Some pretty renowned betting pros like Billy Walters, Matthew Benham and Tony Bloom who’re counted amongst the richest gamblers of the world, have developed certain mathematical betting models that have earned them a great deal of money. They’ve refined these models over a period of several years. If there’s one common thread that connects all these renowned figures, that is getting filthy rich through sports betting.
Billy Walters has established over and over again that it’s possible for anyone to win huge fortunes even outside of soccer betting. He’s an expert at NBA and NFL Football betting. However, please note, once you start betting with huge sums of money, you’ll inevitably face some organizational issues and will have no option but to surmount them.
While Billy Walters has a small team that places bets on his behalf in Las Vegas casinos, Matthew Benham created an entire company focused on providing data for his sports betting model, and developed it even further. Would you like to be one such gambling celebrity?!
Well, let’s lay some foundation first and go over a 10 point guide to help you get super rich through sports betting.
Learn how to find and benefit from value
There are several components that go into getting rich from sports betting. Of all those components, spotting value is the most important. Having this ability implies that you can frequently spot odds which are too high, and capitalize on each one of those opportunities in a systematic and consistent manner.
If you look closely, it’s a lot like trading successfully in stock markets. It makes plenty of sense purchasing a stock when it’s grossly undervalued, as it would have ample chances of appreciating in value at a later time. In the same way, if you’re someone who trades in the sports betting arena, your job each day would be to locate undervalued teams and “buy their stock” to benefit from those opportunities.
Value identification is a lot about reading probabilities in a more accurate manner compared to the market. Obviously, it would be difficult to do so, and sometimes may not be practically possible for every sport and every game, but that’s not necessary either. How you can gain major advantage over sports books like Bet365 is by cultivating the ability of skipping matches that have unfavourable odds - just like it wouldn’t make sense to buy every stock available on the market. Please remember, it is the job of the sports book to provide odds for almost every game played on a given day; if not every, at least of the games played in the most popular sports leagues.
Gaining ability to spot value is easily the hardest thing in the sports betting business and you need plenty of practice to do it correctly and consistently. Only after you learn and master how to ensure a systematic edge over market and the sports books, you’ll be truly on your way to becoming super rich through sports betting.
Master money management skills
Please keep in mind that sports betting is not just about value identification alone, having the ability to efficiently manage your bankroll is equally important. When we talk about money management, we’re essentially referring to two fundamental goals, which in a way partially contradict themselves too. They are:
– Increasing your bankroll in the quickest manner possible
– Avoiding bankruptcy as you try to do that
Provided that you’re able to consistently spot value, it is inevitable that your bankroll will grow over a period of time and will grow much faster if you regularly increase your betting amounts. However, you run the risk of getting bankrupt if you bet extremely large amounts of money every time. But this particular aspect is majorly underestimated by a large percentage of punters. Please note that random swings can wipe out almost all your fortune even if you indulge in nothing but value bets. Fortunately, you can handle this problem through a simple rule – never ever bet more than 1% to 2% of your entire bankroll on any given bet.
In the event that you find some amazing value and are sure about your estimation, make use of the Kelly formula to maximise your betting edge. This can help you place bets in a more efficient manner.
Always keep in mind that betting just like any serious investment is not a sprint, but a marathon - especially if your aim is to get super rich. You should understand that it’s not possible to become super rich overnight. It would take some time for your bankroll to swell up. The compound interest impact will help you majorly if you act patiently and successfully post a large number of betting wins. Although the growth may seem painfully slow initially, it’d naturally pick up pace and assume exponential proportions in the times to come.
You’ll need to deal with plenty of winning streaks, losing streaks, swings, learning curves and will need to place a large number of bets in the process. However, the general dynamic about the distance you can go with just 5% value is pretty amazing. It doesn’t even take lots of time!
Locate and work with the right sports book/s
There’s no way you can get super rich through sports betting if you don’t collaborate with the right sports book/s. It’s essential to use bookmakers who actually allow you and help you to score major wins, over and over again, for instance Bet365 and others. Sadly the truth is that a large majority of sports books limit the number of successful customers they’d like to collaborate with. In fact, they even ban a good number of successful punters outrightly.
