Can You Make Money Sports Betting

• Can You Make Money Sports Betting Apps
• Can You Make Money Sports Betting Reddit
• Can You Make Money Gambling
• Sports Betting Winning Systems

Nov 04, 2019 The casino Sportsbooks make their money on sports bets by collecting a commission on losing bets. This is called the Vigorish or Vig for short. The most common odds are 11 to 10. This means that if you want to win $100 you are risking $110. You can certainly make a decent second income from betting by following a portfolio of top tipsters or doing matched betting and value betting. How much you can make depends on how much you have to start with, but even with as little as £1,000 you can turn that into a decent revenue stream of a few hundreds pounds a month through smart betting.

Sports betting across the globe has seen an explosion of interest and a boom in active members wagering on sports from all corners of this great planet of ours. It is both challenging and hugely thrilling. With the advent of online betting it is now totally mobile. Sports betting pits the lounge room sports fan against the professional bookmakers and unlike real sports, the pros do not have it all their own way.

Can you make money betting on sports? Yes, it can be lucrative. It is not easy and the amount you can potentially make is dependent on your bankroll, risk appetite, strategy, discipline and ultimately success rate. The income can be inconsistent. Unlike many other side hustles, you can also lose money betting on sports. Read on to learn more.

Let me be clear from the outset, sports betting is no simple get rich quick scheme.

Many a confident rookie bettor has blown their hard earned cash in a weekend, by blindly betting on sports, without much forethought, no bankroll management and with virtually no strategy. The lure of quick cash has taught them a painful and possibly expensive lesson.

This does not mean making money betting on sports is impossible or only available to a select few pro gamblers who live and breath sport 24/7. There are ways and means to make useful income without a huge time commitment or even initial outlay. Better still, you don’t have to give up your day job. It is a ready made side hustle that is loaded up on entertainment factor.

How Much Money Can You Make Sports Betting?

In many ways the sky is the limit when it comes to the earning capacity of successful sports bettors. Sports bettors range from the ultra recreational, who may only bet a couple of times per month, through to the full time professional, who turns over enormous sums of money year on year. This is what makes sports betting such an enticing side hustle. You start off small looking to make a few bucks and there is no saying where you may end up!

The real question should not be, “how much one can you make?” but more like “how much money are you aiming to make?”

A side hustle is about making some useful supplementary income that can be directed towards improving your lifestyle. The sports betting industry is really about entertainment, but that changes a little when you approach it with the view of having to consistently make money. All of a sudden bets need to be calculated, considered and therefore less impulsive.

All things considered, it is possible to make something like, say $50 per week, betting on sports without having to negotiate too much of a learning curve. Yes you did read correctly, you can make money betting, the house does not always have to win. Unlike many forms of casino style gambling, sports betting incorporates a mix of skill and luck. The more you hone your skills, the less you rely on blind luck (it does help though). Of course, with anything new, there will always be challenges along the way, bad beats, bad luck and some bad decisions can lead to some lean weeks. Hang in there, this thing has potential.

If you see your side hustle as a way of lifting yourself up to a next level kind of existence, then sports betting can deliver this as well. Just know, getting to that point takes time, dedication, a sizable starting bankroll, better than average math, a dose of experience and a fair share of bumps and bruises along the way. There is a high attrition rate among potential big time sports bettors. It’s not for the faint of heart but that doesn’t mean it shouldn’t be an aspiration.

How Much Money Do I Need to Start Sports Betting?

There is no real minimum amount of money needed to start sports betting. Bets can be placed for as little as one dollar. The issue is, making money off betting is all about percentage yield. That is, what percentage of your starting stack of money can you return in profit. No bettor can expect to win every bet, or even most of them. Sports betting is really about grinding out a consistent margin.

It may seem logical that to break even, a sports bettor would need to win 50% of the time. Unfortunately due to the bookmakers juice the break even threshold is actually more like 52.5%. A 55% win rate (11 out of every 20 bets) on bets paying -110, using the same bet size, produces a surprisingly good return. If you maintain that sort of strike rate over time then you will return a tidy profit of somewhere in the vicinity of 15% on of your betting turnover.

There are a few factors that will cause variance to this yield. Things like the size of the bookmakers edge or juice, the habits of the bettor, eg betting a bigger stake on games where they are more confident, or a lack of discipline, but as a general rule 15% is about it. We call this a 15% ROI (return on investment).

