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[Hozyboy]

Making money when gambling can be tricky. Is gambling an effective way of making money fast or is it too risky? What are your thoughts on it.

 

[hedonologist]

Arbitrage betting is the only way you can really make money 'gambling' because you are guaranteed a profit, regardless of outcome. Taking advantage of introductory offers can also give you a small supplementary income, although there are a limited amount of these.

Arbitrage betting is quite complicated and you should make sure you have researched it thoroughly before actually trying it. You will be placing wagers of £200 or more to get a small profit of £2-£5, so you need to know what you are doing.

 

[Corzhens]

I have a cousin who went to the casino as part of their packaged tour. He played in the cards (I think it is baccarat). After several hours, he had won more than $500. That gave him the courage to plan in making gambling his livelihood because he thought he was that good. But there came another cousin who is smart alecky. The gambler was presented with a probability chart to make him understand that the casino never loses in the long run. You can win today but you may lose tomorrow... with a high probabilty. So I would say that gambling is not a good source of money.

 

[SLTE916]

I don't think gambling in general should be used as a method of making money unless you develop a system for winning. The best gamblers I've seen have highly analytical minds, and they spend their days programming software that will allow them to accurately predict the outcome of any number of situations. If you can't commit yourself to thoroughly studying a game of chance to the point that the risks tip in your favour, it's better just to keep your money.

 

[hedonologist]

I have a cousin who went to the casino as part of their packaged tour. He played in the cards (I think it is baccarat). After several hours, he had won more than $500. That gave him the courage to plan in making gambling his livelihood because he thought he was that good. But there came another cousin who is smart alecky. The gambler was presented with a probability chart to make him understand that the casino never loses in the long run. You can win today but you may lose tomorrow... with a high probabilty. So I would say that gambling is not a good source of money.

You'll never make money playing baccarat. Although by learning basic strategy you can get the house edge down very low, at which point you can break even with casino complimentary drinks and snacks.

Treat casino gambling as fun, not as a way to make money.

 

[pwarbi]

In the short term it can be a way to make money, but as part of a long term plan then not at all.

Gamblers are always trying to come up with different systems and these might work for a while, eventually they'll always start to lose. There is no system to win money gambling. That's just my opinion anyway.

 

[Vampa]

I think gambling is a risky way to make money and if you can't afford to lose the money you'll use for gambling then you shouldn't try it. As Hedonologist mentioned arbitrate is the only way you can make money from gambling but you'd need a lot of money to make a decent profit.

I've heard some say that sports betting can be profitable but since there usually are three (possible) outcomes [for soccer] the odds of winning are quite low. Unless you are psychic don't try sports betting.

 

[SirJoe]

It can be fun to play for fun, but actually going with the intention of earning money is a good way to give your nerves a run for their money. Think of it this way of the thousands and thousands of people that gamble how many success stories have you heard? Not many I bet (no pun intended... well maybe a little bit :))

 

[Petesede]

Making money when gambling can be tricky. Is gambling an effective way of making money fast or is it too risky? What are your thoughts on it.

Some people may be too young to remember this, but back in the early 1990s, the long distance carriors ( ATT, Sprint etc) were in a huge war to capture customers.. to the point that they were giving away a ton of money. As a college student, I would get $100 in free long distance to transfer to ATT, and then when that ran out, $100 to change to Sprint.. and for a year, I just took advantage of those ´introductory offers´.

The same is true right now with online gambling, especially daily sports leagues. You REALLY have to read the small print, but many, even dozens of sites will give you free money, or else will have free games just to get you as a new client. I play on a daily sports site and every day they have a free game ( hard to win ) but you can get lucky. I won $500 on a free preseason football game last year. I could not withdrawal that money, but instead had to use it to make secondary bets throughout the season. At the end of the season, I had preserved my $500 and was able to withdrawal. Many gambling sites will give you like $10, but you will have to ´playthrough´ 20 times before you can withdrawal.. in other words, you need to gamble a total of $200. But it is still free month, and most of the sites are fun.

