How to Win at Sports Betting in 2024

In the sports betting world, most people's primary objective is deciphering how to win continuously and earn some extra money. While this may sound impossible for many, the reality is that there are several proven methods to increase your chances of success. This guide compares all the major strategies.

In the sports betting world, most people's primary objective is deciphering how to win continuously and earn some extra money for the month.

While this may sound impossible for many, the reality is that there are several methods to increase your chances of success that have been proven to work over the years.

In this article, we'll dive into different strategies to improve your odds of winning in 2024.

From following tipsters to using advanced algorithms like FairOdds Terminal, we'll cover all the bases and determine which option is the most complete and effective one.

1. How to Win at Sports Betting by Following Tipsters

One of the first options to win at sports betting is following renowned tipsters.

Tipsters are sports betting experts who, based on extensive analysis and experience, provide betting recommendations—tips—to their followers.

How Does It Work?

It's a simple model: tipsters analyze match data to find worthwhile winning bets, and their audience generally pays a fee to receive the tips.

You follow their recommendations and place bets based on their analysis.

Pros and Cons

Pros:

• Simplicity: You just need to bet based on their tips
• Community: Many tipsters have an established and active community where you can share experiences

Cons:

• Variable quality: Not every tipster has a reliable and trustworthy track record
• Complete dependence: You're entirely reliant on the skill of the tipster (who is only human), which can be risky
• Cost: Top tipsters can be rather expensive
• Account limitations and closures: As with all strategies to win at sports betting, bookmakers may promptly limit or close your account

2. How to Win at Sports Betting with Your Own Bets

The second popular option is placing your own bets.

Many people believe they have valuable insight on their sport of choice and that devising their own strategy is a valid way forward.

This relies on self-analysis of teams, players, and external factors to make informed decisions.

What Do You Need?

Other than a thorough understanding of the sport you're betting on, you need unwavering discipline, free time, bankroll management skills, and a sharp ability to analyze data and stats.

For more information on bankroll management, see our bankroll management guide.

Pros and Cons

Pros:

• Complete control: You are fully responsible for your actions
• Flexibility: You can tweak your strategy at all times

Cons:

• Required experience: Without expert knowledge, you're unlikely to make consistent profits
• Emotional biases: Impulsive decisions may bring your results down
• Time: It takes many hours to analyze matches and recurrently find value bets
• Account limitations and closures: As with all strategies to win at sports betting, bookmakers may promptly limit or close your account

3. How to Win at Sports Betting with Arbitrage Betting

Arbitrage betting, arbing, or sure betting, is a strategy that takes advantage of discrepancies in match odds offered by different bookmakers.

The goal is to bet on all possible outcomes of an event so that, regardless of the result, you guarantee a profit.

How Does It Work?

Arbitrage betting entails spotting situations where different bookmakers display significantly different odds for the same event, allowing you to place bets on all outcomes and secure a profit.

For more information on arbitrage betting, see our arbitrage betting guide.

Pros and Cons

Pros:

• Guaranteed earnings: If done correctly, you will always make money
• Low risk: Arbing removes the uncertainty usually tied to sports betting

Cons:

• Time and effort: Spotting arbitrage opportunities is complex and takes a long time
• Limitations and account closures: The bookies don't fancy this strategy, so expect to get your accounts restricted
• Fleeting chance: Arbitrage opportunities are often only available for a few seconds or minutes
• Lower returns: Typical returns are 1-3% per arbitrage, which is lower than value betting

4. How to Win at Sports Betting with Matched Betting

Matched betting is a staple strategy that leverages promotions and bonuses offered by bookmakers to generate risk-free profits.

This technique is especially popular in certain regions like the UK, but it's been gaining traction all over.

How Does It Work?

Matched betting involves using free bonuses or promotions, and covering all possible outcomes of an event with "matched" or "lay" bets.

This ensures you profit regardless of the outcome while meeting the bonus requirements.

Pros and Cons

Pros:

• Low risk: If you follow the steps correctly, losses may be minimal or nonexistent
• Simple: There are plenty of guides and resources available
• Low barrier to entry: With a small bankroll and some free time, you can make money consistently

Cons:

• Limitations and account closures: As with all strategies to win at sports betting, the bookmakers can limit or close your account
• Diminishing returns: After you've used up the bonuses initially available to you, the opportunities to keep matched betting decrease
• Slow process: The earnings are small (€1-3 per promo), so you'll have to complete many promotions to earn significant money

5. How to Win at Sports Betting with Traditional Value Betting

Value betting is all about identifying bets in which the implied probability in the odds is lower than the actual probability of that outcome happening.

In layman terms, you bet when the bookmaker's odds are "wrong" and provide a mathematical advantage.

How Does It Work?

To find value bets, the general strategy involves comparing bookmaker odds with your own probability estimates, or using bookmakers that set their lines tightly (like sharp bookmakers).

If you spot a favorable mismatch, you place the bet.

What's most common in the market are the well-known steamers or dropping odds services that monitor sharp bookmaker movements.

For more information on dropping odds, see our dropping odds strategy guide.

