how to double your money from sports betting?
Can any punters out there please tell me their own way of doubling (odds at even) their money from SPORTS BETTING (excluding horses)?
I know there are risks involved, but their SUREST bets, if there's anything like that.
also, their preferred book-makers.
- pondlifeLv 49 years agoFavorite Answer
The best way to make money (provided you can actually predict good odds) is to manage your bankroll to make sure your odds play out. Never bet more than 1/50th of your bankroll on a single bet. It stops you losing money too fast and means your better picks will eventually show you profit. If you can in your country then use betfair's betting exchange system - you can back or lay so the odds do not include a bookie's cut. (you only pay to betfair when you win). Most importantly NEVER gamble money you can't afford to lose. Try starting with a 50p max bet.
- 4 years ago
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- 4 years ago
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- 4 years ago
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- 9 years ago
Interesting question. Firstly I would like to inform you that you know nothing of sports betting. I will explain a little and encourage you to go no further. How does a bookmaker make money? They asses the likelihood of one team winning over another, lets say its an even money match and both players/teams have an equal chance of winning, imagine that match is played one hundred times, if the bookmaker has the odds right they will each win roughly 50 times. Book the bookmaker will not offer you the opportunity to double your money on such a match, they will pay you out at odds of 1.91, for every 50 you bet you will win 40ish (and get your 50 stake back), so lets say you kept betting on your favorite team, 50 times it loses, 50 times it wins, of course as your payout is less than the match odds over time you lose, perhaps not straight away, but gradually you will.
Bookmakers make money by paying out at less than the odds of a specific outcome. So to beat the bookmaker you will need to find a match where the bookmaker has set the odds wrong. You need to find a bet that has value, to find a value bet you need to be an expert in that particular sport. When a sports book player reaches long term profit there account is limited but they are still allowed to play as sports books watch what bets they make and then lowered the odds on that outcome, so not only do you have to beat the thousands of bookmakers but also you have to beat the hundreds of thousands of "sharp" players who know what they are doing.
The profit margin set by a bookmaker is generally around 10%, the clueless player taking on a sports book can expect to lose ON AVERAGE 10% of his money each time he makes a bet, the profit margin on a roulette wheel is around 2.5% so to be quite honest take your money to a roulette table if you must insist on wasting money gambling. In summary: You would be a fool to place a wager with the amount of knowledge you have, and you would be a fool to believe a sharp would give away a tip anyway, since they will only be able to average around 10% profit themselves!
I work in a bookmakers, which have professionals working in the back and I trade sports bets.
- pdqLv 79 years ago
LegFuJohnson has the best answer so far. You wanna be a sports bettor? Fine - put your balls on the table and just bet every penny you have on the first game you have a "good feeling" about. I promise you that gut feeling will be equally as good a guess as anyone else can tell you. If anyone ever tells you that they have a "sure thing" or a "lock", they are either lying to you so they can sell you something, or they are an idiot, or both.
Have fun watching your money go up in flames.
- grbrgLv 49 years ago
You need to find some Lithuanian B League soccer or study the stats find where the bookies are wrong and capitalise, you know something where theres no media attention
It wont be easy, only 1% of sports bettors have found an edge and can successfully beat the bookies,
If you have money to burn you could just take 2 favourites where the outcome cant be a draw like baseball or tennis or an extreme favourite with a handicap, but my friend you WILL lose eventually!
- Anonymous9 years ago
My brother doubled his bet and lost major money - it's just too much of a risk and wouldn't you must rather save that money and double it by SAVING rather than lose it within minutes?