 

[vinaya]

I have never gambled online. Most of the gambling sites have credit/debit card funding options and sadly my cards are local only. Even if they accept skrill or other payment processors, they do not accept fundin through my home country.Thus I have never participated in online gambling.

 

[madetofly]

I only gamble at poker, although I'm not sure it can be considered gambling. Now, the other types of gambling, I never bet anything, because it requires very good skills, and the people who have them profit with us, the less skilled people. So I wouldn't recommend that, but if you wanna start, start with small values, because what you need the most is experience.

 

[SirJoe]

I have never gambled online. Most of the gambling sites have credit/debit card funding options and sadly my cards are local only. Even if they accept skrill or other payment processors, they do not accept fundin through my home country.Thus I have never participated in online gambling.

This could be a problem, most online gambling sites demand a deposit from a online payment processor, the most common ones are skrill and neteller, even if you don't want to use the money and just want to withdraw money that you might have won, I don't know what their policy is in relation to visa or MasterCard withdrawals. There are many sites that you have to prove your age, that means you have to upload a copy of your ID card or drivers license.

 

[pwarbi]

I know that here in the UK, a lot of the gambling sites won't allow you to find your account with a credit card, I know that for a fact.

That way it stops people paying for a credit card, spending the limit on gambling then not paying a penny back.

 

[katie]

Has anyone tried matched betting? I've just had something appear in my inbox about making money through matched betting, which I had never heard of. My first thought was that this must be a scam, but when I looked into it it appears to be legal and actually legit.

It seems to be using the free bets that a betting shop offers to make opposing bets with an online bookmaker and then pocketing the winnings regardless of which group wins. All I can think is that there has to be a catch because it is too simple. At the same time, its on several student websites as a way of making (you guessed it) beer money.

Has anyone has tried this and can you tell me what the problem is, or if it actually works? I'm baffled.

 

[erook7878]

I'm not too familiar with matched betting, although I am familiar with sports betting websites. From what I understand, usually the bonuses require 3-4 times rollover. This means if the bonus was $100, you have to "roll it over" 3 times, which means you have to wager a total of $300. So unless there are betting websites that only require a 1x rollover, you would have to make a few more bets to satisfy the rollover requirement.

 

[doxie]

Matched betting is legitimate. I've considered doing it myself, but haven't tried it yet. You need to be very careful with not making mistakes. One little thing can mess it all up. If you're very meticulous, matched betting might be good for you.

 

[Benoit W]

Hi thеrе - mаtсhеd bеtting dоеs wоrk vеry wеll, аs lоng аs yоu undеrstаnd thе prinсiplеs bеhind it аnd plасе аll thе nесеssаry bеts соrrесtly.

Yоu саn dо it indеpеndеntly, but if yоu аrе nеw tо mаtсhеd bеtting, it саn bе vеry timе соnsuming finding thе bооkiе оffеrs tо usе аnd whilst mаtсhеd bеtting is соnsidеrеd tоtаlly risk frее, thеrе is still thе risk оf humаn еrrоr.

 

[FenWoFon]

To be honest with you I haven't really tried that before but just like I haven't I'd try it without a sweat because that would mean something new for me and that's really good because i might end up liking that kind of mode and even if I lose or win it will be an experience that noone or nothing can get back from me whatsoever.

 

[djordjem87]

I have read about this and I like the idea. It is mathematical thing rather than winning by chance. By this equation this is risk free but again it is not that simple. I was going to try but I want to find good online bookies and explore how that works in the first place. I haven't gone in details with this one. Can someone live a link or be helpful about this.

 

[ptahm22]

I've been into matched betting for sometime and it does work. But you need to make sure you understand the mathematics well or you'll end up losing money. First, you need to open an account with a betting exchange company, like betfair, which allows you to place back and lay bets. Secondly, look for a bookie that is giving free bets. You should also consider investing in a betting software that will do the hard work for you. Oddsmatcher is an example which compares odds of different sites to give you a qualifying bet. Back your team on the bookie that gives you free bets and lay your bet at the betting exchange. That's the concept, the lay bets and the free bets cancel out all the risks.