Can you make a living betting on football?

Is it possible to make a living soccer betting?

Yes
197
51%
No
191
49%
 
Total votes: 388
freewinningtip
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Postby freewinningtip » Tue Feb 17, 2015 12:59 pm

It is definitely possible but you need a very strict discipline in terms of bankroll management and what you bet on!

I do a "Banker" double each day and apart from that i only bet inplay. Its a hugely lucrative way to earn money.

I place a certain amount per bet and whilst you have up and down days if you do your research and stay disciplined i.e not chasing losses etc.. you'll be fine

I made profit last week inplay betting and an extra profit on the doubles.

Take your time to research and know what you're looking for and you'll be fine!

[Welcome to OLBG. Please note we don't allow actual mention of monetary amounts, we are much more interested in the sharing of knowledge, methods, and good discussion :win: ]
How often do the doubles lose, have you found a edge with them?

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Postby freewinningtip » Tue Feb 17, 2015 1:14 pm

Its possible with a big bankroll

Lets say you can achieve a 15% ROI, then to get your 15k to live on you will be turning over 100k throughout the year.

I asked a mate of mine who used to co-run a tipster service and he looked for the year 2006, 718 tips throughout the year so you would need to be staking around £139.28 per tip. The start of the year though starting with a large losing streak, and to the staking plan above you would have needed a bank roll of almost £3000. That was with a losing streak of 22, you really need to be prepared for a losing streak of 40 and it could come at the start. For example, after 10 bets you are at a ROI of 15% on £139.28 stakes leaving your bank at a modest £1601.72. If you then go on a losing streak of 40, although unlikely, you would be in at -£3969.48.

Its a bit like being self employed, you always have to be working and you are not guaranteed to be payed next week. You must always keep a healthy reserve to fall back on

My maths may not be 100% correct, but hopefully that kind of gives a idea :win:

nors
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Postby nors » Wed Nov 25, 2015 11:04 am

If you have reached Elite Status on football tipping on OLBG then you should be making a healthy profit from your football tipping. There is however a big step in making a living from football tipping. However those who are at Elite status or close to Elite Status could give other members insight into their approach. Or why not spend a few months seeing if you can make a few months profit from football tipping. It should be an illuminating exercise.

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Re: Make a living betting on soccer?

Postby far711 » Wed Nov 25, 2015 12:24 pm

hi. olbg is very good website.

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Postby Fredgarv » Wed Nov 25, 2015 1:04 pm

I was just reading through this and was surprised by how close the vote was 47% yes I assume those percentage of people are making a living out of this and I like most would like to hear from these individuals on their strategy on football . I have noticed that often on footy bets it's your banker that let's you down on multiples so if you are betting so called bankers you only need one loss to take you back to square one ,

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Postby mathsbet » Thu Nov 26, 2015 5:38 am

I don't make a living from football, but I do make a consistent profit. If I had the nerve for it, I might be tempted to make it my 'real' job, but to be honest, I find it nerve-shredding enough when it's just relatively small stakes, and since I head a small syndicate, the pressure of being responsible for other people's money is also fairly intense sometimes, especially on a bad weekend, or when it gets to the 90th minute of a must win game and it's 1-0.

I don't do any punting anymore, I strictly bet on outcomes thrown up by one of three statistical systems I have designed. It has taken some time to get the discipline not to also have a punt on outcomes I 'fancy'. I have learned that, over a long period of time, my punting is not profitable, whereas the systems I use have been rigorously back-tested over thousands of past outcomes.

I think the main risk from this type of betting is losing confidence. On a couple of occasions during losing streaks, I have decreased the stakes only to see the systems go on winning streaks that would have more than made up for the losses, if only I had kept to level stakes.

I don't think I would ever have the confidence to bet large stakes on non-system bets, even if I was showing a large profit on these, because it would be too dependent on my own judgement. Nonetheless, I would guess that people with stronger nerves and better judgement than me can probably make a much larger profit than I could deliver just using systems.

For anyone interested in following the progress of my third, and so far most profitable system, I am keeping a blog to record its progress here: http://www.olbg.com/forum/topic31_57969.html

It's still early days, but I expect this system to deliver a season profit in the region of +100 points. I'm not going to kill the golden goose here, but the key to this system is an algorithm which measures a teams current performance relative to that teams past performance, and in this way aims to outwit the bookies whose odds are based on an assumption that teams will perform to roughly the same level from one season to the next.

