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Nine Ways to Win Money from Betting

Last updated: 11 Nov 21:14

Although more than 90% of gamblers lose money in the long-run, purely staking on sports events is not the only way to boost your betting bankroll. Many bettors, especially the ones who are make a living out of it, are using advanced betting analytics and are deploying various streams of revenues. This article will introduce to both novices and professionals some interesting means of getting money from staking and sports betting-related activities.

Participate in tipster competitions

There are various betting sites from all around the globe that would pay the top 10 places each month; some of them have annual prizes and separate standings for different sports. Getting involved is quite straightforward as it usually requires no betting bankroll at all! Moreover, a lot of people attend these websites, and if you continuously prove that you have a remarkable betting knowledge, you could steadily acquire a faithful fan base and future opportunities!

It is essential though to assess whether it is worth joining though – some of these sites offer too small rewards but yet have hundreds of participants – it will be simply a waste of your time to contribute with your predictions!

Take advantage of offers

Bookmakers’ offers are designated to trick the majority of people. However, if the bookies knew you are shrewd and have a strong betting history, they will be quite reluctant to give you a free bet or a sign-up bonus! If you carefully read the terms and conditions for such bargains, you may find out that there are some good money to be made, especially for renowned events such as Cheltenham Festival, FIFA World Cup Final, NBA Play-Offs, Wimbledon Final, etc.

You can hedge your risk from some of these offers by using bet calculators (as you still have to invest money) and having access to different odds providers. This also ensures you to bet with the best odds when you are making regular bets and enables you to make arbitrage profits. The downside is the hassle that comes from managing a lot of accounts and identifying issues with bets settlement, unfortunately, becomes harder. You can mitigate that by having a sophisticated bet tracker software to stay up-to-date with your performance.

Arbitrage

There is nothing illegal about that! Bear in mind that most odds providers (apart from the Asian-Style companies: Pinnacle, SBOBET, Mollybet, Dafabet, IBCBET, Singbet, etc.) could be very far from the truth when it comes to pricing, especially in the lower leagues, and they tend to be slow in adjusting their offerings. This provides excellent opportunities to bet simultaneously with a guaranteed profit if you carefully track your bookmakers. A simple example: At a certain point in time

  • Unibet offers Chelsea to beat Arsenal at odds of 2.02
  • Winner Sports offers Arsenal not to lose (Arsenal x2) at odds of 2.02

If you stake 100 GBP on each of these offerings, you are guaranteed a profit of 2 GBP. If possible, bet with round numbers (i.e. do not bet 16.16 GBP but bet 16 GBP) – that way you will keep your accounts for longer, as bookmakers’ software will not catch you that easy!

An important caveat - bookmakers have different ways of auto bet settlement for all sorts of events, especially for tennis and ice-hockey. Arbitraging is thus not as risk-free as people like to think! However, you should still be increasing your betting bankroll if you are careful! There is also some good bet tracking software to facilitate your arbitraging betting management, and if you separately track your arbitrage bets, you can identify arising settlement issues.

Value Betting

Introducing value betting your sports betting portfolio is easier said than done. However, as bookmakers have to price thousands of sports events all the time, they mainly use statistical algorithms to save time and money. If you implement prudent betting analytics and take into consideration a plethora of factors into account, you could be capable of evaluating risk better than the gambling operators on certain games!

However, doing everything on your own is not the only solution. With the rapid rise of social platforms, it is easier than ever to connect with like-minded bettors – instead of paying a tipster you can merely exchange information with knowledgeable tipsters who have proven to be successful in their betting. You could even go a step further and create or join betting groups with dozens of members from all around the globe who are engaged and are regularly sharing insights and expertise. That is a great way of picking others’ brains at practically no cost!

Finding value bets in many occasions is time consuming and requires specific knowledge, discipline and patience. Good way to ensure that you are placing value bets is to follow someone who did his homework and he excels in his area. We recommend you testing Tennis Tips service. Thy provide great quality at reasonable price!

