People find ingenious ways of making money without holding down a job and when they are trying to come up with solutions, betting and gambling often come up on top of the list. So, is it possible to make money consistently with sports betting or gambling? Well, this depends on a lot of factors and in this article, we are trying to give you some answers with the help of Amy Martinsson, a Swedish iGaming expert. Amy has plenty of experience in the world of casino games and you can read more about her by clicking here.
Odds and payouts
Gambling is just like real life – you need to take risks to win anything and the more you risk the more you can win. In any type of casino game or sports betting, odds relate to payouts. For example, if in roulette you bet on red your payout will be 1:1, however, if you place a straight-up bet (betting on one number) your payout is 35:1. In football, similarly, you can place a bet on the favourite with odds of, let’s say, 1.30 while betting on the underdog would pay 9.50. So, you will have to factor in your risk tolerance and bankroll to make a decision.
You are very likely to win if you bet on the favourite but your payout will not be very significant. Or you can wager little money on the straight-up number or betting on the underdog and possibly win big – or most likely lose it all.
In light of all the above, you can select a casino utan spelpaus that accept Swedish players and offers casino games and sports betting.
Long term profitability
Gambling should be just for fun where players risk only the money they can afford to lose. However, some people took up gambling professionally and are making a living. There are professional sports bettors, poker players and blackjack players, but there are no professional slot or bingo players and we will explain why.
Games of chance
Games of chance are slot games, baccarat, craps, roulette and game show type of games. As the name suggests, games of chance are all about luck. Your skills don’t matter at all when you play online games of chance and in the long run, you will not be winning with these. In these games, there is a carefully calculated house edge – which is basically the profit of the casino – and this makes sure that the house always wins. That said, of course, some people do win with these games.
If the house edge is 4% and the return to player is 96% it means that every SEK100 that is played on the machine returns SEK96 to some lucky players. In other words, if you play millions of spins you will lose SEK4 for every SEK100 that you wager. You can of course be lucky and win a huge some with a small wager but it is like playing the lottery – your chances are extremely slim.
Games of skill and chance
This is the category where poker and blackjack falls. If you are playing perfect strategy you can turn the house edge into your favour in video poker and blackjack. When playing poker against other people it is also possible to make money consistently if your opponents are weaker players than yourself. These games require a lot of discipline, people skills, bankroll management and flawless logic.
Poker is very popular in Sweden and many people play it professionally for money. The most famous Swedish poker player is Martin Jacobson who is the only Swede so far who has won the World Series of Poker Main Event. Martin won $10 million but there are other players who won millions over the years, among them Viktor Blom and Niklas Åstedt.
Sports betting is very different from gambling in many ways. While gambling can be done online 24/7, there are only so many sports events you can bet on, and then you will have to wait for the match, fight or race to happen. Betting in sports can be done professionally if you know your way around the particular sport you bet on. Studying past statistics and future trends and keeping up with sports news of injuries, penalties and factoring in the weather are all parts of your homework if you are a sports bettor.
Many companies offer their help in giving you tips or recommending places to bet, for a fee of course. You can follow professional tipsters or sign up to websites that check the different odds of the same event and can even use profit calculators. However, there is always some element of luck in sports betting so no tip or tool is bulletproof.
Matched betting is a perfectly legal and 100% sure way of making a profit with sports betting taking advantage of free bets offered for signing up at a new casino. It means placing a back bet on one site, and the same value place bet on a betting exchange so you cancel your loss out. Then you qualify for your free bet that you place the same way and on either site you will make a small profit. With this method, you can win SEK100 here and there but the time you put into this might not be worth your while.
It is possible to make money on games of blackjack and poker or on sports betting but you will need good skills for all these options and there is still an element of luck involved in all sorts of gambling. Matched betting is a secure way of making little profits but holding down a job in Sweden will definitely bring you in more cash.