Does your hobby make you money?
More and more Australians are turning to sports betting to combine their passion for sports, with their entrepreneurial mindset.
Even if you’re not looking to supplement your current income, betting on sports can add a fun, interesting, and fresh take on a pastime you hold dear.
So, what are sports betting?
When you place a bet on the outcome of a sporting event, this is known as sports betting.
Many people think that sports betting is just guessing who wins a game, but it is actually way more complex. For example, in a basketball game, you can choose to bet on who wins, by how many points they will win, what the exact scores will be, who will shoot the first basket, how many fouls a certain player will get, and many more aspects.
Sports betting is rapidly gaining popularity all around the world, to the point that it accounted for more than a quarter of all Australian gambling activity in 2017.
Once limited to sports bars and live events, sports betting has been revolutionised with the option to bet online. With a rapidly expanding range of apps and websites that offer sports betting services, it is easier than ever for Australians to bet on their favourite sports. No matter if they are on the train or waiting in line for coffee, they can bet wherever they are.
As the betting industry has continued to grow, a number of betting agencies have emerged that provide users with different sites to place bets.
Do you have a favourite sport? You just might find it can become every bit as profitable as it is enjoyable.
Sports Betting Statistics
Think sports betting is just a hobby?
Check out the following stats and figures to show just how much the sports betting industry has grown through 2019.
- In 2015, well over half a million Australian adults (574,000) were estimated to have regularly wagered on sports.
- Sports bettors were overwhelmingly male (88%), aged between 18 and 49 (75%), and working full-time (70%).
- Australians aged 35-64 and those from NSW and Victoria most likely to bet
- Racing – whether horse racing, harness racing or greyhound racing – still commands nearly 75% of the Australian betting market.
5 Benefits of Sports Betting
1. The Entertainment Value
The entire premise behind the professional sport is to provide entertainment. Just watch a football game. From the music to the half-time show, everything is orchestrated to make the experience more enjoyable for the fans.
Sports betting leverages the already entertaining nature of sports events and adds another aspect.
Close games that were already exciting are taken to the next level by placing a personal stake (money) into the game. Now the outcome of the event that was only relevant to you because of your enjoyment of the game can actually impact you, and the adrenaline and excitement come into play at a great scale.
The broad range of sports betting may also build your interest in other teams and sports, expanding your sporting horizons and exposing you to new channels of entertainment.
According to the team at Wellbeing Health Retreats, specialists in health and mentality, it is important to have an entertainment source as a stress outlet. This can help you enjoy your time sports betting more, without falling into bad habits. They note, “the reason why things like Netflix and computer games are so popular, is because of the positive energy it gives you in response to relieving stress and anxiety through it. Finding a source of entertainment that suits you is critical to good health”.
2. Complement Your Income
The harsh reality of adulthood is that the things we enjoy cost money. Whether it’s kickboxing, art class or surfing, hobbies can add up in cost.
While it’s not guaranteed to earn you money, sports betting is a hobby that does provide you with the potential of gaining some extra cash.
The ability to earn money is a very powerful psychological trigger. The team at Emotional Health Counselling, who are qualified hypnotherapists and counsellors, highlight the importance of having ‘small wins’ in your health, saying “when you lose repeatedly, it really damages your self-confidence. This is one of the most dangerous things that can happen to you as it reflects in almost everything you do. Including your performance at work, your interactions with friends, and even the way you communicate with your family. This is why small wins like the ones in sports betting are a good way to boost morale and are healthy if done in moderation”.
If you know a lot about the sports you are betting on and the players in the game, then it is likely that you will be more successful. Of course, you can’t predict everything and will lose money sometimes. But if you are patient, rational and observant, it is possible to turn a profit from sports betting, all while enjoying yourself.
Of course, it is always important to set your limits and stick to them. If you don’t let yourself wager more than you can afford, then you will likely be okay. Remember that sports betting is for entertainment, and if you are lucky enough to generously supplement your regular income, then that is a bonus.
3. Cost-Effective Fun
Do you, or anyone you know, go to regular yoga classes?
Some classes can cost as much as $20 and by going multiple times a week, this can really add up.
WIth careful self-management, sports betting can be an affordable source of entertainment. And, with the accompanying research, game watching and planning, one bet can cover many hours of entertainment.
In fact, the team at Gary Hamer Interior Design explains how affordable home entertainment is for sports betting enthusiasts, saying that “everyone has a TV at home. Whether you build an entire man cave or convert your living room into a small bar and sports betting zone on the weekends, it’s one of the cheapest ways to entertain at home”.
Of course, it can be a lot more fun to win than lose, so keep yourself in check and identify if losing regularly is affecting whether or not you are continuing to enjoy sports betting.
4. Super Convenient
All of us have something that we love to do just for fun. I’m sure something just popped into your mind, right?
But what is involved in actually doing it? Do you need to travel somewhere, or buy special equipment to use each time? Could you do it while
The reality is that many hobbies cannot be done wherever, whenever.
Not sports betting though. With the ability to bet on your phone, you can place bets and enjoy your hobby wherever you are. Live-streamed sports games take that even further and allow you to enjoy all the perks of your bet whether you are walking the dog, waiting at the doctor or at home in your PJs and don’t want to leave the house.
5. Getting Started Is Super Easy
Many hobbies require a great commitment to get started. If you want to join a volleyball team, you will need to find other players, pay registration and game fees, source and buy team uniforms, organise training and attend games.
For a busy person like yourself, it may be difficult to dedicate the time, money, and resources required. Sports betting requires very little time or money commitment, and the only equipment that you need is your mobile phone and an internet connection—both of which you probably already have. You can also choose however much you want to spend on sports betting as a hobby and are not locked into anything.
And with such a wide range of sports betting providers out there, the hardest thing you will have to do to get started is deciding who to go with.
Just begin by comparing sports betting agencies and finding one that suits you.
And remember, always bet responsibly.