Can you get rich from sports betting? Rather no. Can you make money from sports betting? Yes. But you shouldn’t expect too much and it also requires a bit of discipline.
As always in sports, fun is the priority, and it should stay that way. But winning is definitely the most fun. That’s why we’ve put together a few tips for you on how to make money with sports betting. First, however, we clarify the conditions under which you can really make a living from betting.
Prerequisites for making a living from betting
There are actually people who make so much money from sports betting that they can live off it. However, these are people who had certain prerequisites for this.
Seed capital
Anyone who can make money with betting usually already has a lot of money anyway. Wealth cannot be accumulated with small bets. Also, a professional sports bettor needs to have enough on the high edge to endure dry spells. A rule of thumb speaks of capital for six months. Think for yourself how much money you need to live on it for the next six months.
Discipline
Sports betting professionals have a lot of discipline and completely switch off emotions. They also don’t sit in front of the TV and enjoy a soccer game in peace. Anyone who can earn money with sports betting in order to make a living from it constantly compares odds, calculates their stakes and only looks at numbers.
How can I make money from sports betting?
Favorite tips
If you want to systematically earn money with sports betting, you should not rely on high odds in the hope of making a big profit quickly. So avoid large combination bets. With combos, not only are the odds multiplied, which is of course an advantage, but also the probabilities, which is a disadvantage.
So the following is the case: the more games you put in your bet slip, the lower the percentage probability that your combo will go through. So you would be exposing yourself to unnecessary risk and basing your bet on pure luck – this is contrary to sports betting rules for a professional or advanced sports betting enthusiast.
In the case of individual tips, it is also advisable to rely on favorites with still worthwhile odds. You should also always keep an eye on the “Double Chance”, which protects you against a draw.
collect informations
The rate doesn’t always say everything. There are often games in which a favorite has worse conditions than expected. Is the top scorer injured? Is the game possibly unimportant because progression or the place in the table is already certain? Is the other team a real feared opponent?
These and other questions are important if you want to make money with sports betting. You don’t have to be a statistician in this field, but working with statistics will help you with analysis and the associated predictions. Gaining experience with the leagues and competitions you are betting on is therefore important so that your bet does not become a gamble.
Find the right bookmaker
In order to be able to earn money with bets, not every betting provider is equally well suited. For one thing, the odds are important. Some bookmakers make significantly worse offers than others. Hence our recommendation to only use the best bookmakers in 2022.
One reason may be that the bookmaker does not pass on the 5% betting tax to their customers. He uses slightly worse odds to compensate for this loss. Just compare a few bookmakers in terms of odds, betting program and user-friendliness.
Your analysis will most likely result in a favorite bookmaker. Tip: We have already presented the best bookies in this regard in the table on this page.
The payment methods also play a role
If you want to systematically earn money with sports betting, you have to be able to deposit and withdraw funds quickly in order to be able to react to good opportunities. So make sure that fast and secure methods such as PayPal sports betting or Trustly are available. There are several good bookmakers that meet such requirements. Sports betting professionals already use multiple betting accounts at different online betting agencies.
Compare odds
Professionals who earn money with betting have several betting accounts in order to be able to quickly compare odds and choose stakes accordingly. There are a few good sites on the net that will show you such an odds comparison at a glance. Wettmaxx.com is an example.
What sports can I make money on sports betting?
You can bet on the most popular sports such as football, tennis, basketball, ice hockey with almost every betting provider and therefore theoretically earn money with sports betting on every sport.
In addition to football bets and the like, the betting program also often includes sports that are otherwise not given much attention, such as darts or table tennis, but also those that you may have seen on TV or stream but have not yet bet on, such as darts, Formula 1 or winter sports. A bookmaker that offers the widest range of sports is Unibet.
However, we advise you to only bet on sports that you are actually familiar with. If you play football, then football bets are for you. If you regularly watch basketball or the NFL, you could bet on these sports instead of football bets. In our experience, the success rates are higher if you already have experience with the respective sport. There is no general answer as to which sport you can earn money with in sports betting, but depends on your preferences and your specialist knowledge.
What types of bets can I earn money with?
You just learned that you can bet on different sports. However, there are further subdivisions into betting markets per sport. For example, in football there is the Bundesliga, Serie A, Premier League, etc. You can bet on the teams that take part, i.e. Bayern, Real, Juve and Co. but also smaller teams – the main thing is that betting markets are offered on the teams.
These betting markets include various choices. So you can theoretically earn money with tips on victory, but also on a draw or how many goals there are at the end.
You can submit these tips before the game, or you can place live bets. Many an advanced betting friend has specialized in live betting and is not doing badly with it. But you have to find out for yourself whether this is also suitable for you.
When placing a bet, we recommend playing single bets. Single bets are less risky than combination bets. Long-term bets are what you can use to earn less long-term money with sports betting.
