Bitcoin Sports Betting as a Profession
You have often heard that sports betting is just a pastime that always costs more money than it brings in the long run. More often than not, this is a comment from a person who in all probability has little idea of the actual topic. So it is in itself already possible to earn one’s own living through sports betting as a profession. However, there are many points to be considered, which can run in the negative direction if they are executed incorrectly.
What do I have to do to become a Professional Sports Bettor?
The reason why a sports bettor can make a living from his tips is that sports are not only based on luck, but on skill. It is especially important to pay attention to the odds, because if a betting provider has an odds key of 90 percent, then theoretically 10 percent of the money invested is lost in the long run, which must be played out again before the profit zone is reached. For this reason, it is worth taking a look at our extensive betting provider comparison, where you will find a clear ranking of the best bookmakers. This is what everyone should consider for professional betting.
In addition, there is the tax, which many providers now have to pay (5 percent of sales). If you want to calculate whether you still make a profit, you can calculate your yield.
Whoever gets a value above 0 here makes a profit in the long run. The decimal places must be understood as percent. So if the calculated yield is 0.05, you will make a profit of 5 percent in the long run (every 100 USD of betting brings 5 USD net profit). Depending on how much money is needed per month, the yield should be a certain percentage or a certain amount.
In the long run, the better team always wins. The person who now bets on the various events must now decide which of the teams is the better one under current conditions. Simply betting on the favorite team or even just on the standings is not enough. Getting information about current and professional betting tips and their backgrounds is the right way.
Can Betting on Sports Events Bring in Money?
This question can be answered with a clear “yes”, but it should be possible to add a “but” just as quickly. The reason for the “but” is that not every person has the optimal qualifications for professional sports betting. In addition, not everyone has the necessary knowledge to actually earn money in the long term with professional betting.
The following should therefore be available:
- A lot of discipline
- Wide experience in at least one sport
- A financial buffer (at least 6 months of income)
- Tilt Resistance
- Much time and patience
Note: The financial buffer refers to the money that is not intended for sports betting. So if there are monthly expenses of 1.800 USD, it is necessary to have at least 10.800 USD on the high edge. In this case, the sports betting account should be filled with at least 10.000 USD, otherwise the expected profit will be too low.
Here you find a whole list of all big BTC betting opportunities out there.
5 Tips for the successful Professional Bettor
1. Strategy is needed
If you want to bet successfully in the long term, you don’t need a lot of luck, but rather a good sports betting strategy. Always betting only on the favorite is usually not a good idea. Rather, sports betting as a profession builds on Surebets and Value Bets.
Surebets: Here it concerns to 100% safe bets. In order to be able to earn money with sports bets, this tactic is naturally optimal. The concept is based on the exploitation of different providers and the shifting of odds. Usually only low percentage winnings are possible, which can be compensated with a high stake. Nevertheless, many professionals rely on safe sports betting tips.
Value Bet: The word “Value” describes the value of a bet. To put it bluntly, a win by FC Bayern Munich in top form against the bottom of the table at odds of 1.50 would already have a high value. However, if Borussia Dortmund, as the runner-up in the table against Bavaria, had been given odds of 5.00, BVB would have been able to offer the valuable bet. In order to be able to earn money with bets, it applies to find Value Bets. Of course, not every tip works. But by weighing up opportunity and risk – where the odds are also taken into account – long-term success is possible.
2. Compare odds
Before a professional bettor submits his betting slip, he always carries out a betting odds comparison. This shows where there is the maximum profit for the specific game.
To be able to live from sports bets, it is not enough to be registered with a bookmaker. It belongs to the basics to register with competent betting providers and thus always have the best odds available. An example on the topic “Earn money with betting”: With the Stamm-Bookie a ratio of 2,10 is available on the desire tip.
The best bookmaker in the odds comparison, however, offers a 2.40. With a 100 USD stake, this would be 30 USD, i.e. 30% more profit. Anyone who wants to practice sports betting as a profession must use every advantage to stay in the profit zone.
3. Consider betting tax
In the calculation a professional weather should consider in any case the betting tax of at present five per cent. Sometimes the bookie even pays this tax, which would lead to a higher winning profit.
In this sense, professional sports weather can also work with the bonuses of bookies. Mybet for example offers a tax-free Friday. Nevertheless, fabulous odds can be found there. Tipico takes over the taxation for its customers. This means that this provider has an advantage over a betting provider who calculates the tax on profits, if the odds are the same or similar. A sports betting professional strategy does not ignore these basics.
4. Calculate balance sheet
Every professional player always has his personal balance in view. This is easily calculated using the following formula: “Balance/(stake*(odds/stake))-1”. If the value is above 0, you make a profit. A value below zero is a minus deal.
In general, professional sports betting players rely on a comprehensive controlling of their own bets. Because making money with sports betting also means to question yourself again and again. If you write down your own football forecasts and then analyze them for success, you will recognize your own strengths and weaknesses. In this way, football betting tips can be placed with even greater care in the future.
