Can we make a living from betting
In this article, we will introduce you to the basic rules that you need to know before you start betting seriously and must follow, and then we will explain some methods that are used by all major players in the world and through which you can really make a living from bets. These are basic principles in this business, but they are just the beginning. How you implement them and whether you have the determination to achieve your goals is entirely up to you.
We will not lie to you that reading this article you will be aware of everything. We will give you a lot of advice and guidance, but we can’t give you the experience. There is no single answer to the main question. The truth is that few people will say “I make a living by betting”, but isn’t that the case with everything else? The best answer is yes and no. Some people can do it, not just because they follow the rules completely, but also because they have the talent and flair for it, and others fail.
Yes, it’s the same as any other endeavor. For example, let’s ask ourselves the question “Can I become a football player?”. Yes, you can under certain conditions and with certain qualities, and you can’t for the same reason. Most people do not become footballers, and very few are Ronaldo, Messi, Mbape, van Dijk, etc.
Of course, bets are different because they do not require age or a diploma. However, it requires quite serious preparation, perseverance, and psyche. Keep in mind that all of these methods, which we have described below, apply mainly to football, but can easily be used in almost all other sports to generate income from bets. The aim is to understand the logic and the overall concept of betting as an industry. So, let’s move on to the rules.
Basic rules for betting
Some of these rules are certainly familiar to you, but you can’t ignore them. You have to keep them in mind, because they are something like principles, and deviating from your principles can go in a very wrong direction.
Set your goals
What do we mean by having to set a goal? For example, you want to make a profit of 10,000€ within one calendar year. In this case, you need to divide the months of the year, to predict when you will bet more, when less, when are the biggest draws, the most suitable matches for predictions, etc. Set a long-term and short-term goal. A short-term goal can be a profit for a specific month.
Setting a goal may seem simple, but if you’re really focused on that goal, your predictions will become much easier to make. When one knows what he wants to achieve, one simply acts more confidently. From the years of experience, we at Betinum have in this industry, we assure you that this is the case.
Once you have set a goal, you need to figure out for yourself which is the most appropriate betting style for you. I.e. whether you will bet on singles, Accumulators, etc. You also need to keep track of which types of predictions are best for you, which odds you are aiming for, and which odds are not good for you (big/small). Just try, lose, win, make mistakes, write them down and learn from them.
Creating a bankroll
Once you have set your goals, you must set aside a specific amount for bets or set aside each month. This is not such a simple task. You see, even if you are successful and often succeed with the predictions of the matches, if you do not control your bank and finances in general, you will simply not get anywhere.
Set aside only money that you can afford to lose and in no way depend on it. It is best to set your budget for months. So you will start each month with a certain amount and at the end of the month, you will calculate what’s your net profit/loss. You will see how you move according to the plan and how close you are to the big goal.
You will then decide on a bankroll to start next month. Make general statistics constantly. This process, combined with other factors in making predictions, takes time, of course, but you need to be aware of this before you begin.
Choosing a bookmaker
There are no restrictions when choosing a bookmaker. The only advice is to stick to reputable and well-known bookmakers. It is important to know that the main goals when choosing bookmakers are to make their platforms convenient for you to use, to have the types of bets you play most often, and to have convenient payment methods. The steps for creating an account are almost the same everywhere.
However, it is very important to have registration in at least 3 bookmakers, because in this way you will be able to choose the best odds, take advantage of more bonuses and use some betting schemes, which we will describe below in the article such as Arbitrage.
Odds just matter
Amateurs choose the winners, and professionals analyze the odds. If you want to be successful in sports betting, don’t just try to know who will be the winner of the match.
Professionals are trying to see if any of the odds does not hide a good chance to bet against the possible profit and the probability of the prediction to be obtained. If you are just trying to predict the games, then you do not take this activity seriously enough, so you can not be successful in this endeavor.
Rational use of knowledge
Entering the world of betting, you have to start somewhere where you know at least a little about the subject. The rational use of knowledge is key. Once you get to bet on football matches, then you like football. Most likely you have a favorite league and a favorite team.
If so, then you certainly follow this team and the league much more than the others. For example, it is not logical to be interested and know what is happening in the English Premier League, and your first bets are on matches in the Swedish Allsvenskan, where you have heard no more than 2-3 teams. Stick to what you know and don’t be distracted by unfamiliar leagues, teams, and types of bets.
Find out as much as possible before betting on a match
Getting acquainted with the most basic information before the start of the match is mandatory! Even if you are sure of your decision, you are obliged to check what happens to the teams before the match. For example, one of your main matches is Everton – West Ham and you have decided that the hosts will win the match. You can see, however, that Everton have only 1 win in their last 6 home games against West Ham.
This is a sign that the Blues have been playing quite hard against their London rival lately. In addition, it turns out that Everton has four main absent players, and their squad is not so big right now.
After such, at first look, basic information, you can change your mind about the match and not play it. Whether the initial prediction comes out after that or not, you will gain experience and at least you will not bet chaotically.