Obviously, your chances of getting superrich from sports betting would be hit significantly if your bookmaker is also the same kind. However, in reality there’s a certain section of bookmakers that doesn’t place any such restrictions on its successful clients. An online casino that also doubles up as a bookmaker, and is known by the name Bet365, is one such bookmaker that you can collaborate with. It’s looked up to and partnered with by a large number of sports bettors.
How all these bookmakers function is that they have a certain business model which is founded on the concept of high volumes and low margins. It implies that they’re only interested in having the maximum action possible, made possible by small bookie margins, which translate into better odds for sports bettors. All such bookies like Bet365 accept winning bets, not because they wish to make a difference (although that’s a side effect), but because they can bank on such information and adjust their betting lines accordingly.
Place sports bets with different betting exchanges
Apart from collaborating and making effective use of bookmakers, you must also use different betting exchanges. These exchanges would normally never ban you for scoring wins, as you’d be betting against other customers and not them. Furthermore, betting exchanges can be excellent alternatives for bookmakers as they’re more likely to offer better odds and bet sizes on all major sports events and leagues. Some of the popular betting exchanges are Matchbook, Betfair, Betdaq etc.
Betdaq and Betfair may be particularly interesting for you if you bet on UK horse racing or major soccer leagues. On the other hand, you can use matchbook for soccer handicap betting and North American sports leagues.
Say goodbye to accumulators
If you’re serious about getting rich through sports betting, you’ll need to bid goodbye to those huge accumulator bets or parlays. Getting rich from sports betting is far from something like winning a lottery, as you can never plan for that! There are many reasons why adopting such a strategy isn’t practical either. One of the biggest problems about accumulators, with regard to getting rich through sports betting is that bookmakers always have an upper limit on the amount you can win via such bets. And this is irrespective of the odds. They normally do this to keep their losses to the minimum.
Find out the best league or sport to bet on
If you’re serious about making it big in the field of sports betting, focusing on value bets alone will not be the best way to go. You’ll need to locate value in leagues and sports where you can indulge in significantly higher betting limits (we’re talking about limits applicable to all sports bettors and not just a few successful ones). Getting rich betting on soccer is particularly possible if you’re able to locate value in major soccer leagues, especially because it’s a sport that has highest betting limits.
However, soccer isn’t the only avenue available to you. If you bet on American sports, you can use Matchbook and Pinnacle Sports that permit high-stakes. Betting high on British horseracing through Betdaq and Betfair is another option. But please keep in mind that early market odds may normally have low limits and betting restrictions until the time that market develops properly in the days leading up to the main event.
To give you an example, a sports book like SBOBet may provide you with stakes as high as 5,000 for an English Premier League match, a day before the kick-off, however it’s likely to offer no more than tenth of that a week prior to the match-day. You should also keep in mind that many conventional bookmakers, for instance the kinds of Bet365 etc. don’t provide any betting limits at all.
Although a large majority of sports books, including online casino cum bookmakers cater extensively to professional and new sports bettors seeking high-stakes, there are others like Pinnacle Sports that are major players when it’s about higher limits on big sports events.
Pay heed to the right experts
Although it is nice to locate value bets on your own, not everyone is an expert at doing that. You should make use of all off-line and online forums, and follow the advice of right sports betting experts. They can provide you with an objective view of your weaknesses and help you correct them in time.
Find a good agent
Also referred to as bet brokers, sports betting agents are more likely to find you instead if you’re someone who loves betting big. These betting agents provide you the opportunity of betting far more money than you may otherwise be able to. In fact, high 5 figure amounts are completely normal even for betting on small leagues such as Dutch Eredivisie.
For instance, if an online casino offers you decimal odds of 2.00 for a certain sports bet, you’d need to give the sports betting agent 1.97 for placing higher bets. It’s the difference that makes these agents their money.
Start a betting company
Well, this would be a viable only after you’ve made some gains from sports betting activity. For instance, Matthew Benham, who has been reasonably successful in sports betting field, founded his own company in the year 2004 and has several employees working in it. He’s also the owner of Matchbook betting exchange and Brentford F.C.
There’s no workaround when it comes to getting superrich through sports betting. You’ll need to put in plenty of hard work and forget the idea of getting rich overnight through accumulators and/or lotteries. However, the good news is that getting rich through sports betting is possible indeed! Provided you become good at bankroll management, know how to locate value and know where to bet.