5. Create financial cushion
If you want to bet so successfully that you can make a living from it, you should first build up an appropriate financial cushion. Without financial reserves, the pressure to win increases and at the same time the risk of getting into debt increases. So betting always involves responsibility.
Which brings us to the next keyword: Money Management! Sports weather as a profession is a dream of many people. Only few make the step because the immensely important control of the flow of money is missing. If you want to earn money with sports betting, you have to keep an eye on the financial side of things and even put it before the sporting side. Every decision to bet or not to bet must be made from a financial perspective.
By the way: The new customer bonus, which is generally available from every betting provider, is also a good way to start directly in the financial plus. Before you do so, however, you should take a closer look at our betting bonus comparison, especially to get an idea of the bonus conditions.
Sports betting as a profession: Earn money with sports betting – 10 tips and tricks
Success only comes to those who work consistently on themselves, invest time and make wise choices. With the following 10 tips we want to improve your soccer tip prediction. Of course, these tips can also be used for other sports, such as tennis, basketball or ice hockey.
1. Exclude emotions
Sport is emotional. Bets, on the other hand, must be analyzed in a sober way. To be able to earn money through sports betting, a bare analysis of the facts must be carried out. Just because there is a lot of euphoria before a game, you should not simply bet on it. This is especially true for large tournaments or top games, where the outcome is often uncertain.
2. Collect information
Knowing a league is simply not enough for professional sports weather. If you want to be successful, you have to know your way around different sectors. Often it is even worthwhile to exclude very balanced leagues. Through the internet, you can also find information about sports in Australia, Japan and almost every country where you can play.
Specialize in a certain area and provide yourself with information. This does not necessarily mean to do without the Champions League or Bundesliga. With the necessary experience, you can find out for yourself which competitions you like.
3. Analyze games in detail
The time component is often very extensive. However, sports weather as a profession takes this time to be able to give a competent tip. What is the form of the teams? How do the teams perform at home and abroad? Which players are injured? How many goals are scored? How many cards are there? Who is the referee? What is the weather like? Who is in the line-up? These facts can influence the result and must be known.
4. Choose the height of the insert
How to practice sports weather as a profession? Many hobby players ask themselves this question. But this question should be more concrete: How can you secure your livelihood with sports betting as a profession? The important thing here is a deposit of money.
Now games have to be analyzed and evaluated according to risk. Let’s assume you bet a maximum of 100 USD per game. Your analysis results in a 60 percent probability of a game with odds of 2.10. It is therefore a value bet, because the chance of doubling is over 50 percent. With this probability, however, you do not bet the maximum of 100 USD, but only a partial amount of 60 USD (60 percent).
5. Gain experience
One of our tips for making money with sports betting is the “use” of play money. This method is useful for exploring new markets. Create a table, note play money stakes and odds and see if you can make a profit in the long run. Only then will you start betting real money. Professional sports bettors see it quite soberly, even though there may be no profits for the time being.
6. Quality over quantity
This is a bold statement that can be explained as a profession in relation to sports weather. Because often a reminder is made to spread the capital over many games. This is also correct. But the time frame of the dispersion may be quite generously selected. In other words: If no tips to earn money with sports betting can be analyzed, no stakes should be placed.
7. Individual tips lead to long-term success
Of course, this only applies to professional analysis. Combined bets attract with high amounts. Who would like to win however money, sets nearly to 100% on single tips. Because the probability to get through a 10er combination is very small even with low odds. With single tips the yield may seem smaller, but sports betting experts compensate for this in the long run with larger stakes.
8. Mini-combinations as an alternative
Just now we advertise the single bets and now the jump to combinations should take place? In fact, the mini combos are highly recommended. A combination of a maximum of three events with a high probability of occurrence should be made. Let’s assume we achieve a odds of 3.20. In this case, only every third combination would have to be right in order to make money with bets.
9. Use offers of the bookmakers
The only offer that really counts is high odds. To earn money with sports bets means to be registered with different betting providers in order to always have the most advantageous odds in prospect. Because sports betting tips predictions is one thing, making money with bets is another. Like other professions with sports, you should always strive for the maximum. In addition to one-time bonus offers and advantages for existing customers, a high odds level is especially important.
10. Consider sports betting as a profession
Of course it is attractive to choose sports betting as a profession. First of all, of course, there must be a sufficient financial cushion, which is otherwise not needed. Otherwise this choice of profession is a game with fire. In addition, a professional attitude is important. Analyses before a game and evaluation of the tips are essential. New and valuable information must be constantly sought. It is important to internalize that betting is to be seen as a profession. Conclusion: Living from sports betting is hard work!
Professional player must tax profits and declare business
Another reason why it is not recommended to be a professional player is the fact that in this case the winnings are also taxable. This is always the case if you generate most of your income from sports betting. In addition, you have to register a business. The step to become a professional bettor should therefore be considered very carefully.