I have always been fascinated by beating the casino at their own game and in with the financial crisis in full swing that fascination became an obsession. But after lots of trial and error, experimenting and false starts I finally was able to turn that obsession into a career and make money gambling. Over many years it was my full-time job, making over a million pounds along the way.
I started with matched betting and then moved to arbitrage , while dipping my toes into every other form of professional gambling. In this post, I take you through seven different ways to make money gambling and talk about their pros and cons. But before we start, if this is all new to you I really recommend starting with Matched Betting as it is the easiest and least risky.
Here is my detailed how-to guide on Matched Betting. Matched betting is the easiest way to become a professional gambler. It is where I started and over the years has made me a lot of money. And if done correctly it is risk-free. Most online gambling sites offer promotions such as free bets to try and get you to sign up with them rather than their competitors. If you are clever you can hedge your bets and whatever the outcome withdraw most of the free bet. I have a detailed free introductory guide to matched betting.
After that, you will want to sign up to one of the matched betting services like Oddsmonkey. It is free to sign up and will work you through your first few matched betting offers. You simply work your way through the list. Oddsmonkey has a few competitors which you can compare in my guide to the best matched betting subscription services.
Matched betting is probably the easiest way to become a professional gambler but does have an earnings cap. Then once you have exhausted matched betting you can move on to making money from casino bonuses. Even more profitable but quite a bit harder. Value bettors are often world-leading experts in one particular team or sport. They know everything about it, more even than the oddsmakers at the bookies. They take all that information and make their own odds. If their odds are drastically different to what the bookmakers come up with, they will bet the difference.
The value bettor is probably the purest type of professional gambler. They are not using loopholes or bonuses, instead they make money gambling by beating the bookies at their own game. I have a detailed free introduction guide to value betting.
Warning , it is not an easy way to make money gambling! Once you have started creating odds I suggest paper betting with fake money to test out your edge before you start spending real money. Once you are ready to use real money, you need somewhere to bet. So most professional gamblers will instead use a marketplace based sports betting exchange such as Betfair. Sports betting arbitrage is where I have made the most money as a professional gambler. It was even the subject of my university dissertation.
Very simply, imagine there is a tennis match going on. If one bookmaker believes player A is going to win and the other bookmaker believes that player B is going to win, then they will price their odds very differently. If the difference is big enough you can bet at both bookmakers on opposite players so whoever wins the match you will make money.
The hard part is stopping your accounts from getting closed. Although arbitrage betting is completely legal, as soon as the bookmakers realise you are a professional gambler they will limit or close your account. Everyone has heard of traditional bookmakers, but have you heard of betting exchanges such as Betfair? They are markets modelled on the stock market where punters can buy and sell bets. That means you can trade in and out of a single bet multiple times and lock in a profit before the event even happens.
I wrote a pretty detailed post on my experiences sports trading here. I had some initial success and was making money, but struggled to scale up. There are lots of books on Amazon about the stock market or algorithmic trading. Whenever I used to tell someone I was a professional gambler they assumed I meant poker player. It is definitely the most well known and well-understood way to make money gambling, but that means it is also one of the hardest — because everyone is trying it.
The commission that the casino takes from each hand. To successfully make money gambling with poker there needs to be a very large gap between your skill level and that of your opponent. The people making the real money in poker are not the famous names winning the big tournaments, but the anonymous professional gamblers sharking on not very good players.
Many recreational bettors wager on big events across a range of sports, but advanced punters will hone in on one specific competition, more often than not. It is also worth being an expert in something that is less mainstream — for example, Polish basketball — as your knowledge may indicate to you that the odds may not be completely accurate. Shop around for the best odds.
Regardless of your opinion on how a match will play out, the odds are the only thing that should dictate whether or not you bet on it. It should only be a bet if you genuinely think you are getting good value. For various markets, there may be some difference between the odds across different betting sites. This is why it is crucial to look for the best price, rather than just settling for whatever you can see on the betting site you are logged into. Be sure to compare odds across a selection of bookmakers.
It is hard enough to win bets as it is, so you want to be paid out properly when you do manage it. Claim betting offers. The vast majority of online bookmakers have betting offers and free bet promotions for users to take advantage of, and many of them are well worth a look. Betting sign up offers can be very lucrative, and often come in the form of free bets of a deposit bonus. Existing customer promotions are also excellent, as you can get free bets, enhanced odds, and more.
