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Making a living on Betfair

You can really make a living on Betfair if you really know what you are doing: There are already lots of people who use Betfair betting exchange UK as their only source of income.

However, doing so is not as easy as it sounds and not for everyone: you need to be a professional gambler and have extensive knowledge about how sports betting works.

In this article, we will show you how to start doing this and show you how to make a living betting on Betfair.

So, if you are wondering the answer to the can I earn a living from Betfair question, keep reading: Everything you need to know is explained below.

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What does it mean to make a living betting on Betfair?

First of all, we need to explain that how to make money on Betfair and how to make a living betting on Betfair do not mean the same thing. For example, anyone can make money with UK horse racing betting if they are lucky enough, but make a living on betting is a completely different thing.

This means you are a professional bettor and betting is your “job”, literally. You earn the money you need to make a living by betting and you do this as a full-time job. In other words, making a living on Betfair is much more than placing a couple of bets from time to time.

How to start making a living off betting on Betfair?

As can be understood from this explanation, making a living on Betfair is not something you can suddenly decide to do. If you have decided to earn your life by betting and will be using Betfair for this business, you must first learn the basic Betfair trading strategies.

Betfair is an exchange platform and does not work like traditional bookmakers: Instead, members make their own betting offers and it is possible to buy and/or resell these offers. As a matter of fact, most arbitrage techniques are based on the principle of making a profit by using the difference between these trading transactions.

It is possible to find many arbitrage opportunities at Betfair. In addition, you have to learn and follow all of the basic sports: This is especially true for football and horse racing, as the most betting offers are available for these two sports. In short, the basic making a living on Betfair strategy requires you to be an experienced bettor, view betting as a job, and regularly follow all popular sports.

Are there many people making a living on Betfair system?

It is not possible to tell how many people are using the making a living on Betfair method: There are no official statistics on the subject. However, by definition above, we can say that only professional gamblers can do this, and their numbers are not very large.

For example, it is estimated that there are between 100,000 and 700,000 professional gamblers in the United States. If we include European and Asian countries, we can say that more than one million people fit this definition: So quite a large number of people earn their living by using techniques such as sharbing, dutching and matched betting in bookies that don’t limit betting types. You can also find out here what are unmatched bets and partially matched bets.

How to make a living betting on Betfair?

While there are no “guaranteed” methods for making a living on Betfair, we can recommend the following strategies:

Try long-term betting options

At Betfair, you can find many offers for matches to be played on that day, but these are not your only options: You can also find betting offers for outcomes that will occur in the distant future. For both you can apply a lay the draw betting strategy.

For example, you can start trading on who will win FIFA 2021 right now. In other words, you can buy a bet immediately for an outcome that will happen in a year, and sell it after 11 months at a high-profit rate. See here our low odds laying system.

Laying & backing guarantees a profit

Backing means that you are placing a bet for an outcome to happen (i.e. winning the match) and laying means that your bet is for an outcome that will not happen (i.e. losing the match). Now, with the right odds, you can place both bets for the same match and make a profit no matter how it ends. For example:

  • You have 1.000 EUR.
  • Bookie A offers 1.98 for laying Team A in a specific match.
  • Bookie B offers 2.20 for backing Team A in the same match.
  • Place a lay bet for 537.77 EUR at Bookie A and a back bet for 472.99 EUR at Bookie B.
  • No matter how the match ends, you will make a net profit of 40.58 EUR.

Football is probably your best option

You can choose any sport to generate income, but football will likely be your best option. Due to its popularity, it is possible to find more offers for football and thus more opportunities. You can really make money betting on football by taking advantage of these listings.

So we recommend starting with make a living betting on football Betfair. As an alternative, you can also prefer horse races: It is also possible to make a living betting on horse racing Betfair too. (speaking of which, don’t forget to check our horse betting terms article.)

Remember that there is an online casino, too

Lastly, you can try your chances at the online casino section of Betfair. While this should not be your only method, some casino games (i.e. single deck blackjack) offer quite satisfying RTP rates.

However, making money on Betfair laying horses and/or backing football matches should be your default option.

Pros & cons of making a living from Betfair trading

Like any business, making a living on Betfair has some advantages and disadvantages. Below we briefly list what these are.

PROS

  • You can really make enough money to sustain your life
  • Be the boss of your own business and work at any time you want
  • If you enjoy betting, you will earn an income by doing a job you love
  • Every day you can find new offers and opportunities for different sports and matches: You cannot be “unemployed”
  • You can start working with even a small capital

CONS

  • Forget about being a millionaire: you only earn enough to get by. Unless you are unbelievably lucky, you cannot make big wins
  • You can never completely eliminate the luck factor. No matter how carefully you plan, losing multiple times in a row can cost you all your capital
  • You can earn a fixed profit by playing on arbitrage friendly bookmakers, but arbitrage is a method with a very low margin of profit. The same goes for to make a living on arbitrage betting Betfair.

Frequently Asked Questions about making a living on Betfair:

Yes, it is possible but with two conditions: First, you need to be a professional gambler – this is not a job for beginners. Second, you will only earn enough to get by: Forget about becoming a millionaire.

Backing & laying seems to be the best method because you can make a profit no matter how the match/race ends. It will be a small profit, but still a profit.

Of course, Betfair is not the only betting exchange out there. You can check other football betting and horse racing sites and use the same tactics. However, Betfair is the largest one and, therefore, contains the most opportunities.

While every sport can be used for making a living on Betfair, we recommend focusing on football: It is the most popular one and has the most betting listings.

You can learn how to make a living on Betfair too

Now you have learned how to make a living betting on Betfair: It is not easy but also not impossible. By using the right strategies and picking the best offers, any professional gambler can start to make a living on Betfair.

You can be the next: Make sure to read our other betting & gambling articles to educate yourself. As always, we wish you good luck: If only we could all make a living just by betting!

 

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