How Do Betting Tipsters Make Money?
The question of how do betting tipsters make money is a popular one, and the first thing you need to understand is that betting tipsters fall into different categories. TV pundits can be classed as betting tipsters, as can sports journalists, and even the people that write blogs for bookmakers. There are also betting tipsters that bet on their tips to make a living, as well as tipsters that offer their betting advice via subscription-only service.
TV Pundits come from a variety of different backgrounds. Some are ex-sports people such as jockeys, football players or golfers. Others are presenters whose grounding comes from working in TV but who have developed an encyclopedic type knowledge of sports such as horse racing, football or golf.
Following the advice of TV pundits turned tipsters can often be a good source of winners, but it’s worth remembering that these types of tipsters earn their money by being good in front of the camera – and not by betting.
You don’t get a job as a sports journalist unless you have a great knowledge of the sport or sports you write about, and many newspapers print regular betting advice. Newspapers such as the Sun, Daily Mail, and Telegraph mainly stick to football and horse racing tips, while the Racing Post also offers betting tips for those sports as well as many other sports such as cricket, rugby, tennis, and more. Some newspapers also specialize in betting on one sport.
Sports journalists may well boost their incomes by following their betting tips, but they also get paid their wages whether their tips win or lose. This means they may not have the same high levels of motivation to succeed as some other betting tipsters.
You’d think that bookmakers wouldn’t want their blog writers to be too successful and, while many of them aren’t, these types of blogs do provide plenty of winners. The principal that bookmakers work on is, if you do back a winner on the back of that advice, you’ll continue to follow that tipster. Without a proper staking plan in place and regular solid advice, you’ll probably also have other bets with them.
Bookmaker bloggers also don’t need to be great tipsters, as the bookmakers are only too willing to pay them money for well-written articles that will keep punters coming back for more. For this reason, bookmaker bloggers don’t need to show the kind of investment that punters paying for tips expect for their outlay.
Being a pro punter and living off betting alone is the ultimate dream of anyone that is a good tipster, and it’s often this type of punters that raises the question of how do betting tipsters make money?
But established pro punters find it increasingly difficult to get big bets on the horses they want to back. It’s not that hard at big meetings where there is lots of money for lots of horses, but it’s much harder at say Southwell on a cold wet Monday afternoon in December.
Because of this, many pro punters have had to come up with new ways to try and get their money on. Some have betting partners that put money on for them. This can be for a small percentage of any winnings, or by putting a little something on for themselves.
The betting exchanges were also a big help to professional punters when they first came out, but even these have started to take a bigger percentage of the big-players winnings.
That’s why many pro punters have started to offer their betting tips as a subscription-only tipster service. This means rather than trying to get lots of money on themselves, they can get paid for their knowledge by punters that will get their investment back by betting on their tips.
Subscription-Only Tipster Services
If you’re wondering how do betting tipsters make money from subscription services, it’s quite an easy concept. Basically, a tipster offers his tips for an agreed weekly or monthly fee. Punters then receive the tips at an agreed time, either the night before or the morning of the races the tips are for. A good betting tipster also has an established staking plan that they can use to increase the size of bets according to the value they offer.
For example, a 1-point bet may be £10, 2 Points £20, and 3 points £30, etc. A good tipster service will also recommend you start with a betting bank based on that points system, to allow for the types of up and downs that most tipsters go through. This encourages profit-making with a long-term view, rather than get rich quick merchants.
As punters pay weekly or monthly for this type of service, the tipsters that run them are motivated to produce good results to keep punters subscribing. If they don’t punters can easily cancel their subscription and go elsewhere, a disaster for tipsters that earn a big part of their earnings this way.
If you’re thinking of subscribing to the services of a betting tipster, make sure they offer their services through a respected and well-established tipster website. A site that vets their tipsters for a period of six months and continues to monitor their return on investment, profitability, drawdown, consistency, and reliability.
This is a good relationship for both tipster and punter. As the tipster no longer needs to get so much money on himself, his bets are less likely to get flagged by the bookmakers.
Tipsters also get access to an expert’s knowledge for a small cost, saving them hours of studying time. These services are also often much cheaper than say the yearly price of established betting papers. The tipster also provides a more disciplined approach to betting, with the staking plan and number of advised bets decreasing the temptation to bet wildly whenever you feel like it.
We hope that’s answered your question of how do betting tipsters make money.