Are sports betting winnings more like active or passive income, and why?

[Darker45]

~snip~

but there's still a luck component
even if you analyze every variable available, you can't predict the future, no one can
sometimes the underdog wins
sometimes the favorite loses
and this is what makes life good to live

Of course. You can't entirely eliminate luck. Even your life depends on luck in one way or another. But what I'm saying is that luck isn't the main thing that matters at least as far as sports betting is concerned unless, again, if you are just randomly picking your bets. Unlike slots, roulette, dice, and similar casino games which are entirely dependent on luck, sports betting is different. Underdogs may win, but it is the exemption rather than the rule.

[danherbias07]

I agree. There's no passive about it. Not the same result will happen the next day even if the same team will play against each other which means a different outcome will inevitably happen if we are not careful with our bets. So yes, we cannot call it a passive income because there's no assurance that we will win repeatedly.

Collecting data and checking records and history had been a difficult thing to do just to increase the chance of winning. Other gamblers are just relying on the odds given by their bookies and mostly would just bet on the favorites but there are those who will go against the flow because they have the data to back up their claim that the other team or player will win.

[Litzki1990]

I am successful now with sports betting because I bet my money on those matches where a strong team and a weak team face each other. The longer I have been gambling with this strategy, the more success I have had. Maybe gambling with this strategy requires me to bet more money and my profit is less but there my money is risk free. I gave up expecting high profits long ago because as long as I have high profit expectations I only lose my money. If a minimum amount of money is lost from my total money then it is bad for me but if a small amount is added to my total money then it is profitable for me. You can gamble with my strategy if you want but before that you need to know about sports and have enough idea about which team is strong and which team is weak.

[Pandu Geddon]

I am successful now with sports betting because I bet my money on those matches where a strong team and a weak team face each other. The longer I have been gambling with this strategy, the more success I have had. Maybe gambling with this strategy requires me to bet more money and my profit is less but there my money is risk free. I gave up expecting high profits long ago because as long as I have high profit expectations I only lose my money. If a minimum amount of money is lost from my total money then it is bad for me but if a small amount is added to my total money then it is profitable for me. You can gamble with my strategy if you want but before that you need to know about sports and have enough idea about which team is strong and which team is weak.

even though you are successful with the strategy you use in making bets, I think the increasing winning results or even you get them consistently are not good for you to consider as passive or active income. just think of it as a profit from the game that you can play continuously. if there is a bigger win and it will not be consistently obtained then a small win may be more frequent with your strategy. it would be better to think of it as bonus money that you can enjoy to have fun.

not a problem for gamblers who end up making gambling their passive or active income. because in fact there are gamblers who regularly bet every day to make a profit. it will not be a problem as long as the gambler enjoys it and there is no pressure on him to always get a win. minimizing the risk of loss is also part of the playing strategy.

[betswift]

I agree. There's no passive about it. Not the same result will happen the next day even if the same team will play against each other which means a different outcome will inevitably happen if we are not careful with our bets. So yes, we cannot call it a passive income because there's no assurance that we will win repeatedly.

Collecting data and checking records and history had been a difficult thing to do just to increase the chance of winning. Other gamblers are just relying on the odds given by their bookies and mostly would just bet on the favorites but there are those who will go against the flow because they have the data to back up their claim that the other team or player will win.

I agree that it's totally not passive income. It doesn't work for you, it's more like you work for your hobby

[CryptoHeadlineNews]

Therefore, I believe that sports betting winnings should be classified as active income, similar to trading or commerce, which involve both risks and the potential for profit or loss, like in any business.

This is only my point of you... what do you think

What is an Active Income? An Active Income are those income whose payment are  fixed, and comes regularly, of which an individual is 100% sure that he/she will receive such payment within a stipulated timeframe weekly timeframe or monthly basis, depending on the type of work.
Whereas,
Passive income are incomes whose outcome are not always constant constant, but thou, it serves as a means of earning extra income through luck and skill which happens to be a 50/50 chances, just like gambling, which is why gambling is referred as a perfect example of a passive income generator.

[betswift]

Therefore, I believe that sports betting winnings should be classified as active income, similar to trading or commerce, which involve both risks and the potential for profit or loss, like in any business.

This is only my point of you... what do you think

What is an Active Income? An Active Income are those income whose payment are  fixed, and comes regularly, of which an individual is 100% sure that he/she will receive such payment either within a stipulated weekly timefarde or monthly time frame.
Whereas,
Passive income are incomes whose outcome are vested base on different factors. That is, the amount received in this kind of payment are usually not fixed,  they are not fi




What are passive income? Passive income

Your post got a bit swallowed but I agree, active income is when you work via a fixed amount both in effort or in time and get something for it. Passive - when your funds work for you, basically.