Take advantage of your popularity

If you own a successful blog, possess a widely followed social media account or a website with many visitors, it may be a great idea to negotiate several affiliate deals or populate certain sections with ads. This is a consistent stream of revenue. However, doing that may annoy your audience. Be careful!

Sell your picks to private clients

When you establish yourself as a person who is showing wise and profitable approach to betting, it is probable that punters will be more than happy to pay a monthly subscription to gain access to your services. That could be a win-win situation! If you are deploying bet tracking to capture your betting history, manage to sustain a positive return on investment, liaise with your customers and ensure they are getting decent odds, you might very well gain happy long-term clients and a guaranteed revenue stream!

Sell your picks to investors

Even the professionals may not be aware of that! Investment companies will happily pay you a commission, based on how well your betting portfolio performs. It does not take too much effort to send picks either, as usually everything is done via user-friendly platforms. One of the positive sides is that if you are on minus with them, you do not lose money. Some of these firms also offer affiliate programs - you can refer people and win a portion of their winnings, in case they are successful at increasing the investors’ betting bankroll.

It is a bit more delicate situation if you have both private clients and work for investors but if you bet on markets with high liquidity - that should not be a problem.

Freelance

This could be anything from content writing and betting advisory to social media marketing – activities which you can carry out from home! This is still a long-shot as such options are rather difficult to find in this sphere. Nevertheless, if you advertise your personal brand well, connect with people who have a good betting history, try your luck with emailing various websites and look at designated pages, you might find out that there are quite a few websites that demand people with in-depth betting knowledge!

Take on betting jobs

This naturally requires more commitment in terms of time, and you have to be a skilful professional. However, with the increase of remote working, such opportunities are becoming more accessible to experienced traders, risk analysts, local specialists, financial experts and sports betting consultants. There are various recruiters out there who are specifically looking to get quality candidates to work in the iGaming industry part-time and full-time both in an office environment and as remote employees.

What to do with the money if you win?

  • Do not keep too much money with the bookmakers – they are not banks! If these enterprises go bust, you may not see your funds at all! If you follow a methodology for betting management such as the Kelly Criterion, you would not have to bother too much with thinking about how much to stake when you withdraw cash.

  • On the other hand, paying prudent sports betting tipsters a reasonable fee in exchange for high-quality information might be a worthwhile investment, provided you can catch their odds and have access to the games they are advising you on! For example, if a tipster bets on a league which is solely available in bet365 and you do not have an account with that bookmaker, then it is pointless to subscribe. Furthermore, think about whether the tipster's style suits you. For instance, horse-racing sports betting advisors can lose for months and turn everything around with just one long-shot winner! I personally cannot tolerate such volatility though. Do your background research and consider what you would want your advisor to be providing!

There is no point in paying a tipster to send you some basic analysis on Chelsea – Arsenal with data from the BBC website though!

  • If you want to make progress in your betting analytics, you should absolutely be investing in technology and software tools, such as a smart bet tracker and advanced statistics, to get ahead of the competition and grow your betting bankroll even further.

An important remark

Please, bear in mind that depending on the country in which you live, you may be liable to pay taxes on profits from staking on sports and other betting-related activities (e.g. prize money from competitions, a commission from investors, freelancing, etc.).

About the author:

Nikola is a highly renowned professional tipster with 4 years of experience in the industry. You can contact him at: [email protected]

Disclaimer:

Please note that any previews, recommendations or information available on the Betting.com website is just with informative purpose. All betting activities do involve risk, please bet with funds that you can afford to lose. Betting.com cannot be held responsible for any gains or losses occurred as a consequence of information found on the Betting.com website.

Author:

Teemu Maarela

Esports & Ice Hockey Specialist

Bio:

Teemu is an enthusiastic Finn who spent his childhood around ice hockey and video games, and he has 10+ years of experience with sports betting industry. Teemu specialises in analysing esports and ice hockey games. He contributes to Betting.com website in English, writing about his two passions - ice hockey and esports.
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