Can You Make a Living from Online Gambling?

Introduction: Can You Make a Living from Online Gambling?

Thanks to the advances in technology, you can enjoy a flutter from anywhere there’s an internet connection Which means everywhere! Now imagine that you could both play for fun and maybe even try and make a living from online gambling. There are actually some people who manage to do this. But you’ll need to develop certain skills and have a head for numbers if you want to join this elite club. Of course part of this knowledge-base is to know what games are worth your time, as not all online gambling leads to profits. It’s all about the -term edge. Let’s have a look at some of the best games for a budding professional player.

Online Sports Betting

Betting on sports….how difficult is that in reality? The answer is “it depends”. The most common bet is what’s called the “money-line”, which is a straight-up wager on one or the other side winning a contest. For example:

– Barcelona FC +155
– Real Madrid -185

You’ll see that the odds are not even. If you wager on Barca, you’ll get $185 for every $100 you put down. Conversely, you’ll receive $155 for every $100 lace on Los Blancos. unbalanced odds are what give the sports bookmaker his profit, otherwise known as “juice”. And it’s thanks to this juice, that they will continue to make good money. Regardless of the outcome of the actual match. Though this profit margin might appear to be the same as a casino house edge, it’s actually different. That’s because the house edge is set up so that the average gambler will lose over time. In sports, you can still earn long term profits. But you’ll need your winnings to be higher than both the odds and the juice in order to make a living from online gambling.

Find countless wagering options at the 1xBET Sportsbook

Living From Online Gambling: Look at the Exact Odds

Now the rate that you’ll need to be winning is more or less dependent on the exact odds. Have a look on the web and you’ll find plenty of calculators that’ll tell you the break-even point of each set of odds. For example, if you’re having a punt on a team at -135 odds, then you’ll be needing to win 57.4% of the time to just break even. If a team has +120 odds, then you’ll need to see 45.5% of your wagers come home. But the thing about sports betting to make money is that not all your bets have to be winners. It’s more about the frequency of winning. At a 10% juice, you’ll only win at a 53% – 55% rate.

Of course,nothing is simple. The real problem you’re going to be constantly coming up against is that the bookies are not fools. They set sharp lines making it difficult to win over half the time

Handicapping is a Great Place to Start

And that’s why we recommend that handicapping is the best place to start. Essentially you’re looking at a number of variable involved in the competition, and then deciding which side offers the better value. Yes, it’s true, there are any number of variables, but in most sports they’ll fall into the following headings that include past performance, injuries, weather, statistics, and lineup changes. Yes, this is only the surface, but it’s a good place to start. You should also consider splashing out on some betting software. They offer a deeper statistical analysis which can help you spot betting opportunities with a better chance of pulling in a profit. Here are some examples of situations where a betting program can prove essential.

Software Help

Arbitrage opportunity – A difference in odds at multiple sportsbooks that helps you make a guaranteed profit by wagering on both sides.
Public betting percentage – Shows what percentage of betting slips are on each side of a wager.
Odds change – Tracks every time that major online sportsbooks shift odds for various games.
Reverse line movement – When a line suddenly changes differently than expected, thereby indicating which side the “sharp money” is on.
Steam move – When a group of bookmakers changes a line in near unison to counteract sharp money.

Being a sports bettor isn’t the life that’s pictured in the media….all sporting games, pretty girls, cigars,and punching the air every ten minutes to celebrate your wins. It’s much, much, more mundane. In order to make a living from online gambling,you’ll spend most of your time in front of the computer looking for openings from all the data you’re analyzing. Put it this way, being a fan is a lot more fun.

Esports Betting

For years the big betting companies ignored Esports. There was a kind of snobbery and betting on computer games seemed childish and, let’s face it, they aren’t really real sports are they? Well, times have changed. With the overall popularity of gaming, finally, sportsbooks can see value there for the taking. Yes, it’s true that Esports gambling isn’t anywhere near as big as traditional sports betting. But as each year passes, it gets bigger. So much so that there are those who are able to make a very comfortable living from betting on Esports. If you want to try your hand, then you’ll first need to head over to one of the big Esports markets, like Dota 2, League of Legends (LoL), Counter-Strike: Global Offensive (CS:GO), and Overwatch.

Within these games, you’ll find enough liquidity and types of bets to allow you to earn significant amounts, even enough to make a living from online gambling. Then there are secondary markets, which include games like World of Tanks, Street Fighter II, and SMITE. Though these markets are not as lucrative, you can gain valuable experience by playing them. If there was any type of gambling that’s representing the zeitgeist, it’s gonna be Esports. And now is probably a good time to get involved, as it’s only going to get bigger. This means that you’re going in on the ground floor and will have plenty of room to develop skills and know-how on your way up the structure.

Living From Online Gambling: Online Poker

Probably the golden age for online poker was in the mid-2000’s when it experienced a massive boom. It went from the local casino into prime time TV, on its way to becoming a global sensation. There are a number of players who became household names in the US thanks to their skills and good fortune. These include Di Dang, Hac Dang, Tom Dwan, Phil Galfond, Phil Ivey, and Ilari Sahamies.

But over time it’s suffered a gradual demise as laws, regulations and bots have all ensured a less than stellar experience. Many countries passed online gambling laws which had a strong negative effect on the jackpot poker competition. Now sites can’t offer the high stakes needed to keep up with huge off-line tournaments. And then we have the bots or programs which are specifically designed to play poker. And yes, they’re really good. Most of today’s bots can easily beat low or middle stakes games, making the playing a dangerous preposition for many players.

Have played on the negatives, it should be said that online poker is still a great way to make a gambler’s living. But the downside is that you’ll be needing to dedicate a lot of time and energy to getting your skills up there with the best. Learn all the strategy and how to log hands. Another hurdle to entry is that you’re going to need a large bankroll, as you’re looking at this project as a long term effort. Even if you have a losing streak, you’ll still need enough coinage to see you through. If you’re going to play seriously, then have a look through our best poker jackpot reviews.

Daily Fantasy Sports

In some ways we can compare Daily fantasy Sports (DFS) with online poker. During the mid 2010’s this industry enjoyed it’s largest period of growth, with sponsors like DraftKings and Fan Dual pushing DSF into the mainstream. At first the public went kinda nuts for this medium. But growth has since slowed thanks to regulation. But it still represents a perfectly viable means of making a decent living. Essentially it involves filling out a team roster whilst staying within a predefined salary cap. For example you could choose 10 football players but all within a budget of $100,000. So the skill here is in choosing players who will outperform their given salaries. And the better you are at choosing, then the greater your chances are of success.

DFS is very similar to an online poker tournament in that the pool structure, fees and prizes are all from the initial buy-in. For example;

– A tournament requires a $10+$1 buy-in.
– $10 goes into the prize pool.
– The site takes the extra dollar as a fee for offering the tournament.

How to Play DFS

Now your goal is to win enough to cover your buy-ins and have enough left to book a profit. Keep in mind that the prize money is heavily weighted to the top players, with around 10% – 15% being able to cash in. As with many forms of betting, you’ll be needing a fairly large bank roll to handle all the variance. If you’re an experienced poker player, then you’ll already have a good understanding of a volatile game. As a poker player, you know that you might be needing anywhere up to 75 – 100 buy-ins. And it’s the same with DFS. There are a huge number of dry patches. In summery, though DFS isn’t the easiest means to make a living from online gambling, it’s certainly worth your while playing, providing that you’ve put in the home work.

Click here to discover the world of DFS at the 1xBET Sportsbook