How Do Sports Betting Sites Make Money
Posted : admin On 4/13/2022Arbitrage Betting. Sports betting for a living is probably a dream job for many people. The number one reason people get into sports betting is to try and make money. You might get lucky early on in your betting career but in the long term it is extremely tough to make money from the sports betting markets. From there, as money came in, oddsmakers shifted the line and odds attached to it. Oddsmaking in these days was grounded more in individual oddsmakers’ individual expertise and their gut feelings, instead of today’s statistics and data. As sports betting started to explode in popularity, however, new ways to make odds would emerge.
Sports betting companies make money by collecting a commission on losing bets, which is often called the vigorish. Vig, or vigorish, is the cut or amount charged by a sportsbook for taking a bet, also known as juice in slang terms. The sportsbook only collects the vig if the bettor loses the wager. How to make money betting online The way to make money betting without gambling is called matched betting. Matched betting is different from gambling, because you’re not playing to win. When you’re matched betting, it really doesn’t matter who wins the game.
This is one legit question that I received today.
What are the sports betting picks monitoring sites?
A lot of times these sites are named as Sports Handicapper Monitors, Documented Picks Sites, Tipsters Monitoring Services, or something similar. The idea is to track and monitor sports handicappers’ picks, so they can show their honest results for potential subscribers.
How they operate and how they make money?
These sites offer a spot for Sports Handicappers that want to monitor their picks and then they track them independently. Or at least this is how it should be.
Their records are shown on their sites and they also usually offer picks subscriptions directly on their sites.
Are these sites FREE?
No. Nothing is FREE and free business models can not sustain in the long run. Once you compete in the market, where the competition is huge, there must be some sort of return. These sites must hire developers, expert marketers, etc… and they must be paid.
These sites make money in three different ways:
- They sell subscriptions and then they share profits with sports handicappers or tipsters
- They are paid by bookmakers. Either by fixed price or sharing profits from losing bettors.
- They charge sports handicappers.
Why I don’t use any sports betting picks monitoring sites?
- First of all, I don’t sell any sports betting tips and I don’t believe in following. My whole work is focused on how to help sports bettors to become independent and successful handicappers. 98% of the content on my site is completely FREE and I share my picks every day on my youtube channel, FB group, Twitter, or in our secret discord chat group for members.
- Secondly, picks monitoring sites simply don’t track the statistics that I want to see. Most pick monitoring sites don’t even track closing line value and there were some tries, but they don’t track it correctly. I also track both CLV and xCLV (no vig vs Pinnacle odds). I use my betting tracker.
- Thirdly, I am very skeptical about monitoring sites.
Why I am very skeptical about picks monitoring sites?
All these sites are doing a service and if they want to survive, they must make money. Part of this money is made by bookmakers, which is nothing wrong, but the problem is when they start manipulating with the odds and forcing scam bookmakers that pay them more.
They charge sports handicappers, and those sports handicappers, who pay them “premium” service will be at the top of the page to get more exposure and potentially more subscriptions. So we have a problem here, because not necessarily the best sports handicappers are promoted, but those who pay them. When the money is involved and with that also survival from such sites, then they can also manipulate the results. There were some well-known incidents in the past with picks monitoring sites.
ALERT: Some Sports Handicappers monitoring sites constantly reveal your identity
For more than 4 years I constantly get emails from more betting portals and monitoring sites and here is an example from one of the biggest US Sports Betting Monitoring Site, which wants to sell me their leads (emails, phone numbers,…), their customers. These are the real sports bettors, that signed up with them, trusted them and now they are selling their identities. This can be you.
- Here is the email from 2020, where they want to sell me the emails, phone numbers from more than +2500 leads of active sports bettors.
- Here is the email from 2018 and they are constantly selling your emails to sports betting sites.
The idea of documented sports betting picks…
The idea of independent sports picks documenting site looks ok, but it will always come with the problem because nothing can be free. The free business model doesn’t work and anyone who is successful understands that the time must be compensated somehow with the money. If they want to survive, they must compete against such (above) aggressive sports betting monitoring sites.
Their monetization comes from bookmakers, subscriptions, or charging and promoting sports handicappers. I have nothing against selling picks, promoting bookmakers sites, or even promoting sports handicappers.
Who am I to judge?
But there must still be some moral value and the line what is acceptable and what is not
The question is how they promote bookmakers and which odds they promote. Do they even track bets properly and honestly? Do they tell sports bettors, that picks following is completely wrong? Do they tell them that buying picks is not the most optimal way how to win at sports betting or it is just about generating a lot of leads, so they can pay tipsters, developers, sites, designers, marketers?
A lot of open questions about these betting sites…
There is a lot of open questions. I constantly receive emails from sports picks monitoring sites, where they want to sell the information about their customers. This is very very bad for the whole betting industry. This is something I never do.
I will not even reveal this site, I am not here to hate anyone. They will know who they are if they will reach this article. I just want to inform bettors.
My Betting Philosophy and Ethical Betting
I have my own betting philosophy and my own ethical values (not good or bad, but mine). I believe in helping bettors to become winning bettors, instead of selling them picks. Anyone who understands the betting market, odds movement, closing line value, and especially the mindset of an average bettor, will agree with me, that buying sports picks is not the most optimal way how to win at sports betting.
I believe in knowledge, and I do my best to stay honest, fair, and kind (not necessarily most attractive or very nice). I didn’t get that same feeling about many picks monitoring sites, or other bigger big betting portals, that must generate enough money to survive.
Which I also understand. They don’t make money by actual betting, so they must run aggressive marketing and do what is necessary to make money.
Once you run such a site, you must generate money, no matter how.
The idea is not bad, but the realization is often bad. Selling and buying sports picks is not what I would recommend anyway, because of the betting market itself. Not to blame anyone.
Cheers,
MB
