Imagine if you could follow several tipsters at once, without having to place a single bet yourself and better yet, only pay when you make a profit.
I recently came across Betmarkets, a platform that allows you to do just this. It enables you to copy professional bettors and automatically place the same bets as they do.
The process starts with creating a free account and funding it, then you can start choosing which tipsters you would like to copy.
You can filter through tipsters by risk/return level and then simply allocate a set amount to each one you choose.
From then on, everything else is taken care of by the Betmarkets service. All you need to do is check back periodically to see how much profit you have made.
I have set up my own portfolio to try the platform out and I have tried to make it diverse, covering a variety of sports and risk levels.
Bettors can be added or removed from your portfolio at any time, so you are in complete control in this area. They each have predefined sports so you can choose to bet only on specific sports if preferred.
The full history for each bettor is available to view and performance is also shown as a graph to make it easier to see how they are doing at a glance.
You only pay fees at the end of each quarter, providing the bettor made a profit. This is set at 20% of the profits, so you keep 80%.
Betmarkets work with several betting providers to make sure bets are placed at the highest odds available. Think of it as being similar to a social investment platform, such as eToro, where funds are allocated to traders to copy their positions.
I have picked 10 tipsters to copy, allocating €100 to each of them. I'll be monitoring their progress and come back to your with an update on how I'm getting on with the platform next month.