How to make money on online betting. Tips for beginners

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Online betting can bring enjoyment as well as become a source of income. People who gamble in one online sports book from time to time just for fun mainly rely on luck, but experienced punters focus on the long-term strategies that are based on the analysis and planning.

If you want to make money on sports betting, you have to be ready to invest your own money and lose much at the beginning. Bettors who make their living on sports wagering advise to treat sports betting as a business that requires seed funding to start, and takes time to be compensated.

In this part we will consider things that you have to avoid to reach success in sports betting. Of course, you will make many errors anyway before you develop the strategy that works perfectly for you, but there are some basic points that will hardly work no matter what you do.

Briefly, such mistakes are:

  • spending huge bankroll at once;

  • betting on totalizers and express bets only;

  • betting on the favourite teams and players;

  • betting on the illegal platforms;

  • placing stakes on the sports you are not quite aware of.

Generally, all of the listed things are quite obvious, but let’s comment on them a bit more detailed to finish this topic. 

First of all, if you want to earn money, you have to control your budget. It is a mistake to suppose that the more you spend the more you will gain in the end as a compensation. If you place stakes with no idea of how they are going to work in future and you have not developed any kind of strategy, you will most likely just lose all your money in vain. It is recommended to monitor all expenses as well as profit, and write them down in a special file. The best thing will be to determine the amount you will spend on betting from the beginning and never go beyond it, even if you see very luring odds for an event with quite an obvious outcome.

When we mention totalizers in the no-go list, we do not mean that you are prohibited to place stakes with them at all. However, it is not reasonable to stick to this betting type, as the winning amounts there are very high, and the higher is the prize, the lower is the possibility to get it. It is not a good part of the long-term strategy, so it is better to do it just for the sake of diversity.

One of the rules many professional punters strictly follow is control of the emotions towards a certain player or the team you support. If you can not help betting on the favorite team and it is impossible for you to be objective when it comes to your national teams, it is better to skip betting on the matches where they participate. 

It is quite obvious with illegal platforms: if there is no license that bookmaker holds, or this sports betting site is banned in your country, you will be absolutely unprotected in case of any sort of scam, for instance, if the bookmaker does not confirm your withdrawal. Be aware of the sites you use.

Finally, successful betting is not possible if you do not have an idea of sports you want to bet on. To make at least some profit, you have to monitor everything connected with the upcoming events, be aware of all changes happening in the life of the players, know how the teams play at home and away — many details are required, so if you watch a couple of games, you can place your stakes for fun and even probably win something, but it will not be enough to earn on the regular basis from the betting sites.

There are different ways of how people make money on betting, so there is no universally applicable instruction. However, there are some steps that will get you closer to creating the most working technique

When you just start your career as a gambler, do not try to make some complicated bets like Asian Handicaps. To see how online bookmakers work, wager on some popular teams who play against the obvious underdogs. The odds bookmakers give to such markets will be a hint for you: when the bet is mostly likely the winning one, the odds will be really low.

 

When you learn how to make simple bets and feel that you are quite confident in your forecasts on more or less evident outcomes, try to make a more thorough analysis. First of all, your main helpers will be an official statistics website, where it is recommended to check the last 4 or 5 games of the team — such a number is enough to predict how they are going to perform in the next game; the earlier matches are not so important. Besides statistics, you have to check all information available on the Internet: latest injuries of the players, spirits of the team; even news of the members’ personal life can matter as it may be an implication of their mental state which is also essential. Such research requires a lot of time and effort, but it is not a thing you can neglect.

This strategy has been considered as the most winning one recently as it always brings profit if you do everything correctly. The idea is to find two opposite bets for the same event with the difference of odds from 4 or more. It can be two bets in one sports betting website: sometimes live markets are added with delays and this is a chance to find options for spread; in addition, some gamblers use two different betting sites for the arbitrage bets. 

If you do this on one platform, you have to note that online bookies tend to block people if they use spread betting too often.

You have definitely seen Instagram and Twitter accounts that offer sports forecasts — free of charge or for a certain amount. Many beginners want to rely on such experts — and lose in most cases, as part of them are just scammers, and another part is just giving their point of view. You can follow their opinion, but if you do not learn how to forecast yourself, you will not succeed in sports betting.

While you learn, you will lose money and make mistakes; however, if you want to make money on betting, you have to remember that this is a risky business that will pay off only if you do it reasonably and regularly. Gamble responsibly and do not forget that your income can not be guaranteed.

 

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