Let’s imagine now that you can maintain a 55% win rate and are yielding 15%, then an original bankroll of $3000 may be able to be turned over to the tune of $5000 in a season. Your actual investment then is $5000 and your return of 15% equates to $1500 dollars. Incredible going considering your outlay was $3000.

Bear in mind an overall win rate of 55% is an average. Some weeks and months you will perform better and other you will perform worse. That is why the side hustle income from sports betting can be inconsistent.

Finding the Right Sportsbook

One of the most important decisions you will make as a side hustling sports bettor is choosing which sportsbook will receive the majority of your action. A good sportsbook will offer you plenty of incentive to stick around. Your betting business is big business for sportsbooks and this offers you a chance to cash in.

Your sportsbook should be offering you an enticing first deposit bonus and ongoing cash back or bonus bet promotions. On top of that you should be able to join a generous loyalty rewards program and have access to all your betting stats in an easy to download format. Access to great promotions could add some value to your betting and may be the difference between profitability and a bankroll beat down.

Unlike many other industries, your sports betting business does not have to be exclusive to one sportsbook. This plays into your side hustling hands in a huge way. As the bankroll grows take advantage of the bonuses and promotions that are on offer across all sportsbooks. This just serves to multiply the ‘free’ value you can extract from the industry.

Develop a Strategy

Like all side hustles that actually work, you must approach sports betting with intent. An intent to make money and intent to continue to improve. This calls for a strategy, or series of strategies, that give you a framework around which to base your betting decisions. The beauty of sports betting is there is no one way that works. Success can be found in all sorts of ways. The most important thing is to find a strategy that works for YOU.

Do You Have to Pay Tax on Winnings?

Sports betting spans the globe and therefore the tax implications for winnings are varied. In the US if you are deemed a recreational sports bettor, which by nature side hustling is, then the amount of tax you pay depends on each state’s individual gambling tax laws.

Let’s use New Jersey as an example. In this state you will pay tax on the total of your winnings less your loses. Losses are treated as a deduction against winnings, sadly not against general income. In the United States online sportsbooks will require you to submit your social security number at sign up. This means you betting activity is being tracked and you are required to report on it at tax time.

Betting in cash is much harder to track and the responsibility is on you as the bettor to report any winnings.

The problem with betting in cash is the time cost of having to physically go to a retail sportsbook. For many bettors there is little attraction in travelling out of your way to place a series of bets and then going back againto collect winnings. The sports betting industry has matured beyond that old school approach.

What is Your Winnings Goal?

A way to maintain focus and discipline when betting is to keep the bigger picture in mind. You may have already decided on what that bigger picture is and hence you are on the lookout for a useful side hustle. Maybe at this point you are just on the lookout for extra money to open up your lifestyle options. Regardless of your own personal reasoning for taking up sports betting, having an endpoint, or at the very least a checkpoint that focuses you is all important.

A bigger picture goal may prevent you from thrill betting, where you just throw money on an outcome for the heck of it without consideration, or it may stop you from betting too big a percentage of your bankroll and risking a major blow to your account.

The road to sports betting profitability is a grind and winning just more than 50% of the time means you can cut a nice profit but you don’t have the luxury of wasting cash by betting recklessly. Keep the end financial goal in mind and you will find it easier to keep the impulsivity in check also.

Where to Invest Profits?

The thrill of betting on sport is its unpredictability and high risk nature. To some people this alone is reward enough. If you are treating sports betting as a side hustle then the thrill side needs to take a back seat to the methodical side. One of the best moves you can make as a sports bettor is to move excess winnings out of your sports betting account into less riskier investments.

All investing carries with it an inherent risk but not all investments have you essentially put your enter ‘buy in’ at risk. Any losing bet you make sees your entire stake taken away. Less riskier investments may return less yield over time but are also defensive in that losses may only equal a portion of your stake instead of the entire stake.

Sports betting really should be seen as a capital raising exercise. Once the capital is raised then this opens the door to passive, income earning, safer and to be honest boring investments. That being said there is nothing boring about receiving a passive income on going forever.

