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How to make a living from sports betting?

Many have likely had the dream of being able to make a living from sports betting. It is certainly possible, as long as you abide by certain rules and adopt strict methods.  

Sports betting has always been a popular pastime of many but its popularity has been taken to new heights in recent years. The fever spread over the internet as soon as specialised sites were developed which inevitably led to some seeing an easy opportunity to earn money. However, the reality is quite different. Making a living from sports betting is possible, but it requires a lot of effort and discipline. In fact, losers far outnumber winners.

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What are the methods for making a living from sports betting?

One cannot succeed by relying on only one method. To win, there are three methods that work: sure bets, value bets and trading.

The sure bet

The sure bet is the 100% winning bet when betting on all possible outcomes of a sporting event. To achieve this, the sum of the odds of each outcome must be less than 100 per cent. However, this rarely happens, as bookmakers often adjust the odds. David T., a professional bettor, explains: "I settle for 3% sure bets. However, this also means that in order to win a lot, you have to bet a lot...As for me, I have about 12,000 euros spread over several bookmakers. I bet an average of €2,700 in bets per day, or €81,000 per month, for a monthly profit of €2,400".

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The value bet

A value bet is a bet where you believe that the odds proposed by the bookmaker are overestimated. Luca, a value bet specialist, explains how he identifies them: "I look at the odds on an odds comparator. When the odds seem high to me, I analyse the match statistics to determine my odds and the relative odds. If my odds are lower than the bookmaker's odds, I score.

Trading

Trading, practised on betting exchange sites such as Betfair or Betflag, is the method that yields the greatest benefits, provided, however, that you know how to manage it. This is the case with Giacomo, who explains what trading is. "A trade consists of a buy (back) and a sell (lay) of the same bet at two different odds over a very short period of time. You can both buy and then sell, and you can also do the opposite. The difference between the buying and selling odds will be the profit or loss'.

To 'trade' it is best to 'follow the event live on television and have trading software that allows you to transmit your orders faster,' Giacomo continues.

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Beware of scams

Other methods, especially those popular on the Internet, are bogus or very risky. Those who apply them are almost certain to lose.

"You have to be really strict," insists Luca. "Both in the selection of the bets and in the betting. You need a very precise method and you must never deviate from it." Regardless of the method adopted, another thing you should do is manage your portfolio in the right way.

Dedicate your life to betting and control your bets

To make a living from sports betting, one has to make many compromises. Sports matches take place in the evenings and at weekends. As a result, social and family life suffer.

"I sleep in for the big tennis tournaments, my favourite sport, explains trading specialist Giacomo. When they take place in Europe, I trade in the afternoon, every day, including weekends for the finals. It is more difficult when the tournaments take place in Asia or America. In these cases, I am forced to spend part of the night off and I live at a staggered pace. Of course, I allow myself time off when there are fewer events. This allows me to disconnect."

Making a living from sports betting is possible. Some bettors in the UK manage to earn up to €150,000 a year this way. But it is not all fun and games. There are many compromises. But there is nothing like the adrenaline rush that rises during a game when we see that luck is on our side.

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