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Can you make money when it comes to sports betting?

There are many people that make money from sports betting, although there are also lots of people who lose money overall. Many customers treat betting as a social activity and don't mind losing a few quid as they place bets which give the potential of winning a big amount. If you are looking to bet in order to make a profit, then you need to work out a plan for how that might happen.

The first thing to do is make sure you are prepared to be disciplined. The most successful gamblers in the world are the ones that are patient and only bet on selections where they feel that the odds are too big for that particular selection. There's a concept called 'value betting' where people tend to create their own prices on a sporting event and then match them to what the bookmaker is offering.

In play betting is probably the hardest way to make money as you have little time to consider the odds and it's hard to compare the various prices with different bookmakers as the clock is ticking away. It's better to spend time looking at pre-match odds and working out a plan of action. Some people follow a staking plan where they have a gold, silver and bronze betting system according to how strongly they feel about a particular bet.

What strategies can be adopted to make money from sports betting?

The most important rule with betting is only gamble what you can afford to lose. Something else that's important to remember is that you will rarely make money from chasing your losses. One thing that's almost certain is that you will lose on some bets with the bookmakers, so it's a case of trying to work out a way whether you win more than you lose.

Of course, if you are backing 10/1 chances every time, then you only need to win on these twice out of ten in order to make a profit. Something you can do is decide on a maximum amount that you are comfortable with losing for a particular month and set that money aside from the rest of your funds. You should also decide on the sports that you feel you know most about as the bookmaker trading teams will also be knowledgeable.

A lot of successful gamblers will spend a lot of time studying the horse racing form or looking at the football league tables to try and determine bets that might stand out. For football, something that's definitely worth thinking about is looking at the lower leagues where the bookmaker sites don't take as much money as the Champions League. It's here where you can strike gold.

What's the best way to get an edge over the bookmaker?

The first thing to do is make sure you don't waste your free bet when you first open an online betting account! Many people get a free bet in their hands, think of the potential winnings and back a 20/1 horse that ultimately loses and they have lost it. It's worth having a good think about what your free bet selection will be as that could help you make a winning start and have a nice bet balance to start things off. There's nothing easier than betting with profit!

There are also some markets where the bookie has a bigger edge than others. While accumulator bets can produce a big return, we are yet to meet someone who has won by backing ten football teams in a multiple bet. Considering the draw and the opposition are runners each time, the chances of ten selections all winning is a remote one (more about football accumulator tips).

The same applies to bets like a scorecast where you pick the First Goalscorer and the Correct Score. That's a combination of two difficult markets to predict and the bookies will enjoy accepting your scorecast bets every weekend! Instead, it's worth looking at bets like Asian Handicap and Draw No Bet.

Asian Handicap betting gives the bookmaker a very low edge and it takes the draw out of the equation so you are betting on Team A to beat Team B with for example a 0.5 goal start. So they would only need to draw the match in order to make a profit. While match betting with the draw is a lot more popular, this is far riskier and the Draw No Bet market works in much the same way.

Similarly, you can pick five teams for the Saturday matches but combine them as trebles rather than put them all together in an accumulator. So for example, you could do 10 x 50p trebles which would be a total stake of £5 and you might make a small profit if 3 out of the 5 teams won their matches. It's often worth looking for bets which are going to provide you with some insurance.

What type of bets will help me make a profit?

For football betting, it's worth checking out markets like Anytime Goalscorer, Draw No Bet and Asian Handicap betting. You can also bet on whether a team will 'Win to Nil' which often provides far better value than if a side will simply win their match. The anytime scorer market is good as it's often unpredictable as to which player will score the first goal, although if a player is in hot form, then he may find the net at some stage of the match.

As we all know, anything can happen in a football match and that's why many punters instead like to bet on Antepost markets where they can bet on a team winning a particular division or a player finishing top goalscorer for that particular league. That way, you remove the unpredictability of match-to-match betting and instead enjoy your bets for a much longer period of time.

More information:
How to bet on football

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