Sports betting has been around forever, but it rarely has been a legalized form of gambling. For example, in the UK, betting shops weren’t allowed until 1963, and in the US, it took a Supreme Court 2018 decision for states to gain the right to regulate this pastime how they see fit. The latter spurred a dramatic sports wagering boom in the United States and worldwide. In 2022, the global betting market managed to rake in $83.6 billion in revenues and is on track to grow at an annual rate of 10.3% for the next seven years. If some find these figures staggering, the estimate that 46 million Americans bet on the NFL coming from the American Gaming Association will be equally, if not more, jaw-dropping.
With this hobby expanding so drastically everywhere, the notion that people can embark on it as a profession is entering more and more people’s minds. While that career choice does present various challenges for success, many believe these hurdles are manageable. In other words, if someone puts in dedication and commitment to knowledge. Then, it is possible to turn a long-term profit via betting.
Below, we provide info on how people can make this dream come true.
Success Stories
It takes work to make money betting. Bookmakers take various precautions to limit bettors’ success rates by limiting bet sizes and reducing odds. However, despite these things, some individuals have been successful in this practice. In this subheading, we rattle off three such stories.
Ben Patz, nicknamed Parlay Paz, is a Columbia Business School graduate who created his moneyline parlay (multiple bet) tactics that aided him in making more than a million dollars in a three-week run. His most famed slip in this stream was a thirteen-game parlay through which he turned $7,000 into $333,000.
Then we have Billy Walters, who may be the most recognizable sports gambler ever. Walters earned this label by building a $200 million net worth. He did so, specializing in head-fakes or making wagers on the early line opposite his favored position to swift the spread and push it in a beneficial direction, then placing his chance on his valid pick at a much better price point.
Lastly, we shed some light on the story of Bill Benter, who came up with deep-state horse-race handicapping. His take on betting on thoroughbred races entailed implementing an algorithm that factored in one hundred and thirty variables to produce a horse’s true winning odds, giving him a long-haul profit of 24%.
Leverage Technology
Without question, technology use has become a game-changer in the modern gambling landscape. Thanks to the innovation of advanced analysis tools that supply in-depth insights into performance (team/player).
ZCode is an AI-based software that dominates this landscape. It utilizes an advanced formula that implements around eight parameters and delivers predictions via a model that looks at hundreds of thousands of events. StatisticSports is another detailed stats instrument that many find nifty for back-testing strategies, and OddsJam is a favorite for scanning odds and discovering overpriced ones.
We should not fail to mention Accuscore, a leading simulation engine for predictions that many veterans swear by.
The Financial Risk of Betting
Wagering money on events with uncertain outcomes can lead to financial peril. Some gamblers swear by incorporating progressive, positive, and negative betting systems like the Paroli and the Martingale patterns. Nonetheless, relying on these requires fate that an extended losing streak will not hit, and that is just not a quality approach to gambling due to the activity’s unpredictable nature. Consequently, using these systems can lead bettors into massive losses they cannot recoup because they have depleted their funds.
Gambling using cryptos, swelling in popularity, can also be dangerous due to virtual money’s inherent volatility. Yet, many operators are pushing for their utilization, as this BetNow review shows, advertising them as a faster and fee-free solution compared to fiat methods. Most Internet bookies even list more lucrative bonuses for crypto users to get bettors to switch to these payment options.
On a final note here, in any betting pastime, it is pivotal that gamblers are aware of legal changes that can affect the sector. Furthermore, they should know that keeping a cool head is critical, as is avoiding emotional wagering, and realize when it is time to walk away.
What Tipsters to Follow
There is no shortage of individuals marketing themselves as gambling experts on social media. Still, a few successful bettors exist who give out advice publicly and have the track records to prove that they know what they are talking about.
Lemonado is a renowned tipster that promotes around sixty tips per week, boasting a success rate of 48% and a recorded return on investment of 7.3%. Zenith is another quality pick whose history shows a 13.3% ROI and a 43% rate.
Other accounts to follow are SafeBettingTips on Telegram, Geordie Tipster on Twitter, and TipMan Tips, a dedicated tipster community platform.
To Wrap Up
To sum up. Attaining a sustainable livelihood with wagering on sporting events is realistically feasible at a legitimate site. To accomplish this feat, interested parties should learn from case studies, leverage software, and learn from the experts. That means that a blend of dedication, a lust for knowledge, and informed decision-making is necessary to open the doors to profit from betting.
