Betfan is a way of making consistent profits as long as you do your homework.
As you know, my preferred ways of making money from sports is through techniques that I have been using for a few years now, mainly matched betting and betfair trading. If however you are looking for a regular return on investment from outright sports betting, then Betfan is the best place to go.
Betfan is a website dedicated to providing sports betting tips, but unlike most sites, Betfan actually proof the results on your behalf, therefore acting as an independent adjudicator for the tipsters.
So to cut straight to the point on whether you can make money from Betfan, the answer is yes you can. With that said though, there are some things to consider to make this possible. Let’s find out more…
What is betfan?
As mentioned already, Betfan acts as an independent site to supply tipster services for all sports such as horse racing, football and tennis. Just from signing up to the website you can access free tips from a wide range of tipsters, however once signed up you can then also access the proofing for the paid tipsters.
There are a wide range of tipsters on the site offering different betting options, such as each way betting, outrights, multiples and lay bets. If you have a preference for any of these methods then maybe that’s a good place to start, however if it is ROI you are after, I will explain how to find the best service for making money.
How to find a profitable Betfan service
I really like Betfan, and there is without a doubt money to made from using the service correctly. I do however have a watch out… do not buy any service based on marketing emails that you receive from them!
Betfan send regular emails shouting about the tipster that is currently performing well, and not necessarily the service that has been consistently delivering ROI over a sustained period of time.
You can’t blame Betfan for wanting to advertise their products and generate as much income as possible, however I have made some bad buying decisions through getting excited by the latest top performer.
If I told you that HSBC shares had risen by 20% today would you buy them? no, of course not, that would be daft. Like any investment it is advisable to look at past form and trends, and make an informed decision, not just on how they are performing today.
To find a long term profitable service, first of all go to the ‘Tipster Champion’ section of the site, where the top performing tipsters are listed. You will note that the current month’s performance is listed, but as mentioned, I would never make a decision based on current form only. Follow these simple steps to finding a profitable service:
Look for consistent top performers – Look at ‘last 3 months’ performance and make a note of the top 5 tipsters on the list. Then make a list of the top 5 tipsters who appear in the ‘last 6 months’ list, then do the same for ‘year to date’ and ‘all time’ lists.
By now you should have a good idea of who the consistent top performers are, but more importantly who has form this year and last year. I personally wouldn’t select a tipster that was having a bad year compared to last year, but I might take a closer look at a tipster who is having a better year than last year.
Look at the trends – When you click on the proofing button, you will see the ‘all time’ performance chart, and checking this is crucial for your success. Unlike matched betting and betfair trading, sports betting will require you to have a mindset of accepting losses regularly.
We are only going to pick a consistent performer that will bring long term ROI, but if you will be affected by daily losses, you need to think carefully about the service you follow.
For example, here is a chart that shows you will make long term profits from this service, however between December 2017 and August 2018 you would have made a £2000 loss against advised stakes!
Now, if you can be resilient during that time, you would reap the rewards as the next month you would have grown your bank back and recovered £4000!
Could you handle placing 2 or 3 bets a day for 9 months for a £2000 loss? or could you handle placing 2 or 3 bets a day for 10 months for a £2000 profit? which mindset would you have?
I’m not saying that you shouldn’t follow this tipster, however this isn’t for me. I know that although I believe in this service and the ROI potential, losing bets for 9 months is not for me. I would rather have smaller wins and less losses like in the graph below.
Now to be fair this service has been going a longer period of time, but the losing periods are smaller than the previous example. What I like about this service is that it has been consistent for longer, as per my first piece of advice. It is still really important to check the losing periods and ask yourself if you are prepared to withstand the losses.
Have you noticed that for three years in a row, the February to April period is constantly negative for this tipster? well maybe you might want to take a break every spring and save yourself the stress. Just a thought.
Understand the proofing criteria – this is a crucial step to the selection process and must not be missed. It took me a while to realise some important factors that I was missing, and once I understood this, I started making money from Betfan.
For this part you need to have the proofing graph open, and for the explanation I am going to use the previous example to demonstrate this important step in the process.
The chart we look at previously showed a really good progression of profit over time, but what we now see is some drop down boxes above the chart and the one of importance is the one in the middle.
The chart was defaulted to show BOG, which stands for Best Odd’s Guaranteed.
Let me quickly explain BOG in order to make this bit relevant. BOG is where the bookmaker will pay at the bigger odds if the price it runs off at is bigger than the price you took. However if the price went shorter, the tipster is going to record the price that they advised you take when the tip was sent out.
With that in mind, you need to be confident that you can get on the advised odds by backing the horse straight away when the tips are sent out via email.
It also means that you must place your bet with bookmakers that offer BOG, and definitely don’t use the betting exchanges! I was always using betfair for my bets and wondering why I wasn’t getting the same chart as other people. This is why!
So, what I would now do is select SP, which means ‘starting price’, therefore the price you will receive if you back the horse at the last minute before the race. Look what happens to the graph when we select this!
Have you got £3000 to throw away over 4 years? no, I didn’t think so!
To ensure that the advised odds will actually provide a profit, you will need to do a final check and select ‘Advised Odds’ from the drop down. The good news is that for the example we used, their graph returns back to the graph we saw earlier.
What I have learned here is that I must place the bet at advised odds or/and use a BOG bookmaker to place my bets. Now there is one other problem that I have encountered, which is that some tipsters seem to post advised odds that seem to drop as soon as they send an email.
Unfortunately you are going to need to sign up to see if this is something your qualifying tipster does. If they constantly post advised odds that you never seem to be able to get on, drop them and move on to the next service.
I have now managed to find a few really good services where the odds seem close to what is posted, and therefore I trust that the proofing stacks up.
If you have read this article and are still interested in sports betting then using Betfan is the way to go. just make sure you have done your homework and are prepared to accept losing periods every now and then.
If you are risk adverse and would prefer a risk free method of making money from sports markets, then I suggest reading our article on no risk matched betting. If you prefer bigger returns for a relatively small risk ,then I suggest you check out our guide to betfair trading.
I have picked out some of my favourite tipsters from Betfan having used the process I have explained. You can also see how much you would have made from following each tipster so far this year.
Lucky 7 Naps
ROI – 28.81%
Total Points – 1360.57
Profit (£10 stakes) – £13605.70
The Honest Tipster
ROI – 16.11%
Total Points – 397.38
Profit (£10 stakes) – £3973.80
This service has only been going for a few months, however the stats are as impressive as I have seen on Betfan.
ROI – 116.42%
Total Points – 1454.21
Profit (£10 stakes) – £14542.10