How to make money on sports betting: five tips and strategies for beginners
Making money in bets is a difficult and time-consuming job. To get a stable income, you need to study many betting strategies, figure out ways to minimize losses and analyze each match. The money and time invested are unlikely to pay off right away - even to break into zero over a long distance, you need to improve your tactics for several months.
Despite the difficulties, there are professional bettors who make money betting. For them, betting is the main job to which they devote most of their time. We will tell you what methods are used by cappers and give some tips to improve the profitability of bets.
Choose a bookmaker
The level of your earnings in bets and the comfort of the game depend on the bookmaker. When choosing, pay attention to the line and list, the size of the margin and bonus programs for new and existing customers.
List is the number of bets for each match. A line is an assortment of available rates. This includes sports, tournaments and championships. Some small bookmaker companies focus on specific sports. For example, GGBet bets on e-sports, while Parimatch and Bet Boom accept bets on any kind of sports.
The bookmaker's line determines how many betting options you will have every day. This applies more to unpopular sports. The line for football and hockey is about the same in all bookmakers, and, for example, not all companies accept bets on table tennis.
The list helps players to vary the strategies and options for wagering. Some bookmaker companies offer an extended list of bets on individual tournaments. For example, in one bookmaker you can only bet on the outcome, total and handicap, and in another - on the exact score, the Asian handicap or the goal at the end of the match.
Margin is the commission that bookmakers put into the odds. This is how bookmakers make money on winning bets. The more popular the sport and the tournament, the higher the margin, and vice versa. Your income depends on the margin: the less it is, the more you get from each bet.
- If the opponents have equal chances, then without margin, their chances should be estimated with a coefficient of 2.00. With a bet of 1,000 rubles, you will receive 2,000 rubles.
- With a margin of 5%, the win rates will be lower - at 1.90 each. A bet of 1,000 rubles will bring you 1,900 rubles.
- If we increase the margin to 10%, then the ratio will decrease to 1.81. Here your profit from 1000 rubles will be 1810 rubles.
The difference between the margin of 5% and 10% was 90 rubles from the rate of 1000 rubles. It seems that this is not much, but at a distance of 50 bets, you will receive less than 4500 rubles.
Understand the rules and wording
The rules in each bookmaker company may differ from the rules in other bookmakers. For example, in football in all companies, bets are calculated based on the results of regular time, but yellow and red cards are taken into account differently. Therefore, before you start betting, figure out how the company calculates the bet and from where it gets information about the statistics in the match.
The rules section is most often found at the bottom of the site. Also, some bookmakers maintain a knowledge base in which they explain in simple language the rules for accepting and calculating bets.
Some betting options can be confused. For example, the conditions for calculating the usual total and Asian total are different: in the first case, you bet on one event, in the second - on two, and the bet amount is divided in half between them.
Betting strategies help to make money in sports betting: to steadily increase the bank or win back after losses. Each sport has its own strategies, they are based on the characteristics of statistics and performances of athletes. For example, in men's tennis there is a betting strategy for the serving player to win, but in women's tennis it does not work due to unstable serving.
There are several versatile strategies that work in any sport. In them, you choose events on your own: there are restrictions only on the odds, types of bets and bet amounts. Let's talk about three such strategies.
Dogon is a betting strategy that helps to recoup in a losing streak. After a lost bet, the player increases the amount according to the formula and places a bet on a new event. The very first win pays off all the money put and brings the player to a plus.
The amount of the bet according to the catch-up strategy is calculated by the formula:
S = (W + Sn) ÷ (k - 1)
- S - the amount of the bet;
- W - potential winnings of the first bet;
- Sn - the amount lost during the strategy;
- k is the coefficient of the event you want to bet on.
The catch-up strategy has two drawbacks:
- You need a big pot, so catching up is not a good bet to make money for newcomers to betting. The bet amount is constantly growing - the lower the odds of the selected events, the faster the growth. To recoup, your account must have 100 times more money than the first bet. Otherwise, you may not have enough money for the next bet and you will be left in a big loss.
- This is not a win-win strategy. All bookmaker companies have a maximum bet size, which depends on the individual account restrictions, odds and sport. With a long losing streak, you run the risk of running into the ceiling of the bet amount - then you will not be able to make a profitable bet. To stay within the maximum bet limits, bet on events with odds higher than 2.00 or choose popular sports - they usually have a higher maximum.
