Sports bettors are thrilled to win any kind of money from their hobby. But can you imagine being able to earn $1 million through sports gambling?

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You may simply see this as a fantasy. After all, few people are good enough to beat sports betting on a consistent basis, let alone win seven figures.

You might be surprised to know that earning $1 million in sports wagering profits is simple in terms of math.

Before making any bet, it helps to know what you're risking for the expected payout. Enter Your 'Bet Amount' - that's what you're risking, along with the American, fractional or decimal odds.
When it comes to sports betting, there is one guaranteed winner that you can bank on: the sportsbooks themselves. They’ll make money in the long run, but we can’t say the same for scores of bettors. Beyond the net hold on losing bets versus payouts on winners, sportsbooks also make money thanks to what’s known as vig.
Every wager made in sports betting has either a positive expected value (+EV), negative expectation value (-EV) or in rare cases neutral expected value. Winning sports betting requires avoiding –EV and finding +EV bets.

That said, I’m going to cover different ways you can make a million through betting and if you should ultimately try this goal.

Simplifying the Road to $1 Million

The easiest way to make $1 million through sports betting is to wager $1.1 million on -110 odds. You can place a standard NFL point spread bet and have a shot at seven figures this way.

Of course, you likely don’t have this kind of money to wager on sports. Even if you did, betting this much on a single contest would be terrible bankroll management (unless you’re a billionaire).

Assuming you’re like the many average joes who bet on sports, then your bankroll is worth anywhere from a few hundred to a few thousand dollars. For the purpose of this post, I’ll assume that you have $1,000 to risk.

The idea of taking $1k to $1 million through sports betting seems nearly impossible. After all, you’ll find it difficult enough to turn $1,000 into $2,000.

Nevertheless, you can eventually turn your $1k into a million in a conservative manner. A good goal is to earn 1% of your bankroll in profits every day.

Obviously you can’t expect to win a clean 1% win each day. Sports betting involves a lot of variance, regardless of your skills.

Nevertheless, making an average daily profit worth 1% of your bankroll offers a simple road to $1 million.

This plan allows you to reach seven figures in 695 days, or just under two years.

You can use a compounding interest calculator to check the math. Just enter the number of days (instead of years) under the “years to grow” category.

Again, your path towards $1 million won’t work out so neatly. But you can see that it’s possible to earn a fortune through sports gambling with both a small bankroll and conservative short-term goals.

What Type of Bets Should You Make?

Parlay bets (a.k.a. accumulators) allow you to quickly earn a large profit. For example, you can bet $10 on an 11-team parlay and win $15,000.

This is still a far cry from a million. However, you could conceivably let parlay winnings ride again and again until reaching $1 million.

The problem, though, is that parlays have incredibly long odds. Assuming you win 50% of your picks, your chances of success with an 11-team parlay are just 1 in 2,047.

As outlined before, you can still reach seven figures by earning 1% of your bankroll each day. Therefore, you don’t need to hang your chances on winning the sports betting lottery over and over.

You can instead make bets with strong odds of winning and collect small profits. For example, you can find heavily favored outcomes with -2000 odds. Implantation geant casino en france. Assuming you place a winning wager, you’d win $5 for every $100 risked.

The catch, though, is that losing one of these wagers can set you back quite a bit. Assuming you lose the aforementioned wager at -2000 odds, you’ll need to win 20 of these bets at the same odds to break even.

Another strategy involves arbitrage betting (a.k.a. arbing).

Arbitrage gambling is the process of wagering on all available outcomes of a specific match to guarantee yourself a profit.

Of course, you can’t wager on all of the outcomes at the same sportsbook. Otherwise, you’re guaranteed to lose when the vig (a.k.a. juice) comes into play.

You instead need to find two or more sportsbooks that differ enough on the odds to where you’ll lock in a profit. You also must wager on these various odds before bookmakers change them.

Here’s an example of arbing:

Boston Celtics -195
Brooklyn Nets +215
You wager $200 on the Celtics.
You need to bet $96.06 on Brooklyn to maximize your arb.
Your profit will be $6.54.

After spotting a potential arb, you can use an arbitrage betting calculator to find the perfect wager sizes.

Cash mania casino slots. Sportsbooks are very aware of arbing. They try moving their lines in near harmony to prevent arbing opportunities.

You also have to worry about sportsbooks limiting or banning your account for arbitrage betting. They don’t appreciate gamblers using techniques that guarantee profits.

Overall, though, arbing is a relatively safe strategy for earning a 1% or 2% profit. In fact, this is the standard profit range that you can expect on the average arb.

One more method of earning a 1% profit each day involves steam moves.

“Steam” refers to when a group of professional bettors (a.k.a. syndicate) all wager big on the same outcome at multiple sportsbooks.

Bookmakers are then forced to quickly adjust their odds to minimize any more wagers coming in on the same outcome. A steam chaser looks for stragglers who haven’t changed their odds, then jumps on the opportunity.

Sportsbooks view steam chasers in the same way that they look at arbitrage gamblers. They’ll ban or limit the account of anybody they think is a steam chaser.

Complications on the Path to $1m

I’ve already covered the challenges in using certain methods to win $1 million through sports betting. But you’ll face even more complications on the road to seven figures. That said, here are some more factors you need to consider before undergoing such a lofty goal.

You’ll Likely Have Many Missteps Along the Way

Whether you arb or make bets with high odds, you’ll experience struggles when chasing a fortune. Again, betting on sports is filled with variance even when you have a proper sports betting strategy.

Sometimes, you go on a hot streak and win several wagers in a row. Other times, you’ll feel like sports betting is impossible.

This up-and-down roller coaster is magnified when chasing a fortune.

You’ll likely experience some major hiccups along the way that will set you back, or even convince you to give up this dream.

You May Get Bored With the Process

Winning Sports Betting Systems

The idea of being able to win $1 million dollars in 695 days sounds amazing to the average person. But it becomes a long grind, especially after several hundred days.

Combined with the likely missteps, you may get extremely bored with going for small short-term profits. You might even place larger wagers and take shots at extra winnings.

Of course, deviating from your plan is counterproductive to meeting such a big goal. You may end up losing a very important wager and give up all hope.

You Still Have to Be a Successful Bettor

The main point of betting systems is to circumvent the house edge or make up for a lack of skills. The Martingale, which calls on you to double bets after each loss, is a perfect example.

Using a 1% daily profit model to earn $1 million i