How to earn money while betting on sports – Valuebetting explained
Is it even possible to earn money while gambling? The answer to this is yes. In this article we will explain the basics you need to know if you expect to win money while betting longterm. There is not possible to give an exact number of how many people who are profitable while betting. Some studies claim that around 3-5% of the players win long term. In other words: 95-97% lose money!
Why is it so hard to win while betting?
The answer to this is pretty simple. It is because the sportsbook/bookmaker has an edge on you. Edge can be described as the «advantage» they have over you. In other words you will have to get an edge over them to win money longterm. We will keep the explanation in this article simple. The way they get an edge is by calculating the correct odds by using a lot of different statistic. When they find “the correct odds” they lower the odds with some percentages. This is often referred as the payout percentage. For most sports events the the payout is 95-98%. These percentages is where they make their money.
You can compare it to a coin toss. It is 50/50 to get heads or tails. Which means you should get 2 times your money if the payout was 100%. The problem is that the sportsbook do not payout 100%. Their margins for the bet makes it almost impossible to make money longterm.
How can you beat the house?
By getting an edge over them. We can go back to the coinflip metaphor. To earn money, you need to take bets that have odds that is better than what the probability is saying. In other words: you need to get more than double of your money in odds on that coinflip! This is much easier said than done. How can you get an edge over someone who has a lot of professional people working for them? I like to think these are the possibilities for how to earn money while betting on sports:
1.By having more information than them. In most cases this is impossible. For big matches all information is available. All people will know the results from previous games, injured players etc. If there is someone who has more info than others, it is often the gambling sites. An exception to this is if you gamble at small games or events. Maybe you even know someone involved in the sports event? Then you can definitely get an edge by having more info than them. But what happens when you earn money at games like this? Your accounts get limited and you can not bet there anymore.
2.Another method is by finding a site where the odds differs from others. What is the chances that one is right and all other wrong? Pretty low. That makes it possible to take advantage if one site is slow to adjust to new info. Maybe they have not been able to adjust the odds after the news about Messis injury? Then you can have an edge over them.
3.The most advanced method is by just being better than them. This is only possible for highly skilled players. You need to be able to calculate the odds for the games better than the betting sites. This is something that very few people are able to do.
To beat the house you need to have good control over your bankroll aswell. Bankroll is the amount of money you can afford to use while gambling. Your bankroll should never be more than you can afford to lose. While betting you should have strict rules about your bettingsizes. You should never gamble more than 5% of your bankroll. This is to be able to deal with variance. Even if your bets are good, you will end up losing some of them. Just like a coin toss. Even if you get better odds than double your money, you will lose 50% of the time. The controlled bettingsizes keep you safe while getting into losing streaks and prevent you from losing your whole bankroll.
This is the end of our short explanation of valuebetting/edgebetting. As you see there is a few ways to get an advantage over the house while sportsbetting, but there is a reason why only 3-5% earn money while gambling. It is very difficult and time consuming. For most players it is all about the thrill of gambling anyway. But if you expect winning longterm you should keep following us for more tips. We have some great tipsters you can follow HERE aswell!