I don't really know much about sports betting but I do have some friends on Steem that do this regularly. I highly suggest you check out @costanza as he is the founder of @sbcbot, a community that helps sports bettor grow.
That account also resteems all sports betting content created on Steem so someone like you who is into sports betting should look into it. XD
As for your original question, YES! it it possible to make a profit just on betting. I've looked into some of their monthly charts and some of their members have been consistent on earning some profits.
If you are lucky then it is possible. How much luck is in favor of you that nobody knows. Unless you bet in reality, you are not going to know how lucky you are. So in a quest of that some people go for betting in sports and once they start winning some money, they usually do not stop with the earned money and they continue betting further and finally exhausted with whatever they have. So it is like an addiction. There are two results here, either you win or lose. It does not have provision like HODL and once the result of sports is out, either you will be in the losing side or in the winning side.
Betting is a not healthy thing for all types of people and unless you have surplus easy money to toss up in air, you should not bet in sports. If you are already in to that and already have won some amount, do consider that as holy and cash it out, because that is not the ultimate truth. You should withdraw at your good time in betting. Most wise people do like that.
Yes, it is possible, many people are betting and earning but many are also betting and loosing. This is like the lottery or almost like the lottery.
You have to take into consideration many variables and make some calculations. Some are making probability calculations, some just bet as they think best.
However, it's still a gamble, no matter what you do or how you do it. Even if you pick the best team with the best chances, there's a choice you loose.
Yes, it's totally possible. But you have to be an actual expert on the sports that you bet in. I know one guy whose turnover is millions and who makes a secondary income equaling that from his day job. His sport is ice hockey. He knows the NHL inside and out. This guy is also adept at probability calculus. Professionals or semi-professionals get paid by people who bet for fun, most of whom have no real understanding of the sports.
Yes it is possible to make a living off it if you have inside information. I know horse riding is basically an insider sport and is mainly fixed. The rich get richer as such on this one.
You can win a fortune on sports but you can also lose a fortune. Bookies make money as they cover their odds with other bookies. It's a bit like crypto trading only bet what you can afford to lose.
I bet every now and then and only when I am certain of a result will I bet. About 15 years ago I placed a bet on a game of rugby calling it a draw. It was a final and I was certain as finals are played differently. It went to extra time and ended in a draw. I only got odds of 18 to one but was happy with my winnings.
Yes! It is possible. But the gambler in question has to realize the betting is gambling. Gambling is based on probability in the sense that you either win or loose. It is best to follow up a particular game or sport before having to bet on it. But if you rely on what someone predicts for you, then you will have to understand the fact that you are dealing with luck.
Predicting outcomes in games is just a matter of luck and probability to me.
One who wants to gamble should use spare money to gamble and not money for a serious event.
Earning through betting is possible if you predict accurately and then turn out to be lucky.
You need to do a lot of research to make money betting on ports. You will lose it all if you try to go with your gut alone.
It's possible, but you need to analyze all factors from the sport clubs to know who will win / lose.
You can search match betting. There is tons of info on that.