With which betting provider can I earn money with sports betting?
There is no betting provider where you are sure to win. It always depends on your own tips whether you make money with sports betting or not. However, you can influence what you can bet on or how high the potential winnings are by choosing the betting provider.
If you plan to make money by betting on many different sports, then you need a bookmaker with a large betting program, such as Unibet or Betway. If the top leagues in football (Bundesliga, Champions League, Premier League, …) and a few lower leagues are enough for you, then you are better off with a betting provider with a good overview such as Interwetten or Bet3000.
Last bookmaker brings another important criterion: high betting odds. As you know, the higher the odds, the higher the potential win. In our experience, Bet3000 has one of the highest betting odds on average, a betting account with the bookie is always worthwhile when you compare odds.
If you want to make money with combination bets, you should also take a closer look at Betano, where we often had high overall odds in the test compared to other bookmakers. Tip: At Betano you will also find many betting odds for tennis bets. Earn money with sports bets on US sports (basketball, ice hockey, football) – Unibet, Betway and bwin in particular offer good conditions for this.
How can I regularly make money with sports betting?
Regularity plays a big role if you want to make money from sports betting. It is closely related to discipline. So you should regularly analyze the leagues you want to bet on and always be up-to-date. The smallest advance in knowledge over the bookmakers can be decisive.
It is then important that you regularly bet on the games that are taking place in the sport or league that you specialize in. For example, Bundesliga games usually take place at the weekend. If you bet on the Bundesliga every weekend and have a system that allows you to win sports betting, you can win regularly.
Don’t be tempted to bet on games from unfamiliar leagues during the week just because the odds look good or you just feel like betting. Wait for the games from “your” leagues and you have a better chance of regularly making money with sports betting.
What is often decisive in terms of regularity: Check your success at regular intervals. There is often a tab called “My bets” directly at the bookmaker. Here you have your bankroll at a glance, i.e. stakes, returns and losses. Always keep an eye on the bankroll. If the losses limit the return too much, it is important to take countermeasures and possibly do something differently with future bets.
If you are already successful with your bets, then you should still analyze your bankroll. There may be one or the other type of bet with which you have more success on average than with another. You can use this knowledge for your future predictions.
How do long-term sports betting profits go?
Earn money with sports betting – this can be done in the short term and in the long term. A bet may go through in the short term, but if there is no system or special expertise behind it, there is also a large portion of luck involved.
You can only make money with sports betting in the long term if you have a strategy (see “Tips” above), specialize in one or more specific leagues, have good sports betting money management and have the discipline and stamina to follow through with your strategy.
Of course, you will also lose bets in the long run. That’s not bad, it also happens to betting professionals. The only important thing is that your winnings exceed your stake. It is very important that you stay with us in the long term. An important aspect: play single bets instead of combination bets or system bets.
Example:
You want to bet on five games. You have €20 available as a bet. The odds:
- 2.00
- 1.50
- 3.20
- 1.80
- 2.25
With a system bet 4 out of 5, the maximum win is €385. If a game is incorrect, the minimum win would be €48.60.
But now it’s like this: You have three games right. With a system bet you would now get nothing and would have lost your €20 bet.
However, if you divided the €20 into individual bets, i.e. placed €4 per bet, then you would win a minimum of €21.20 with three correct tips. So your bet would be back in and you would have made a minimal plus.
As you can see: If you want to make money with sports betting, you may not make big profits per bet. However, if you stick with it over the long term, the small gains could add up nicely.
Living from sports betting: how much can I earn per month from betting?
It ultimately depends on your stake how much sports betting profit is possible with sports betting per month. But never plan with possible winnings! Sports betting profits should then be an extra income for your job, but never the basis when it comes to earning money for rent, electricity, clothing or other basic needs.
First of all, it is important that you have a working system. Then you can start working out a money management strategy.
It is also important that you only bet money that you have and can do without. We do it that way, every advanced bettor does it that way and you should do it that way too. Some tipsters may only have €20 left to bet, others €100.
Even if you start out small, stick with it. If the winnings are small at first, that’s not a problem. In order to try out your own sports betting strategy, it is advisable to start with even smaller bets to check whether the strategy works at all.
In our experience, this is also a good thing: the betting bonus for new customers, which many betting providers offer. Your first deposit will be increased by the bookie, a kind of welcome gift at the beginning, so to speak. In order to be able to test your strategy well, you should take a betting bonus where the turnover period exceeds the average time of 30 days.
Conclusion: Can you make money with sports betting?
Earning money with sports betting does not have to remain a dream – but the reality is intensive research and ice-cold calculations. In addition, one should never forget that the real sports betting professionals had a corresponding capital before the start of their career. Nobody should get into debt because of sports betting.
If you want to approach things systematically, then follow our tips on making money with sports betting and, above all, try to avoid the classic betting mistakes.