There are two main ways to make money with sports betting: Doing simple bets (Punter) or doing trading.
A punter studies the game, places his bet and waits until the end of the game to know the outcome of his bet.
A trader places a bet considering the variation the odd will suffer so he will be able to win money, not with the outcome of the game, but with that odd variation. Once the trade is concluded successfully, the trader will win money whatever the final result of the game, therefor eliminating the risk of the game’s final result.
However, before learning how to be a trader, first it’s necessary to win money with simple bets (punter).
Although we can place simple bets at any bookmakers, trading it’s only possible at a betting exchange, like Betfair.
In the first video there’s demonstration of the two techniques, with the differences between punter and trading.
In the second video the advantages of trading as means to have profit with the least risk are shown.