Can you get rich with sports betting? Not really. Can you make money with sports betting? Yes. However, you shouldn’t expect too much and it also requires a bit of discipline.
As always in sport, the focus is on fun and it should stay that way. But winning is definitely the most fun. That’s why we’ve put together a few tips for you on how you can make money with sports betting. First, however, we’ll clarify under what conditions you can really make a living from betting.
Requirements to make a living from betting
There are actually people who earn so much money from sports betting that they can live off it. However, these are people who had certain prerequisites for doing so.
start-up capital
Anyone who can make money from betting usually already has a lot of money. You can’t accumulate wealth with small stakes. A professional sports bettor must also have a high enough performance to survive dry spells. A rule of thumb is to have six months’ capital. Think for yourself how much money you need to live off of for the next six months.
discipline
Sports betting professionals have a lot of discipline and switch off emotions completely. They don’t sit in front of the TV and quietly enjoy a football match. Those who can earn money from sports betting and make a living from it constantly compare odds, calculate their stakes and only look at the numbers.
How can I make money with sports betting?
favorite tips
Anyone who wants to systematically make money with sports betting should not rely on high odds in the hope of making a big profit quickly. Therefore, avoid large combination bets. With combos, not only are the odds multiplied, which is of course an advantage, but also the probabilities, which is a disadvantage.
So, the more games you put on your bet slip, the lower the percentage chance that your combination will come through. You would therefore be exposing yourself to unnecessary risk and basing your bet on pure luck – this is against the sports betting rules for a professional or advanced sports betting enthusiast.
For individual tips, it is also advisable to bet on favorites with still worthwhile odds. You should also always keep an eye on the “Double Chance”, which protects you from a draw.
collecting information
The price doesn’t always say everything. There are often games where a favorite has worse conditions than expected. Is the top scorer injured? Is the game possibly unimportant because promotion or league position is already decided? Is the other team a real bogey team?
These and other questions are important if you want to make money from sports betting. You don’t have to be a statistician in this field, but working with statistics will help you with analysis and related predictions. Therefore, it is important to gain experience with the leagues and competitions you bet on so that your bet does not become a gamble.
Find the right bookmaker
Not every betting provider is equally suitable for making money with betting. On the one hand, the odds are important. Some bookmakers make significantly worse offers than others. Hence our recommendation to only use the best bookmakers in 2022.
One reason may be that the bookmaker does not pass on the 5% betting tax to its customers. It uses slightly worse odds to compensate for this loss. Just compare a few bookmakers in terms of odds, betting program and user-friendliness.
Your analysis will most likely lead to a favorite bookmaker. Tip: We have already presented the best bookmakers in this regard in the table on this page.
The payment methods also play a role
Anyone who wants to make money with sports betting needs to be able to deposit and withdraw quickly in order to react to good opportunities. Therefore, make sure that fast and secure methods such as PayPal sports betting or Trustly are available. There are several good bookmakers that meet such requirements. Sports betting professionals already use several betting accounts at different online betting offices.
Compare the odds
Professionals who make money from betting have several betting accounts so that they can quickly compare odds and choose their bets accordingly. There are some good sites on the internet that show you such an odds comparison at a glance. Wettmaxx.com is one example.
In which sports can I earn money with sports betting?
You can bet on the most popular sports such as football, tennis, basketball, ice hockey with almost every betting provider and thus theoretically earn money with sports betting on any sport.
In addition to football bets and the like, the betting program often includes sports that otherwise receive little attention, such as darts or table tennis, but also those that you may have seen on TV or streamed but have not yet bet on, such as darts, Formula 1 or winter sports. One bookmaker that offers the largest range of sports is Unibet.
However, we advise you to only bet on sports that you are actually familiar with. If you play football, football betting is for you. If you regularly watch basketball or the NFL, you could bet on these sports instead of football. In our experience, the success rates are higher if you already have experience with the respective sport. There is no general answer to which sport you can make money with when betting on sports; it depends on your preferences and level of expertise.