Can You Make Money from Sports Betting?

Many people spend time studying the form of horses or sports teams to see where they should bet their money.

 

There are also the kind of gamblers who will pick teams on a complete whim, hoping that their couple of dollars will turn into big winnings. If you had correctly predicted that Leicester City would win the Premier League last year, you would have got amazing returns of 5000-1! Now, not all Premier League betting allows such margins, and Leicester winning was nothing short of a miracle, but if you had been one of those lucky people that backed Leicester, you would have be laughing all of the way to the bank.

 

It isn’t easy to predict this kind of win, so it really isn’t that easy to make money this way. However, there are some types of sports betting that will provide a lower risk of betting that can make you some money. One area of betting that sports gamblers try to exploit is arbitrage betting. If you haven’t heard of this concept, then you’re not alone. The way that the opportunity to make money opens up is by bookmakers having different odds to one another.

 

So if you were to back one team through one bookmaker and you saw that another bookmaker had equally good odds for another team, by betting on both, you would be getting money back with either result. Whilst bookmakers are always reviewing their odds to make sure they don’t open up too many opportunities like this, there are companies that make money out of developing algorithms that help identify these opportunities for people.

 

The example used here was a very basic example, and usually there are a lot of calculations required to identify a possible low risk betting opportunity. The other important part is being able to calculate exactly how much you need to bet on each result to be sure of a profit. For sporting events where there are only two outcomes, this is relatively easy, but when you have an event with many athletes taking part, it can get seriously complicated.

 

Another way that some investors make money from sports betting is through something called Compound betting. The way that this works is through placing large sums of money on sports fixtures where the result is considered to be a foregone conclusion. The likelihood of losing is minimal, but there is still a risk that it could be lost. If the bet wins, the investor wins a small amount and then invests it in the next, similar bet. Over a period of time, this can build up to large profits, but there is always an element of risk.

 

So, to answer the question, yes you can make money from sports betting, and some betting is lower risk than other types, but there is always a risk involved. Make sure to thoroughly research before placing any type of bet.