Making Money Through Betting
Esports gambling normally centers on the pros. You wager on a team. Making money on betting can sometimes mean knowing when to stop and walk away. If you have made a profit, then do something else that means you enjoy your earnings. Chasing a bigger win, or worse. Making money from betting is very, very, very difficult! It requires a lot of knowledge and discipline. It’s like with any other job. You don’t walk into a job and start making a huge amount of money straight. Sports betting is big business with billions being wagered each year with online bookmakers. The advance of websites like Betfair has revolutionised the betting industry allowing ordinary punters to. To make money through betting, you don’t just bet for the sake of it. You have to come up with a strategy and understand your odds. Sports betting is a double-sided sword and only the elite punters and lucky.
Whether it is possible to earn money from gambling and make a living from betting are questions which seem to bother many punters.
To give the short answer…
Yes, it is absolutely possible to make money with sports betting.
Bookmakers make money; sports analysts make a living from gambling by compiling odds for bookies; some of my own income derives from sports bettors using this website. Programmers earn a living from gambling by developing various betting applications. Manufacturers of gaming machines make money from people’s gambling habits.
I could certainly continue this list as the betting business is a big industry providing many, many people with jobs.
But this is probably not a satisfactory response for sports fans who bet themselves and pursue the dream of supplementing their income, or becoming rich from gambling one day.
However, for these hopeful punters, the answer is also clearly positive…
- Yes: it is possible to develop long-term profitable betting strategies.
- Yes: it is possible to find betting odds which hold value and provide a mathematical edge.
Nothing is Impossible!
The big question is whether you will manage to join the minority, the tiny crowd of betting enthusiasts who finally become successful.
Another question is whether you have the patience (and time) for acquiring the necessary knowledge to win more than you lose, because only knowledge is power; without knowledge there is no chance.
Reliance on luck is not a foundation for lasting success. With luck alone nobody can build a house – only a handful of lottery millionaires can claim the opposite.
Successful Sports Bettors – Examples
In September 2005, in “Expert Betting Advice” forum, a young woman named Maria Santonix started publishing horse racing lay bets. I followed her thread at the time, and I must say that it came across as very authentic. She published daily picks (except Saturdays) and in only 303 days, her initial bank of £3,000 increased to £100,603.78.
Making Money Off Betting
The thread has since been taken offline by the operators of the forum, but if you google “Maria Laying System” you will find a plethora of articles referring to her experiment. Naturally, doubt breeds skepticism and most of the responses are quite critical.
It is difficult to find really credible information about betting success on the Internet. In the majority of threads you will read statements such as “I know someone who knows someone who makes his living from betting”.
The only website I am currently aware of which has published quarterly betting results for several years is Alan Seymour’s Sports Arbitrage Review. Alan writes about his experiences as a professional arbitrage trader and has been arbing since 2002.
Famous Last Words
If you have anything substantial to contribute to this topic please leave your comment below. It will warm our hearts and be absolutely great!
As I continue to develop betting courses and tutorials, I would be very keen to learn which specific content you are interested in most.
I thank you in advance for you valuable contribution! Every thought helps to develop this website into a sparkling source of knowledge in the often far too confusing worldwide web. 😛
Many video game enthusiasts enjoy watching esports every now and then. They like seeing players with amazing skills in action.
A lot of gamers are also interested in making money off of their hobby just like the pros. Esports betting has provided this opportunity for a while. It gives you the chance to win money by betting on professional teams and individuals.
But what if you’re not overly interested in esports gambling? In this case, you can use the following three alternatives to profit from competitive gaming.
1. Player vs. Player Betting
Esports gambling normally centers on the pros. You wager on a team or individual (depending upon the game) and hope that they come through for you.
This option allows you to bet on yourself and teammates (if applicable) winning a specific match.
Of course, you won’t have thousands of screaming fans cheering you on in the background. Nor will you draw countless stream viewers to your match.
As long as you’re not looking for fandom, though, then you’ll appreciate the chance to bet on your own skills. PvP lets you make a wager, play a match, and see if you win or lose the bet.
Platforms with this type of gambling feature a matchmaking system.
Available bets can involve anything from simply winning a match to accomplishing a specific task. An example of the latter might involve which team ends a capture the flag match with the most kills.
In any case, PvP gambling lets you have a bigger hand in deciding wagers. Your skills play a large role in if you can win a bet.
2. Skin Betting
Skins have long been popular in the video gaming world and have brought on a bit of controversy. They include cosmetic items (or skins) that have no bearing on the actual gameplay. They’re just fun to collect and can be worth lots of money when they’re rare.
The type of skins vary based upon the game. Normally, you receive these items in the midst of actually playing. A game will drop certain items for you to pick up. Random drops in Counter-Strike: Global Offensive (CS:GO), for example, happen when you’re playing online through official servers.
