As time went on, wagering grew from something that was fringe and frowned upon into a perfectly acceptable source of making additional revenue. A side hustle, you may say.
Yet one question still lingers: "How much money can you make on it exactly?" This article will try to answer this meaningful question in proper detail. It will also give you an assessment and a general idea of the estimated monetary gain from a single bet by reviewing some of the data from the biggest Nigerian gambling platforms.
So, what are the variables that determine the winning amount?
They are as follows:
- Initial investment
- Skill of the punter
- Time spent
- Reputability of the platform
Let us discuss each one of them in detail.Initial Investment
It is common knowledge in the world of investment that the more you put in, the more you gain. However, if we are talking about wagering, this is most certainly not the case. Well, sort of. Let us clarify. It will be quite a benefit if you are able to stake a good amount of money, but unlike, say, stocks, the regulations here are more lenient and the market itself is highly unstable. But you know what they say: chaos is a ladder, and if you are able to climb it, you are bound to profit. Back to the point, though, betting is more of a level playing field when it comes to the sum of the initial investment. You can certainly make a nice quick buck with as little as $1, if you are skilled and lucky enough, of course, but investing more will most certainly not hurt.Returns
In terms of returns, wagering offers some of the highest ROI’s in the whole investment world. It is one of the few places where your returns will quite often exceed 100%. This rate is tied to the already mentioned fact that, with a bit of luck and careful research, you can easily turn a dollar into a hundred or several. The sky's the limit. It is not unheard of in stocks or real estate, yet betting will almost always see it come to fruition quicker than the others.
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Although dumb luck may seem like a defining variable in the betting business, it is not really the case. The industry might be chaotic, but it is still subjected to the laws of probability. In order to succeed here, you, like in every investment affair, should have a keen mind, able to make sense of various data sheets, statistical data, and so forth. Obviously, mishaps are bound to happen here and there, but they are pretty insignificant in the grand scheme of things. Analysis of the market is what makes or breaks the punter.Time
Like in every ordeal, betting does require lots and lots of time to sink into it. You will need to learn a lot, calculate even more, and involve yourself in the sport that you choose to wager on. It may take hours of practice, but it will be worth it. A proper punter should always know what he’s doing as well as why he is doing it and if it is even worth it. So be prepared to spend your time looking through sheets of data and every piece of news on teams, players, and leagues available. And don’t forget that practice makes perfect. Simply betting more will result in the increase of your skill, so it is highly advisable that you put the time and effort into the process of wagering if you indeed want to see some progress and actual returns.Reputable Bookmakers
This variable is often overlooked by many, but you must be sure that the sports book you pick to bet on is honest with its clients and gives accurate predictions and fair odds. It is not so hard to pick the right bookie; there are numerous lists of reputable ones available online. Moreover, usually, the bigger the company, the better its services. So, by choosing one of the biggest on the market, you will be safe and sound.Summary
Now, it is finally the time to address the elephant in the room. How much can you make? Well, it depends. But let’s imagine the hypothetical situation. You have $100 available. You are new to the whole thing, but have reasonable analytical skills and all the data available. You have a good 10 hours a week to put into betting and, as a platform of choice, you have decided to pick 1xBet. How much will you make?
Well, in this specific situation, you can expect to make around $600 from the week of playing. Sounds nice, isn’t it? Yes, sports betting can be very profitable if you know what you are doing. And if that is indeed so, why haven’t you tried it out yet?