Analysts project that the U.S. sports betting industry may be worth as much as $7.9 billion by the year 2024. And the rest of the world isn’t too far behind either. Considering that most experts estimate that at least $100 billion is bet annually on sports betting’s black market, now that sports betting has been legalised in the U.S., a $7.9 billion a year projection seems a conservative estimate by comparison. And since the majority of sports bettors would much rather go the legal route, i.e. a mostly reliable and match-fixing free industry, the sky appears to be the limit.

Its also true that many sports fans would love to bet on sports, whether recreationally or even for a living, but are hesitant simply because of not knowing where or how to get started. This is a pity because winning at sports betting really only comes down to the following three things.

Its All About Value

The trick is to work harder and think smarter than the average bookmaker. Granted, this is no easy task. But given the right amount of commitment and tenacity, it can be done. A good place to start is to consider those tournaments or contests the bookies don’t spend as much time on. An example of this would be drawing a comparison between the MLB World Series and the thousands of lower-profile seasonal MLB games in between. Bookies obviously spend way more time working out the lines for the huge events than what they do on the smaller in-between games. Learn to spot the value in these.

Mind That Bankroll

The difference between winning and losing at betting on sports, and especially when considering sports betting as a means to making a full-time living, is your attitude toward what it means to holding down a typical job as opposed to betting on sports for your only income.

The bottom-line is this: betting on sports for a living isn’t as glamorous as what you may think. And what its definitely not, is easy money. This is in no way meant to be a deterring statement. Knowing that successfully betting on sports will require even more time and effort spent on a daily basis than what holding down a typical office job would, is the secret to winning at sports betting.

Also, you’re going to need a decent-sized bankroll. What’s more, especially right at the start, you’re going to have to be willing – and able! – to risk quite a bit of that bankroll for the opportunity to make a living out of it.

Shopping Is A Skill

Every successful sports bettor knows that betting is a business. Not unlike any business, betting on sports is about risking money in the hopes of making more money, also known as reporting a profit. Also, knowing how to make the best investments possible with the resources at your disposal and keeping costs and expenses as low as possible, is the key to good business and the key to winning at betting on sports.