Online betting is a billion-dollar industry, and it’s only growing. Thanks to the explosion of mobile betting and internet-based casinos, there is now a readily available platform where you can bet on just about anything.
The most profitable sportsbooks and betting exchanges are those that take advantage of arbitrage – the buying and selling of bets between different countries to make a profit. Since the majority of betting activity occurs online, those that can gain an advantage from a global perspective do very well. And with the introduction of a fully licensed and regulated online betting market in Australia, the opportunities for international betting firms are incredibly promising.
But how can you make money betting online? And what are the best ways to do so?
The Best Ways to Make Money Betting Online
The best way to make money betting online is to become a high-volume, low-cost betting operator. The more you bet, the more you make – it’s as simple as that. The key is to get your hands on a large number of low-cost winning tickets, and there are several ways in which you can do this. You may place bets with your mobile phone, using an online betting site or a specialized app. Alternatively, you could use a legitimate online betting site, or even download a sportsbook to your computer and place you’re bets from there.
In general, the more obscure the sport, the more you can get paid to bet on it. Horse races, dog races, and greyhound races are extremely popular across Europe, North America, and Australia, and in these locations you’ll usually find the best odds and highest payouts. If you’re looking to make some serious bank, consider the US Super Bowl, which is often referred to as the greatest sporting event of the year. Every year, American businesses earn billions of dollars in revenue from sports betting alone. From the point-spread to over/under bets, and all kinds of props, the odds are always in your favor at the Super Bowl. Plus, you can follow all the action live via the webcast!
On the other hand, NFL football is very popular in Australia, and betting on the Australian Football League is also quite profitable. It’s important to note that some sports are just not profitable to bet on, at least not over the long term. For example, the outcome of NBA games is mostly determined by factors outside the control of the home team, and it is very difficult to make money betting on them. Even though the teams may play well on any particular day, the outcome of games is often determined by a combination of factors, including injuries to key players and the quality of the referees’ calls.
Become A High-Volume, Low-Cost Bettor
One way to make money betting online is to become a high-volume, low-cost bettor. The key here is to place a large number of bets on low-cost winning tickets, so that your win rates are high and your expenses are low. The more you bet, the more you make – it’s as simple as that. And the great thing about this approach is that you don’t necessarily need to be restricted to one or two sports. You can venture into the world of arbitrage betting and place bets on events and clashes between teams in different countries.
The main issue with high-volume betting is determining the value of your bets. Even though you may have a very high win rate, you’ll rarely know how much your wins are worth in real money until the end of the day. The solution is to use a betting exchange or a specialized sportsbook that provides real-time value estimates for your bets. Also, make sure you always check the daily vigorish (betting commission) and juice (payout percentage) rates, as well as the minimum and maximum allowable bets, before placing a bet of any significance.
Explore The World Of Arbitrage Betting
One of the things that attracted me to online gambling was the world of arbitrage betting. In this type of betting, you essentially bet on two or more events or odds and try to get them to come together in such a way that you can achieve a financial gain. For example, let’s say you were born in Australia and you’re a massive Rugby League fan. You may decide to bet on whether the total number of points scored by both teams in a match will be greater than or equal to the total number of points scored by the opposing team. The bet you place may be on a team named Melbourne, which is currently in the NRL (National Rugby League) finals, and you’re backing them to beat the Brisbane Broncos. If the points scored by both teams are equal, then your bet will be considered a winning one. In this scenario, you successfully arbitraged the points scored by the two teams into a winning bet.
The most basic form of arbitration betting is simply placing bets on the outcome of two or more sporting events. However, things get a little more complicated when you start to include three or more events in your mix. The key is to make sure that the matches (or odds) are highly correlative – if one event is completely controlled by one group of individuals, and the other is totally random, then it’s usually best to avoid betting on these kinds of matches. Even though it might be tempting to place a bet on which football team will score the most goals in the next match – sporting events that are completely determined by random chance are usually not worth betting on. In these situations, you’d generally be better off looking at a combination of head-to-head matches.
The Australian Betting Market
Finally, it’s important to note that Australian state and territory governments have deregulated betting legislation, meaning that you don’t necessarily need to be licensed in order to operate a betting business from within Australia. This has opened up a world of possibilities for Australian-based businesses, as well as the wider international community. In general, throughout history, Australia has always been a bit more liberal than the federal government regarding sports betting – the laws in place in other parts of Australia are usually good enough for what you need, wherever you choose to set up shop.
If you’re thinking of setting up a betting business in Australia, then it’s important to check out the Australian Gambling Board’s (AGS) licenses and regulations. These documents will give you a good overview of what you should know and consider before doing business in this country.
In conclusion, there are several ways to make money betting online. The best way is to become a high-volume, low-cost bettor and explore the world of arbitrage betting. Alternatively, you could set up shop in Australia and operate under the radar. The key is to find what works best for you and stick with it – at the end of the day, the more you know and the more varied your approach, the better your odds of profiting from online betting.