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Buffalo Raceway is a harness race track just south of Buffalo, NY. Hamburg, New York resident James J. Dunnigan opened the doors of Buffalo Raceway in June ofshortly after New York State passed a bill allowing pari-mutuel harness racing. He selected the Erie County Fairgrounds in Hamburg as the site of his venture. The Fairgrounds had a half mile race track and grandstand in place for its Fair activities and, being only 14 miles from downtown Buffalo, provided an excellent location. Racing was very competitive and area residents welcomed a new sport to Western New York.

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By setting limits on how big a bet can be, worst case scenarios are pretty controlled and you have time to adjust your strategy. It is often assumed that to bet on sports one needs to understand sports. Not necessarily, as it is the statistical data which must be understood. In theory one could bet based on numerical charts without ever seeing the ball roll.

However, it takes time to develop an understanding of how different data points evolve from match to match, so keeping careful track of the relevant players and clubs over time is essential to knowing what you are in fact wagering on. The above key points all end in discipline. Putting in the effort every weekend to ensure the wisest risks taken. Many are unwilling to do this, and for good reason.

Your email address will not be published. This site uses Akismet to reduce spam. Learn how your comment data is processed. Is it possible to profit from sports betting? Related Articles. It requires the lowest bankroll and has the highest profits. Your profits are largely dependent on how much time you are willing to spend on it. It is reasonably complex, but by using some matched betting software, you can make it very simple and quite profitable.

Eventually, the bookmakers will realise what you are doing and no longer provide you with any promotions. At this point, you should move onto either arbitrage or value betting depending on your risk profile. Alternatively, you can make some easy money from matched betting, cash out your profits and then stop there if you like, and never place another bet in your life.

The choice is yours. Do you remember earlier when we discussed how bookmakers made money by building a profit margin into their odds vigorish? Well, this works very well for the bookmakers when you are betting your own money. Well, this is the essence of matched betting. Like any other business, bookmakers often run promotions to encourage new customers to sign up with them.

To attract new customers they often run promotions whereby they will provide you with free bets when you make a new account and deposit some money. Right, sorry about that! Backing a bet refers to what we normally do at a bookmaker, that is, place a bet on a particular outcome to occur.

Laying a bet is what the bookmaker is doing, it is betting on an outcome to NOT occur. By both backing and laying a bet, we can cover all outcomes. This ensures that no matter what happens, at least one of our bets will pay off. Well yes, normally, but remember we are using a free bet, which is enough to overcome the vigorish.

So how do we lay a bet if bookmakers only accept back bets? Well, we go to a betting exchange, the most famous and largest being Betfair. Betfair is a marketplace that connects people who want to place bets. If someone on Betfair wants to back a bet at certain odds, you can then lay a bet at the same odds. This means that you are acting as the bookmaker to that person. Chelsea have had a bad run recently, and our bookmaker has set them at odds of 4.

If they lose, we lose nothing, as we are using a free bet, not our own money. We can make the outcomes more symmetrical by laying Chelsea at the betting exchange. At the betting exchange say Betfair , Chelsea have lay odds of 4. The example above may seem very complicated, but with a little practice, a bet like that will take you less than 5 minutes!

The more bookmaker accounts you have, the more promotions you will receive and the more you can profit! The bookmakers also run ongoing promotions to existing customers. An example of this is a boosted odds promotion. For example, the odds for a team to win may normally be 3. A bookmaker may run a promotion whereby these odds are boosted to 5. This is much higher than their built-in profit margin vigorish , which allows you to back a bet with them, then lay the same bet at the exchange and profit regardless of the outcome!

An assisted matched betting service can help speed up the process greatly. They will scan all of the bookmakers daily and keep an updated list of current promotions. They also have odds matching software, which scans the odds for thousands of sports matches across tens of bookmakers to find the optimal bets and odds for you to use your promotions on.

They alert you to the latest promotions, you select the ones you like, and they find the optimal bet and calculate the perfect stakes for you. This allows you to place many, many bets in a short space of time. In exchange, they charge a modest, monthly fee. You can read more about assisted matched betting including which software packages I recommend via the button below.

Almost all services offer a free trial, so I recommend that you take advantage of this. Access my matched betting resource page that has everything you need to get started! Initial Bankroll. Bookmaker Accounts. You will need soft bookmaker accounts to be able to place bets. You can start with and then open more once you are feeling confident.

Betfair Account. Critical to profiting from matched betting is your Betfair account. You will need this to lay the bets that you are backing at the bookmakers. Your Betfair account will never be limited and they welcome matched bettors, so a free Betfair account is a very valuable asset. Matched Betting Service Account. Did you look at the matched betting example earlier and find it confusing?

The bookmaker promotions often come with lengthy terms and conditions that can be difficult to interpret, even for experienced bettors. Many matched betting services offer free trials. Find out which ones I recommend in my article on assisted matched betting.

Want to read more about how to get started with matched betting? Check out these detailed articles:. Once the bookmakers stop offering you promotions they will usually send you an email when this happens , it is time to move onto either arbitrage or value betting. Arbitrage is a lower risk, lower reward strategy, whereas value betting is a higher risk, higher reward strategy. I will explain both of these strategies in detail now, so that you can figure out which one is right for you.

