Is it really possible to make money gambling online?
Yes it is! There are multiple ways in which in you can make an income from gambling online.
How do I know this?
For the last 67 months I’ve been documenting my profit and loss using various strategies to gamble online. In that time period a total profit of £161,942 has been made.
Let’s take a look then at the various ways you can make money gambling online.
Number one is online sports betting, this is an area where if you take the correct approach there are plenty of opportunities to make a profit.
What’s the correct approach?
The easiest way to make money from sports betting is by taking advantage of bookmaker promotions and offers. This is a very simple way to make a profit.
Bookmakers are always looking to attract new customers, because of this they sometimes offer a tasty bonus when you sign up. This is usually in the form of free bets.
For example Bet365 will give you £50 in free bets once you have signed up and placed a £10 bet. By using using a strategy known as matched betting we can cover all outcomes of an event to make a small loss on the initial £10 bet. Then do the same to guarantee a profit on the £50 bet.
Next up on our list is the great game of poker.
Poker differs to most casino games in that you are playing against other players and not directly taking on the casino. Most casino games are rigged to favour the casino long term however in poker this is not the case. Poker is a game of a skill and skilled poker players can make a lot of money playing online.
Daniel Cates for example is an American poker player that has made over $11 million in profit playing online poker. According to the high stakes poker database Phil Ivey is another individual that has done very well playing online poker. Ivey’s estimated winning are thought to be over $20 million.
If you are looking for a casino game that you can actually make money from, poker is an obvious choice.
Coming up 3rd on the list is taking advantage of casino offers.
Similar to to bookmakers, casino’s are often willing to offer loss leaders as a way to entice new customers. They will also offer recurring bonuses to existing players in order to get them back in the casino gambling.
Shrewd casino players can take advantage of this. By only playing games when there is some form of bonus or cashback on offer. A casino player can flip the mathematical advantage that the casino normally has over to themself.
This is a very good way to make money gambling online and is something that many people are doing to make an extra income
If you would like to learn more about how take advantage of casino offers, we have written an in depth guide which is linked at the end of this article.
Sports Betting Arbitrage
The 4th way to make money gambling online is using sports betting arbitrage.
Sports betting arbitrage occurs when different bookmakers are offering the opportunity to cover every outcome of an event and lock in a small profit. This can be due to bookmakers having a difference of opinion or bookmakers being slow to react to new information entering the market.
Let’s take a look at an example of what an arbitrage bet looks like.
In the image above you can see we have a football game between Cimarrones and Correcaminos.
William Hill are offering over 2.5 goals at odds of 1.89 and Bet365 are offering under 2.5 goals at odds of 2.2. This is a 1.6% arbitrage bet.
By placing bets on both over 2.5 goals and under 2.5 goals a profit of £3.33 is locked in using a total amount of £200. This is the beauty of arbitrage betting, no matter the outcome of the event a profit will be made.
Lottery – Luck
Last on the list is luck!
Now obviously luck is not something that you should rely on if you are looking to make money gambling online. The first four strategies that we outlined are much more reliable and proven to be profitable with the right approach.
However we have all heard the stories of people hitting a jackpot online or winning the lottery. If you are a recreational gambler that enjoys betting but doesn’t want to treat it like a business. That’s absolutely fine but you will be relying on luck and landing a big one time win.
That being said if you utilize casino offers and advantage play. Then you may be able to play casino games with a positive expectation and still be in with a chance to land a big jackpot.
5 Ways To Make Money Gambling Online – Conclusion
In this article we have covered multiple ways to make money gambling online.
Depending on your own preferences there are several different options.Want an extremely low risk and easy way to profit then take a look at profiting from bookmaker bonuses (matched betting).
Fancy yourself as a bit of a mathematical whiz that enjoys a challenge? look at learning poker. Can handle losing runs and variance? Casino offers can offer a long term solution to making money from gambling online.
We have in-depth guides for all of the strategies discussed in this article. If you want learn more about any of them click on the links below.
Ryan is a former mixed martial arts and kickboxing competitor. After finishing university he played online poker and taught English for a living in Thailand for a few years.
Upon returning to England his focus has been on making a living from sports trading, betting and arbitrage. Over the course of 5 years he has managed to make a six figure profit using the strategies discussed on this site.
Ryan runs the sports betting and trading website www.smartsportstrader.com