There are quite a few people on social networks who openly brag about making a living on sports betting. Although at the moment we should treat everything we see on the Internet with a degree of skepticism, it seems appropriate to touch on this topic at a time when betting is very fashionable. A simple answer: yes, of course, there are people whose income comes solely from the fact that they win on sports betting. But, as always happens, there are a number of factors that we all need to take into account.
What does it mean to make a living by betting on sports?
The first thing that needs to be clarified is what we consider to be earning on sports betting. According to bloggers on TikTok and Instagram, they drive around in luxury cars and throw fake bills out the window. The reality is completely different.
In my opinion, the most logical definition is that a person lives at the expense of his rates when his main source of income is this activity and with this, he can pay for his pace of life. Someone will pay 500 euros, someone will pay 1000 euros, and someone will pay 5000 euros. But we understand that earning on bets is an extremely distant goal that requires a lot of money to achieve.
Similarly, you have to be consistent with your goals. If your goal is to earn 5,000 euros per month, you cannot have a bankroll or capital of 10 euros and make combined bets of 0.10 euros. And this is usually a very frequent occurrence. Ultimately, when using this premise, what happens is that a player or a player making bets on cricket puts everything on extremely high odds, the probability of success of which is negligible. Unfortunately, I can assure you that this way you will not earn a “salary” on sports betting.
Short—term and long-term perspective are not the same thing
In online betting (and in games where randomness is involved to a greater or lesser extent), it is not so easy to make money in the long run. If one day you and your friend decide to invest a total of 1000 shares, it will not make you a winner. Yes, technically, you are in profit, but from now on, when you can find yourself in a long-term gain, everything changes a lot.
In the short term, everyone can earn money on online betting 1xBet.
So when you ask someone if they are a winner in sports betting, your first question should not be about how much they are winning but about how long they have been a winner. In order for someone to be considered profitable, they must prove (and have experience) making a profit by making several thousand bets behind their shoulders. With a smaller value, the sample of bets is so small that it can always be written off as random.
Black streaks that you are never told about
People like to brag about their victories, but they also usually know how to hide their misfortunes. But black streaks are a part of sports betting and any discipline where there is some kind of randomness. Without going into details, the best poker player in the world, for example, can lose for several months, despite the fact that he plays very well and has demonstrated his profitability for years.
Black streaks always come. The way they handle it usually distinguishes the winning player from the loser in the long run, of course, apart from skills. But if someone wants to make a living by betting, it should be very clear to him that there will be moments when he will be able to win a lot, but there will also be stages when there will be more losses than winnings.
What do you need to do to make a living betting on sports?
Theoretically, the formula is quite simple. The problem is that no one usually devotes enough time and perseverance to this. This topic can be continued for a long time, but its generalization can be reduced to three factors: capital, experience, and skill.
This triangle is the key one, and each of its three vertices is equally important. If you don’t have the money or decent capital to make a profit that will allow you to make a living with betting, it doesn’t matter what skills or experience you have. Similarly, if you have capital but no experience or skills, you won’t get far either. Of course, if the only thing you lack is money, but you constantly demonstrate that your skills and experience bring you profit, you will almost certainly be able to monetize your career in sports betting. Whether it’s external financing, working as an informant or a sports forecaster.
Making a living with sports betting is not an easy task, that’s for sure, but if you do it responsibly, it can become a goal for many in the medium and long term.