Betting on sporting events at 22Bet has become an integral part of the industry. For many fans, this hobby is simply part of their lives. It is now considered proven that as a professional betting expert, you can earn a living from sports betting or at least secure a nice additional income on a permanent basis. This has nothing to do with chance, but is the result of thorough research and consistent adherence to important principles.
People who earn sustainable money with sports betting are characterized by important skills: in addition to the necessary discipline and specialist knowledge in the field of sports, a good feel for numbers, efficient betting behavior and, of course, outstanding skills in making forecasts are literally worth their weight in gold. Conversely, there are also professional fields that come very close to these key qualifications, which is why the question rightly arises as to which professions give you a head start if you want to bet successfully. We get to the bottom of this question in this article.
Attention students of mathematics, statistics and economics!
Sports betting always has something to do with numbers and probabilities. But market mechanisms also play a major role. Anyone who thinks about the law of large numbers, dynamic betting odds and investment behavior has the necessary know-how to know that a single bet is not decisive for one’s own success, but rather the betting behavior as the sum of all individual decisions over a long period of time. Mathematics and statistics courses provide you with this kind of knowledge. Mathematicians and statisticians learn in their training how probability distributions are composed, they learn about the independence of empirical events and about central limit theorems, which can also be applied to the betting market. Of a more theoretical nature, but no less interesting, are the lessons of economics. Adam Smith’s invisible hand of the market, for example, states that an efficient market with a complete distribution of information reflects the true prices of a consumer good. If this is applied to the betting market, then an efficient betting market will yield the true betting odds and thus the implied probabilities of events occurring.
Elements of behavioral economics and business psychology also play a major role here. If the participants in a (betting) market overvalue a certain good (or event), this is reflected in the price (odds). The other side is underestimated and betting odds can thus be identified. There are certainly other contents of study programs that betting experts use, such as important key figures from business administration (investment theory, calculating the return on investment, conversation rate) and overall, successful betting on events logically also takes place at a high level. However, it is certainly possible to operate effectively on the betting market with the right tools.
Professional groups from the insurance industry
If you take a look around the job market, you will notice that a large proportion of economics and mathematics graduates work in the insurance industry. There is a reason for this. Large insurance companies work with data, facts and figures to embed people with certain socio-economic structures in a forecasting model.
Private health insurance is more expensive for older people, people with unhealthy lifestyles, smokers or people who are already ill than for younger people because the available database predicts a higher risk of high costs for the company, which in turn should be offset by higher premiums. Age, gender, occupational group, social situation and individual attributes therefore play a role in determining whether an event occurs or not and are thus considered significant influencing factors. Anyone who has internalized such facts can also apply this to sports betting. Does the weather, a certain referee or another conceivable scenario have a non-random influence on an event? If so, good betting odds can be identified on the betting market with such a way of thinking.
Professional groups in the financial services industry
Economists, statisticians and business economists are welcome applicants in the financial services sector, as they understand how the financial market works and can use their expertise to make well-founded forecasts about future events. They also think about the value of a financial product such as a share. Logically, these skills are also required for sports betting, as distinguishing good betting odds from bad betting odds is a key factor in deciding whether or not to bet on a particular event. Investment funds are most likely to invest in products, services and companies that they believe will yield the highest or safest returns in the future. A similar betting behavior is conceivable with sports betting. If betting odds are far too high or if there are certain types of bets that occur disproportionately often, then such investments should be considered analogous to activities on the financial market. Anyone who has understood this logic and works with it day after day in their own profession will be able to act in a similarly structured and unerring manner on the betting market.