Examples of less riskier investments may be:

• Stocks — offer high liquidity and a myriad of choice
• Real Estate – safe, long term, lowish but consistent yield. Low liquidity is a negative.
• Cash – Money left in term deposits earning interest.
• Commodities – like gold, silver, oil, gas and yes even corn.
• Paying off other personal debt
• Artworks or collectables

Truly the world is your oyster when it comes to finding passive investment options for your betting winnings. The above list is by no means exhaustive or in anyway advice. Its purpose it to get you thinking about how your winnings could go to work for you.

The Game Starts Now!

Sports betting is a high risk venture that has chewed up and spat out many a confident bettor. That doesn’t mean it can’t be a useful side hustle, providing an income stream that can be used to leverage into bigger and better things. It is also a hell of a lot of fun. Get into it, a whole world a sports betting opportunity awaits.

Choosing where to bet on sports online in the USA is tough. Not all online sportsbooks can be trusted, which is a problem when you’re betting for real money. There are some safe options, though, and we’ve identified the best of them.

Based on extensive research by our team of sports gambling experts, these are the best US betting sites in 2021.

Our list of the top sports betting sites for the USA is relatively short. That’s because we’re serious about only showing the very best options to our readers. We compare hundreds of real money betting sites every year, and only a few meet the extremely high standards that we set.

As an absolute minimum, online betting sites must meet the following criteria to be listed here.

• Properly licensed to offer regulated and legal online sports betting
• Demonstrably safe for US bettors
• Owned and managed by trusted and reputable operators

Of course, the best betting sites go way beyond meeting just the minimum requirements. They offer fast payouts when you win, the best odds for your real money wagers, and excellent bonuses. And much more, too.

Can you simply trust our rankings and join one of our recommended betting websites right now? Absolutely. We’ve been reviewing real money gambling sites and ranking them in different categories for many years, and we have a solid reputation for providing honest and accurate information.

With that said, we’re still going to back our claims and explain what we look for when ranking the top US betting sites. On this page you will discover why the sportsbooks and bookmakers we recommend are genuinely the best sites for betting on sports online.

Best Sports Betting Sites Ranked for 2021

Before we get into the detail of how compile and maintain our rankings of the best betting sites, let’s start with some information on the sites we currently recommend. First, here are a few of the things we like most about each of the top sports betting sites.

• Bovada: Excellent reputation, juicy promotions, huge variety of sports and leagues
• MyBookie: Very user friendly and some of the quickest payouts around
• BetOnline: High betting limits, excellent welcome bonus, fast payouts
• BetNow: Lots of markets and consistently high odds
• SportsBetting.ag: Plenty of payment options, speedy withdrawals, great bonuses

That’s just a very small taste of what these top sports gambling websites have to offer American bettors. We provide thorough reviews of all the sites we recommend (and some that we don’t), so that you can find out everything you need to know before deciding where to join.

Here’s some further information about each of our top-rated US sports betting sites.

• Welcome Bonus: $250
• Established: 2011
• Min. deposit: $10
• Average Payout Time: 4-7 days

Bovada is one of the oldest and most trusted US betting sites. The company has been online since 1998 and has built quite the reputation as one of the safest betting sites for the USA. They offer poker and casino games as well as sports betting.

If you open Bovada’s website, you will see that all popular competitions like the NFL, NBA, MLB, NHL, and more are available, as well as a bunch of other sports and tournaments of a lower profile.

The betting odds here are among the highest on the internet, and the limits should satisfy everyone. This is definitely one of the best sports betting sites for high rollers, but low stakes bettors are also welcome.

Another perk of joining Bovada is the large number of special betting offers. Each new player can start with a welcome bonus of up to $250 and keep earning with other regular promotions from the bookmaker.

• Welcome Bonus: $1,000
• Established: 2014
• Min. deposit: $25
• Average Payout Time: 1-2 days

Ever since entering the market in 2014, MyBookie has been among the best sports betting sites for the United States. The bookmaker offers all kinds of sports and competitions. The list of betting markets for each one is also impressive, so the customers have plenty of options for trying to win money.

MyBookie is one of the best sports gambling websites in terms of interface and navigation, both on desktop and on mobile devices like iOS, Android, and Windows Phone.

The other advantages are the many payment options, the juicy promotions for both new and existing customers, and the fast payouts. Simply put, MyBookie is one of the best online sports betting sites that accepts customers from the USA.

