Online sports betting, for no doubt, is the most rewarding activity for aspiring sports fans. In the current days, most people gamble online on their favorite sports not just for having an enjoyable time, but to earn a huge amount of money with their sports knowledge and gambling skills. Legalized Internet gambling has taken India by storm. Over the last few years, bettors are earning millions of rupees in sports betting.
Biggest Sports Betting Wins In The History
Top Indian sports betting sites such as Bet365, Betway, LeoVegas Sport, are producing the greatest sports betting wins of all time. The sharpest bettors with good bankroll management and proven strategies are getting unbelievable wins and making a new record. One tennis fan won a huge amount beyond the grave. After securing the 7th position, the winner passed away without collecting his winnings. He donated all his belongings to an anti-poverty charity.
Another well-recognized worldwide punter who gambled on horse racing won 300,000 British pounds. Like these bettors, several gamblers are getting wins of more than millions of dollars in the sports betting industry.
Best Tips To Earn $100,000 Or More A Year
There is no magical formula to become a multi-millionaire in a day or a week. But, you could attempt to generate $100,000 a year by betting on sports. It is not a joke, but you can make it real with proper bankroll management, calculations, and mindset.
1- Learn What Winning And Losing In Sports Betting Mean
In the ladder of successful sports betting, the first step is to understand how often you have to win. Wagers break-even point with 10% vigorish is 52.4%. The profitable journey starts when you win something higher than 52.4%. Bookmakers, on the other hand, takes about 10% vigorish from losses. Hence, to break even you have to win 11 out of all 21 wagers. However, in reality, most of the bettors win between 53.5% and 55% of their bets. It is quite challenging to win at the rate of 60% of bets because bookmakers set lines for equal action in both directions to assure a profit with 10% juice.
Punters winning 50% of their wagers often lose money over the long term because they have to pay a 10% vigorish per every losing bet. That’s a reason why it’s good to win around 55% of bets. But, make efforts to improve the winning percentage and try to win at the rate of at least 53% of wagers.
2- Define Your Goal
The next step is to set your betting goals and break them into smaller goals. To earn a profit of $100,000 within a year, you have to grow your winnings significantly over the duration. You may win 3-4 figures in the early stages and then grow over time to multiply your bankroll using received winnings. Defining a clear profit goal helps in getting an idea of bankroll and average wagers types you require for the achievement of a goal.
A goal of winning $100,000 a year can mean generating $274 per day, $1924 per week, or $8333 per month. But, make sure that you keep some patience and a consistent pace to remain strict to your goal. Don’t forget to track your progress to identify where you stand in achieving the goal of winning $100,000.
3- A Large Bankroll
Bankroll management is one of the most important theories in gambling. To win $100,000 in a year you have to bet a big. Thus, find out how much you stand to win for your bet size and winning percentage. Get well-versed about terms – “Annual Percentage Rate” and “Return On Investment”. Determine the appropriate bankroll size based on your consistency at selecting winners, the number of games you bet on, and the total amount you place a bet on each game.
4- Beat The Sportsbook
You cannot beat the sportsbook in the long run if you cannot win a minimum of 53% of the time. Thus, it is essential to work harder by doing detailed research and gathering & analyzing updated statistics than a bookmaker. Create your system to figure out rewarding betting opportunities. Have your mindset to do everything it takes to find a better edge with profitable betting.
5- Spread Your Risk
Spread your risk over multiple games by making wagers on different types of games. It helps in getting regular money betting on all selected sports and diversifying your bankroll. But, make sure that you bet only on those games that have the potential to give you the best edge.
6- Value Betting
It simply refers to finding the best value in lines regularly to determine which one gives you higher deals. There are numbers of free apps available online such as Valuebet that helps you find movements in various sportsbooks. Just remember that these apps would not guarantee 100% accuracy.
7- High Betting Limits
Almost every sportsbook has betting limits with minimum and maximum amounts. Therefore you need to make sure the sportsbook can take your bet.
Generally, large Asian bookmaker allows maximum deposit and withdrawal up to $100,000 and $1 million respectively. Big bookmakers allow deposit and withdrawal up to $10,000 and $100,000 respectively for a single transaction.
8- Be On Top Of Your Progress
To determine how much you can expect to win, first find out your average bet size, winning rate, and losing bets. Then, multiply your losing bets by 1.1 to get total losses. Reduce the total losses from the winning rate to get total wins. Now, multiply your total wins with the average bet size to figure out the overall profit.
For example, you have an average bet size of $500 and a winning rate of 57%. It means you’ll have 57 wins and 43 losses out of 100 bets.
Total losses = losing bets x 1.1,
43 x 1.1 = 47.3 total losses.
Now, find total wins using the formula: total wins = wins – total losses,
57 – 47.3 = 9.7 total wins
Overall profit will be 9.7 x 500 = $4850
9- Matched Betting
This is a unique form of gambling that describes a strategy where a punter can receive free bets across various web-based bookmakers. By hedging wagers on 2 different sides of a line, gamblers can reduce the possibilities for risk and accumulate free bets.
Betting on both opposing sides of a line can sometimes be a free bet. Before depositing the amount, make sure that you properly and carefully read the associated terms and conditions as most of the bookmakers require certain wagering or playthrough requirements before withdrawing the winnings.
10- Frequent Underdogs Betting
Betting on underdogs more often to get more value. According to the study, bookmakers put point spreads somewhat against favorites.
Please note that making millions of dollars in online sports betting requires constant efforts over the long term. Dedicate enough time and effort using these 10 tips and you might be able to win $100,000 or more per year.