There is a big market on the internet for Betting Tipster Services and a lot of people are willing to pay money to receive picks that they believe will make them money. Unfortunately, it can be extremely difficult to actually earn money from these paid services because of multiple factors. I tried them out in the past myself but it actually rarely worked out because of multiple reasons...
1. Random Results
Blogabet is one of the bigger websites to track and verify your betting record and you can potentially sell your picks on. The website has been operational for over a decade and I actually started out there myself before I was contacted to join a private forum over 10 years ago. Currently, there are 27699 tipsters on the platform. When having these amounts of members, looking at the results it is inevitable that many will absolutely crush the bookmakers purely based on random luck alone. If 27k monkeys would make random predictions, some would be perceived as being great at it and many more would get crushed while in reality, they all are exactly the same. This is one of the first major pitfalls that have to be overcome in order to find an actual good paid service.
2. Service Fees
Paying money in order to get bets in return pretty much instantly lowers your potential return. So even if it was possible to 100% copy the bets from a service, you are always doing worse by default because the service fee needs to be taken into account. Most services are highly overpriced when actually doing the calculations based on a realistic expectation combined with proper money management. (I might make a separate post on this once day calculating the needed bankroll in order to justify the subscription fees if anyone is interested in this.)
3. Dropping Odds
The betting markets have a limited amount of stakes that can be bet on specific odds. Once these are taken, the odds usually drop a bit. If a service actually provides high-quality bets, it is more likely that it attracts more buyers that all put pressure on the market when the bets are released. This makes it most of the time a question of which subscriber to the service gets in first making it often impossible for others to actually take the same odds as the betting service which again cuts into your own profit margins.
4. Smaller Limits
The way the betting markets work is that smaller league tend to be a lot easier to beat with a cost that they can't be taken with bigger stakes and a tiny amount can crash the odds. The better performing services often are covering smaller leagues or use bookmakers that limit winning players like bet365. This often brings a conflict where the price that needs to be paid for a service is difficult to be recovered because the bets don't allow the stakes needed in order to pay for the service and make a profit on top. All this is based on expected profit that can be made.
5. Need To Be User-Friendly
When running a service, it is needed to make it friendly towards the subscribers. This often means posting the bets at a fixed time of the day. These things make betting and beating the market a lot harder compared to being able to take bets whenever you want regardless if it is when the odds are released at lower limits or just before kick-off at the moment important team news is released. Serious services also often need to wait for the bets to have higher betting limits. These are all small things that make a difference between beating the market on your own or providing profitable picks that add up.
6. Pressure Running a Service
Many try to start a service but turn out not being able to handle the extra pressure of having to perform that comes along with it. Often there is a first great year, more subscribers join with high expect expectations with something of a mental collapse from the tipster. This kind of pattern is seen over an over again.
These are just some of the factors why it is really difficult to actually make a profit being subscribed to a paid betting service. Most of the time they are also run by people who struggle to actually make enough money on their own bets as a way to get some potential fixed income. There are countless amounts of people and services who sell picks on the internet and only a select few of those will actually deliver if you are willing to be behind your pc when the picks come through. They certainly do exist and it is a skill being able to identify them. I do believe the vast majority will end up costing subscribers money though.
Crypto Blogging Platforms Solution
When I first discovered Steemit and the concept where upvotes can have a value attached to them, I quickly saw it as a potential solution for many of the sports bettors who are looking for a way to make a little bit of extra income from their activities. Currently, everything is open and free for the world to see on Steemit and Scorum. If there was a way to make posts private unlocking them with a specific upvote amount it could be potentially a perfect way to revolutionize the paid tipping industry the way I see it.
One of the struggles these platforms face currently is that "free upvotes" are very hard to come by. People are just not willing to power up just for the reason to reward content they enjoy. If powering up would come with an ability to unlock betting tips or info very similar to how blogabet works, this would be a great reason to both hold SP for the ones that look for content and the ones that provide info to increase their overall content quality.
For now, this is all just a dream though. With the (hopefully) soon to be released Betting Exchange on Scorum, the SBC plans to support and onboard more people who are looking to share their bets on the blogging platform and actually use the betting exchange including a 5000 SCR Giveaway soon to be fully announced!
Please let me know your personal experiences with paid betting services in the comments.