I don't mean to imply that any of this is easy. I have put hundreds of hours of work into each of these systems in terms of backtesting and identifying future bets, and the monetary reward for that work is fairly modest. It's certainly true that making a profit from mathematically based betting is 99% hard work and 1% inspiration.

nors
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Postby nors » Thu Nov 26, 2015 8:14 am

Really good sensible advice mathsbet. A Disciplined approach is always needed and as you say confidence plays a part.

tbuckley
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Postby tbuckley » Mon Nov 30, 2015 6:42 pm

I've just really enjoyed reading through all of that and no doubt I'll refer back to it from time to time given the top advice included.

You might have that a few months ago I started a series of blogs covering 'Football Tips' and the different areas that could cover, obviously many different areas to look at but the first blog I did covered potentially the best markets to concentrate on :-

http://www.olbg.com/blogs/post.php?id=410018

and I've just finished the second blog covering Strategy :-

http://www.olbg.com/blogs/post.php?id=410169

within that I talk about what Strategy means, importance of showing discipline, having control, having a fixed betting plan/bank, understanding what you are betting on and understanding the odds, recording your bets etc

So I hope people find those blogs to be interesting and useful in some way, I'll appreciate all responses and I'll also say now that my third blog for this section was going to cover about potential of making a living from football tipping/betting and so I am definitely going to consider the views posted and may well be using/quoting some of them so I hope you don't mind that, I'll make sure the blog links back to this fantastic discussion thread so more people can get involved.



:win:
Loving it on OLBG, on twitter @tbuckleythinks :

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adviceneeded
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Postby adviceneeded » Mon Nov 30, 2015 10:30 pm

Can someone provide some advice? Is the strategy of trading 0-0 0-1 1-0 and under or over 1.5 goals worth pursuing? If so please let me know as Im looking for the easiest way to earn money trading on Betfair.

Also, is anyone successful with under 6.5 goals challenge or systems like that? If so, when is the best time time cash out on that?

wikidme
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Postby wikidme » Tue Dec 08, 2015 6:28 am

I did a quick analysis of the prem 14-15 season looking at over and under 2.5 goals,

If you back all the fav's in the over/under 2.5 market at the best odds offered by all bookies youd have made 1.43 point profit, if you backed all the outsiders you would of made a loss of -43 points.

the odds predicted the winner 56.6% of the time.

Anyway I think this proves the point I made in the other post that its impossible to make money on football because the odds are exactly right with a small house edge built in.

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Postby RACHACE » Tue Dec 08, 2015 8:36 am

Why on earth would anybody even want to try and make a living on betting? I get a bit annoyed at times when I've lost say £25 so god knows how I'd feel if I relied on paying my mortgage with those bets that have lost me £25!!!

It's a great hobby but that's all it is to me and I think the majority. Even if you're good enough to make a living the stress levels involved must be sky high hoping you have a good month in order to cover the bills. Your average person earning an average salary has pretty much no hope of earning a living from betting on football. If your already financially sorted out and have a huge amount that you wouldn't miss per month then that's a different story. However the bookies would probably consider you an undesirable if you were winning each month.

If somehow I ended up with a pot of cash I'd think of better ways to make it work for me than betting on football that's for sure.
Read my blog Man City's trip to Bournemouth
https://www.olbg.com/blogs/post.php?id=412311

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Postby Remapthfc » Tue Dec 08, 2015 8:56 am

This is an old thread come back to live and and interesting read.

Like others have said football margins are so tight and with so much analysis available it has to be very very hard to turn a decent living on football let alone as right at the beginning MOB rightly said the fluctuations year on year are going to be an issue.

Not football but if you buy the racing post there is an article every Sunday by Steve Palmer a professional gambler and even reading that the highs and lows sound so hard to take.

There are also many professional gamblers say Steve Palmer or Dave Nevison that subsidie betting with journalistic work, which has to surely help and I guess that option is not open to a lot of us.

So making a living ogambling is hard making it on a tight margin sport like football must be very difficult.

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