When it comes to making money online with sports betting, then there are tons of opportunities. Everyone can have their own edge and everyone can make money. I’ve gathered here ten ways to make money online with sports betting. There are more, but those ten should cover most in the sports betting market. I’ll start with most popular ones and continue with less popular ones.
1. Sports Betting
The obvious one and the most popular one. Simply by betting on sports you can make money. You decide on what sports you bet and after the result you’ll see if you won or not. That easy.
Pro for making money online with sports betting is that it is the easiest way to start. You deposit your money on some bookmaker site like Bet365 and you’re off. Also you can make a bet when ever you feel like it so you’re the boss of your betting time.
Con is that to make money by betting your own bets you really need to work on those bets you make, because bookmakers usually know more about the match, than you do. 95% of players involved in this group end up losing money instead of winning.
- Bet365.com – One of the world’s leading online gambling companies
- WillamHill.com – World’s biggest bookmaker
- Top100bookmakers.com – list of top 100 bookmakers you can bet.
2. Tipster Betting
Quite similar to usual Sports betting, but now you don’t make the choice on what match or what bet you make, but some other guy called Tipster will tell you where is the bet. There are thousands of tipsters all around the world from free tipsters to tipsters who cost hundreds or possible thousands of euros per month.
Pros for making money online with tipster betting are that you don’t have to look up matches yourself and all the research is done for you. Also tipster usually should be more experienced than you.
Cons with tipsters are that it is hard to find really good tipsters and usually the good ones cost quite a bit. Also you’ll never know, when the bet is coming, so to get on as many bets as possible, you need to be alert all the time.
Thankfully there are some good sites where you can see all the statistics from tipsters unlike twitter, where people can delete their losing bets. Luckily for twitter I have found also one page, that tracks Twitter tipsters. All sites included in examples.
- Blogabet.com – Biggest social network for sports bettors includes free and paid tipster services
- TipsterTube.com – Platform for free and paid tipsters
- BetRush.com – Platform for free and paid tipsters
- CasualGambler.net – Twitter tipsters reviews
3. Matched Betting
Matched betting by wiki definition is a betting technique used by individuals to profit from the free bets and incentives offered by bookies. It’s generally considered risk-free as it is based on the application of a mathematical equation rather than chance.
So it means that you only use bookies bonuses to make money. It is quite easy to learn technique, but it’s also not the most profitable and fastest way to make money with sports betting
Pros for this betting technique is that it’s almost risk-free so you don’t have to deal with long stressful losing streaks or very unlucky match result. Also there are free calculators and free services you can use, to get your bettings right.
Cons are that you can only use bonuses, so if you don’t have any bonuses available, then you can’t bet and that you usually win only small margin from a bet, so do make good money you have to get on loads of bonuses.
- OddsMonkey.com – Free matched betting calculator
- MatchedBettingBlog.com – Free Matched betting service.
4. Arb Betting
Betting technique also called Arbing, Arbitrage Betting, Scalping and Surebets is the process where you bet to take advantage of the variation in odds offered by bookies, in order to make a profit regardless of the outcome of an event. It is a bit similar to matched betting, but here you don’t involve bonuses. As it is sure win betting techique, then the profit margins are very small. If you get more than 1% ROI from bet, then it is very good margin for arb betting.
Pros are pretty much the same as in Matched Betting – no losing streaks or unlucky losses and free softwares to help you out.
Cons are a bit different. You can always search out surebets, not like bonuses, but with arb betting the main issue is that bookie don’t like arbing account, so they effectively limit accounts where gamblers use arb betting.
- BetBrain.com – Free surebets list
- OddsPortal.com – Top 10 surebets
- Scalpulator.com – Free arb betting calculator
5. Affiliate Service
Now going away from daily sports betting there are many other ways to make money with sports betting. First and most popular of them is Affiliate service. It simply means that you recommend people to sign-up and bet on bookies from your link and after that you will get commission. Many free tipsters use this model to make money, especially popular in Twitter and review sites.
Pros are that you don’t need to make a bet yourself and most of the bookies have affiliate program.
Cons are that you need audience to sign-up through your links and if you don’t have audience, then it will take a lot of time to build one. Other issue is that margins usually are quite small, so firstly you will start to earn coins, then euros and then maybe more.
- BettingAffiliatePrograms.com – List of bookies who offer affiliate programs
- OnlineAffiliateWorld.com – Top 12 list of Betting affiliates
6. Paid Tipster Service
Probably second most popular way to make money with sports betting, without actually betting is paid tipster service. It means that you ask bettors money to give out tips or any other information about sports betting. For this kind of service it is good to have a good background in betting, otherwise people are not willing to pay you money for tips.
