How Much Can You Realistically Make With Sports Betting?
Sun 01 Dec, by Asher Potu

Sports betting has the potential to be very lucrative, but one can lose large sums of money as well. It’s unpredictable, that is its very nature. While there is a multitude of professional punters out there – men and women who make a living only by betting on sports, it is a risky basket to put all your eggs into. How much can a person realistically make from sports betting? Would it be wise to drop everything else and focus solely on betting, or should it be treated as an occasional hobby?

How Much Can You Make From Sports Betting?
How much you make really depends on a number of factors. Factors such as how much you stake, the odds, what you bet on and the betting market, just to name a few. But there are ways in which you control the magnitude of the profits you make. With the help of certain strategies, you could aim for high profits, but this often comes with great risk. You could also focus on reducing the amount of risk involved, but you’ll have to compromise on profits. Let’s take a look at both approaches.

A. High risk, high profit

1. Progressive betting
Progressive betting is an approach to wagering wherein you increase your stake based on the outcome of your last bet. Progressive betting is of two types. The first is positive progressive betting where you increase your stake with each win. And then you have negative progressive betting, where you increase your bet after you lose. With progressive systems, there is some system you can follow.

2. Martindale system – This particular strategy gets its roots from roulette, but it can be applied to sports betting as well. Traditionally, you would have to double your stake after each loss. This is done with the aim to cover the previous loss.

3. Paroli system – The parole system is one of the oldest strategies out there, and to break it down, it pretty much entails the opposite of what the Martindale systems require. Here, you would have to double your stake only if you won the previous bet.

B. Low risk, low profit

1. Arbitrage betting

Arbitrage betting is all about minimizing risks, but at the same time, you reduce the rate of potential profits. Arbing is quite simple really, all you have to do when you can’t decide on which outcome to bet on is to simply bet on all of them. You would need to make multiple accounts. You do it in such a way that the inevitable losses are negated by the profits. Here's a tip - try to find a bookmaker that offers high odds on one option, and another bookie that offers low odds on the same option. 

2. Matched betting

Matched betting is quite simple based once you get the hang of it. Here’s what you have to do. On a traditional sportsbook, make a bet. Make sure that this is a qualifying bet – you have to receive a free bet by making this wager. Next, go on a betting exchange and lay the same option. This means that you bet against an event from occurring.

This should be done in such a way that your expected profits from one bet would be more than or at the very least decrease the potential loss, regardless of the outcome. For your next bet, repeat the same process, but make sure to use your free bet!

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