Question by macaronicheese: Is it possible to get rich off betting on football games in England and around Europe?
It seems like a plausible idea but i’ve lost a substantial amount of money on betting. When i first discovered online betting about a year ago I thought this is it, I’m gonna be rich! But now it seems like its all designed for you to keep losing your money because thats all i’ve done! I know its possible to make some money occasionally through betting, but can you actually become rich through betting?
Best answer:
Answer by Tom V
When you bet on sports, you are betting against other bettors, not against the sportsbook. Whoever books your bet takes a percentage (the scrape) for themselves, and then splits the rest of the money up among the winners. The only way to win money is to be better at choosing winning teams than the other bettors are. And few people seem to have been consistently able to do that.
There is some promise in trying to identify games in which the bettors are betting because they are fans of the team, rather than to simply try to make money. For example, Penn State has hundreds of thousands of fans. If they are playing against a smaller (but equally skilled or better) college team, it is possible that the odds will be skewed by bettors who are primarily Penn State fans rather than serious gamblers.
But I wouldn’t hold your breath. People have been searching for systems for years, and I’ve never heard of anyone actually making a full-time living by betting on sporting events.
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