How To Become A Sports Betting Millionaire (A Low Risk Strategy)

Do you dream of becoming a millionaire? 

Most punters who frequently bet on sport have this dream of becoming self-made millionaires by backing their instinct and knowing how to assess sports form, however very few achieve their dream.

You could ‘strike lucky' with a once in a lifetime low stake, high odds accumulator, but the chances of success are usually far worse than the eventual payout, which means that the vast majority of these speculative investments inevitably come to grief.

Having spoken to many regular punters over the years, I have ascertained that there are a number of factors which prevent genuinely profitable punters from making substantial returns on their investments, these include:

1. Lack of focus: Resulting in losses due to bets being placed on events in which the punter's knowledge is limited, you need to know the form.

2. Lack of a separate betting bank: Resulting in bets being placed only when the punter has some spare cash in their pocket/general bank account, thus missing potentially profitable wagers when funds are tight.

3. Erratic staking of bets: This is, often linked to point 2  leading to small profits when the punter has little spare cash and hefty losses when the punter is flush, especially after collecting on a few winning bets when they consciously believe that they are invincible.

4. Lack of self-control: Leading to punters frittering away their winnings on a short term luxury, rather than considering banking the profits to increase their betting bank, thus enabling them to place higher stakes wagers in the future. 

5. Lack of patience: Resulting in punters placing high-risk multiple bets in an attempt to make serious money almost instantly, rather than taking a longer-term view.

Sports Betting Millionaire Plan

However, if a punter is able to negate all of above, there is a strong possibility that they will be rewarded with substantial profits in the long run.

Before I explain how the SPORTS BETTING MILLIONAIRE PLAN works, it is worth listing below the 5 requirements that the prospective user will need to satisfy in order for the plan to have a chance of success

Profitable Betting Methodology

The punter will need to have sufficient knowledge of the sport(s) on which they intend to bet to be able to make consistent long term profits.

The level of profit need not be massive in terms of real value in relation to the size of their initial betting bank, although I would suggest that the minimum requirement would be around 2 points on average per week over the period of a year.

The fact that the punter is capable of making long term profits on their wagers indicates that they are finding value, irrespective of whether they are consciously seeking odds that are greater than the chance of their selection being successful, or not.

For anyone who is interested, my personal thoughts regarding the selection of value wagers are detailed on: Naps Of The Day - How To Choose Value Selections

Initial Betting Bank

The punter will need to set aside a modest betting bank which must be kept separate from funds that are required for day to day living expenses. 

My experience would suggest that the initial betting bank should consist of 100 points, albeit the value of each point could be a small as one standard currency unit (e.g. £/$/€ 1, etc).

Therefore an initial betting bank of £100 (or $/€ 100) should be sufficient and as this is the maximum liability should the project fail, this represents an extremely low-risk investment.

If the punter is struggling to lay their hands on this amount of spare cash, I would recommend that they consider joining OLBG and enter the tipping competitions which are free to enter and provide a great opportunity to win sufficient cash to fund their betting bank as detailed in the OLBG Tipping Competition Prizes

Staking Plan

The exact details of the staking plan will very much depend on the punter's experiences when betting on their chosen sport(s),

However it should be noted that the minimum requirement for the plan to work is that profits should average 2 points per week over a period of a year, (will effectively double the betting bank over 12 months), whilst taking every opportunity to mitigate the risk of losing the entire betting bank (initially 100 points) during a sustained losing run.

Self Control

To ensure that the plan is given every opportunity to succeed, it will be necessary for the punter to rigidly adhere to their methodology for assessing potentially profitable wagers in respect of their chosen sport(s) and to refrain from betting in events where their knowledge is not sufficient to make informed decisions. 

It is also imperative that the punter adheres to their chosen staking plan, and does not fall into the trap of randomly increasing/decreasing the size of their wager based on whether they are enjoying a prolonged winning streak, or suffering a confidence-sapping run of losers.

Patience

The main aim of this plan is to provide punters with a methodology to turn a relatively modest initial betting bank into a substantial profit (hopefully 1 million currency units) over a period of time, thus it is imperative that the punter does not spend their winnings on short term luxuries, but reinvests the funds in the betting bank until their ultimate goal is achieved.

However, the plan will also work for punters who set themselves less lofty goals and wish to fully, or partially ‘withdraw' their accumulated betting bank to cover a major purchase or change of circumstance in the future.  