Keep an eye on the promotions section of the betting sites you are registered with, and make sure you have opted into anything that could be beneficial. Maintain your discipline. This is a vaguer suggestion, but discipline is so important in online betting.
Some punters like to keep track of all of their bets through a spreadsheet, and this might not be a bad idea if it helps you see what you are doing well and where you may be going wrong. Necessary cookies are absolutely essential for the website to function properly.
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If you want your betting career to have a long-term future, you need to pace yourself with your stakes. I recommend separating your balance into 50 units. This allows punters to fully recognise the value of stake they are placing per bet and allows them to better plan their long-term strategy.
In my opinion, self-reflection is one of the most underrated qualities in any industry. Not many people know how to criticise themselves without letting emotions get in the way. Keeping a record of your betting activity and analysing which markets you should stop focusing on and which are making you the most money is a good way to optimise your bets.
This means that means some bookmakers would offer better value in certain areas than others would and vice-versa. Having multiple betting accounts would allow you to take advantage of multiple betting markets that bookmakers have to offer. This is a good way to maximise your returns and find out which markets you should be focusing on. The fewer selections, the more of a chance that you win your bet.
As obvious as this sounds, most punters get swayed by the potential winnings and lose all common sense. If you wish to increase your winnings from a certain bet slip, you are better off increasing the number of units you have placed on outcomes that you are certain on, rather than increasing uncertainty by adding outcomes you are less knowledgeable on.
I particularly like in-play betting as you have more of a basis to your predictions. One of the main reasons sport is so exciting to follow and gamble on is its unpredictability, the capability of defying the odds week in week out. Betting based on the actual performance rather than pre-event statistics such as form is a much more reliable form of prediction.
Betting on a stressed mind is not an intelligent thing to do, this will lead to miscalculated decisions and ultimately lost capital for one to make future bets with. Taking a week off will allow you to regain composure in your thoughts and revise your betting strategy to make sure you are putting your time, effort and money in the right betting markets.
Sticking to sports you truly understand in allows a user to make insightful decisions that would not be possible if just based on pre-match statistics. Sports is too complex to be based on just statistics, there is much more to it than that and anyone who follows a sport knows this. How much to bet every month? How large are the units? To be able to make money out of sports betting, you need to think of it as an investment. Furthermore, you always have to review every bet you do. But if you get a winning strategy and stick to it — it is possible to make money sports betting.
This our guide on how you can make that happen. There are lots of different ways to copy bets from professional tipsters. Either you can pay for these tips — or not. Of course. But there are good free alternatives. The downside is that you get the tips a few hours after they are published, which means you may not get the same odds as they report.
Also, both Tipstrr and Betting gods offer a variety of tipsters. Both free and paid services. If you are not, then sports betting is not for you. Sure, you can be sure that a favourite of odds 1. Maybe this sounds a bit strange, but the less the public and attention a team gets — the more value.
Especially a team that has done well for a long time, but for some reason, had a slight dip in the last games. If everyone skips bets because the match does not seem exciting or the team in question has been bad — then the odds can be in our favour and once again, a value has appeared, and you will make money betting on them. Some players may be able to achieve success in the short term through betting based on emotion and instinct but to succeed in the long run; you need to be more analytical and familiar with different names and, for example, if the odds reflect the probability, etc.
Betting is a game of numbers — and you should have reasonably good control of the counting methods. However, this can be tricky. If you are serious about your betting, you might want to try Betegy. Betegy uses analysing models, just as Bookmakers. And the development and regression of a football team will be analyzed and the result is often reliable.
Betegy aims to give sophisticated and well-analysed betting tips. It means that Betegy can say where to spend the money for the greatest success. Betegy uses an algorithm developed by sports lovers for sports lovers. Their efforts to offer highly successful product bettors have proven to be more profitable than others. My personal favourite is BetBallers.
It could be, for example, the racing tips. As the public on average has an inferior track of the horses, the odds are favourable for us as we are gamblers with more control of the situation. Choose a good bookmaker, read our full list over the best betting sites.
It is also important not to get bogged down in any false security after a few wins in a row. Be harmonious, passionate and smart. We are all different, and if you know that you have trouble keeping your emotions in control, then you have to start with yoga or something else that can calm your mind.
Combination games, jackpots and other lures from the bookmakers and betting companies are usually not a good idea if you want to make money in the long run. The regular player usually adds an extra match to find slightly higher odds. To make money sports betting is often just a dream. It would be fantastic if you got rich overnight.
