Are you already a sports bettor or are you interested in becoming one soon? It’s possible to make money with sports betting. Depending on your goals, you can earn money to make ends meet, to realize your projects or for the strongest and most experienced ones to make a living! Discover our tips for making money with sports betting.
Defining the Bankroll for Betting
It’s important to know how much you can spend per month on this hobby so that you don’t get overwhelmed by the game. Be careful and set your limits according to your financial reality.
Consider your experience and your level of support (advice from pro bettors, tipsters, experienced friends, etc.) to define the amount of your bankroll. Never play all or over 20% at once!
Building a Sports Betting Bankroll
Your sports betting bankroll is the amount of money you have available to bet. It’s your base for betting and you should use your bankroll to determine your bets. It’s undoubtedly the key to winning in the long run.
Taking Advantage of Welcome Offers on Sports Betting Sites
This is a good way to start betting while minimizing the risks. Being reimbursed in cash or in free bets secures you in your first bet. Depending on the bookmakers and the refund offer, in cash or not, you have to adapt to the level of risk of your first bet.
Analyze the Statistics of the Matches
Analyze your matches whatever the sport. It’s important to cross-check the sources of the sports media and to be inspired by prognosticators to keep an open mind on the bets. This allows us to confirm or be challenged on our initial choices.
Managing Your Sports Bets
Most bettors don’t calculate their betting percentage according to their capital. On average, they bet between 5% and 30% of their capital per bet. However, it’s risky not to calculate your bet with reliability if you want to make money in the long run. That’s the point of bet management. Different techniques exist depending on how you bet, the “flat betting” is to bet always the same amount, the evolving bets which is equivalent to bet a percentage of its current bankroll depending on the reliability of bets.
Defining a Long-term Strategy
With sports betting, you bet by choosing the level of risk you want to take, but let’s remember that there is always an element of chance in sports. You have to take it into account and accept to lose.
There are different betting profiles with different strategies. Based on fun by trying big combos with high odds, based on poker moves and surprises, or based on prudence by being safer in your choices and playing on total odds lower than 2.
If you want to win in the long run, it is essential to have a mostly conservative profile with a small part of the capital dedicated to occasional fun. So you want to win in the long run and you are patient? Prefer “double chances” bets for a higher profitability in the medium and long term! In any case, a bet management is essential.