Focus and discipline
This may be a cliché, but it just can’t be more true. The trick is to know that when Sunday comes and there are dozens of great betting matches in the draw, you will know exactly what you want to achieve from today, how much money you need to earn, how much you have prepared, which matches you will pay attention to, how you will act in case of possible problems and many other similar tasks that you will set yourself in practice and after you have this attitude, under no circumstances should you be distracted by other matches for which you have not planned anything.
You can’t afford to relax and gamble indiscriminately for fun. If you want to be as good at it as possible, just don’t do like the others, because if you do like the others, your results will be like the others – losers.
How to make money from football betting online
Once you gain some experience, study yourself a bit in betting and understand some of the intricacies of them, it’s time to move on to the essence. With some of the methods below, you will be able to really make a living from it as long as you have the skills to handle the most important tools. We have chosen specific techniques because we believe that through them there is a fairly large base for development in bets.
Value bets
They are an extremely underrated but incredibly important approach to betting.
The coefficient determined by the bookmakers has a theoretical dimension in percentages. For example, a bet at odds of 1.50 has a 66.67% chance of winning. If you think that its probability of happening is much higher than 66.67%, then there is value in it. However, if you think the probability is a little over 66% or below 66%, you should not make this bet.
probability is a little over 66% or below 66%, you should not make this bet.
This is a fundamental rule, especially if you bet larger amounts. In the paid section of most sites, there is a table with the probabilities in percentages of odds from 1.01 to 20.00. There is a special formula that calculates whether a bet has value and in Betinum we will soon create calculators for this purpose.
However, with these bets, everything ultimately rests on an individual assessment of the real, in your opinion, probability of the given prediction, but this way you will have a much clearer idea of whether it is worth playing or not.
Implement well-crafted strategies
There are different types of strategies and people always wonder if a strategy is successful or not. There is still no answer to this question. For some strategies will be successful, for others, not the other way around. You need to know that there is no way to find a universal strategy for 100% success. Such do not exist. We have a whole article on betting strategies, so we recommend that you review it, because there we have described all the main types and explained how they are applied with examples.
In addition to strategies, it is important to learn some important betting tips and tactics that no one will tell you when you start with this business.
Arbitrage
With more time, patience, and observation, arbitrage bets are a sure way to make money. That’s right – sure, but there’s always a catch, right? Firstly, it is very difficult to find such game, secondly, you must be registered with at least 3-4 bookmakers, as we wrote above and thirdly, you must be extremely careful with bets so as not to limit your account, as bookmakers are not fools and know about this method.
What exactly does Arbitrage mean? This is a search for opposite types of bets, whose total probability expressed in percentages is over 100%. Here we return to the topic of value betting. Odds represent a certain probability expressed as a percentage. Ideally, the sum of the odds of 1, X, and 2 in a match expressed as a percentage should be 100%, but in most cases, it is below 100% and this difference is called the margin, which is the real profit of bookmakers.
In Arbitrage, however, you are looking for a sporting event in which in three different bookmakers, for example, the sum of the odds of 1, X and 2 will exceed this 100 %.
Example:
The match is Newcastle – Leicester. In one bookmaker the odds for the hosts to win are 4.40, in another, the odds for a draw are 3.80 and in a third bookmaker, the odds for the guests to win are 2.27. You cannot find these odds in a separate bookmaker, because if you divide 420€, for example, in specific portions, you will gain profit in any case.
Here’s how – you bet 200€ with the first bookmaker for the victory of Leicester at 2.27, you bet 120€ at the other bookmaker for Draw and 100€ at the last bookmaker for victory for Newcastle at 4.40 odds. You can see for yourself that no matter how you finish the result, you will be at a profit of between 34€ and 40€.
There are calculators that calculate arbitrage bets, as well as odds sites that look for those at certain events, so you don’t have to do all this yourself, but you still have to be very careful and patient, because there are a lot of obstacles and hurdles in this method.
Trading on betting stocks
The advantage of this method is that the online bookie also offers a betting stock where you can bet against other players and not against the particular bookmaker. This is not only expanding your options, but also getting opportunities for higher odds, and therefore for bigger winnings.
Here’s another way for arbitrage. This way you can show how accurate your judgments are by competing with other players. The only condition here is that the bookmaker takes a small commission from this.
Trust professional tipsters
Most bettors start their careers on their own, but then realize the benefits of working with a team of other betting experts. Professional gamblers always try to get inside information. They know that if they get the right type of information before bookmakers, they will be able to make a lot of money.
They also know that inside information, no matter how valuable it may seem, is only part of their overall analysis. Don’t give too much credit to just one part of the overall picture of the upcoming meeting. Evaluate all available information before placing a bet.
At Betinum we rely on the best tipsters, thanks to which you will not need to follow anything because they will help you with everything you need. By subscribing to our paid predictions you will get very high win rates, ready-made strategies and you will learn a lot about betting over time.
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