How to Make a Living from Sports Betting – 2024 Guide

Gambling is a very popular and attractive hobby for many people. Besides playing various games in some casinos, sports betting is also a great option and the first choice of many gamblers. Sports like basketball, soccer, hockey, and many others are very popular for betting, and there are hundreds of bets that you can play and combine for bigger odds.

Also, online betting became very popular in recent years, and there are thousands of apps that you can use to gamble online. There are many benefits of using an online bookmaker since it is a time-saving, faster, and easier option. You can check, which is an online casino where you can play all sorts of games and bet on sports matches as well.

Most of the people are betting for fun, which is especially amusing if you are a fan of some sports, and you have a favorite club. However, you should know that winning is not so easy, and you will need some knowledge except luck to win. That is the main difference between casino games and sports betting. Some people use the complex analysis and have a great knowledge of teams, and manage to win a lot of money by betting, enough to live only from that. Here are some of the best ways to make a living from sports betting in 2024.

Arbitrage Betting

The type of betting with the lowest risks is called arbitrage betting. In this method, you will have to find the game with odds which combination could bring you a win. For example, you can gamble on goals, and find a bookmaker where you can bet on minus 2, over 2, and exactly 2 goals in one soccer match. What is the catch here, there are some cases where bookmakers don’t set the odds, and you could even get the money you invested, or win with small odds?

The main use of arbitrage betting is to search over several bookmakers and find the difference in odds for one exact match.  For example, if one bet is offering odds for the match between Liverpool and Everton that are 1.5 for Home Win, 4 for an Even result, and 6 for Away Win, and another bookmaker is giving you 1.4 for Home Win, and 7 for Away Win, you can combine these two and bet on Home at first, and away at the second one. The same situation is for any other odds. The prize is much lower than in standard betting, but you have no risks of losing money.

Furthermore, it might seem too complicated, but the only way to succeed in arbitrage betting is to research several bookmakers and look for the difference in odds. Some online platforms could help you with that. Moreover, you cannot expect to win some great amount of money at once, since the average win on a 1000$ bet will be around 30 to 50 dollars. However, you can create a great income over time with this method.

Matched Betting

If you choose matched betting, you have to know that this system also represents a type of betting where you can’t lose. It is similar to arbitrage, but here you will be betting on corner bets, goals, or coin toss, and all that in hundreds of different bets. The main point is to select 100 bookmakers and bet on fewer goals, corners, or one side of the coin, and another 100 exchange bets, and place money of higher limits for goals, corners, or the opposite side of the coin.

The matched betting is completely legal, but the reason why you have to open accounts in so many different exchange bets and bookmakers is that some of them might figure out that you are using this system, and ban your account. Also, most of the online exchange bets are offering various bonuses and free bets when you register for the first time and giving you various bonuses when you play frequently, and that is where you are creating an income.  Earning a few hundred dollars every month with this technique is very simple, but you could earn much more if you invest a lot of time and effort. As we already said, there is no chance for you to lose with matched betting.

Value Betting

While arbitrage and matched betting are for beginners, and they won’t be available all the time when you have become an experienced gambler, value betting should be your first choice, and it is the most popular option for professionals who earn a lot of money almost every day. However, this method has some risks, but you will require good research on various factors to reduce the risks at a minimum.

For example, the bookkeeper might offer you a 3.00 odd on Liverpool against Barcelona, but your research on how they are playing at home, what is their current form, and some other factors leads to the fact that Liverpool has much better chances for a win. When you place a 1000$ bet on that game, you can win possibly 3000$, even if the betting exchange favorites Barcelona to win that game. There is still a good chance to lose this bet, but you will have to risk if you want to win.

Moreover, there are often some cases where the bookers are giving much bugger odds a few days before some match, and then lower it before the start. You should frequently analyze some bets and look at which one is giving the best odds. Also, you can combine several matches for even bigger prizes.

Use Proper Resources

There are many websites where you can read about teams and how do they play currently, what is their form, or even how the weather will be during the match. All of these factors could play an important role during the game. For example, if some bookkeeper favors a team, but that team has several key players injured at the moment, it might be the best time to try to bet against it. Additionally, you should always check how some teams are playing on a home and away from the ground, along with their history against each other.