Pros and Cons

Pros:

• Mathematically proven: It lets you take advantage of poorly estimated odds
• High volume: Unlike other methods, the volume of bets you can place tends to be very high
• Profitability: You can achieve good returns in a short time

Cons:

• Requires continuous dedication: You need to constantly seek new opportunities
• Short-term fluctuations: You might experience losses in the short term despite the long-term mathematical advantage
• Limitations and account closures: As with all strategies to win at sports betting, the bookmakers can limit or close your account
• Initial costs and subscription fees: It requires an investment in analyzing tools and a sufficiently high starting bankroll
• Dependence: The model often relies on monitoring sharp bookmaker odds and trusting their accuracy
• Market saturation: The market is very saturated, and users of these services are often the ones most affected by odds dropping, as it's easy for bookmakers to detect this strategy

6. How to Win at Sports Betting with FairOdds Terminal Value Betting

The final approach, and perhaps the most advanced one, is value betting using proprietary calculations, like those offered by FairOdds Terminal.

What sets us apart is that we are an automated system that combines advanced algorithms and mathematical analysis to precisely and efficiently identify value betting opportunities.

We don't need to wait for anyone to find the bets. We calculate our own minimum odds and are ready to identify value thanks to monitoring over 60 available bookmakers.

How Does It Work?

FairOdds Terminal employs its own algorithms to calculate minimum profitable odds and identify value bets instantly.

The system scans dozens of bookmakers in real-time and alerts you to value opportunities so you can place the bet.

You can configure custom filters to find unique value bets that aren't being exploited by everyone else, reducing the risk of being detected by bookmakers.

For more information on configuring filters, see our tailoring alert configurations guide.

Pros and Cons

Pros:

• Algorithmic accuracy: The system is founded on continuous data and analysis, reducing the margin for error
• Automation: The process is much more efficient than manual analysis
• Independence: Using your own odds calculations grants independence from other systems
• Unique opportunities: Since we calculate our own minimum profitable odds, the bets are unique and exclusive to FairOdds Terminal users. No one else has them, which reduces the risk of being swiftly detected by bookmakers compared to traditional value betting methods
• User-friendly: Designed for people who have never bet before or have little experience. The interface is perfectly user-friendly, and it provides the odds, bookmaker, match, and amount of money to bet all at once
• Versatility: Much more versatile than traditional value betting, with customizable filters and real-time monitoring

Cons:

• Initial costs and subscription fees: It requires an investment in analyzing tools and a sufficiently high starting bankroll
• Short-term fluctuations: You might experience losses in the short term despite the long-term mathematical advantage
• Limitations and account closures: As with all strategies to win at sports betting, the bookmakers can limit or close your account
• Availability: While it requires decent availability to place multiple daily bets, it's much more flexible than traditional value betting

Conclusion: The Best Strategy to Make Money from Sports Betting in 2024

As we've seen, there are many ways to make money with sports betting, from following tipsters to applying advanced strategies like arbitrage and value betting.

However, not all options yield the same profitability, require the same effort, or are equally effective for the time invested.

In the end, everything hinges on your personal situation: how much time you have, your bankroll, and your specific skills. There's no right answer.

But we can offer a summary to help you figure out which strategy is best suited for you.

For Small Bankrolls (Below €3,000)

Arbitrage and matched betting are fitting for those with lots of free time, patience, methodical habits, and a bankroll below €3,000.

These methods offer risk-free profits but are difficult to scale and face significant limitations, especially with arbitrage.

The picture looks very similar for those who choose to devise their own bets. You'll need time to follow the chosen competition, stay updated on the latest news, and monitor market movements.

A deep knowledge of the sport and above-average betting skills are essential to manage risk and money.

For Medium Bankrolls (€3,000 - €5,000)

Traditional value betting using sharp bookmaker odds as a base is a profitable technique for those with medium to high knowledge of sports betting looking for better returns.

You'll need a bankroll above €3,000 and the ability to place bets at any given time.

The downside is that to take full advantage of the strategy, you'll need to be very adept at navigating various bookmakers to find the best odds and set account limitations back.

It's a purely manual and cumbersome process.

Moreover, the market is very saturated, and users of these services are often the ones most affected by odds dropping, as it's easy for bookmakers to detect this strategy.

Ultimately, it requires a significant time investment, particularly on weekends.

For Larger Bankrolls (€5,000+)

Value betting with proprietary calculations, like the services offered by FairOdds Terminal, is the most comprehensive option for winning at sports betting in 2024.

It's designed for people who have never bet before or have little experience. Its interface is perfectly user-friendly, and it provides the odds, bookmaker, match, and amount of money to bet all at once.

Your only task is to follow the betting notifications.

To get the most out of it, you'll need a €5,000 and up bankroll, and while it requires decent availability to place multiple daily bets, it's much more versatile than traditional value betting.

Additionally, since we calculate our own minimum profitable odds, the bets are unique and exclusive to FairOdds Terminal users.

No one else has them, which reduces the risk of being swiftly detected by bookmakers compared to traditional value betting methods.

For more information on getting started, see our value betting guide for beginners.

Ready to start winning at sports betting? Use FairOdds Terminal to find unique value bets across 200+ bookmakers and start profiting from sports betting using advanced algorithms and mathematical analysis.

How to Win at Sports Betting FAQ