Oscar Grind's strategy helps to grow the pot through a series of bets. The player sets a goal - how much the bank should increase according to the strategy results. After that, he chooses an event with odds of 2.00 and makes a bet that, if he wins, will immediately reach the goal. If the bet loses, he makes a bet for the same amount, and if he wins, he doubles. The strategy continues until the goal is reached.
Ladder is a betting strategy that helps you profit from events with low odds - up to 1.20. Usually, such bets are unprofitable: you get only 20% of the bet amount, while you risk losing 100%. With this strategy, the player places a bet on an event with a low odds. When entering a bet, the player bets the entire amount won on the next event with a low odds. The strategy continues until 4-5 wins in a row.
Control the bank
Bank control is one of the basics that helps to make money in sports betting. Thanks to the strategies of the bank's management, you will be able to optimize the bet amounts depending on the amount of money in the account. They will work long distance and are used in all kinds of sports.
There are three popular bank control strategies: fixed rate, fixed profit, and flat.
Fixed bet is a basic bank control strategy in which the player bets the same amount regardless of the odds and confidence in the forecast. In this strategy, you need to divide the amount on the account into several equal parts. The more parts, the less risks: in case of a losing streak, the player retains the chances of a successful wagering.
One of the variations of the fixed rate strategy is the fixed rate with thresholds. The player sets several amounts of the pot, at which he increases or decreases the size of the bet. Thresholds can be in absolute terms or as a percentage of the starting bankroll.
For example, in our bank there are 10,000 rubles, the bet amount is 1,000 rubles. We set thresholds for increasing the bank:
- with 15,000 rubles in the bank - the amount of the bet is 1,500 rubles;
- with 20,000 rubles in the bank - the amount of the bet is 2,000 rubles.
We set thresholds when going into minus:
- at 7,500 rubles - the bet amount is 750 rubles;
- at 5000 rubles - the bet amount is 500 rubles.
In this strategy, the player plans not the amount of the bet, but the desired profit from each bet. The bet size is calculated using the formula:
Amount = Desired Profit ÷ (Coefficient - 1)
This strategy helps you generate predictable profits. It also allows you to change the bet amount depending on the coefficient - the higher it is, the smaller the size of your bet.
Flat is a strategy in which the player bets a percentage of the size of the pot. This strategy helps to keep the pot on a long losing streak and grow on wins. The bet amount automatically adjusts to the amount of money in the account, so this strategy is best for beginners to earn money in betting. There are four variations of flat for different playing styles.
- Academic - the player bets 1-3% of the pot, depending on the forecast for the match. If the rate seems risky, then he puts 1%, and if he is confident in the passage, he chooses 2-3%.
- Static is the most cautious flat option. The player always bets 1% of the amount on the account, regardless of the odds and confidence in the forecast.
- Aggressive - the player bets 2-3% of the pot regardless of the forecast. This variant differs from the static flat only in the size of the bet.
- Chaotic - the player bets 5-15% of the amount on the account, depending on the confidence in the bet. This is a risky option: if the streak is successful, the player will quickly increase the pot, and if he loses, he can greatly reduce the pot for just 10-15 bets.
Count your ROI
ROI is a measure of the return on investment and your level of earnings in bets. It helps to calculate the effectiveness of the strategy and shows how much profit you have in the middle and long distances. At distances up to 100 calculated bets, this indicator may not work: due to two or three large wins, you will not see the remaining bets unprofitable. It is best to calculate ROI after 500 wagers.
ROI is calculated using the formula:
(Sum of all wins - Sum of all bets) ÷ Sum of all bets × 100%
After calculating the ROI, you will get the value as a percentage: negative or positive. The sign shows the effectiveness of the strategy: you are going in plus or minus. The meaning is how successful or unsuccessful your strategy is.
It's best if your ROI is a little profitable. For example, 3% is a good indicator, even for experienced bettors this indicator rarely exceeds 10%.
A small negative ROI shows that you are gradually going into a bigger negative - in this case, you should reconsider your betting strategy or change the way you control the bank.