Football betting has grown at a staggering rate around the world over the last few years.
Bookmakers in every country offer odds on matches across all of the major leagues and tournaments, sometimes months or even years in advance.
If you’re one of those people who likes a flutter every now and then, winning or losing may not be such a big deal.
However, if you’re a seasoned punter who wants to learn how to make money betting on football, then read on.
Because, with the right strategy, it can yield significant profits and we aim to provide essential betting tips and strategies to help you make the most of your money and your time.
Our five steps, which we write about in detail below are…
1. Learn The Basics Of Football Betting.
2. Use Tipsters, Betting Tools and Resources
3. Develop A Betting Strategy
4. Specialise In A Niche
5. Avoid Avoid Common Pitfalls
1. Learn The Basics Of Football Betting
Before diving into complex strategies, you need to grasp the basic principles of football betting.
So before you every bet a penny, familiarise yourself with different types of bets. If you’re not sure, here are the five most popular football bet types with the best outcomes:
Correct Score or Match Result
This is the most straightforward type of bet. You are betting on the outcome of a match: a home win (1), a draw (X), or an away win (2).
Simplicity is key here. Even if you’re new to betting, it’s easy to understand. You’re just picking the team you think will win, or if it will be a draw.
Look at team form, head-to-head results, and consider home advantage. Be cautious with odds, as favourites offer lower returns.
So while you might win, it might not actually be that much money because of the short odds.
Here, you bet on whether the total number of goals in a match will be over or under a specified amount. Check out our more detail over/under goals explanation here.
It doesn’t matter who wins the match, just the total goals scored. This is great when you expect a high-scoring game but are unsure of the winner.
To make this strategy work, check both teams’ recent scoring records and defensive form.
If both teams are high-scoring, an ‘Over’ bet makes sense. If they struggle to score, consider ‘Under’.
Both Teams to Score (BTTS)
This is very straightforward – you bet ‘Yes’ if you think both teams will score in the match, or ‘No’ if you think at least one team will not.
Like Over/Under bets, you’re not picking a winner. Both teams to score is a good option if two evenly matched teams are playing.
Look at both teams’ scoring and conceding records. If both teams regularly score and concede, ‘Yes’ is a solid choice.
This bet covers two of three possible outcomes, combining them into one bet. For example, you could bet on a team to either win or draw.
It’s a safer bet, offering a higher chance of winning than a Match Result bet. Plus, it’s a good option when an upset is possible.
Use this bet when a match could go either way. The odds are lower, so it’s best used as part of an accumulator or when betting on underdogs.
An accumulator combines multiple bets into one. All your chosen bets must win for you to get a payout.
It offers the chance for big payouts from a small stake. The more bets you include, the higher the potential return.
Don’t get greedy; every added bet increases the risk. Choose bets carefully and consider using it mostly for bets with shorter odds for a higher chance of success.
2. Use Tipsters, Betting Tools and Resources
There are a lot of different apps and tipping services available to help you with your football bets.
Use odds comparison websites to find the best value bets as the range on offer from bookmakers can make all the difference in how much you win.
You can also leverage betting calculators to determine potential payouts.
And don’t forget that you can join tipping services such as Tipstrr who will give you a free bet every day when you sign up.
These tools and resources can provide valuable insights and enhance your betting strategy.
3. Develop a Betting Strategy
Now that you know what are the best bets with the best outcomes, it’s time to develop an actual strategy if you want to know how to make money betting on football.
Your first step in developing a strategy should always be setting a clear budget. Decide on a specific amount of money you are willing to dedicate to betting.
This should be an amount you can afford to lose without affecting your daily life.
Managing your bankroll effectively means deciding on a set percentage of your total budget to wager on each bet.
A common approach is to risk no more than 1-5% of your bankroll on a single bet. This disciplined approach helps to reduce the risk of significant losses.
Analysing Matches and Team Performance
With your money in hand, it’s time to so a little bit of analysis and research.
