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Does anyone here makes a living off sports betting I make my living gambling, but sports betting is just a fun hobby. I don't have the time or inclination to try to turn it into a consistent profit maker, although between recreational capping and knowing good cappers, I have been able to make money more years than not. how can you make money betting on sports? | Yahoo Answers it seems that you can only make money betting on sports if you bet on the underdog and then the underdog pulls an upset and wins. If the odds are -800 and you bet on the team most likely to win then if you bet $100 then you only win $12 - whereas if you bet on the potential loser and they pull off an upset then you can win $500 if they are +500 odds. Legal US Online Sports Betting Sites for 2019 Currently as a US based online sports bettor you are legally allowed to gamble online within the Nevada, New Jersey and Delaware State boundaries. The two licensing commissions who oversee online gambling in those jurisdictions are listed below, for more information please follow the respective link.