Arbitrage betting , much like value betting is a strategy that involves taking advantage of opportunities that arise when the bookmakers make mistakes with their odds. To understand how this works, you need to be aware that there are two types of bookmakers: soft bookmakers and sharp bookmakers. Most of the bookmakers that you can think of off the top of your head are soft bookmakers. Their business model consists of attracting casual punters, offering them poor odds with large profit margins factored in and making money from the relatively low volume of bets but high profit margins.

Sharp bookmakers, on the other hand, have very accurate odds with low profit margins. They accept very high stakes from customers. They change their odds very quickly when news breaks that could impact the outcome of a match. You can learn more in my article about the difference between soft and sharp bookmakers. Help: I can't access sharp bookmakers! Unfortunately, not all sharp bookmakers operate in all countries.

Pinnacle , being the best and most well known sharp bookmaker, no longer operates in the UK, Australia and a number of other countries. However, you can still access these sharp bookmakers through the use of an intermediary service, known as a betting broker. They can open a number of sharp bookmaker accounts on your behalf, even if those companies don't operate in your country. Find out which are the best betting brokers! Arbitrage betting involves taking advantage of opportunities that arise when the soft bookmaker and sharp bookmaker odds are so different that you can bet on both outcomes of a match and profit regardless.

In any case, the odds are far enough apart that we can bet on both outcomes and profit regardless of which one occurs! You can use an arbitrage betting calculator to help you work out the stakes. An arbitrage bet like this typically takes less than 5 minutes to complete. An alternative strategy is to lay the bet at a betting exchange rather than use a sharp bookmaker. This is a little more complicated but has the same end result: locked in profits! Great question. In this situation, you would need to place a third bet with another bookmaker to cover the draw as well.

Please check out my detailed article on how to find arbitrage bets. Essentially, it is possible to find these opportunities manually, but by using a software package that scans tens of sports and over bookmakers, you can speed up the process dramatically, resulting in greater profits! Check out my article below for some recommendations of free arbitrage betting software!

Decent initial bankroll. Use your winnings from matched betting to kick start your arbitrage betting. Soft bookmaker accounts. The best soft bookmakers for you depends on which country you live in. Have a look online for which bookmakers are offering the best bonuses in your country. Check out my list of recommended sharp bookmakers. Having a Betfair account is also useful. Arbitrage betting software. There are a lot of options out there for arbitrage betting software. You can check out my recommended arbitrage software.

Essentially, I think RebelBetting is the best arbitrage software out there. Value betting is quite similar to arbitrage betting in a number of ways. It also involves exploiting opportunities that arise when a soft bookmaker makes a mistake with their odds. In arbitrage betting we place a bet with the soft bookmaker that has made a mistake with their odds.

Value betting is simpler to execute than arbitrage betting only 1 bet vs. Interested in value betting? Much like with arbitrage betting, it is entirely possible to find value bets with manual searching and by comparing odds on my value betting calculator.

However, this is very tedious and time consuming. I highly recommend that you get some value betting software to speed up the process enormously. Value betting software will compare the odds across thousands of matches and hundreds of bookmakers and alert you when it finds value bets. Once you place your bets, it will log them and automatically categorise the bet as a win or a loss at the conclusion of the match. This allows you to see the performance of your bets over time.

Wondering how to find value bets? This list is pretty similar to arbitrage betting, but you don't need any sharp bookmaker or betting exchange websites of course. Use your winnings from matched betting to kick start your value betting. The more accounts you have the better.

Value betting software. You can check out my recommended arbitrage betting software here. Essentially, I think that again RebelBetting is the best value software out there. The problem with matched , arbitrage and value betting is that they involve taking value from soft bookmakers, which means that sooner or later, your accounts are going to be restricted.

There are basically three options from here on. The first option is to give up on profitable sports betting and enjoy the profits you managed to make. With a fresh set of accounts, you can start the process over again from scratch. However, there is nothing illegal about introducing your friends and relatives to the concepts of profitable sports betting and letting them place bets on their own. The third option is to continue profitable sports betting by taking value from either other punters on a betting exchange, or by taking value from the sharp bookmakers.

This is known as sports trading. I do not recommend sports trading as I think that is very difficult for most people to profit consistently this way. Let me introduce you to such a product. Mercurius Trader is a unique product with an ambitious goal - to turn sports betting into an asset class that anyone can invest in. Released in January but in development for 4 years prior to this, Mercurius Trader uses a quantitative model that is designed to spot value in the Betfair football market, and execute bets accordingly.

It is based upon scientific literature on the topic of football match prediction and is supplemented with their own research and development. It uses millions of pieces of data from historical football matches as an input. Please note that unlike arbitrage and matched betting, your profits are not guaranteed and your capital is at risk.

Profitability depends on the veracity of the Trader model. Read my full Mercurius Trader review here! An alternative or perhaps a complementary strategy to investing in Mercurius Trader is to do value betting on the sharp bookmakers and betting exchanges, rather than on the soft bookmakers.

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