• Welcome Bonus: $1,000
• Established: 2004
• Min. deposit: $10
• Average Payout Time: 3-10 days

If you have been betting on sports on the internet for any length of time, you’ve probably heard about BetOnline. This is one of the best online betting sites in the US for numerous reasons.

First of all, the sportsbook offers one of the top welcome bonuses available to sports bettors in the United States. You can get up to $1,000 on your first deposit. When you’re done with the initial bonus, there are plenty of other BetOnline promotions that will help you earn more.

The extra money you get can be used to bet on plenty of sports, and the betting odds are among the highest you can find on the web.

You can fund your BetOnline account using a lot of different options, including credit and debit cards, e-wallets, and even crypto. The payouts are fast and secure, which makes the sportsbook one of the most trusted sports gambling websites for the USA.

• Welcome Bonus: $500
• Established: 2016
• Min. deposit: $20
• Average Payout Time: 1-10 days

One of the top sports betting sites for the US right now is BetNow. This online sportsbook is licensed in Curacao, so you know it’s legit.

As you’d expect from any of the best sports betting sites, BetNow offers an intuitive user interface that will help you easily browse through the large number of sports and events covered.

If you want to take a look for yourself, BetNow has one of the top betting bonuses for US players and plenty of other promotions that offer a lot of extra value.

Furthermore, the bookmaker has excellent customer support service and a great betting app. The whole experience is smooth on all platforms, and this is easily one of the best online sportsbooks in terms of usability.

• Welcome Bonus: $1,000
• Established: 2003
• Min. deposit: $20
• Average Payout Time: 3-10 days

A genuine veteran in online sports gambling is SportsBetting.ag. It was launched in 2003 and has been working with US players ever since. SportsBetting.ag’s license is from Panama, which is one of the safest options when it comes to USA betting sites.

The sportsbook has a huge welcome bonus of up to $1,000 that can be used on the many sports and events that are available for wagering on. We’d put this book among the very best sports gambling sites when it comes to betting offers.

You can enjoy sports betting online not only on desktop but on mobile devices, too. SportsBetting.ag offers a wide variety of payment options to each customer from the USA, including Bitcoin and other cryptocurrencies. The deposits are instant, and the withdrawals are pretty fast.

Our rankings of the top sports betting sites for the USA are based on a long list of factors that will impact your overall online sports gambling experience. We consider every aspect that truly matters when betting on sports online for real money.

Some of the factors are important for all types of online gambling sites. Others apply specifically to sports betting websites.

We break down some of these factors below, and explain why each one is important and needs to be considered.

When you are gambling online for real money, there are certain minimum requirements you should expect from the sites you’re using. These requirements form the foundation of our ranking process for all sites, whether for betting on sports or anything else.

Let’s take a look at them.

Licensed and Regulated

All gambling sites should have an appropriate license from a recognized authority. This shows that they are legitimately able to offer real money online gambling services. Licensed gambling sites also have to meet regulatory requirements and act ethically and fairly.

Solid Reputation

The leading online gambling sites have typically been around for many years. We don’t automatically exclude new sites from our rankings, but we do prefer those that have been in business for a while. This way we can assess their past performance and determine whether they have a solid enough reputation to deserve our recommendation.

Easy to Deposit and Withdraw

Deposit and withdrawing are fundamental aspects of betting online for real money, whether that’s on sports, casino games, or anything else. All gambling sites should make the process for depositing funds and cashing out winnings as easy as possible.

Fast Payouts

Cashing out your winnings shouldn’t just be easy, it should also be quick. No-one wants to wait around forever for their money, and no-one should have to. The top operators always do their best to ensure fast payouts.

Helpful Customer Support

Good customer support should be a staple for any company, and it’s especially important online. You need to be able to get in touch with someone if something isn’t working properly, or if you have a query. We put the customer support at gambling sites to the test during our ranking process, and we expect to see efficient and professional assistance.

Now let’s look at the attributes that matter the most when we’re ranking the best sports betting sites. Note that these are all in addition to what we’ve already mentioned.

