How Can You Make Money Out Of Betting?

Are you someone who is keen to make money by betting? You will find there are hundreds of people like you out there who have made betting and gambling into a profession and treat it as their full-time job. To make money out of bets you can become an arbitrager, a sports trader, value bettor, matched bettor, poker player, etc.

Ways In Which You Can Make Money From Bets:

  • Matched bettor: This is the simplest way to turn into a professional bettor and it can fetch you high rewards when done properly, because it is largely risk-free. You will find free bets being offered as part of promotions on several online gambling websites. This is a ploy to lure you from their competitors and while you cannot withdraw the free wager you get to keep your winnings. You can choose reliable matched betting sites like OddsMonkey for free registration.
  • Arbitrager: As an arbitrager you will be placing bets when you find differences between the odds posted by different bookmakers and place bets on all the outcomes to be sure of a profit. You can rent software from OddsMonkey if you are a beginner or Rebel Betting if you are a professional and these will notify you when there are lucrative opportunities. This type of betting is legitimate but when bookies come to know you are gambling professionally, they can close your account.
  • Value Bettor: You can become one when you are an expert in a particular sport or team. You will have to know more than even the odds makers and you must be able to create your own odds. When these are different from the ones the bookmakers have made, they bet on this difference. This is a secure way to make money from bets because they do not exploit loopholes; rather they try to beat the bookmakers at their own games.
  • Sports Traders will use similar strategies that investment banks or hedge funds use for trading stocks. Popular sports trading exchanges like BetFair have been modeled on the traditional stock market and you can buy or sell bets here. You can update yourself with stock market strategies to conduct successful bets.
  • Poker Player: Becoming a poker player may be a tough but a sure shot way of making money through gambling. The real challenge is to make enough to compensate for the “rake” or commission which a casino takes from every hand, and not simply to beat your competitors. The truth is when you have a good opponent; you are likely to make less money. So, the biggest gainers are not those who win the big tournaments; rather the lesser-known gamblers who beat the not-so-great players.
  • Card counter: Card counting can be challenging because casinos know that when they greet amateur card counters, they will not be good and will end up losing money. But, at the same time, there are many professionals who are great at this. You however can do this only at physical casinos, not online sites.
  • Cheater: Finally, you can engage in match-fixing, have inside knowledge or enter into collusion to make money on betting. You just have to ensure that you do not get caught in the process. For instance, you could try hacking to hack slot machines to enjoy an unfair advantage or get inside knowledge like news that some player is injured and will not be playing. These tactics can fetch you money provided you are smart.