As the famous saying goes, “Rome was not built in a day”.

HOW DOES THE SPORTS BETTING MILLIONAIRE PLAN WORK?

In theory, the SPORTS BETTING MILLIONAIRE PLAN is a very simple tool that will enable profitable punters to steadily increase the value of their initial modest betting bank.

It does this through doubling the betting stakes each time their betting bank doubles in value, until such times as they wish to withdraw a significant lump sum, or become Sports Betting Millionaires, provided they are able to rigidly comply with the 5 requirements listed in the previous section of this article

The best way of clarifying this statement is to provide the following example, in which I have assumed that the punter has an initial betting bank of £100, whilst making a profit of 100 points per year (just under 2 points per week on average) by placing level stakes bets of 1 point (initially £1).  

In this example, the ultimate goal of £1 million would have been achieved during year 14, which may seem a long time to wait, however, it is worth remembering that the initial betting bank was just £100, which in my opinion is an exceptional return on investment.

Obviously, this is just one of many possible winning scenarios and it is worth noting that had the punter started with an initial betting bank of £1000, they would have reached the magical figure of £1 million towards the end of year 1.

Whilst a £100 betting bank linked to a 4 point average weekly profit would result that the target would be reached at the end of year 7.

IS THE SPORTS BETTING MILLIONAIRE PLAN FEASIBLE?

The answer to this question is probably yes and no.

On the positive side, provided the punter can continue to identify profitable wagers on a regular basis over the years and rigidly adhere to the other requirements listed earlier in this blog, then the balance of the betting bank will increase roughly in line with the example shown above. 

However, there are a number of potential issues that will probably need to be addressed from time to time, as follows:

Reduced level of Winners/Loss of Value

Most punters will be aware that sport is generally a dynamic betting medium which means that it is highly likely that the methods for selecting winners will need to change in the future, whilst the betting market will also change over time as more punters latch on to apparent value options.

Therefore, punters will need to continually work hard to ensure that their selections remain profitable as time progresses and develop alternative winner finding methodologies should their current strategy start to fail. 

As an alternative, some punters may wish to consider using the selections of one or more of the most profitable members on OLBG, who regularly post tips (with sound justification) via the various monthly and event-specific tipping competitions, which can be accessed via Free Tips and Tipsters.

Bookmaker Accounts

Unfortunately, most online bookmakers take an adverse view of punters who are able to make a profit from their betting in the long term and will place restrictions on accounts, including exclusion from concessions (e.g. withdrawal of Best Odds Guarantee, refusal to lay bets at early prices, etc) and/or placing exceptionally low limits on the size of stake. 

Alternatively, the bookmaker may close down the account for successful punters. 

In my experience, these negative tactics are rarely deployed by bookmakers for accounts that are being used by punters who are betting for small stakes during the early stages of the SPORTS BETTING MILLIONAIRE PLAN, however as the value of each bet increases, the risk of account restrictions/closure increases. 

To reduce the risk of early closure of accounts, punters should open betting accounts with multiple bookmakers and spread their bets as widely as possible, as this will not only delay the bookmakers taking action but will also enable the punter to place bets at the best odds available during the plan.

Betting Exchanges

As an alternative to placing wagers with Bookmakers, punters may prefer to use one or more of the Betting Exchanges, such as Betfair, Betdaq, or Smarkets where there is little to no risk of the account being restricted, or closed. 

The odds on offer with the Betting Exchanges tend to be very competitive in relation to those that are available through the bookmakers, however a commission is charged as a percentage of all winning bets. 

Generally, the commission charge will be around 5%, or less but punters who have successfully deployed the SPORTS BETTING MILLIONAIRE PLAN and are placing the sizeable bets that are recommended as the plan progresses may fall foul of the controversial Betfair Premium Charges, which could well erode the profitability of their selections and prevent the punter from achieving millionaire status. 

The other potential issue, when using the Betting Exchanges is that of marketing liquidity, where the punter is trying to place sizeable bets on less popular sporting events, with the result that they struggle to get their bets matched at the odds that are required to ensure that overall profitability is maintained.

Bet Brokers

I must admit that I have no experience of using Bet Brokers, however, I understand that they offer high staking punters the opportunity to place sizeable bets, albeit the odds on offer will be generally slightly below those available via both the bookmakers and the betting exchanges.

