It is possible – with the right know-how, tactics and information – to make some real money betting on sports. And we’re not just talking about a ten pound profit, either. We’re talking about winning big.

For many of us, betting on sports is something we might dip in and out of. We may frivolously and without much thought hedge our bets on large sporting events like the Melbourne Cup because it’s all part of the fun. But whilst we do this we are not actually informed on the key players let alone any of the factors that could aid or hinder their success.

Proper, smart betting on sports is a whole different ball game, and if you’re wondering just how you can pocket some serious cash from this lucrative industry, we have six top tips for you.

1. Let go of unrealistic dreams

Entering into the world of betting seriously means forgetting about the pipe dream of winning the lottery or winning big with a huge accumulator. While these wins can and do happen, they cannot be planned for and and are therefore redundant in the overall process. You should look at betting as something where luck only plays a small part, and that you can hold all the power and knowledge within you to predict the winners.

2. Have patience and persistence

If you want to get rich betting on sports, you must possess great patience and be incredibly persistent. It’s crucial to remember that while miracles do happen in the world of betting, it is very unlikely that you will get rich overnight. Instead, you will need to adopt a slow but strong approach that includes both winning and losing streaks. The journey may be longer than you’d like, but it’s a sure fire way to grow your bankroll.

3. Practise smart money management

In order to get rich betting on sports, it is of vital importance to carefully manage your money. Growing your bankroll successfully means doing so as quickly as possible whilst avoiding bankruptcy. To do this, it is recommended never to stake more than 2% of your bankroll on a bet.

4.  Pinpoint value

Being successful at sports betting is all about pinpointing value. This means that you should avoid odds that are consistently too high, and instead buy into the underdogs; the undervalued participants – whether that be team, rider, horse, etc. The advantage of doing this is that is you invest what will later appreciate in value, in the same way that you buy in stocks.

To successfully find value takes the ability to judge and predict probabilities as well as the bookmakers can, which takes immense practise and knowledge. Only after a lot of practise are you equipped to find the value in your chosen sport(s) and successfully grow your bankroll.

5. Only bet with reputable bookmakers

In order to make the big bucks through betting, you need to use a bookmaker that will allow you to win; unfortunately, there are some bookmakers who are corrupt and will punish big winners by banning them from using their services. Therefore, it’s crucial for your success that you only do business with reliable and reputable bookmakers and betting exchanges.

It is vital to find a fully established organization that payoffs bets to avoid losing a vast amount of money. There are various ways to bet nowadays. Most bookmakers offer online placement of bets. Just like in online horse betting bookmakers, their website provides betting options according to their bettors choice. To know the legitimacy of the site, read some reviews online, and ask for opinions from your “betmates”.

6. Listen to experts

Getting rich betting on sports requires astute knowledge and the ability to find value independently from bookmakers and betting exchanges. However, this doesn’t mean that you can’t listen to betting experts as a way of helping to inform your own findings. Successful tipsters are successful for a reason, so rather than shun their opinion, take it into account – it’ll only make you better at what you do.

Conclusion

If you want to make money betting on sports – and not just a little bit of money on the weekend that you can put towards your next dinner out, but big money that can change your life for the better – then you need to get serious and knuckle down. Nothing worth having comes easy, and once you let go of the idea and professional betters rely on luck to win big, the sooner you will be ready to get on with the hard work that’s required.

Follow the above 6 tips, do your research and get practising today. Good luck!

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