You should look at previous matches, their outcomes, scoring patterns, and any other relevant factors.
Examine the current form of the teams involved, their performance at home versus away, and any injuries or suspensions that might impact the game.
The goal is to gather as much relevant information as possible to make an informed decision.
Use Statistical Analysis
Use statistics to uncover trends and patterns that might not be immediately obvious.
For example, a team might have a trend of scoring in the first half, or a particular player might have a strong scoring record against a specific opponent.
There are various tools and websites available that provide extensive football statistics to aid your analysis.
You don’t have to turn it into a science, but every new bit of information you can get, will help you make a decent betting decision and improve your chances of winning.
An Actual Betting Strategy: The Value Betting Strategy
Telling you to study statistics and analyse players is all well and good. But even if you do that, you need an actual strategy to implement.
So for the purposes of this article, we’re going to look at the Value Betting Strategy.
This one focuses on finding bets that offer more value than the odds suggest. Rebel Betting are excellent at this so check them out as well. Here’s how it works:
Find Overpriced Odds:
Look for matches where you believe the bookmaker has priced the odds higher than the actual probability of the event occurring.
This requires a good understanding of probability and often involves comparing odds across multiple bookmakers.
Calculate Implied Probability:
Convert the bookmaker’s odds by using the formula: Implied Probability = 1 / Decimal Odds.
Here’s an example:
A bookmaker is offering 10/1 on an away team winning against Manchester City in The Ethiad. The actual probablity of them winning is calcluated like this…
First, convert the fractional odds (10/1) to decimal odds. You do this by dividing the numerator (10) by the denominator (1) and then adding 1.
Decimal Odds = (10 / 1) + 1 = 10 + 1 = 11
Now you can calculate the implied probability.
Implied Probability = 1 / (Decimal Odds) = 1 / 11 ≈ 0.0909
Express this as a percentage and multiply by 100.
Implied Probability = 0.0909 x 100 ≈ 9.09%
So, the implied probability of an event with 10/1 odds is approximately 9.09%.
This means, according to the 10/1 odds, the chances of the away team beating Manchester City at home is 9.09%.
It also means Man City have a more than 90% chance of winning.
Assess True Probability
Use your analysis and statistical research to estimate the true probability of the event occurring.
Imagine you are calculating the true probability of a football team winning a match.
You might look at their win rate over the season, performance at home versus away, goals scored and conceded, and the strength of their opponent.
After analysing these factors, you might conclude that the team has a 40% chance of winning the match.
In this case, the true probability is 40%, which you can compare to the implied probability.
And if your true probability is higher than the implied probability, you have found a value bet.
Manage Your Stakes
Use a staking method like the Kelly Criterion to determine the size of your bet.
This method calculates the optimal stake based on the size of your bankroll, the odds offered, and your assessed probability.
Stick to your strategy, even during losing streaks. Value betting requires patience and discipline, as the profits often come over the long term.
4. Specialise In A Niche
Another good idea when you want to know how to make money betting on football is to specialise in a particular league or type of bet.
This allows you to gain in-depth knowledge and make more accurate predictions. Focus on leagues or markets you are familiar with.
Avoid spreading your bets too thin across various leagues and markets. Concentrating your efforts enables you to become an expert in your chosen niche.
5. Avoid Common Pitfalls
Betting based on emotions can lead to poor decision-making. Stay objective and base your bets on facts and analysis.
Avoid chasing losses, as this can lead to reckless betting and significant financial loss.
Be aware of the psychological traps in betting, such as overconfidence after a winning streak.
Maintain a level-headed approach, regardless of previous outcomes.
How To Make Money Betting On Football?
We started with that question, so we’ll end with it as well. Successful football betting requires a combination of knowledge, strategy, and discipline.
By understanding the basics, developing a solid betting strategy, and managing your bankroll effectively, you can increase your chances of making a profit.
Remember to stay objective, specialise in a niche, and use available tools, tipsters and resources.
With dedication and a calculated approach, football betting can be a rewarding venture.