How Do Sports Betting Sites Make Money
Sports betting companies make money by collecting a commission on losing bets, which is often called the vigorish.
From there, as money came in, oddsmakers shifted the line and odds attached to it. Oddsmaking in these days was grounded more in individual oddsmakers’ individual expertise and their gut feelings, instead of today’s statistics and data. As sports betting started to explode in popularity, however, new ways to make odds would emerge. Sports betting companies make money by collecting a commission on losing bets, which is often called the vigorish. Vig, or vigorish, is the cut or amount charged by a sportsbook for taking a bet, also known as juice in slang terms. The sportsbook only collects the vig if the bettor loses the wager. Arbitrage Betting. Sports betting for a living is probably a dream job for many people. The number one reason people get into sports betting is to try and make money. You might get lucky early on in your betting career but in the long term it is extremely tough to make money from the sports betting markets.
Vig, or vigorish, is the cut or amount charged by a sportsbook for taking a bet, also known as juice in slang terms. Thesportsbook only collects the vig if the bettor loses the wager.
For example, a point spread is often listed with -110 odds. If the Eagles are -6.5 point favorites, that would be at -110 odds. If there was no vig, it would be at even odds, or +100. With the vig, a $100 bet would result in a $190 payout. If there was no vig, a $100 bet would result in a $200 payout.
If you want to win $100 at -110 odds, you'd have to bet $110 because of the vig and when the bet loses, that $10 goes straight to the sportsbook. Without the vig, you could win $100 on a $100 bet.
Of course, not all sportsbooks are the same and sometimes regular odds are listed at -115 or -120. As more states legalize sports betting, the variety in vigs across states will be a talking point. That's because a lot of in-person sportsbooks take a higher cut of bets than online sportsbooks, who receive more bets because they are more widely accessible. While each state has different rules, there are certain states where sportsbooks have a higher vig across the board, no matter where you wager.
There are also situations where -110 odds would push to -120 or higher because that bet is getting a lot of money. If a lot of people are betting the Eagles at -6.5 (public money) and the sportsbook doesn't want to move that number to -7, they'll push the odds to -120 or -130, meaning a $100 bet would result in an even smaller payout.
For as long as humans have been on the planet, we’ve always enjoyed travelling in some form or way. From moving around on foot to horseback and eventually, into motor vehicles, we have now travelled the world over and the desire to travel is now arguably stronger than ever before.
One thing for sure is that travelling isn’t cheap and if you have aspirations of island-hopping, city sightseeing or just become a general globe trotter, then the chances are that you are going to need a fair bit of cash to keep you going.
You can, of course, take on some paid work on your travels or you could try your hand at trying to make money from sports betting while you’re on the move.
Online gambling on sports is bigger than ever before these days with bookmakers across freebets.com regularly giving out odds boosts and free bets for major events such as the World Cup, Grand National and Wimbledon.
Like any form of gambling, sports betting includes a certain level of luck and relying on that as a profitable way to get you around the world will probably see you back on the plane home before you’ve got very far.
So, although we aren’t suggesting that you spend your travel pot on trying to back the winner of the Cheltenham Gold Cup, it might be worth doing your research on Match Betting, which could help to create the returns you are looking for.
Why Match Betting Is Good For Travellers?
If you’ve never heard of matched betting before or don’t really understand how it works, here are a few reasons as to why it can work so well if you are currently on your travels:
- Match betting isn’t really gambling, it’s a more math-based low-risk strategy that helps you to make legit money pretty quickly.
- Match betting isn’t time-consuming at all, you just need to be able to place your bets at the right time. Really, you can spend as little as five minutes a day on match betting, as still earn plenty in return.
- You don’t need any fancy technology to get involved. You just need a laptop or mobile and a Wi-Fi or 3G/4G to get going with matched betting.
How To Do Match Betting While Travelling?
It doesn’t matter if you’re on a packed train through India or surfing the waves in Australia, as long as you’re set up with a decent internet connection, then match betting is easy to do. The key is in your preparation for your trip because there are a few boxes you need to tick before you can successfully set off on your physical travels and match betting journey.
Plan Your Itinerary with Match Betting In Mind
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Sports betting is now legal in the majority of countries around the world, however, there are some areas in which sports betting and general gambling is completely banned. Those countries tend to have severe restrictions in place to block online sports bookmakers, and you could get in serious trouble if you try to bypass any blocks. If you are in one of those countries, unfortunately, matched betting won’t be possible while you are in that particular country.
For this reason, you have to do some serious planning before you even consider stepping on to that plane. Our suggestions is to try and stick to the following countries if you want to earn some money from betting while travelling:
- United Kingdom
- Australia
- New Zealand
- Canada
- Brazil
- Italy
- Germany
- Sweden
- Norway
- Serbia
- Croatia
- Spain
There is a selection of other countries that now also allow gambling, with the United States recently accepting some online betting in certain states around the Nation. The key is to check before you travel or speak to your travel agent, and then you will be confident in having the latest information.
Wi-Fi is Key
As we’ve already mentioned, the key to being able to do matched betting successfully is a solid Wi-Fi connection. That is basically the reason for matched betting such a new phenomenon, as, before the internet era, it was hard to find the bookmaker offers and bonuses to give you the extra advantage that you need.
As well as having a good Wi-Fi setup, you’ll also need a reliable laptop or mobile phone. It doesn’t need to be a state of the art device, just as long as you can access the internet at your fingertips, then you should be good to do exactly what you need.
Multiple Payment Methods
If you are a regular traveller, then you will probably already know that different countries around the world tend to lean towards a certain payment method. Your best way to deal with this is to have a range of payment methods at your disposal.
In the western world, Visa is the most commonly-accepted bank card and will normally get you by in most of the countries around the globe. In terms of popularity, only China UnionPay beats Visa, but that option is only available to people that are living in China. So, if that isn’t you, then a Visa is probably your best option.
If you’re not so keen on Visa, then MasterCard and Amex are the two next best options to consider. Whether you are looking to pay for food in South America or a safari in Africa, there is a good chance that you’ll find somewhere nearby that will accept those cards as a form of payment.
In terms of sports betting, these cards are also accepted by all of the best online bookmakers. However, some bookmakers may have rules that stop you from depositing or withdrawing your money from a bank card that is registered in another country.
Make Money Betting Online
If you find this to be a problem for you, then it might be worth considering an eWallet, which all bookmakers will normally allow you to use. eWallet providers include reputable firms such as Skrill or Neteller, which give you the opportunity to make deposits and withdrawals, but sometimes there is a fee involved in doing that.