all liable to bet “on tilt” when they let their emotions get the best of them and forget about basic strategy. Betting when you’re in your right mind means ignoring your emotions and wagering only when you are sober and in a good mood.
One way to think of placing sports wagers is to only bet when you would feel safe driving. Brick and mortar sportsbooks often include bars – why do you think that is? People who have imbibed a little too much beer or whiskey tend to place wagers based on their emotions, and as a result lose more than they win. Gambling on sports while you’re drunk (or under the influence of drugs) will keep you from using good judgment and can put your bankroll in jeopardy.
As for the advice to avoid allowing your emotions to take over, understand that being angry or even being extremely happy can impair your judgment just as easily as a few too many beers. Let’s say you’ve just experienced a round of bad beats and you’re down in the mouth – that’s the perfect time to walk away from the sportsbook until your head is clear. If you’re on a losing streak, you need to take a break before you start placing other sports bets. It’s no surprise that many professional sports bettors understand the ins and outs of meditation and emotional control; clearing your mind after a series of bad losses will help you keep your bankroll in the black.
Do the Homework
Probably the most important sports wagering tip is to do your homework before you place a bet. Researching before you place a bet means handicapping teams as well as shopping for the best lines. In fact, line-shopping is often more important than knowing the ins and outs of all the teams and players involved in your wagers. Studying your picks before you make them means comparing stats, betting trends, past performances, and hunting for the best possible lines before you lay down a bet.
More on Line Shopping
Winning sports bettors are often those gamblers that have the patience and ability to look around for the best lines. That’s one reason why opening accounts at multiple online sportsbooks is a winning strategy – different books have different lines and odds, and membership at a variety of these sites gives you the chance to find the best line and lay your money on those odds. Here’s an example; let’s say you want to bet on the Southampton VS Sunderland and most books are offering a Odd of 1.7. If you spend time line-shopping, you may find a book offering the same bet at 1.9 or even better. Repeat that practice over the period of an entire sports betting season and you’re more likely to find yourself winning more often than you lose.
For the most part, sports betting strategy is just common sense. Establish your bankroll and acceptable bet sizes, control your emotions, avoid betting when you’re under-the-influence, and shop for the best lines. The rest is up to the teams you wager on and the finicky gods that watch over sporting events.
Uwezobet Premium Tips
You will find these winning tips and tipsters at Uwezobet.
As you can see all you require is a good money management system and a good tipster to make money from sports betting. Sports Investment is the term coined by the small minority who actually make good returns from betting, whilst the other 95% of gamblers will continue to lose millions of shillings daily. Aim to win more than 50% of your bets, and only bet the cash you can afford to lose. You must never bet with borrowed money.