Can you get rich from betting? Unfortunately, sports betting is no get-rich-quick scheme
Betting professionals such as Matthew Benham, Tony Bloom or Billy Walters are some of the world’s richest gamblers and have developed mathematical models that they have continuously refined over the years. There’s one thing they have all in common: They became rich through sports betting.
You want to be like them? Let’s get the key things you should consider to try and become rich from sports betting.
Trying to get rich from betting consists of several components. The most important cornerstone is being able to spot value. Being able to spot value means that you are able to spot odds that are too high, consistently and systematically – and capitalize on those opportunities.
In principle this is not unlike successful trading with stocks: It makes sense to buy a particular stock when it is undervalued, as this means it likely will appreciate in value later. If you are focused on sports betting, than your job each match day is to find the undervalued teams, and “buy their stock” in a manner of speaking.
Spotting value is in essence about judging probabilities more correctly than the market does. Of course it is difficult to do that for every game and every sport, but that isn’t necessary. Your big advantage over the bookmaker lies in the ability to skip matches with unfavourable odds – just like you don’t have to purchase all stocks available. The bookmaker pretty much has to offer odds for almost all games, at the very least in the most popular leagues.
Spotting value is the hardest thing to do in this business, and you will need a lot of practice to pull it off consistently. Only once you are sure to have a systematic edge you have well and truly improved your chances of getting rich through betting.