How much can you make following a tipster? (really)
At one point, every sports bettor would have pondered the question: “should I get a tipster’s opinion first, before betting my money?”
This is the part where you seek out a tipster, which is a person who earns a living by recommending bets to punters. Just like in every other industry, there are different types of tipsters you’ll come across.
Some tipsters are excellent, others give awful advice, and then there are the scammers. But, knowing how to utilize the advice of a good tipster to your advantage, can go a long way in helping you make money in sports betting.
Understanding how much you can get out of a sports betting tipster is important, no matter if you’re signing up on your mobile phone or visiting a land-based sportsbook in person.
In this article, we discuss how to identify good sports tipsters, how to earn money using tips, the benefits of following a tipster and how to maximize tips to earn profits in the long run.
Similar Article: Can You Make Money Backing The Favorites
Article Content:
- 3 ways to identify a good sports tipster
- Benefits of following a tipster
- Make money following a tipster
- How to utilize sports betting tips
3 Ways To Identify A Good Sports Tipster
There are lots of bettors who search for tips because they want to increase their odds of winning.
But, your main goal should be to come out on top every time and value betting as well – this means you should bet in a way where the probability of you winning is greater than the odds reflected by the bookmaker. Doing this is your best chance of gathering long-term profits.
Same way, there are many bettors who just want to pick the winner. And oftentimes, the demand for betting tips outweighs that of value bets. This proves that seeking advice from a knowledgeable third party can place you ahead of other bettors.
Thankfully, finding a good sports tipster isn’t a difficult task. These are 3 ways you can identify one, below:
1. A Good Tipster Charges Money
It is better for you to pay for the services of a good tipster and be sure you’re getting the best because free tipsters can be audited and might not be legit.
2. Avoid Acclaimed “Insider Information”
Any tipster claiming to have “insider information” or advertising any other services in this manner, is most likely a scammer and you should not get involved with them.
3. Read Bettors Reviews
The best way to learn, especially in sports betting is from the experience of other bettors.
So, when you find a trader, ensure that you go through the reviews left of their pages and pay attention to the ones that raise concerns.
You should also feel out about their services. If the tipster has a good track record and is recommended to be honest in their dealings, then use them over the ones who promise you quick profits.
Benefits Of Following A Tipster
While it is always advisable to use a Prediction Site to place your bets, there are still some really good benefits that can come out of following a tipster:
1. Higher Earnings
When you work with a talented and professional tipster, you increase your chances of earning more money.
To measure how much you can make following working with a tipster, calculate the return on investment in the time you started working with them.
You can also delve into the tipsters’ records to see if they’ve produced results before, this should give you some confidence that they can work the same wonders for you.
2. Getting Valuable Insights
Sports tipsters who know their onus are experts in their respective industries and should be regarded as valuable sources of insights and information on a particular sport.
For example, if what you need is Football betting tips, the tipster you use should be a renowned expert in this sport.
By combining their vast knowledge with unmatched mathematical skills, these experts can give you vital insights.
Additionally, since sports betting is a social event often done amongst friends, having a tipster in your corner can give you a much-needed headstart.
Don’t forget, anybody advertising “insider info” is most likely trying to fill their pockets rather than genuinely help you make money.
3. Managing Your Opinions
There are a million thoughts that come into your head when placing a bet, and most of them translate to opinions that require immediate action.
If you have a gut feeling and don’t want to run it by your friends for fear of them acting on it, using a sports tipster is what you should do.
A tipster takes some stress off your hands by either confirming or condemning your selections. No matter what they do for you, you’ll come to bet with a much clearer mind.
See: How Do I Make Money From Football Betting?
Making Money By Following A Tipster
Earning profits in sports betting is more about getting the odds to favour you and constantly being on the right side of statistical probability than it is about knowing how a sport works.
Working with an experienced tipster can get you there faster, but you too can get the odds in your favour by yourself if you can just identify small prices that represent value.
Value is where the price is more than the true probability; a defect in the market or the bookmaker has made a mistake.
To make money while following a tipster, you would also have to put in some effort on your part to amplify the tipster’s abilities.
Here is a quick rundown of what you should do, so that you can process this information faster:
1. Find Value Bets
To find value bets by yourself, you’ll need expertise in understanding odds, modelling prices, and reading betting markets.
But, if like most bettors you don’t possess the time, skills, or expertise to always perform the analysis for identifying value, you can opt for a tipster’s advice.
2. Don’t Enable Tipsters Fantasies
There are tipsters who try to get bettors to believe in a made-up fantasy story, where winning is a simple process that can be achieved by merely following their bets.
They sell you these stories in the interest of their own pockets because if you keep paying for consultations, they can keep earning off of your mistakes.
The truth is, earning money from sports betting is a harsh reality where you lose a lot, compared to the notion sold to you by tipsters that it is easy.
Call out a tipster’s bluff by asking the oblivious ones why they are selling out their tips for money, instead of backing it themselves and making a living as professional bettors.
