How do I make money betting on football?
How do I make money betting on football? Can I guarantee making money betting on football? These are questions that I’ve been asked hundreds of times over the years, the popular conception is that gambling is ‘a mug’s game’ and that it is impossible to make money gambling on anything.
Well this is true for a lot of sports, unless you have inside information on some kind of illegal activity then you’re not going to be able to gaurantee money betting on any sport are you?
Well that may have been true before the advent of betting exchanges such as Betfair or Betdaq
.
So how do you take advantage of this? Well being able to lay a draw in a game of football or soccer as our American cousins call it, effectively reduces the game into a two horse race, whereass before it was a three horse race. That is to say that in any game of soccer there can only be three outcomes.
A win for the home team, a win for the away team or a draw.
But by concentrating on the draw there can only be two outcomes, it’s either a draw or it’s not.
Let’s take a real world example on the 12th of August this year I placed a £50 bet to lay the draw between Iceland and Slovakia at odds of 3.5 (5/2), this means my liability for this bet was £125 because when you’re laying a bet; instead of entering a stake you enter how much you want to win, how much you lose is determined by the odds that are on offer at the time.
Once the match starts all I’m waiting for is a goal, that’s because the odds on a draw will rise once a goal goes in, the amount it rises by is determined by whether the pre-match favourite scores first or not.
So once a goal went in I was able to the back a draw with £40 at odds of 4.60 (7/2). This meant that if a draw happened I would owe £125 from my first pre-match lay bet, where I said a draw wouldn’t happen.
However because I backed the draw once the odds had risen I would have made £40 x 4.6 = £184 so I would have been up £144 - £125 = £19.
If it wasn’t a draw then I’d win my pre-match lay bet of £50 and my profit would have been the £50 - £40 = £10.
In other words once the first goal went in I was either going to make £19 or £10, for the record the result was a draw, but the only reason I knew that was because I checked how much the bet had made the next day, once the first goal went in my interest in the match dropped to zero, because whatever happened I was going to make money.
The only thing that can spoil this way of making money is a 0-0 draw, but thankfully the total percentage of 0-0 games is pretty low, if you keep to leagues and indeed games whereby historically there are lots of goals scored then this can be a near perfect way of guaranteeing a profit.
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