It is probably the first question that people ask out of curiosity while discussing one of the most hyped sources of making money today. From the US to Africa, the betting culture has grown in popularity. Like other investment sources, sports betting also requires a specific investment to feed the deals you bet on.
However, there are two possibilities where sports betting can make you handsome money. First is when you win the bet and the second is if you manage to close the deal at the right time before the results are announced. Whatever the case may be, there is no fixed amount that you can earn through sports betting.
With that being said, let’s dive deeper to know up to what extent the mantra of getting rich quickly through sports betting is true. There are generally three things on which the answer to this diplomatic question depends on.
Just like cricket scores, an edge in sports betting works the same way. There are two general types of edge, positive and negative. Every bettor aims to obtain as many positive edges to increase its chances of winning. Whereas having negative edges can increase the chances of losing or may get you out of the game.
A turnover refers to the amount of money wagered on any deal. More the turnover-greater the chances of winning. Therefore, experts recommend betting on bigger deals with more money as it directly increases the turnover of a bet. At last, the product of the total edges and turnover decides the expected value you are supposed to win.
- Stake Units
The stake unit makes the distribution of money amongst bettors a lot more manageable. It divides the total turnover or minimum wage into ten units which are given to the bettor on winning respectively. However, the staking unit size varies with every game, depending on the game’s turnover and the money you stake at.
Without a doubt, sports betting holds tremendous potential in making a person rich. This fun yet an incredible money-making game has made people from billionaires in a matter of days. So, if you’re planning to stake your money in sports betting then eye on the right places where you can earn more profits.
Therefore, here are a few tried and tested ways that can help you increase the odds of winning a bet and making your name in this highly competitive industry.
Choose Quality Matches
It is important to wisely choose the field you are planning to bet on. Only choosing quality and profitable matches can offer you the benefit of placing the maximum number of bets and increasing the odds of winning more than losing.
However, it is not very difficult to choose a quality match ground if you can dedicate some valuable hours of research and study past betting trends on betting apps android. You may come across a myriad of different types of sports matches, out of which you only need to select the most challenging, less risky, and more profitable bet.
No luck, Only Strategy
The very first thing a sports bettor should do is to forget luck exists in the betting industry. It is a very common misconception among bettors that often makes them over-confident, resulting in losing bets out of rush.
The secret is in utilizing the betting skills at their maximum and knowing the tips that can help you become a successful bettor. Besides, learning the art of money management also plays a major role in helping you play smartly with spiking up your bankroll of the deal.
Only bet what you afford to lose
From Tony Bloom, Matthew Bentham, Jonas Gjestlad too many other famous names of the sports betting industry, everyone has only followed this simple rule of winning. Betting the amount that you can lose saves you from horrible consequences of a bet such as debts, loans, financial insecurity, etc.
It’s also one of the basic principles of betting and can do wonders in any type of sports betting. Through this, you can save some money by your side and stake some to prepare yourself for both the positive and negative outcomes of a bet.
Do your homework
It’s never late to learn about sports betting and make yourself smarter than the other bettors in the room. Gaining knowledge about sports betting is easy but, exploring exclusive tips and tactics from experienced bettors is relatively hard and this is what works.
However, it’s recommended to study every area of sports betting but focus only on those that interest you more. For more help, you can always hire the most efficient bookmaker and get innovative ideas about what to do with the profits you make. Make sure to choose a bookmaker with high odds and high limits to increase your chances of winning
At one time, you might be making millions from sports betting while at other times, you are bankrupt. Sports betting is a highly volatile investment and you cannot expect a fixed paycheck at the start of every month. Whatever the case is, stick to the rules and manage to balance the profits that you gain from winning the deals.