Range of Sports Betting Options

One of the benefits of online sports betting is that it opens up a ton more opportunities for making money. Your average land-based sportsbooks and bookmakers cover all the major sports, yes, and maybe a few of the less popular ones. The variety is usually somewhat limited, though. That’s not the case when betting on the internet. Or at least not when using the best online betting sites. The leading sports betting websites cover pretty much every sport you can imagine, and many more besides. You’ll never be short of something to wager on, that’s for sure.

Competitive Odds and Lines

A key aspect of betting on sports is trying to find the best value. That’s a skill that takes some practice, and no small amount of knowledge, but it’s made a whole lot easier when you have access to competitive odds and lines. The best betting sites for the USA, and anywhere for else for that matter, keep their margins low and their odds high. That is just the way we like it.

User-Friendly Betting Interface

Regardless of whether you bet on sports to make money, or just to have some fun, you’re going to want to place your wagers as easily as possible. You need to be able to see your options, and get your money down, with the minimum of fuss. This is no problem when there’s a user-friendly platform, but some betting sites are stuck in the 20^th century when it comes to website design. That’s not the case with the top online betting sites, though.

Live Betting Platform

Betting in-play has become incredibly popular in recent years, and is another big advantage of online sports gambling. It opens up a whole new range of real money wagering opportunities, which can be very profitable if you know what you’re doing. Even the best US sports betting sites were a little slow on the uptake when it comes to this form of betting, but most of them have caught up now. Live betting is something we now expect to see from US friendly sports betting sites, and we’re disappointed if we don’t.

Betting Limits for All Budgets

Some people like to bet big, some prefer to bet small. Most bettors in the USA fall somewhere in between. We think it’s important that you’re able to bet at whatever level you’re comfortable with, and we expect the top betting sites to facilitate that. When we’re ranking sports betting sites for the US, we look at the minimum stakes and the maximum stakes allowed. Those that cater for all budgets are looked upon favorably.

Additional Features

The leading online sports gambling sites are all trying to constantly improve what they offer their customers. One way they do this is by offering useful features that can help improve the overall experience of sports betting online. Some of the features we like to see at the top online sportsbooks include early cashouts, bet builders, and live streaming.

Compiling our rankings of the top online sports betting sites is a lengthy and ongoing process. Several members of our team are involved, as they each bring their own areas of expertise and experience.

Two team members who know a great deal about what makes the best sports betting websites are Jerry Summer and Noah Davis. These guys are serious bettors, and their knowledge is especially useful when it comes to ranking the best betting sites in the US.

The legal status of sports betting in the USA, especially online, has been something of a grey area for many years. United States laws that regulate gambling for real money, including betting on sports, have changed multiple times and often been left open to different interpretations.

We will bring some clarity to this somewhat complicated matter by explaining the current status of legal sports betting in the US, both offline and online.

There are a couple of key points in the history of sports betting in the US, but the first one that you need to know about is the Professional and Amateur Sports Protection Act (PASPA) from 1992. The main goal behind it was to keep the integrity in sports competitions in America.

According to PASPA, sports betting was regulated on a federal level, and the individual states didn’t have the right to operate sports betting. Nor were they able to license or authorize third-party companies to offer sports gambling services.

The major exception to this rule was the state of Nevada which was authorized to have land-based sportsbooks offering a full range of betting services. A couple of other states also retained the right to offer some limited forms of betting for real money.

The good news is that the US Supreme Court revoked PASPA in 2018, returning the power to regulate sports betting to the individual states. We have since seen several states open the door to legal and regulated sports betting within the country, with more expected to follow.

For years, online sports betting had an unclear status. PASPA didn’t prohibit US citizens from placing real money wagers on sports, it only prevented US-based operators from accepting them.

There was also the Wire Act, a federal piece of legislation originally designed to prevent the acceptance of sports bets over the telephone (or via telegram, which was still a thing back when the act was introduced).

But since the arrival of the internet, plenty of betting sites that were licensed and regulated in other jurisdictions could offer their services to US customers. This created a loophole of sorts that basically meant that both the players and the online betting sites were doing nothing wrong.

The Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006 tried to change that by making financial transactions for online gambling illegal. The move did drive a lot of operators away from the US market, but since it didn’t target the players or the process of accepting real money wagers, a number of online gambling operators continued to welcome Americans.