It is definitely the most well known and well-understood way to make money gambling, but that means it is also one of the hardest — because everyone is trying it. The commission that the casino takes from each hand. To successfully make money gambling with poker there needs to be a very large gap between your skill level and that of your opponent.
The people making the real money in poker are not the famous names winning the big tournaments, but the anonymous professional gamblers sharking on not very good players. If you want to start learning strategies and eventually make money gambling, that is a great place to start. If you really get into it you will probably end up with accounts at all the online poker sites, so you can make the most of the welcome bonuses.
But if you are looking for a good place to start I recommend Betfair Poker. A Betfair account is pretty useful to have and you can use it for some of the other ways to make money gambling. In short: Keep track of what cards are left in the deck in a game of blackjack, so you can bet large when the odds turn in your favour. You may well have heard of card counting from the film The Hollywood adaption of the true story of a team of students from MIT who made millions card counting playing blackjack in Vegas.
Card counting is really difficult and casinos have got very good at making it difficult to make a lot of money from it so they actually welcome in amateur card counters. I went to Vegas to try my hand at card counting. But it is possible and there are plenty of successful professional gamblers who do it. Just be prepared that it is very difficult and not particularly glamorous. This is because they shuffle the deck after each hand.
So if you are going to do it you need to go into physical casinos. But there is one other type of professional gambler. The cheater. And be warned, people do go to prison for cheating. I am not going to teach you how to cheat at gambling, but if you are interested in the history of it there are some interesting stories. Here is a documentary on YouTube to wet your appetite:. I recommend starting with matched betting. It is by far the easiest and although it is limited in the amount you can make, it is a good gateway into professional gambling.
Almost every online casino has some sort of welcome bonus to help try and persuade you to sign up and use their website rather than their competitors. With a little bit of thought and cleverness, we can take these new-player casino bonuses and convert them into This article is aimed at people who have at least a basic understanding of sportsbook arbitrage.
I succeeded and never looked back. At the time I had This is the essence of value betting. Value betting was the final and most profitable step of In this Oddsmonkey review, I will take a look at how useful Oddsmonkey is to a matched better. Ask if it's worth the money, and compare it to its competition.
When I started Matched Betting used to spend most of my time trawling through forums and review sites In this article, I will introduce you to the concept of Half of the advice is marketing material and another half is completly out of date. So over the last couple of months, I have teamed In this Profit Accumulator review, I will take a look at how useful Profit Accumulator is to a matched better.
For years I have been obsessed with trying to make money trading on Betfair. And like any overly optimistic sucker, I have spent an enormous amount of time and money researching and looking into different systems. The closest I ever got to making it work was when I It is almost nine years since I took my first few nerve-racking steps and signed up to a bookie with the aim to make some 'easy' money from their sign-up up bonus. In the My name is Sam Priestley and I would like to welcome you to my blog.
Further Reading I have a lot of posts and guides about professional gambling. Here they are:. Subscribe for an email every time a new post is released. First Name. Email Address. There is no perfect combination for your ticket.
Sometimes you will have to look for the best odds, and combine them with your intuition, preferences, and personal opinion. If you put a dash of knowledge into that, you will develop a strong strategy that is based on facts, and increase your chances. As we said, the odds are almost equal on every website, but we recommend you to compare them regularly because, in the small differences, you will be able to recognize your chance and bet on that game.
Discipline is crucial if you want to maintain healthy betting habits, without getting addicted to them and losing huge amounts of money. You can develop it before you bet, or you can adjust it while you play, but the most important thing is to stick to what you promised, so you can avoid unpleasant situations. It will also help you play smartly, without letting you make quick decisions. Keep your eyes on the balance, and never overstep the budget, so you can have more options, and reduce the chances of losing your money.
Sports betting, no matter if online or real-life, should be your hobby or entertaining activity in the spare time. Also, if you are ready to enter this world, you will have to start smaller, follow the attractive offers, claim your bonuses, and use them to bet again and again, until you learn how to use the tricks that are increasing your chances.
And when it comes to registering to an online betting website, you must keep in mind that only the legal, certified, and reliable platforms will provide a transparent and professional service to the customers. Save my name, email, and website in this browser for the next time I comment. Sign in. Log into your account.
Password recovery. Recover your password. Forgot your password? Get help. Source: oglasi Sports Betting Odds Explained. Please enter your comment! Please enter your name here. You have entered an incorrect email address! Miran Brandon - February 10, 0. In fact, cutting them