How to Make Money Betting on Sports
- Updated: April 27, 2012
How to Make Money Betting on Sports
Many of you reading this today will have asked yourself this question possibly many times over, ‘how do I make money betting on sports?’
Well hopefully this can get answered for you today as we fill you in on some inside knowledge with the steps necessary to making money on sports betting. Some of you may be aware of these and others will not, but these are all things you can do which will make you a better sports bettor.
Let’s put the advantage firmly back into your court, as we bring you the important steps to making money on sports betting:
Pick one betting strategy which you firmly believe in and is uncomplicated and easy to use. Far too many people search for so many different strategies and systems and whatever else that you just end up confusing yourself with too much information and analysis. Too many of these fail to deliver the long-term constant results that you are after. The best strategies are more often than not the least complicated ones, those which are plain and simple to use and follow.
The sports betting strategy used at SportChalk is one that has been tried and tested for a long time now. It’s easy, effective, suits each individual bettor, and best of all requires very little effort to understand and implement. And one other thing, it will do wonders for your long-term profitability.
The method used incorporates understanding how backing favourites relates to high probability outcomes which work to make you money over the long-term. If your sports betting strategy is not working the way it should, you may need to do more research and what better place to start than on this very website.
Be smart and sensible with your sports betting and follow some type of criteria which allows you to prove which games are worthy of betting on, and which games should be passed. Successful sports betting does not involve betting on each and every game just so you can be part of the action, its means being selective and only finding the ideal betting propositions.
This is where you will need to do your own homework and analysis, review previous games and find statistical information which supports your view. Do not fear that you are missing out on lots of action by being selective, there are sports betting opportunities each and every day. Just imagine if you could pick one winning game every day, you would hands down become a professional sports bettor in no time. It isn’t necessarily the quantity of the bets, it is also the quality of the bets.
Keep a journal or a diary of all your sports bets and make sure you regularly use and maintain this, just as you would a business/personal diary or a car log book. This cannot be stressed enough but you must understand the huge importance behind keeping a track record of each and every bet you enter into. If you aren’t willing to keep a record of all your betting activities and regularly analyse your previous betting history, it will be very hard for you to make money in sports betting.
The process of starting and updating a sports betting journal is so easy and simple, its benefits will far outweigh any concerns you may have of why you need this in the first place. Your journal will give you discipline and structure in your betting and not to mention the amazing knowledge you will gain from analysing your betting. If you want to become anything close to a winning and successful sports bettor you will start a journal immediately. Rest assured that this will give you such a new perspective and a fresh approach which will drive your success very far. Remember to become organised and not do things halfway, because you will never see the profits and winning results that you strive to achieve.
Your sports betting journal will become like your best friend in betting.
Listen to yourself and what your mind and brain is telling you. People are often surprised to hear that the most powerful weapon they have in their disposal and what is more often than not the key to their success in life, is right there with them all day and every day. The area of betting psychology is such a rarely discussed topic that hardly any people are even aware of it. But the fact remains that even with the right betting strategy in place, if your psychology and state-of-mind is not fine-tuned and working in your favour, your results will suffer accordingly.
Do not be afraid to read and understand everything there is to sports betting psychology. For those who feel they are within a whisker of becoming a true betting champion, there is a good chance that this could be the missing link to your success. Listen to yourself, and the signals and emotions your mind is telling you.
Do not get greedy with what you want to achieve in terms of making money in sports betting. The phrase ‘greed is good’ may have been popularised all the way back in the 1980’s but it will not work for you in this case. The fictional character Gordon Gecko in the movie Wall Street was a high flyer once upon a time, but if you watched the sequel to the movie you will know what happened between then and now.
Instead of being greedy, maintain some realistic expectations with just what you can possibly achieve for yourself. Instead of failing and risking the chance of ruin, maintain self-composure and set smaller targets which you know are within reach. The pleasure of reaching these will be that much greater, and will just fill you with more confidence as you develop your betting prowess.
Here are a few common ideas to not fall into the trap of being greedy:
• Do not bet too frequently just for the sake of betting. It is very easy to become excited and overwhelmed with all the sporting action which goes on each and every day, but too many bets which are not carefully selected will damage your sports betting account.
• Do not risk too much on one bet alone. Remember to keep a constant bet size as this is the proven recipe for success. There will come a time when you can move this higher, but first you must prove to yourself that you can make consistent profits this way.
• A profit is a profit regardless of its size. Too many bettors think they need to find big odds which justify them making a sports bet. This is incorrect as the higher the odds, the less chance of that outcome occurring. Small and consistent profits will go a long way to ensuring you remain successful in this field.
• Bet with your head and don’t let yourself make silly mistakes. The human brain plays many tricks on us and this can create irrational and emotional decision-making which clouds your judgment. If you feel you are deviating from your original and proven method of making money on sports, take a step back and make sure you are 100% focused on the task at hand.
• Be realistic of what you can expect to possibly achieve. Start small and work your way higher once you can prove you are on the right track. Rome wasn’t built in a day, and neither was any winning sports bettor. It takes time and patience but the results will be well worth it.
Stick with your chosen method and believe that it will work for you. Whether you agree or disagree with the betting methodology used at SportChalk, once you find something that works for you and you can see that it makes consistent profits then you need to stay focused on this. This is why there are regular free sports betting tips posted here so readers can see for themselves that this really does work.
Sports betting isn’t just about winning, it’s also about being a gracious loser and understanding that losing is just as big a part of the game. If you cannot handle defeat well then sports betting isn’t for you. If you think you can be a bettor who never loses then think again. Winning equals losing, and losing equals winning. If your sports betting strategy is the right one, you will not shy away from a streak of losing bets. This will not alter your confidence or make you think twice about whether this really is for you, as you will know that sooner rather than later you will be back to your winning ways.
K.I.S.S. or ‘keep it simple stupid’ relates to just what a winning strategy should be all about. Find something that is easy to follow, simple to understand, BUT which ultimately delivers you the results you seek. Stick with this method and it will stick with you.
Don’t forget to pay yourself, because if you don’t then no one else will. If you can get to the stage where you are making money betting on sports on a regular basis, perhaps weekly or monthly then you need to reward yourself for a job well done. For some this may start out as minimal $50 or $100 withdrawals every week, but as you progress this could quite easily turn into $250 or $500 or even more. The sky really is the limit with what you can expect to earn in sports betting, but don’t fool yourself into thinking it is that easy.
At the end of the day sports betting is a business which is ultimately controlled by you and only. You do it for yourself, for your family, and to improve your lifestyle. Make sure you reward yourself if you have been making reasonable progress as this will go a long way to providing you with the confidence and the motivation to move forward. It’s all about creating a positive environment and giving yourself the satisfaction that you deserve.
Let’s hope the knowledge within this article is able to answer the question for you of just ‘how to make money betting on sports’. With the right mix of determination and inspiration there is nothing standing in your way to reach the destination which you would like to find. So don’t just sit around doing nothing, get moving and make sure you do what is necessary to become a professional sports bettor. If you want to learn more the SportChalk – Sports Betting School is a free resource to help and train aspiring sports bettors.
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