If you want to make $100 a day sports betting, you’re in the right place. But I have to warn you that this goal takes a lot of work. And many sports gamblers can’t do it.
The best way to make $100 a day betting on sports is learning how to handicap sports events. You also need a large bankroll and discipline. But you can make $100 a day sports betting. It just takes a lot of work.
On the good side, $100 a day is $36,500 a year. But on the bad side, more people lose money betting on sports than make money. Keep reading to find everything you need to know if $100 a day is your sports betting goal.
I like this topic better than the more general post I wrote about how to win money at sports betting. I like having a specific goal.
Your Sports Betting Bankroll
If you want to make $100 a day betting on sports you need a bankroll.
The first thing most sports gamblers think of is placing winning bets. But you can’t win money betting n sports if you don’t have money to invest. So, the first step in your quest is putting together a bankroll.
How much money do you need to win $100 a day?
I know this number might surprise you, but I recommend at least $10,000. You might think this is an insane amount of money. After all, you only need to win a $110 bet to win $100 on most games. So, why do you need such a large bankroll?
Do you know the percentage of games the best sports bettors win? The best sports gamblers in the world win between 55% and 60% of the spread games they bet. And you only have to win 53% of your spread bets to make a profit.
If you think you can win more often than professional sports gamblers, you’re in for a rude awakening.
Consider the math of winning $100 a day using these numbers.
You make 100 bets at $110 each. When you win, you get $210 ($110 bet and $100 win). Of the 100 bets, you win 53 times.
Your total cost to place 100 wagers is $11,000. The 53 wins return a total of $11,130. So, your overall profit is $130.
Even if you win 55% of the time, which isn’t likely, your profit is only $550.
You can’t find 100 games with value every day. You can’t even find 100 games with value every week. So, you have to bet more on each game. That’s why you need a big bankroll.
If you want to become a professional gambler, having a bankroll and knowing how to manage it are necessities.
Bet Sizing and Sports Betting
How much should you bet on a game? Does the answer depend on how much value the game seems to offer or the size of your bankroll or something else?
The answer is all of the above. But the amount you bet based on your bankroll needs to be lower than you’re thinking. With a $10,000 bankroll, how much do you think you should bet on each game?
If you answered anything over $300, you’re risking too much money. I recommend betting between 1% and 3% of your total bankroll on each game. With a $10,000 bankroll, your bet range is $100 to $300. Because most bets are 11 to 10 or 110 to 100, the range can be $110 to $330.
You also need to adjust your bet size based on value. Of course, you should never bet on a game that doesn’t look like it has value. But your top bet limit should only be used on games with top value.
So, you use a scale. Bet $110 on games with value, $220 on games with more value, and $330 on games with top value.
The math is different betting on moneylines. I recommend starting with point spread bets and adding totals later. You can handicap for moneylines when you create a profitable track record on other bets.
Quantity or Quality Bets? (How to Make $100 a Day Sports Betting)
Do you need to focus on making a lot of bets, or focus on finding a few games offering the best value? I’ll explain why this is the answer shortly, but the answer is quality over quantity.
Effective handicapping takes time. And you should never bet on games that you haven’t handicapped. The purpose of handicapping is to find value. If you don’t find value, you don’t bet.
It’s hard to find value in handicapping. And the more games you bet on, the harder it is to make a profit. You’re always better off identifying games with the best value and betting on them.
If you can identify a single game every day with good value, you can make a profit. But to average $100 a day, you have to bet large amounts on each game. And this goes back to why you need a big bankroll.
When you can bet $1,100 on each game, you don’t need to bet on as many games to average $100 a day profit.
Handicapping Sporting Events
Your ability to make $100 a day sports betting comes down to your ability to handicap sporting events. If you’re a good handicapper the only thing between $100 a day and you is the size of your bankroll.
But, if you’re not a good handicapper, you’re never going to reach your goal.
The problem is nobody can teach you how to be a great handicapper. You need to learn as much as you can, but most of your education comes from experience. And handicapping games is the only way to get the experience you need.
Start evaluating sporting events and players immediately. Keep handicapping every day and keep learning. Track your results and make frequent adjustments.
You can talk to other handicappers. But they’re never going to share their best sports betting strategies. The best handicappers learn on the job. It’s time to get started.
Long-Term Sports Betting Results
The title for this post might be a bit misleading. I don’t know any sports gamblers making $100 every day. But some average $100 a day or more. And this is what your goal needs to be.
Some days you’re going to make more than $100. And some days you lose money. The key is winning more than you lose on average.
With a $10,000 bankroll, you’re usually betting from $110 to $330 per game on one to three games a day. And no matter how much value a line offers, losing every game in a day isn’t uncommon.
On the other hand, some days you win every game you bet, as long as you’re only betting on value.
Focus on finding value, not on daily results. If you’re truly finding value, you make money on average. And the only way to know if you’re finding value is by tracking long-term results. Long-term results require at least 100 wagers, and 500 is a better gauge. It might take a year or longer to find 500 games worth betting.
The $100 a Day Sports Betting Plan
Here’s a good plan to make $100 a day sports betting. This isn’t the only way to do it, but it’s a good plan. And if you don’t have a plan, start with this plan. You can always make adjustments later.
- Pick a sport to specialize in. Invest all of your time learning everything you can about your chosen sport, the teams, and the players.
- Start handicapping games on paper. Betting on paper means that you use an imaginary bankroll and make imaginary bets. After you learn how to make money paper betting you start making real money wagers.
- Put together your sports betting bankroll. I recommend at least $10,000, but you can try if you have at least $2,000.
- Find one game offering the highest value every day. When you learn how to identify the game with the best value consistently, identify two or three games with good value every day.
- Use at least two or three different sportsbooks so you can place bets with the best lines. You might decide to have accounts at Bovada, BetUS, and MyBookie, for example.
- Track everything you do. Track your results, how much time you invest in handicapping games, and anything else you can use to improve your results.
- Don’t overbet your bankroll. Bet 1% to 3% of your bankroll on every game. Betting 5% or more on a game is dangerous and can quickly kill your bankroll.
- Evaluate everything you track every day, week, and month. Make adjustments and constantly improve your handicapping skills.
Conclusion
Can you make $100 a day sports betting? Yes, but you have a lot of work to get there. And many sports gamblers never reach this goal.
The first obstacle is your bankroll. And the second is handicapping skills. With the proper bankroll and handicapping skills, it’s just a matter of time before you average $100 a day.
But if you follow the plan in the previous section, you’re starting on the right foot. And you’re handicapping skills improve with practice. Start handicapping sporting events right now. Even if you don’t have a bankroll yet, start paper betting. It’s an inexpensive way to improve your skills while building your bankroll.