3. Avoid Guess Work
To acquire long-term profits as a bettor, you must find value bets. And to do this, there needs to be an edge; a reason why the odds you’re backing are greater than the true chance.
Many tipsters can’t find the edge, they just take wild guesses and if they happen to be right a few times, they toot their own horn about how great their tips are.
Guaranteed, a few well-timed educated guesses will make you money in the short term. But when put together over a long period, you won’t have any real profits to show.
That is because ‘expert’ guesses can’t touch the edge which is found in numbers, rather than the tipster’s knowledge about the sport.
4. Embrace The Workings Of Professional Betting
While following a tipster, you must also be ready to fully accept the random nature and mathematical probability of professional betting.
This means you must acknowledge that anything can happen.
But, it is now up to you to make profits from this uncertainty by working out an accurate estimate of the likelihood of a particular occurrence happening. Then bet on it only if there is a price that shows an implied probability less than the estimate.
Another tool to have is a good knowledge of a sport, it’s even better if it’s a sport not many people can figure out. Create models, and read patterns within the markets of different bookmaker prices.
No matter the method you use, ensure that your estimates about a probability are infinitely correct enough to give you an edge in the market so that you find value bets easily.
5. Spot Fake Profits
Most tipsters use a number of tricks to provide an illusion that makes their loss-causing guesses look profitable.
They use the Survivor Bias scam to only show snapshots of favorable real results – for instance basing ‘profit’ figures on an arbitrarily small sample of results that started after a big win.
Or a service where tipsters only display results of other tipsters who recently made a successful prediction, while hiding from the public eye the other ones who made huge losses.
There are still a small number of tipsters who can actually do the analysis for gaining a long-term edge so that they can keep finding value. Such experts generate ‘paper profit.’
That means if you do your own analysis of the profit/loss using their tips based on the prices displayed by bookmakers it’ll show a surplus. These so-called ‘profits’ are an illusion and only work if you can get the bets on at the value price.
Read also: Betting Basics: How Do Bookmakers Make Their Money?
How To Utilize Sports Betting Tips From Following A Tipster
We have to tell you, following a tipster although it is sometimes encouraged is sometimes a slippery road which you should tread carefully. If you must use one, be intentional about every move you make based on their advice.
That being said, here is how to make the most out of a tipster’s tips:
1. Use more than one tipster and keep detailed notes of every piece of advice they give you.
If you have the bankroll for it, keeping a handful of sports tipsters in your corner can help you.
Take note of how each of them performs. Eventually, their success rates and your long-term return on investment will determine who you should keep and who to let go.
2. Have a separate bankroll for every one of your tipsters.
A bankroll is always a good way to track your ROI on bets and can do the same for your tipsters.
No matter what, stick to your original strategy for bankrolled management and don’t try to exceed it.
3. Ensure that you choose the best available odds in the market.
Take your time to find the best odds surrounding a matchup with the assistance of an odds comparison website. Selecting the best odds can make or mar a bettor in the long run and also affects the size of your profits.
Note that, odds often have a tendency to shorten the second a tipster sends out a tip because bookmakers on the backend end of a sports betting website are probably keeping records of which bettors are following a specific tipster.
However, inefficiencies in the system allow you a window to place your bets at the odds recommended by the tipster you follow. Stay informed with any information provided on oddsmakers’ ranking.
4. Be proactive with your betting.
Stay punctual and regular regarding placing the prescribed bets. Once a tip gets sent out, place your bets immediately.
5. If you must trust your tipsters, do so wholeheartedly.
Sports betting in itself is a game of high risks and returns. If you find a tipster you trust, then follow their advice.
This is important especially when you are experiencing a losing streak. Having a plan, someone in your ears who guides your hand towards winning bets, and following through on their advice is how to make a profit or ultimately disregard that tipster in the future.
6. Set realistic goals and expectations.
You may have experienced what it feels like to win big on a bet, but know that recreating this is not going to happen on a straight road.
If you must grow, it will most likely be moderate. So, manage your expectations when following a tipster.
7. Don’t immediately increase your bankroll significantly after a successful season of sports betting.
Being lavish with their bankroll is one common trap bettors fall into, especially after they’ve made massive profits.
After a winning season, increase your bank conservatively. Remember, the point is to take in more money than you give out to sportsbooks.
Sports betting is entertaining, intriguing, and exciting, and following a tipster, the right way, which is with your head can enhance your chances of succeeding in this industry.
Can You Make Money Following A Tipster?
Yes, you can. But this is based on two things – if the tipster is proven to be good at identifying value and if his tips come on an exclusive basis.
No other quality is acceptable if those two things aren’t present.
You must get yourself a tipster whose methods are genuine and who can constantly dig out value. Also, their tips must be exclusive so that you can back at the prices they’re advising and leave your betting channel open.
Finally, ask the tipster these three questions before paying them a dime for their tips:
1. If your tips are that good, why won’t you just back them?
2. What edge do you use? How do you identify value bets?
3. How do I bet decent stakes using your tips, so that my profits can be more meaningful?
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