There are plenty of sports fanatics out there that are able to make a comfortable living via sports betting and especially using the opportunity to place in-play or in-running bets.
Quitting your job and taking up sports betting for a living is not an easy life choice to make, and it is one that may not pay the bills if you are not ready to treat sports betting as a full-time job. On the other hand, there are also plenty of sports betters out there that have quit the 5-day a week 9 to 5 rat race in exchange for a part-time job and combine this with their live betting.
If you plan to make a living from live betting, then our advice would be:
- Start winning and be confident you win regularly
- Downgrade to a part-time job before going full-time
- Make sure you have a decent bankroll to back you up
- Take advantage of bonuses such as a matched bet. Matched betting means any deposit you make will be matched by the operator up to a certain amount. Other bonuses include free bets where sports bettors can bet on events like the Super Bowl without using personal funds. Any free bet offer is excellent for real money betting.
If you want to know how to make a living with betting, this article will be useful. There are many factors that go into making a sports bet, and to become a professional gambler you must know all about a betting exchange and terms such as profit accumulator.
We will show you how to make a live bet with online sportsbooks, how you must pay attention to in game odds and how this can fit in with your other betting strategies. With that said, let’s take a look at crucial information for any aspiring sports bettor.
What is Live Betting?
There are several forms of live or in-game betting these days. For the purpose of this blog, we are covering live sports betting otherwise known as in-play betting. That said, you may also have heard of live casino betting where you can play blackjack, poker, baccarat, and roulette via a webcam that streams the action in real-time back to your device. This is also a popular way to make a living with live betting in 2020.
Live or in-play betting allows you to make bets while the game in progress. Some people will also refer to this as ‘in-running bets’. As the game is in action and the clock tick down, the odds will continually change giving professional sports betters margins in which they can pull out a winning bet. You can do this on your computer or laptop, or on one of the latest sports betting apps.
Any top betting site will offer the option to place an in game bet, offering live betting odds and a range of in play bets. Additionally, the good news is place in game wagers is straightforward. Each online sportsbook will have a section dedicated to in running betting. When you visit this section, click on the event you are interested in and all of the live betting lines and options will appear. Foe example, if you are betting on your favorite football team in the MLS, you could wage on the next player you think will get a yellow card or the next team to get a corner kick.
Live betting is also huge in tennis, and there are not that many big upsets, like when a favourite looses early in a tournament, this can create big in play betting opportunities. For example, a top 10 player will be heavily favourite to beat to an outsider, but there is always a possibility of injury or the favourite getting off to a bad start. If the favourite looses the first set the odds will widen a lot, this is the time to strike, and bet on the favourite. Or live betting could allow you bet against the favourite if you can detect injury. All in all, there are a huge combination of live bets you can make in any tennis match.
They differ from pre game bets in that the odds constantly change depending on what is happening on the field. In some cases, professional sports betters that use live betting have managed to overturn an entire day of losses into a profit simply by making the right live bet at the right time.
Why Do Professional Sports Betters Use In-Play Bets?
One of the key advantages to live betting is that it affords you the chance to reverse pre-game bets you have already made. Maybe a bet you made is not going as planned, and so you can use the in-game live betting option to offset the potential loss of that bet. You can create live betting strategies depending on the events you are wagering on.
This form of wagering is also a way to take advantage of new live odds that are better than the original odds you laid out. For example, if you like soccer, then Liverpool this season is always a great bet. The team has been losing or drawing several games right up until the 90th minute this season. However, the team always seems to find a way to win. Liverpool has managed this feat so many times this season that Premier League fans have knicked named these ‘stoppage-time goals’ as ‘Kloppage Time Goals‘ after the team’s manager Jurgen Klopp.
The team has become the masters of goals within the last 5 minutes, last minute, and in stoppage time, and so live sports betters will notice this trend and follow Liverpool specifically to place a bet using in-game live odds. This is where the opening line will change as the game progresses.
Popular Professional Sports Betting Myths
With so many people making a living from sports betting, there are plenty of myths that circulate in this industry. Here are a few that you should immediately put out of your mind if you are seriously considering making that big step to becoming a professional sports gambler.
- Sports betting is a relaxing way to make money
This is false for one key reason. Sports betting is a lot of fun if you are casually placing bets on the weekend games or a few mid-week races using the income from your full-time job. However, when you are relying on your bets to succeed to pay the bills, sports betting can be stressful and there are times when bets your thought had a 90% chance of being successful yet the current results are not going your way.
- Sports betting is an easy way to make money
Live betting for a living is not easy because you have to have good instincts and know the sports or games you are betting on very well. As you are treating your live betting as a business, you will need to study harder than you did at school or university. You will also need to evolve to stay up with the latest changes in rules, team changes, injuries, and so on.
It is not like in Las Vegas where you are just there for a holiday or you want to get into card counting as a bit of fun. To make lots of money online, you need a betting strategy. You may choose to look into arbitrage betting, sports trading, or soccer betting. Whatever avenue you choose, making huge profits from an online sportsbook is challenging.
- Picking a winner is easy
If this were true, then everyone would be a professional live sport better. The winner may seem obvious, but then something as simple as a divorce for a major sports personality can affect their form/performances – you need to know about these changes and stay on top of them in order to make the right bets and turn over a profit. As you can imagine, this means reading newspapers, listening to sports pundits, and with many sports, you will need to understand statistics.
- I can make a lot of money out of nothing
In poker, the old saying goes ‘All I need is a chip and a chair’, and some poker players are skilled enough to turn a chip into a million but for most, it just isn’t that easy. As with a poker player, sports betters looking to make a living from live betting will need a large bankroll. You need to be able to afford to get through bad times when bets just don’t seem to go your way.
- I do not need to watch the game to make live bets
First of all, you should specialize in one or two particular sports so you can spend more time studying each one. This also means you will have more of a chance to watch the games live. One of the reasons it is so important to watch the games you are placing in-game bets on
Disciplines Required To Become a Successful Live In-Game Sports Better
As a live sport better, you will need to follow several disciplines. Some of these are the basic steps that are given to problem gamblers, while others are points we are reiterating from above.
- Quit when you have hit your target earnings for the day
- Specialise in one or two sports only
- Be prepared to study new sports every day
- Do not try to chase losses by making bets in sports you do not know about
- Do not use your savings to gamble with
- Do not get into debt or borrow money to gamble with
- Use no deposit bonuses & promotions valid for sports betting
If you start to break into your savings or find yourself losing more than you are winning, then it may be time to look at getting your old job back.
Being a professional bettor is not an easy profession to master and only a select few individuals with sharp minds and a keen eye for sports have managed to make a career out live betting. You will need discipline, you will need to study, and you will need to be a master of managing your bankroll. Get these right, and you could join an elite class of people that Make A Living With Live Betting in 2020.