The punter would need to ensure that the margin that is charged by their bet broker does not significantly impact the overall profitability of their investments.

Punter Comfort Level

From personal experience, I have found that there is a level of stake over which I am uncomfortable placing bets and I suspect that most punters who decide to implement the SPORTS BETTING MILLIONAIRE PLAN will encounter similar issues at some stage.

Although in reality, they are only risking their initial 100 currency unit betting bank, with the rest of the funds having been won at the expense of the bookmakers, or fellow punter on the betting exchanges. I have found that however hard I try to convince myself that I should not be scared of placing bets for values above my comfort threshold, I start to get ‘twitchy' and quickly stop enjoying my betting.

If this happens, my recommendation is that punters should immediately reduce their stakes to below their comfort threshold and accept that although they may never achieve millionaire status, they will hopefully have accrued a significant betting bank when compared to their initial outlay of 100 currency units.

PRACTICAL APPLICATIONS FOR THE SPORTS BETTING MILLIONAIRE PLAN

I guess this section could also be entitled ‘Does the SPORTS BETTING MILLIONAIRE PLAN work in practice.

My close friend Jim who was kind enough to listen to my rambling whilst I formulated the SPORTS BETTING MILLIONAIRE PLAN has for many years specialised in betting on tennis.

He deployed the plan 13 years ago, and whilst I cannot share details of his current betting strategies, or the size of his betting bank, I can confirm that he enjoys a good annual income from his exploits by withdrawing just the annual profit each year. 

My twin nephews have also deployed the plan but have encountered different experiences. 

Peter has focussed his bets on English Premier League football and after 8 successful years during which he reinvested all of his profits into his betting bank (initial deposit £100) he has withdrawn the profit for the last year to place as a deposit for the purchase of his first house.

He expects to cover his mortgage repayments by withdrawing a portion of his future annual winnings, whilst growing his betting bank at a slower rate. 

His twin brother John, encountered a few problems due to the fact that he attempted to start plans on various sports where his knowledge of the betting form was insufficient to maintain the level of winners required to make long term profits, which resulted in his first 7 attempts failing.

He initially lost £700 over the course of a couple of years but has since deployed two successful plans based on betting on Cricket which has produced good profits and easily covered his initial losses, albeit he is now looking to find an alternative approach/sport, 

He has recently encountered some difficulties due to the closure of betting accounts and lack of liquidity in certain cricket markets on the betting exchanges. 

As for myself, I focus on horse racing and compartmentalise my bets based on specific winner finding strategies, which means that I set up an individual plan for each strategy. 

During the past 13 years, I have started 81 plans (total outlay £8100), many of which have failed, usually due to the fact that I tend not to spend a huge amount of time testing each strategy, thus they fail during the first couple of years. 

However, I currently have 12 plans that have either reached or surpassed the 5-year stage as detailed in the table above, including 2 that are now at year 9 stage and my favourite strategy that has just become a teenager. 

Due to the fact that my staking comfort zone is well below 4 figures, none of my individual plans will ever reach the ultimate goal of £1 million, although the extra income from my oldest strategy is a welcome addition to my pension, and the value of my combined betting banks vastly outweighs the original outlay during the last 13 years. 

However, I still dream that I can become a millionaire from sports betting if I can accrue enough individually profitable plans at my maximum comfort zone level.

For 2017, I have initiated 6 new plans based on my latest horse racing project (see link below) and intend to deploy a further 4 plans before the end of the year, all of which have been funded from prize money that has been kindly awarded for my activity on OLBG.

CONCLUSION

I appreciate that the SPORTS BETTING MILLIONAIRE PLAN will not appeal to every reader of this article.

I hope that serious punters who regularly make moderate profits, will consider it as a possible means to make significant profits in the future, without being exposed to the risk of losing a relatively large initial betting bank. 

Unfortunately, the plan will not magically turn a losing punter into a highly profitable one, nor will it reduce the need for hard work,  form study, dedication, focus, and patience, but please believe me when I say that these attributes become easier to maintain when the betting bank is increasing on a regular basis. 

I hope that readers have found this analysis of interest and as usual, I would welcome any comments or questions regarding the SPORTS BETTING MILLIONAIRE PLAN via the comments section below. 

If you have enjoyed this blog, please feel free to share the link on social media, with your friends and contacts who are interested in sports betting.