How to Make Money with Online and Sports Betting (Good or Bad?)

Due to how hard it is for people to establish alternative income aside from their main source of livelihood, a lot of people go in for alternative sources of income which aren’t fully secure. People invest in a lot of not too strong businesses and options in their search for alternative sources of income. One of this supposedly income generating businesses is online and sports betting. People who invest in online and sports betting are always worried about how to make money with online and sports betting.

Online and sports betting for the last ten years have been growing in popularity and yielding a great influence over the population. There are many people who are uncomfortable living on their main sourced of livelihood, or people whose income is not enough. They seek alternative income to support themselves, and in that attempt they get into online and sports betting.

However, one of the top questions in their mind before they begin is how good or how profitable is sports and online betting? They won’t want to get into a venture that’s not profitable, or let’s say in their search for an alternative income, they lose their money. In this post, we’ll be handling how to make money with online and sports betting, discussing if it is a good or bad way to make money.

Before we head on to the main topic of the post, there’ll be an attempt to make you familiarize yourself with what sports and online betting is and deeper clarifications about it. The questions below would help you know more:

What is Online and Sports Betting?

Online and sports betting is an act of gambling where you get to place bets (guesses) on sports game online or physically. The bets are to directed towards stating if a particular team would win another team, or in other probable outcome of the game like how many goals or points would be scored in the game? How many points a team would concede? Which player would score, and many other options.

How does Online and Sports Betting work?

Online and sports betting work, when you as the person who wants to bet on a game, gets to hear of the game, the points and money you can win from the game, and you decide to place a bet. The bet is either you win it by make the right guess and win, or you make the wrong guess and lose. It is a risky venture where all the bets you place you’re at 50-50 high risk of losing or winning it.

It is important you know that there are other types of betting online and physically aside from sports betting like betting on elections, policies, casino betting and many more.

What are the types of Sport Games can I bet on Online? 

You can bet on a wide varieties of sport games so far as there are teams and players engaging in the games. You can bet on football (soccer games), basketball, crickets, hockey, rugby, boxing, swimming, kick-boxing, and many more. Often, the games outside the popular sports have higher points and give better pay out (money) than the popular ones. For instance, in Nigeria, most sports games gamblers mainly placed bets on football (soccer) games, neglecting other games which pay out more.

How much can I use to bet Online?

There are several platforms you can register to bet online. These platforms charge different amount of money depending on their policies. The competition among these gambling and betting platform makes it cheaper with offering of different amounts you can enter with. Of course, you can always register on these platforms with no money but to place bets you need money on most of these platforms.

However, there are some platforms where you can register for free and also place bets for free as you’re given some free bets. When these free bets are exhausted, you place bets with your own money. So, the verdict is that you can place bet on most of these platforms with little amount of money as low as $2 (or 1000 naira).

How much can I win if I bet Online?

You can win any amount of money after placing bet depending on how much you bet with and the risk or point level of the bet. The amount of money you can win depends on how much you bet with, the higher the amount you put in, the higher the amount you can win. Additionally, the risk level of the bet is also considered in judging the amount of money you win, the higher the risk level, the higher the amount you can win.

Nevertheless, you’ve to note that the higher the risk-level, the higher your chances of losing your money. This is important to know in this how to make money with online and sports betting.

Where can I register Online and be given Free bets or Bonus in Nigeria?

  1. 1XBet

Tips on How to Make Money with Online and Sports Betting 

  • Get the Knowledge: You should get to know all about online and sports betting before getting into betting. This is very important. You’ve to learn how it works totally–how to put in money, how points are calculated in the sports game, the profitable way to place bets and all. Getting this knowledge is pertinent so you don’t lose money unnecessarily.
  • Start with Small Amount of Money: When you get the knowledge, then you start placing bets with small amount of money. This is the money you can afford to lose or if you register with ones who give free limited bets, you should run the limited free bets before placing small amount bets. The rationale behind placing small amount bets first is to enable you learn while betting.
  • Go for Low-Risk Level Bets Initially: You should go for low-risk bets as you venture into betting first. With low-risk level bets, you’re less likely to lose the bet and your money. The truth is that high-risk level games give more money but there’s high probability of you losing your money. So as a beginner you should be careful and bet on low-risk level until you master the art of betting on high-risk level games.

For instance, in football (soccer) betting, a placing bet on a small team like West Brom winning Manchester City would be two times higher in pay out than placing bet on Manchester City winning West Brom. As a beginner, have the patience, and even if it is a small payout, place bet on Man City winning West Brom instead of the other way round.

  • Take Sports and Online Betting like a Business: It is when you take betting as seriously as you’d take a business while employing strategies that you don’t lose money. If you take betting as a lottery, you’d continuously lose money. Therefore, get to know that you’d put in money and learn the art of betting while growing, and then become somewhat of an expert at betting.
  • Get to Know the Risk Level: Once you place bets, you must lose time to time just like an average business man loses money in businesses. However, you have to ensure you lose minimally, the reason we suggest you bet on low-risk games. This is an important fact to know on how to make money with online and sports betting. The higher numbers of win being over your number of loses makes it profitable for you.
  • Capitalize on Free Bets: We advise you register with platforms who give incentives like free bets and bigger payouts and odds than ones who don’t. With free bets, you can open in a variety of platforms and earn their free bets. Using their free bets, you can start placing low-risk bets, learning, and if you’re lucky, you don’t lose all the free bets. You add your money to the free bets and increase from there.

You should remember that it is advisable you go for platforms who offer incentives higher payouts (odds) and/or free bets.

  • Be a Sports bet Trader: You can earn a lot from sports and online betting by selling near assured bets. You can also earn by directing and guiding the people. At the end, you’d realize that you can earn from being a sports bet trader than betting itself.

Is Sports and Online Betting Good or Bad? (Our Verdict)

Depending on making money from online and sports betting is bad; it’s not something you should do, whether as a primary or alternative income. It’s very volatile and has a high-risk level. Furthermore, we stand against any means of income that’s not productive to the economy of the world, and as it stands now, sports and online betting isn’t adding to the productivity of world economy. We advise against getting into it.

However, if you’ve a spare amount of money you can afford to lose, then you should consider trying it out, and while doing so, follow our guidelines and it would work.

Conclusion

How to make money with online and sports betting, you need to know that you don’t have to be greedy, you should learn and see it as a business on its own. However, we advise against betting and gambling as a whole. Instead of venturing into online and sports betting, you should do other businesses or trades with your money. Nevertheless, if you must do it, do it with the money you can afford to lose, don’t be greedy, be patient and also try to learn

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