If you have always been a fan of sport but never made as a pro, then maybe the answer to making money from the one hobby you most enjoy is sports betting. Although it is not easy becoming a professional sports bettor, there are opportunities and ways to make a living from sports betting. In this article, we look at 4 available options.
It is not easy becoming a successful sport betting pro, but as with anything in life, if you put your mind to it, you can achieve anything! We also encourage you to look into investing in sports betting stocks which is not making money out of sports betting per say, but it is a connected subject.
Offering Odds on Sports Exchange Markets Online
Exchange markets are where you can become the bookie or poach out of the ordinary odds provided by individuals on the exchange. We are going to talk about becoming an online bookie. Some of the most well-known sports betting exchanges are BetFair and Bet365. Both of these websites give you the opportunity to open an account and offer other people odds on sports events.
If you understand horse racing or greyhound racing, then these are some of the most profitable markets to offer odds on. However, if you want to become a pro, you need to be careful how you use the sports betting exchanges. You could just as easily end up losing.
Using Sports Exchange Markets to Hedge Your Odds
One of the arts of becoming a successful online bookie via an exchange is understanding how to hedge bets or odds you offer by placing bets on other markets. You can then calculate your margin so if those that took the odds you offered on the exchange win, you have a fall-back plan. Think of it like taking insurance!
You do not even have to offer odds on these exchanges to make money. You can also use them to scout excellent odds for particular sports, place your bet, then use sports betting websites to hedge your bets or vice versa. As we mentioned, this is not easy, and will take time, patients, and knowledge to get to a point where you can make a living from sports betting.
Start an Affiliate Sports Betting Website
Another fun way to make a living out of sports is to start a sports betting website. This is also not an easy task but all the same, if you love sports and betting on sports, then you should find creating an affiliate sports betting project enjoyable.
Once you have signed to multiple affiliate sports betting programs, you can review the online bookies the affiliate program supports. From here, simply add your affiliate link to the review and if someone likes the sports book, they can click through and sign up. Once this happens, you begin to earn affiliate commission for every bet placed.
Also, once you build up a good rapport with the affiliate program, you can start to offer unique bonus deals pre-agreed with the affiliate. For example, you could offer no deposit bonus if someone uses your website to sign up to the sports book you reviewed. You can see how no deposit bonus deals work here. Some sportsbooks already have no deposit bonuses while you can tempt people via a unique no deposit offer for sites they would not otherwise get a free bet bonus if they signed up directly and not via your website.
Understanding & Grinding Stats
One of the most challenging ways to earn a living out of sports betting is simply becoming an expert or specialist in a particular sport. Some people are incredibly successful and have systems in place that work, but these are not the systems you see being sold online. These are private sports stats strategies that these people keep a secret. Sports where stats really matter include basketball and baseball, while football, a.k.a. Soccer in the US is much tougher to predict. In all the above scenarios, making money from sports betting is no easy feat. You need to dedicate the same amount of time you would dedicate to having a full-time job because if your sports betting endeavours are paying the bills; it is essentially full-time freelance employment. This is exactly the same with making money online with any job!
Find more interesting articles in our section on Horse Racing.