How do I make money from football betting? If you’re wondering this, our article provides detailed points on how you can make money betting on football.
Football is the world’s most gambled-on sport, pulling in more than $500 billion in wagers, from all over the world.
Considering the amount of money bet on football daily, and the fact that bettors have hundreds of Football betting tips at their disposal, making money from this game should be easy, right?
Sadly, that is not the case. There is a tiny fraction of people who actually make money from betting for football. Statistics say that 98% of gamblers lose money to football wagers.
Betting markets are excellent at predicting the outcome of a match. However, when there is an opportunity to make money, it is often exploited and then sealed immediately after the markets start to catch up.
But, there are a few ways you can make money from betting for football, and some of these ways are risk-free.
Meanwhile, check this out: 5 Ways To Make Money Online With Sports Betting.
How To Make Money From Football Betting
The race between bettors to make money from football betting is fiercely competitive. Everybody wants to be a winner, which means they’ll have to be twice as good and better at picking odds.
If you too want to cash out from betting for football, follow the steps we have laid out below:
1. Don’t Bet At The Start Of A Football Season
If you want to make money from football betting, ensure that you do not bet at the start of a football season.
Instead, take this time to learn about each team, after they would have played 5 games. This helps you get your analysis straight.
2. Identify Overpriced Betting Markets
Most times, odds for every betting market favour the bookmaker but never the bettor.
However, sometimes, an experienced bettor can identify betting markets where the odds favour the bettor and not the bookmaker.
These types of bets are rare and are referred to as value bets (bets that were overvalued by the bookie). Consistently placing value bets is a trusted strategy that guarantees long-term earnings.
3. Use Matched Betting Products
Using matched betting products is a surefire way to make money from football betting.
What matched betting products do is that they bring together all the free bets and bonuses presently offered by bookmakers, and show you how to set them up to earn money.
Since bookmakers operate in a competitive space and are desperate for your patronage, they keep offering you these promos to keep you betting.
And rather than betting your own money, you can utilise these offers to earn risk-free cash weekly.
4. Use Draw Bets
The majority of bettors wager on the one-game team, but only a few have the sense to wager on draw games.
The amount deposited for betting on draws is far less than what you would pay for betting in other areas. This is because the market for draw bets is not as high as when you back one side of the game.
Please note, experts advise that this strategy can cause you losses in the long run. So, only deploy it after the odds show a draw between two clubs. Or you know the factors in play that could lead to a draw match.
An example of a matched betting website you can use is OddsMonkey.
Read also: 5 Things To Look Out For When Researching For A Football Bet.
5. Focus On A Particular League
Focusing on a specific league is one secret to being a successful bettor.
Specialise in a particular league and learn as much as you can about each club in that league. Also, bet on league matches only as often as you can.
6. Keep Track Of Your Progress
Tracking your progress is an underrated, yet smart strategy most bettors tend to overlook when betting for football.
To put it simply, if you want to make money from football betting, then have a record of all your wagers. This record can contain how many times you’ve won a bet and the number of losses too.
Additionally, a record lets you:
- Know how much money you’ve won or lost so far.
- Make informed decisions about future wagers.
- Get, analyse, and conclude from data.
7. Bet Against The Crowd
Herd mentality is one of the reasons why most bettors often forego their own instincts and instead blindly follow pro traders and tipsters.
Rather than be like the herd, try to create your own football betting strategy. Although this might be hard at first, you will be grateful you did it in the long run.
To get started, go “against the crowd” by betting against the big names and backing the lesser-known teams who are often better.
8. Listen To Experts
While you figure out how to create your own betting strategy, you can still listen to football betting experts to get their thoughts on each match.
Betting experts often share their game strategies before a match begins. You can use these tips to get insight into half-time markets, over/under bets, and the total score of both teams.
Similarly, using a Football prediction site gives you a preview of how each team will play, their strengths, weaknesses, and any additional information that should influence your bets.
9. Expect Change
You could do research for weeks and draw a perfect picture of how a match will turn out, and in the end, a minor change can cause all that hard work to tumble down.
Keep in mind that no matter your analysis of a game, any result is possible.
10. Set A Bankroll
A bankroll is the stipulated amount you set aside to fund your bets. Having one ensures that your wagers are adequately funded and you don’t exceed your deposit limit.
If you don’t set an amount for your bankroll, you’ll blow through the whole thing in a week. And in the end, you can’t give an account of how much you lost or gained.
Similarly, have a staking plan to work with. This can be $5 per stake and you could increase the amount as you go.
11. Follow Top Traders, But Not Blindly
In addition to listening to experts, following top traders is another good way to make money from football betting and also know what the market is saying.
Most Football Prediction sites provide you with the option to follow their pro traders in a live chat room. In these chat rooms, traders share the games they will be trading, their strategies, and in-play moves.
12. Avoid Backing Your Favourite Team
Just because a team is your or the bookmaker’s favourite, doesn’t mean that they will end up winning the game.
Although you should leave nothing to it, football is a game of chance and anything can happen. Even things like the team said to have critical chances of winning the match, making a strong comeback and winning the whole thing.
Bet with points and not by playing favourites.
See also: D0’s And Don’ts To Winning In Sports Betting.
13. Don’t Overdo
Only place bets on markets you can afford. Be content with what you have and focus on the money in your bankroll.
14. Be Disciplined
Do not bet on all the betting markets provided by bookmakers. Instead, use that time to build a disciplined football betting regimen.
Turn your attention to single leagues, teams, and bets you can learn and become an expert in.
Understand the inner workings of the league you choose and identify money-making opportunities when choosing favourites and underdogs.
15. Do Not Overspend On Betting
Yes, you want to bet more to earn higher, but there must be a limit to how much money you spend on football betting monthly.
Stick to your bankroll and never exceed your budget no matter how intriguing a match is or even if it features two favourites.
16. Never Get Greedy
Most bettors lose their money due to greed. They want to stake low amounts and win a higher payout by accumulating up to 5-10 matches on a single ticket.
Don’t do this for the sake of your pocket. Simply bet on 2 or 3 league matches and call it a day. Stop accumulating bets for every match in one day.
17. Steer Clear Of Decisive Games And Finals
If you want to keep making money from football betting, then one rule you should follow is to steer clear of decisive games or final matches of major tournaments.
For a game where one team is heavily favoured, avoid betting on those too.
This is because these events are often prepared by bookmakers who manipulate the odds, leaving you with no margin for profit.
18. Constantly Check The Odds
The lower the odds, the higher the probability of that bet winning. If you’re new to football betting and are sceptical of Value betting, then pick markets with small odds.
Your profits for these markets won’t be very high, but your chances of winning them will be.
Skilled bettors, can compare odds and place their bets with the one with the best odds.
To make money from football betting, ensure that you practice the steps we have listed in this article.
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