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Whatever anyone tries to convince you, making money through sports betting is not guaranteed income. The unpredictability of sport means that even if you make the right decision for the right reasons, you could still lose your bets. 

That being said, people do make money from sports betting and it is possible. Therefore, you should still always try to make the right decisions, because over the long run, you are more likely to win. Although individual events can have any result, over a long course of time, if you are making the right bets for the right reason, you will win money and that coupled with getting the most from bookmaker signup bonuses, will allow you to put the odds in your favour.  

Value betting 

The best technique to win money on sports betting is to only do value betting. Value betting is a technique where you are not betting on what you think the outcome will be, you are betting where you think there is a discrepancy between the odds and what is likely to happen. 

There is a method behind this technique that a lot of the tipsters on Twitter and other apps and platforms use to make and recommend their bets, and these tipsters tend to make money on the long run. This method consists of establishing two percentages: the likelihood that the bookies give to the bet and the real likelihood. 

Although the technique sounds complicated, it is quite simple. There is a formula to find out the percentage that the bookies have calculated, which is (1/odds)*100 with decimal odds. The real percentage must be determined by you and requires a decent amount of research to find, and this is the part that is more difficult. 

Of course, this is not an exact science but every time you find a bet that you think the bookies have not got the odds right for, then you should bet on it and over the long term you should win. The odds of the bet are almost irrelevant, meaning that whether the odds are 1.5 or 20.5, you should still bet on it if the bookies have got it wrong. 

While usually the bookies have the advantage when you bet, this technique gives you the advantage back. The more practice you have doing this, the better you will become and the more profit you will be able to make. 

Other tips

Other than this method, one thing that you must absolutely avoid when betting if you are trying to make long term profit is instinctive betting. Every bet you make should be well thought out and researched, and the odds themselves should be very important for the decision you are going to make. 

Consequently, do not bet on something that you think of while watching a match and do not chase a loss. Maintain a clear head when it comes to your bets and do not let frustration take over. This sounds relatively doable, but almost all punters fall into this trap. Make sure that you do not.