You can trade these items with other players via Steam.
The latter refers to a video game distribution platform from Valve. Some trading sites allow you to purchase or sell skins for cash. You visit a relevant site, sync up with another user, and make the transaction.
Regardless of how you acquire skins, you may be interested in gambling them at some point. Skins betting provides another way to make money through competitive gaming.
Some skin betting sites feature casino-style games. For instance, you might play roulette with your items on the line. You bet an item(s), choose a number or section
Here’s a look at how this type of betting works:
- You deposit a skin(s) onto an esports betting site.
- The esportsbook will generate a dollar amount based on the skin’s value.
- If individual items don’t generate enough value, you can bet multiple items.
- You use the dollar amount to bet on a match.
- Assuming you win, you’ll receive the original skin(s).
- You’ll also collect an additional skin(s) relative to the team’s odds that you bet on.
The reason why skin betting has been controversial over the years is due to the participation of minors.
If this is the type of gambling you’re planning to participate in, please keep in mind the information above when it comes to skin betting.
3. Streaming Esports Content on Twitch
Twitch allows people from many industries to stream all kinds of content. However, gaming content definitely tops Twitch’s list.
You can use this platform to broadcast your gaming sessions, most notably those played online versus other players. You can also simply chat about video games and/or topics that don’t even pertain to gaming.
The great thing about Twitch is that anybody can use it. You don’t need special credentials to start a channel and begin reaching others.
You can also provide subscription content. The latter requires followers to pay a specified fee (normally $4.99) to view your exclusive streams.
Of course, you’ll have a much easier time drawing a crowd and making money as a professional gamer. Attractive women also tend to do well in this niche regardless of their gaming prowess.
But you don’t necessarily need to be a pro and/or an attractive woman to excel. Another route toward success involves slowly building a following by producing great content.
You could develop this great content by spending hours chatting about relevant gaming topics. Or you might simply act wild during gaming sessions and attract followers through your entertainment factor alone.
Outside of having celebrity status, generating serious revenue through Twitch is a long and arduous process. The hard work pays off, though, if you do gain a sizable following.
Aside from advertising revenue and subscriptions, you can also make money through donations. Some of the most popular streamers earn donations worth hundreds or even thousands of dollars during a single session.
How Does Esports Betting Compare to These Other Options?
Esports gambling doesn’t offer as much control over your destiny as the other moneymaking options covered here.
Nevertheless, esports gambling does let you use skills and knowledge to boost your winnings.
You can undertake the following efforts to improve your chances:
- Learn how to handicap matches like an expert.
- Properly manage your esports betting bankroll.
- Specialize in a few games so that you develop true mastery.
- Chase available esports bonus opportunities and boost your bankroll.
Esports wagering is very similar to traditional sports betting, where the margin between good and bad bettors is small.
For example, professional esports gamblers typically only win between 53% and 55% of their wagers (assuming -110 odds). Meanwhile, a bad bettor can usually win at least 45% to 47% of their wagers.
You’re dealing with thin margins between winning and losing in sports gambling. You must work hard to gain the small edge that helps you become profitable.
By contrast, PvP betting and skins gambling don’t give you as great of a chance to win money. PvP matches you so evenly with the competition that you may not earn much if anything. Skins betting requires obtaining extremely rare items before you’re able to make any serious cash.
Esports streaming is lucrative if you build a large Twitch following. The problem, though, is that it takes quite a while to draw this many followers.
What Option Should You Choose When Seeking Esports Profits?
I’m biased towards esports betting given that I like wagering on gaming. Therefore, I’ll always advise you to look at esports betting first.
However, your true passion may not lie in risking money on pros.
These options can all be valid ways to make money through competitive gaming. Outside of streaming, though, I don’t see big-money potential in these routes.
Make Money With Betting Tips
You might find success in player-versus-player betting, especially if you outplay your matched level of competition. As you outplay this competition, though, you’ll gradually be matched with better players.
With skins betting, you may find a rare or valuable item then sell it on the marketplace. In this case, you can make considerable cash just by playing a video game.
The more likely scenario, though, is that you’ll find lots of common skins. The items don’t make much, if anything, through third-party marketplaces.
The key advantage is that you can bet more and more money. With good bankroll management, these larger bets let you capitalize on your edge and earn significant winnings.
Conclusion
Again, I personally prefer esports betting as the best way to make money on video gaming. As you can see, though, other routes exist for cashing in on esports.
PvP gambling, content streaming, and skins betting are all viable ways to make money from esports. Each can be lucrative their own right with enough hard work involved.
Some professionals earn millions of dollars per year through prize pools and sponsorships.
Of course, the odds of actually becoming a pro are only about 1 in 10,000. Therefore, you should definitely consider any of the other options covered here if you’re not already a great player.