Can you profit from sports betting in the long run? Nigerian bookies like Betway, Bet9ja and Nairabet sure think so – and for good reason. The theory is that people will always want to gamble, but it’s the sports leagues that rake in the big bucks. Regardless, you can still take advantage of their hard work by betting on your favorite teams and making a profit. Heck, some people even make a living off gambling! This article will show you how to bet on sports for money and potentially make some passive income of your own. Given the right circumstances, people will bet on anything and everything. From sporting events to elections, we’ve seen people put their hard-earned money down in hope of a large return. The sports betting industry is no different, and in fact it’s one of the largest industries on the planet. In 2020 the global sports betting market was estimated to be worth $4 billion. Each year, more people are joining in on this luxury pastime: 59% of adults in America have placed a legal bet on at least one sporting event.
Getting Started
The beauty of sports betting is that you don’t need a huge bankroll to get started. Whether you’re betting on the Super Bowl or the next college basketball tournament, the bet sizes are always relatively small. That means it’s easy to get started with just a couple hundred nairas. On top of this, your chances of winning are pretty decent. For those who enjoy sports and gambling but don’t have thousands of dollars to spend, betting on sports can be an easy way to get your feet wet. Sports betting is also not as complicated as it may seem on the surface. In fact, you can have a lot of fun by placing a few bets over the course of a season. Just remember that every time you place a bet, there’s a chance you’re going to lose your entire wager.
If you’re a beginner who wants to get started, you’ll want to know how much money you’ll need. Keep in mind that sports betting is much different from traditional gambling. Unlike the lottery, which has two or three winners every week, betting on sporting events typically has thousands of winners. That means your chances are greater than average compared to other forms of gambling.
Finding a bookmarker
A beginner’s first step is to find a sportsbook that’s reputable, trustworthy, and reliable. That’s not to say you should get discouraged if your first choice isn’t available in your country.
Finding a bookmarker is one of the hardest parts because there are so many to choose from. You can go with a major brand like Ladbrokes or William Hill, or you can choose one of the smaller but just-as-secure sports betting websites like 1xBet, 22bet and Wazobet. Some of these smaller sites offer more perks as well, including cashback bonuses and other ongoing promotions.
The Basics of sports betting
Sports betting isn’t rocket science. In fact, most people who bet on sports already know the basics – they just haven’t taken the next step by placing their money on a team. To place a bet, start by choosing your favorite team or player. If you’re not sure about your pick, try to choose one with an established record over time. Don’t go for the flashy new rookie whose stats have been artificially inflated – instead choose a tried-and-tested veteran with a proven track record of winning. Once you’ve identified your favorite team or athlete, you’ll need to find out which sportsbook is offering the best odds. This will tell you how much you stand to profit or loss on a particular match-up. Many people want to make more money in their sports betting, whether through steady returns or a growing bankroll. That’s why they’ll look for the bookmakers with the best odds and pay larger spreads (the difference in winnings from a bet) than what you’re used to. After your first sports bet, your next step is figuring out what type of bet is going to be most profitable for your bankroll.
Bankroll management is something that most people don’t think about until it’s too late. They’ll get so caught up in the excitement that they’ll risk their entire bankroll over a single bet. The result is usually devastating, especially for newcomers who may have to wait months to build back up to a comfortable level. If you’re going to be investing your time and money into sports betting, it’s important to adopt a bankroll management strategy from day one.
It’s not uncommon for someone to use their entire monthly income on sports betting – and then lose everything. When this happens, you’ll have just two options: beg your friends and family for money or figure out another way to make money fast.
Managing wins and losses
One of the best ways to make money in sports betting is to keep track of your losses. The longer you can manage your losses, the more you’ll be able to set aside for your next bet. You don’t need much to get started – a small envelope or notebook will do just fine. This is especially important if you plan on placing larger bets over time. For example, let’s say you choose a team that loses more than it wins over the course of a season. If you save every time this team loses, it could add up to thousands of nairas in just a few months.
Following tipsters
Another way to make more money is following tipsters on the internet. These are experts that can give you valuable insight on big games and how to place your bets. You could even consider hiring a tipster to do all the work for you, and in turn receive a share of the winnings. Vetting free soccer predictions is an excellent strategy for those who are looking for quick profits and don’t want to spend all their time trying to find out which team will come out on top.
The best way to know if a tipster is telling the truth is to check their past records. To do this, look at their long-term win rate over time and see if they’ve made any big predictions in the past that proved successful.