Since the repeal of PASPA, there are now several legal US betting sites operating within the country. These legal betting sites are licensed and regulated by the state(s) in which they’re based. Most of the top USA betting sites, however, operate elsewhere.

It’s important to note that there’s nothing wrong with that. They are perfectly legal in the jurisdictions where they are licensed, and bettors are not breaking the law by placing wagers with them, either.

The NFL season is now over, so betting on football is no longer an option in March. Don’t worry, though, there’s plenty of action in other major US sports.

The MLB is back with some spring training games and there’s a certain NCAA basketball tournament that you might’ve heard of!

Can You Make Money Sports Betting Apps

That’s just in the USA, there are many other exciting competitions from all over the globe that you can bet on March. Let’s take a look at the most appealing gambling opportunities this month.

• March Madness starts and the top college basketball teams will be fighting for eternal glory
• The NHL and NBA both continue, with plenty of games to bet on.
• All the top European soccer leagues are still going and the Champions League is in the knockout stage now.
• There are several tennis tournaments, including the Miami Open

That’s just the tip of the iceberg when it comes to sports betting in March. There are many other events, including UFC fights, boxing, golf, and so much more.

Our sports blog is the place to go to check on for all the latest updates on what’s going on, along with regular analysis from our experts. You should also check out our betting picks section for all our latest recommended wagers.

More Real Money Online Betting Sites

The sites we recommend on this page are the best overall sites for betting on sports online in the USA. However, there are other sites worth considering, too, especially if you have some specific requirements or preferences.

We rank the top online betting sites in a variety of different categories, and below are some that might interest you.

Football is the most popular sport in the United States, and also the most bet on. It’s no surprise, therefore, that most online sportsbooks cover the NFL and college football extensively. Some cover the Canadian Football League, too.

Simply covering the sport is not enough to be considered the best, though. The top football betting sites go the extra mile and beyond, to ensure that they do everything they can to satisfy the most ardent football bettors.

All of our recommended US betting sites make fast payouts. We wouldn’t recommend them if they didn’t! Some are faster than others, though, and there are certain sites that process cash outs in super quick time.

If getting your winnings paid out as quickly as possible is THE most important thing for you, then you should check out our list of the fastest paying betting sites.

The top US sports betting sites will all take a good sized wager. When betting on mainstream sports in particular, the limits should be high enough for almost everyone.

If you’re looking to wager especially high stakes, however, or wanting to bet big on some of the less popular sports, then you might want to consider a site that specializes in catering for high rollers.

Can You Make Money Sports Betting Reddit

With the online gambling industry as competitive as it is, all betting sites have to work hard if they want to be successful. Most sites use bonuses and rewards to attract new customers and keep existing ones happy, but some are more generous than others.

If you’re looking for the best bang for your buck, these are the sites you should be betting with.

Our rankings are regularly updated to ensure they’re always accurate. As of right now, these are the best US sports betting sites online.

Can You Make Money Gambling

As far as we know, there isn’t a single bettor from the United States who has been convicted or even charged for betting on sports online.

We’re not lawyers, but our interpretation of the current US gambling laws is that individuals are not forbidden to place bets on sports online.

If you stick to trusted US betting sites, like the ones we recommend, you shouldn’t have any problems.

Bookmakers that don’t have a license from a legit jurisdiction are another story, so make sure to avoid them.

There are plenty of ways to bet on sports online. For a start, you can pick traditional options like moneyline, spreads, and totals.

Most of the reliable sports betting sites for the USA also offer props, futures, and outrights for the majority of the sports and leagues they cover.

Sports Betting Winning Systems

The best online sports betting sites for USA bettors usually cover at least a few convenient options.

Common options include credit cards, cryptocurrencies, wire transfers, and money transfer services. Alternatives are often available, too.

Our recommendations can all be classed as fast payout betting sites. Payouts via Bitcoin and other cryptocurrencies are very quick and seamless.

Other withdrawal methods can take a little longer, but you’ll rarely be waiting long for your winnings if you bet with the top US online sportsbooks.

Gambling addiction can have devastating consequences. We strongly encourage responsible gambling, and recommend that you seek help immediately if you feel like you might be losing control of your betting

The best US sports betting sites will typically allow you to apply limits to your account in terms of how much you can deposit and wager. Please take advantage of these if necessary. You can also choose to self-exclude completely if you wish.