Make a living betting on sports

You can keep doing it this way until you reach a point where it makes economic sense to do it full time. To do this successfully, you would need to specialise in a market, preferably a niche market, where the bookmakers do not have the same level of information and knowledge as you, or where they can not interpret it as well. If you want to try and create your own odds models, this article can help you get started.

The second wayis to find value in the odds. Finding value can again be split into three groups: 1 Matched betting, 2 Arbitrage betting and 3 Value betting. Also this guest post examines the pros and cons of arbitrage betting vs value betting. At Trademate we are all about value betting as this gives the highest potential return of the 3 ways to make money. The downside of value betting is that the risk is higher than for arbitrage and matched betting.

This is because you only bet on one side of the game, the variance is higher. These articles and video explain variance. In the short run, anything can happen, e. In practice, the potentially high variance nature of value betting, means that one needs to be prepared to place hundreds of bets, maybe thousands depending on the average closing edge and odds before one can expect the variance to even out.

Our interview series with Trademate users is a quick read, where you can learn from others who started out from the same point as you are at now. One thing they all have in common is that they have hit bad swings, but made it through them. We have had users who were breakeven at 1, bets, before they hit a good run and their profits soared up and past their EV line expected value. Before you start you should make sure that you understand the underlying principles of value betting, mainly exploiting market inefficiencies in our case.

It is not for everyone and if you decide that it is not for you, then that is ok. But then you will not be making a living from betting anytime soon. And if they did, then those opportunities would be competitive and very short-lived. Professionals are highly secretive about their methods. Take a look at the following: 10 Common Betting Strategy Mistakes. Take note of the typical errors almost every aspiring pro makes in their pursuit of a profitable, sustainable betting strategy.

In search of value, bettors can model their own sports odds based on past data. For football, a betting system could be as simplistic as analysing previous scorelines. But I recommend trying to incorporate more intricate statistics — such as shots on goal, corners, possession, and expected goals.

Remember that for any winning strategy, there needs to be consistent value in your bets. While all of the same principles of value betting apply to sports trading, it involves an even greater element of skill and discipline.

Becoming a successful sports trader is incredibly difficult. And this is partly because the markets are so quick to correct. The efficiency of the betting exchange is often debated. But I have absolutely no doubt in my standpoint. Betfair prices are sharp — unlike Bookie odds. This takes a highly methodical approach.

Successful Trading Throughout this website I offer advice on many ways you can separate yourself from the average trader. The Sports Trading section of this site provides details on the techniques every sports trader needs to familiarise themselves with.

Use Excel or better. You need to use a program capable of running simultaneous calculations on a large set of data. Request your prices.

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