For most people, sports betting is pure luck. It’s similar to playing the lottery. You bet on a team or a person and hope that they win. In fact, it doesn’t have much to do with luck, but rather with skill. But can you really live off it at the end of the month and earn your money just from sports betting? We’ll explain that in more detail in the following article.
What are sports betting?
Sports betting has now become much more complex and complicated than it might have been a few years ago. It’s no longer just about betting on victory or defeat. In sports betting, there are still so-called win bets, but other types have also been added, such as over and under bets. Basically, you can bet on any major sporting event. The most popular sports here are football, tennis or boxing. But football, baseball and basketball are also becoming increasingly popular as a way to make money through sports betting.
What types of sports betting are there?
The “classic” sports bet is probably familiar to most people in the sports betting business. In the Bundesliga, team A plays against team B. Bets can be placed on home and away bets. Bets can be placed on a home win, a draw or an away win. In addition to this type of bet, there are other betting options that are also very popular: basic bets and special bets.
THE BASIC BETS
The base bets are usually the most commonly played and are divided into three types:
● Single bets: The single bet is the simplest form of sports betting. It involves betting on the occurrence of a single result, for example the outcome of a football match.
● Combination bets: In a combination bet, several different games or betting results are combined into one bet. The chances of a return are significantly higher, but the risk is also greater, as a correct tip must be made on all games in the betting series.
● System bets: System bets are an extension of combination bets. In contrast to combination bets, with this type of bet it can happen that one or two tips are wrong. Despite a few mistakes, you can still make a profit.
SPECIAL BETS IN THE SPORTS BETTING AREA
In addition to basic bets, special bets offer other ways to earn money with sports betting. There are many different bets depending on the sport. Here are some examples of the most common bets for earning money with sports betting:
● Live betting: With live betting you have the opportunity to bet on the result or on intermediate results during the game.
● Handicap bets: Like normal bets, handicap bets are bets on the outcome of a game. The difference is that with this type of bet, a team or player is given a virtual advantage. This is added to the regular result at the end.
● Long-term bets: Long-term bets are bets that are designed for a longer period of time. This means that you are looking at a tip that will only be decided in several weeks or months, such as winning the cup.
● Over/Under bets: This bet comes from the area of football betting. Here you can bet on how many goals will be scored in a game. The bookmaker sets a value and the bettor bets on whether more or fewer goals will be scored.
Sports betting or matched betting?
In addition to these classic sports betting offers, there is also a completely new option that is becoming increasingly popular among users: so-called matched betting. The idea of matched betting is to place opposing bets with different bookmakers and use their bonuses to earn real money with them.
This mathematical method will not make its users millionaires. But this method is ideal for earning an additional income of 300 to 500 euros per month. Matched betting was first introduced in Germany by Ninja-Bet.de. Even beginners can register for a free account there and earn up to 50 euros.
Advantages and Disadvantages of the Sports Betting Business
Sports betting is primarily aimed at people interested in sports who want to earn a little extra money with their hobby or passion. After all, betting requires a certain amount of background knowledge in order to keep the chances of winning high. Because only in very few cases is betting pure speculation. In most of them there are suitable systems that you can bet on in order to earn money through sports betting. In addition, you can exchange ideas with like-minded people while betting, which is additional fun for many. So there are some advantages to making money with sports betting:
● Make new social contacts
● Expand your hobby with additional income
● You can make decent profits
● You can spend a lot of time doing sports
● There is a wide range of betting options
However, the disadvantages of sports betting should not be ignored. After all, it is still a game of chance, no matter how systematic your bets are:
● Betting can be addictive
● Competition promotes envy of other people’s gains
● You can lose a lot of money
● Betting is never really safe
Can you make a living from professional sports betting?
There are actually some people who approach sports betting professionally, have made it their profession and are therefore able to make a living from it. These are people who have turned their passion and hobby into a profession and are intensively involved in this topic. However, if you look at how many millions of people are actually involved in sports betting, you can count on one hand how many people can make a living from it. Ultimately, however, sports betting is also a game of chance, where things can go really well sometimes, but there are also times when you can lose a lot of money.
The difference between a hobby bettor and someone who does this professionally is that a professional bettor takes much less risk. First and foremost, they are so-called “high rollers”, which means they play with very high stakes. This allows them to play even small, low-risk odds, as the winnings from this are again very high. In addition, they bet on many more games at the same time than amateur bettors in order to make money from sports betting.