Sports betting: a hobby or a way to make a living?

For many, sports betting is just a hobby that allows them to tickle their nerves. And someone turned this occupation into a profession that brings a stable income. In this article, will tell you whether you can make a living by making a bet.

Let’s say right away that you can make money only if the player does not count on luck, but studies theory, tries to apply various strategies in practice, analyzing statistics and other information.

Prospects and Risks

Experienced bettors can earn several thousand dollars a month, while beginners can earn up to $50 a day. But such people treat bets like work and make bets extremely deliberately and rationally, the excitement only hinders them. Those who place bets based on intuition will never turn betting from a hobby into a source of income.

The main danger for a beginner is that he can lose all the money. Even experienced players are not immune to failures, but they know how to quickly compensate for losses.

Typical mistakes of beginners and ways to avoid them

Novice bettors often make the following mistakes:

  • play chaotically, without a strategy;
  • give in to the temptation to bet on the underdog to win a lot in one go;
  • put money borrowed;
  • trust scammers;
  • unsuccessfully choose a bookmaker.

Any bettor should remember that as a bank, you need to use the amount that you will not be sorry to lose. Another important principle is to never bet everything on one event, even if you think it will happen with 100% accuracy.

Before you start betting, you need to learn the theory, read up on how the odds and betting works, choose a suitable strategy and keep up to date with sports news and statistics.

Be attentive to those who suggest talking about the results of fixed matches for money. In most cases, such people turn out to be scammers.

As for bookmaker companies, it is better to choose trusted bookmakers that have a license and many years of experience. Also, to make money, it is better to choose bookmakers with high odds, low margins and a narrow action line (the more events, the lower the odds). It is not uncommon for professionals to collaborate with several bookmakers to find the best bets.

About Marcelo Villa

Marcelo is an associate editor at The Sports Daily, and has covered the San Diego Chargers for Bleacher Report. He also writes for Sportsdirect Inc.