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Did you know that sports betting can make you more money than an investment ISA or stocks and bonds? Different sports punters have tried it and proven it. Sports betting is a very viable investment path if you look past the ‘gambling’ connotation. Making a betting pick today is like picking a stock using historical data. You have all the data, tools and advice you need to make a good pick. Sports betting comes with a bonus of a dose of fun.
Developing an Investment Mindset
The biggest hindrance to making money from sports betting is not having the correct mindset. Many people are looking to make a big win at once or following a gambler’s gut instinct. There is nothing wrong to seek the gambler’s thrill if you are betting on sports for fun alone. But if you are looking to make money from sports betting the mindset has to change to an investor’s perspective.
There are sports bettors who have successfully tried sports betting investments. One Australian punter has documented his sports betting investment journey very well. His current profit per day works out to $131.
Developing a Strategy
Every successful investment has a strategy. You should also seek to develop a sound sports betting strategy. The first step would be to discover what resources you can bring to bear on your investment. The good thing is that if you are a sports bettor, you already have all the tools you need.
You need a deep knowledge of the sport. There is an advantage in the availability of lots of historical data online. You can put this data to excellent use when deciding on the type of bets that perform consistently.
There are lots of tools online to help you in your sports betting decisions. There are review sites for the best odds, value bets, dropping odds, and so on. There are reviews of sportsbooks and different incentives, promotions and bonuses. You can find the best new betting sites at www.newbettingsites.uk/ In short, you have all you need at your fingertips for consistent wins.
Your strategy should have a betting plan. Some punters advise arbitrage and matched betting strategies to lower the risks. But you will need more capital than in ordinary betting.
Get Investment Advice
Every sharp investor needs expert advice. In sports betting, there is no shortage of investment advice. There are many sports review sites, fan communities and tipster websites. Some bettors shy away from paid tipsters, but it is important to recognize that there are experts with better input.
A paid tipster can boost your win rates. There are many fake tipsters, but there are several excellent ones if you take the time to look. The good thing about tipster sites is that you pay very little for very valuable information. It is like getting advice from a top performing Wall Street hedge fund manager for $30 a month. The comparison is not far-fetched. A good tipster can deliver three winning tips every weekend.
Pick three tipsters and keep records of their winning rates. Most offer a trial period or limited free tips. Compare the performance before picking one.
Get Your Bankroll Ready
Each investment needs capital and in sports betting, your capital is your bankroll. There is no set amount, but a reasonable amount like $5,000 will force you to pay attention to your investment. A bankroll is not the same as a stake. The stake in each bet is a percentage of the bankroll. Forex traders, for example, have a loose rule of not committing over 1% of capital in any trade. You should set up something similar to your bankroll.
Has it Been Done?
There is proof that sports betting is a viable investment path. Several sports punters have tried it with impressive results. SmartSportsTrader grew a £10,000 bankroll by £25,236 in two years. Steve of Daily25 has made a profit of AU$479, 860 in 10 years from sports betting. The punters at Betaminic developed a strategy that returned 9.7% in a year.
An investment ISA will bring you 1-2% annually, a bank deposit 2-5%, but sports betting 9.7%. It is an investment as good as any other. Sports betting can make you money if you develop the right approach. You need an excellent strategy, advice and the willingness to keep going even through losing streaks. The good thing is that sports betting takes only 30 minutes of your weekend. You will also do it while enjoying your favorite game. It is the perfect side hustle.
