Whether you’re working a 9-5 or have your own business where you make your own hours – extra income is always worth it. You don’t have to be Billy Walters or Jimmy the Greek to make a little extra money betting sports. In fact, it may only take a few hours a week, if you understand the basics of profitable sports betting and take advantage of bonuses. With the NFL season just a few short weeks away we recommend professional football betting as the sport to start your side hustle.
Bonuses And More Bonuses
If you’re new to online sports betting and live in the United States, there are easily thousands of bonuses available when you sign up and deposit at a new sportsbook. These come in the form of “freeplay” which require to rollover the bonus amount and your initial deposit to cash out.
For example, if you deposit $500 and earn a 50% Bonus up to $250, you would receive $250 dollars in freeplay. This might come with a 5x “rollover,” which means you need to wager 500+250 = 750 * 5 = 3750. That means you’d need to wager $3750 before you can cash out.
That seems like quite a lot, but let’s remember, these sportsbooks can’t give out money for free. Also, if doing things like line shopping and cutting down on your deposit and withdrawal fees, then you’re halfway there.
Sign up bonuses for reputable sports betting sites can easily number in the thousands of dollars. This is instant money added to your bankroll, which is crucial if you’re just starting out in sports betting. Rollovers will range from 5x to around 20x, with the larger the bonus amount, the higher the rollover.
Using Cryptocurrencies For Betting Online
The days of depositing with your debit card or credit card are a thing of the past at betting sites. For one, payouts back to your card are not possible, and that means you must receive payouts via check or bank wire. Those both take longer than cryptocurrencies and cost a lot more.
At just about every sportsbook online, deposits and withdrawals with Bitcoin and many other cryptocurrencies are completely free. Compare this to more traditional methods, and you’re losing somewhere between 10-30% of your profits due to fees and other costs.
Many sportsbooks charge a 5% or more in fees, simply to deposit with a debit or credit card. Checks usually cost a minimum of $30, and bank wires come with even more fees. With cryptocurrencies, you’re only paying a small fee to purchase the coins and to convert them back. Deposit and withdrawal limits are far higher, as well. Using cryptocurrencies is simply a no-brainer if you’re betting sports online.
Betting Line Shopping Is The Key
One of the biggest mistakes amateur sports bettors make is trying to “pick winners.” It’s truly not about picking x team to beat y team. Instead, it’s measuring the odds of that happening and the value of that in betting markets and to line shop for the best price available.
For instance, I think it’s possible that the Browns beat the Steelers when they are +5 point underdogs, but what I’m betting on is the number of points given to Cleveland. I think they may keep the game within a little more than a field goal. Not that they will beat Pittsburgh.
Consider another example from baseball. We might take the White Sox to beat the Yankees at +160. Again, even though this is a moneyline bet, we’re not predicting the White Sox to win the game. We’re simply saying there is enough value in the +160 to make the bet profitable over the long term.
It’s all about focusing on value and not trying to pick winners. And most importantly, finding the best price available and betting it. If you followed my above advice about maximizing bonuses – you should have money at multiple online sportsbooks. Always check each sportsbook for the best price before you make each wager.
If you follow the above three steps to betting sports – you will be far ahead of the betting masses and may find yourself with some extra income at the conclusion of football season.
Joseph Falchetti is the author of the blog, most picks, and the majority of content on Safest Betting Sites. Joe has an extensive background as a writer and gambler of all types. He was a professional poker player and sports bettor for eight years until he decided to make the switch to writing gambling content after the Black Friday seizures.