If people know something about gambling, it’s that players who partake in these activities can make millions. However, to do so, you have to be either lucky or a professional gambler — or both. Given that the gambling industry is worth billions, many have tried to generate a stable cash flow or make a quick buck by dabbling in various gambling ventures — sports betting, poker, roulette, jackpot, etc.
If you’re among those wondering how to make money gambling, this post might be able to help you out. However, note that nobody can guarantee you’ll become rich by gambling. You need to be aware that all forms of gambling carry a certain amount of risk. Moreover, you’ll need to dedicate a lot of time and effort to acquire all the essential gambling skills.
So, let’s see what some of the best and most popular ways of making money betting are.
Win a Jackpot
We’d like to start with something that doesn’t require much. You don’t have to be a professional punter or a casino game expert to win this one. The one thing you should rely on here is luck. Yes, we’re talking about classic slot machines, namely Megabucks — one of the most popular slot games in land-based casinos.
According to some studies, while the chances of winning the lottery are slim, hitting a Megabucks jackpot has better odds — 1 in 50 million. We know that doesn’t sound promising, but there’s nothing wrong with being ambitious and aiming for the top prize.
You can always set your expectations slightly lower and go for $100,000 instead of millions. We only say this because the odds of winning that sum are much more promising.
Learn How to Count Cards
Even if you’re an amateur blackjack player, you must have heard of card counting. Essentially, it’s a technique you can use to improve your odds of winning, and it implies counting face cards after each shuffle. If there are more face cards, it means you have an advantage, and you should bet more aggressively.
However, even a professional gambler might not use this trick, mainly because casinos don’t like it when a player counts cards. While it’s not illegal, brick-and-mortar casinos can ban a card counter if they catch them. Nevertheless, if you become an expert in card counting, you can beat the house edge and win some money.
Become a Professional Poker Player
If you always had a knack for card games and you enjoy playing poker every now and then, it might be time to take it to the next level and turn pro. When we think of professional gambling, we usually imagine players sitting at a poker table. Without a doubt, it’s the most widespread card game, with players winning millions in poker tournaments.
Naturally, while poker implies a small chance of luck, players need to rely on their skills to win a game. However, while we only know the names of poker players that appear in WSOP and other big poker tournaments, there are more anonymous poker players who make money betting on other people’s inexperience. The bottom line is — you need to be at the top of your game at all times, but you’ll make more money playing against a much weaker opponent.
Be a Pro at Sports Betting
Believe it or not, there is a thing called “professional betting.” If you’re a fan of sports and you’ve had your fair share of sports betting, you can turn this hobby into a long-term profit source. We all know that many recreational gamblers lose more money than they make it, and that shouldn’t come as a surprise.
However, people who want to make money betting can find some loopholes and with a lot of practice and experience become pros at knowing which side of the line has greater value. There are many ways to go about this — you can become an arbitrager, sports trader, or a value bettor.
An arbitrager is a person who spots different odds offered by various bookmakers and then bets on all outcomes of an event to lock in profit. On the other hand, sports trading is a form of betting that recently came to prominence. Essentially, it’s a betting exchange, where your only focus is on the price of the bet you placed, not the outcome — just like in stock trading.
Finally, the purest form of professional sports betting is value betting, reserved for the most experienced punters. Value betting implies having an edge against a bookie. If you believe a bet is worth more than the price a bookmaker is offering, then we’re talking about a value bet that can bring you more money and let you beat the bookmaker at its game. However, this is only effective if you specialize in niche betting markets and concentrate on one sport at a time.
As you can see, there are multiple answers to the question, “How to make money betting?” Of course, these are just some of the possibilities — if you dig deeper, you’ll probably come across a dozen more ways to make some money. Nevertheless, you should be ready to dedicate a lot of time and energy if you want to turn gambling into a source of income.