Pros are that you get your periodical income from subscribers despite your betting result and you dictate the time of bets. Also quite easy and cheap to set up nowadays.
Cons are that you need to have a good tipping results otherwise no one is paying you the money. Also you need to actively search for good bets, because subscribers only pay you if they win thanks to you more than they invest.
- Blogabet.com – Paid tipsters market. Easy to set up your premium account also.
- TipsterTube.com – List of free and paid tipsters. Easy to set up your premium account.
- Tipster.is – Premium tipsters list. Need to have a good background to get in.
7. Become a Betting Fund
Now we get to more specific and harder categories. The model is simple. People give money for you to make bets with it and you take commission from your winnings. There have been many legal issues with this idea, but it has been done already many years. Now the first mutual fund for sports betting has become legal.
Pros with this idea are that you don’t risk your own money and with some big investors you can start to win really big. If you show some good results.
Cons with the idea are that you need investors, which maybe a quite big problem at first. You have to prove that you take care of people money and win them more of it. Also all the legal issues with investors and taking care of the stress that you can’t lose other people money. Finally, if you grow bigger there will be liquidity issues, you can’t bet every amount you would like.
- BettorInvestments.com – First ‘Mutual Funds’ For Sports Betting
- OddsInvest-Trading.com – A Trading and Risk Handling company in the Sports Betting Market
8. Develop Software
When it becomes sports betting online, then obviously software is involved. Idea is again quite simple. You make a software that makes people easier or more profitable to do their betting. I could write many blog posts about different betting software, but here I analyze the idea of making money with sports betting software.
Pros of developing sports betting software are that once you have developed it, it is there and you can sell the software or subscription for many users without doing anything. Also your income doesn’t depend on your or your buyers/subscribers results so you have passive income without the risk of sports betting. There are also many other ways to monetize your software like affiliate service or advertisement.
Cons are that it is expensive and hard to develop a good sports betting software. It takes huge amount of time and after you’ve built it you have to promote your product and convince people that your product is better and more useful than other similar products.
- Bettin.gs – Bet-tracking software to handle better your sports betting
- Betangel.com – Betfair toolkit
- WellDoneSoft.com – Trading tools for Betfair
9. Write a Sports Betting Book
Another way to make money online with sports betting is that you write a (e-)book about sports betting. Idea with it is similar to software. Once you write a book, then you can sell it to people without any extra work. Obviously the same struggles will be involved as in developing a software. Why people will have to buy your book not others or what is you unique take on sports betting.
Pros of writing a sports betting book are like for every other book. You can sell it to anyone without any work, once it’s finished and you don’t depend on betting itself.
Cons of writing a betting book are that you actually have to write a book. Which may take like a half year or so and you’ll never know, if it’s any good before launching it. Also finding a unique take on sports betting and network of buyers might be quite a struggle.
- Amazon.com – Over 3000 books when searching “sports betting”
- Onlinebetting.com – Top 3 Books to Read for Sports Betting Strategy
- Pinnaclesport.com – Three must-read books for bettors
10. Become a Bookmaker
Final way to make money with sports betting is to become a bookmaker yourself. It might sound a little crazy at first, but actually there are many approaches to this idea. You can build your own website, battle all the legal issues and come out as a new bookie or you can use some existing services to provide their odds under your brand. After that there are even easier ways. You can use existing platforms and licences to make your bookmaker site and the simplest way – you just provide odds on anything you can think of in existing betting site.
Pros are different for different strategies, but the idea should be that you win money on every bet made on your site by taking (hidden) commission on bets or cash-outs. Also this might be the most profitable way to make money in sports betting world.
Cons are that to make really good money, you should start your own brand. It takes a whole bunch of money and the competition is really hard. By using other ways of becoming a bookmaker, then the commission is a lot lower, because everyone wants their piece.
- BetRadar.com – Full betting service provider
- MyClubBetting.com – Provide existing odds under your skin
- BetMoose.com – Make up any bet on existing platform (bitcoin)
Those were the 10 ways of making money online with sports betting. There are many-many other ways to make money in this field, but I hope everything important is covered. If you think I forgot something, then let me know in the comments section.
What I recommend is to combine few of the ways to maximize your profit. I do my own sports betting, I follow some tipsters and I have done matched betting. There are no right and wrong ways in this, just different paths. Some don’t handle losing streaks, then arbing and matched betting should be the way. Or if you want to go really big then why not to build a software or start your own Bookmaker brand.
Thank you for following this blog post. It was more than 2000 words. So my respect to you! If you have any questions about those different money making ways, then leave a comment and I will try to answer as soon as possible.