Sports betting has come to stay, although, it’s not a new business, however, it seems a new trend since the market place has become so much larger recently.
Especially, in Africa, the citizens mostly the youths are more of into sports betting as the continent is facing an economic downturn.
In Nigeria, sports betting has become so popular that almost, 70 out of the 100 comprises of the youths and artisans engages in sports betting. Every weekend, sports betting website sees huge traffic, thanks to the high level of unemployment caused by the ineffective government policies.
It may not be the same everywhere, but in Nigeria, online sports betting is the new lucrative business right now and the bookmakers are cashing out every weekend as many jumps into the sports betting business to find quick money.
Sports betting is quite lucrative if you know what you’re doing, a Punter once said, if you call it a business, then it will become to you and will elevate you financially but if you come into sports betting with the mind to become a millionaire overnight, then whatever you see, that’s what you get.
Now, the question is, can one become a millionaire through sports betting?
The answer is yes, there a lot of people that became millionaires through sports betting and they’re also thousands that have gone bankrupt for engaging in sports betting. You see, the business is 50/50 either you win or you lose, hence it’s allowed for persons above 18 years of age.
How to make money in Online Sports Betting and Preserve It
Before we dive into this part of the article, it’s important to note that whatever I’m about to State below is from a personal experience, however, it’s not a financial advice. So, take your time and do some research before reaching a conclusion.
Making money through online sports betting is same as losing money in sports betting. Why do I say that? It’s because like I said above, the business is 50/50, nothing is guaranteed in sports betting. The bookmakers who set the odds you want to place your money on are also business people that want your money just as you want theirs.
So, be wise while venturing into, it’s simply defined as a water full of sharks, or simply dog eat dog business but with my guide, you can pull through.
- NB: again, this is not a financial advice.
If you want to make money in sports betting, you first take it as a business. What I meant is, since it’s 50/50 business, you stake what you can afford to lose.
There has been a case where people stake everything they have and lose it, at end they do something drastic, so, if you’re someone that can’t stand losing your money, then stay far away from sports betting.
The simplest way to make money in sports betting is by scaling your interest, what do I mean by scaling your interest, it simply means, every odds have an interest they will yield at the end of every game, that if you win.
So, staking because of odds might be deceiving, it’s advisable to stake based on how much you are willing to lose thereby the interest of what you get at the end of the market is okay by you.
In a simple term, (Liverpool vs. Manchester United Match), if you stake for both teams to score three goals in the match, which means (over2.5) and the odd is 1.45, that means, whatever you stake, the interest is 45 percent. Let’s assume you stake is N1k, the interest is 45 hundred (N450 plus your N1k, then you N1,450).
So, you see, this should be seen as a business. So let’s assume you’re willing to let of 10k, you know your interest when it goes green. And that profit is what you should preserve.
Talking about preserving your money in sports betting, it’s advisable to withdraw your winnings whenever you won any betslip in sports betting platform.
Why is this important? You may ask, well, psychologically, humans tend to go for what is working for them, which means, if you’re not disciplined enough, you might end up losing everything if you left it on the bookmakers website.
So, it’s advisable to preserve your earnings and then, even if you’re going again, with the money sitting in your account, you can be able to re-strategize and go again.
Picking the best options
A lot of people go for best or easy options, like 1×2 (straight win or draw) but the truth is, no easy options in sports betting, I have followed punters who plays several options like, overs, corners, goals in a row, bookings, etc.
However, the truth is, there are no easy options, before bookmakers release any options on a single match, they have already evaluated the possibility, which means, it’s always 50/50, meaning, you need to be wary of your choice, which I advise people to follow their instinct.
Betting based on favorite teams
Well, I have seen this works, but personally, I don’t bet with my favorite team, especially the one I support, why? Because I can’t get over the shock if they lose and also, at the same time cut my ticket, Lol
However, in sports betting nothing is guaranteed, that your favorite team might be your worst pick of the day, so, follow your instincts and you will see yourself making cool money on sports betting.
Don’t play games when you’re not convinced that will land you a fortune, if you do, sometimes it works but several times it goes sideways, which falls back to follow your instincts when picking matches to place a bet.
Conclusion
In summary, sports betting can make or bring you down financially, it all depends how you approach it.
Stake what you can afford to lose and always follow your instincts when picking matches in an online sports betting platform. Also, always withdraw your winnings whenever you won a bet. That way, you have preserved your money.