[Dewi Aries]

but there's still a luck component
even if you analyze every variable available, you can't predict the future, no one can
sometimes the underdog wins
sometimes the favorite loses
and this is what makes life good to live

Of course. You can't entirely eliminate luck. Even your life depends on luck in one way or another. But what I'm saying is that luck isn't the main thing that matters at least as far as sports betting is concerned unless, again, if you are just randomly picking your bets. Unlike slots, roulette, dice, and similar casino games which are entirely dependent on luck, sports betting is different. Underdogs may win, but it is the exemption rather than the rule.

For me and from my rational point of view it is clear that there is a difference between sports betting and some types of casino games like roulette, craps and slots that you mentioned, and it really depends purely on luck. And I also understand that sports betting is more profitable when someone has very good skills and knowledge, but maybe I will mention that it does not mean that you will always be able to win when the game is over.

It might be more accurate to say that skills and knowledge are nothing more than tools to increase winnings, but what can ensure victory is only luck, the underdog may win, and yes I have really experienced that situation where the team I favored lost and it was really unexpected, one of the reasons is because we cannot fully know what will happen on the field, there are so many things that can eliminate the advantage of a team that is much more favored, and this is why limits must always be applied.

[AprilioMP]

Are sports betting winnings more like active or passive income, and why?

Gambling winnings are not or do not become active income because the percentage obtained will not always be the same every time gambling is played. There are days when luck is always on our side. The opposite is also beyond our control. That is why gambling should not be considered as active or massive income. Not to mention people's perceptions of gamblers who are considered too negative.

[coin-investor]

When we research online, we often find that gambling winnings are considered passive income because they rely on luck and don’t require continuous effort. However, I don’t consider gambling, especially sports betting, to be passive income. You know, professional gamblers put in significant work to analyze matches—they read news, collect data, create strategies, engage in discussions, and some even use AI to compare results...Well it's a whole process

Gambling cannot be considered passive income. There is no source that will attach that to gambling and based on this article.

Passive income is money that you don’t have to actively work for; it comes in from something that already exists and continues to work for you.

https://www.xero.com/ph/glossary/passive-income/

Income in gambling is not guaranteed. In fact, your chances of losing are higher compared to your chances to win, so we should never use the word income for gambling, whether it is passive or active income.

While luck is a factor (of course), the substantial effort and skill involved make sports betting distinct from typical passive income. Therefore, I believe that sports betting winnings should be classified as active income, similar to trading or commerce, which involve both risks and the potential for profit or loss, like in any business.

If you invest in a legitimate business, you are likely to profit. No businessman will invest before conducting a feasibility study of profitability, which is not possible to do on gambling.

[Dr.Bitcoin_Strange]

I don't see gambling as a source of income and therefore can not even qualify it as a passive income. Gambling is just an activity in the middle, it can not really be classified as a sustainable source of income because it has the possibility to make an individual lose their capital too. A passive or active source income doesn't rely mostly on luck before you can earn.

[summonerrk]

I don't see gambling as a source of income and therefore can not even qualify it as a passive income. Gambling is just an activity in the middle, it can not really be classified as a sustainable source of income because it has the possibility to make an individual lose their capital too. A passive or active source income doesn't rely mostly on luck before you can earn.

Absolutely right. Because if someone wins the lottery, they should not consider this activity as their passive form of income. They did not earn this money, they won it, and there is a huge difference. Passive income itself implies reasonable investment with asset research and diversification. This is an extremely serious matter. And betting, just like gambling, cannot be considered such matters.

[Solosanz]

According to IRS, earning from gambling is considered as "other income", so users who said gambling income isn't an income is wrong.


https://www.irs.gov/pub/irs-pdf/f1040s1.pdf

Gambling winnings are not or do not become active income because the percentage obtained will not always be the same every time gambling is played. There are days when luck is always on our side. The opposite is also beyond our control. That is why gambling should not be considered as active or massive income. Not to mention people's perceptions of gamblers who are considered too negative.

It's same to business, not all business are in profit, but it's not necessary we should say business isn't an active income, people will laugh at you. If you didn't earn, then it's a loss.

[Litzki1990]

I am successful now with sports betting because I bet my money on those matches where a strong team and a weak team face each other. The longer I have been gambling with this strategy, the more success I have had. Maybe gambling with this strategy requires me to bet more money and my profit is less but there my money is risk free. I gave up expecting high profits long ago because as long as I have high profit expectations I only lose my money. If a minimum amount of money is lost from my total money then it is bad for me but if a small amount is added to my total money then it is profitable for me. You can gamble with my strategy if you want but before that you need to know about sports and have enough idea about which team is strong and which team is weak.

even though you are successful with the strategy you use in making bets, I think the increasing winning results or even you get them consistently are not good for you to consider as passive or active income. just think of it as a profit from the game that you can play continuously. if there is a bigger win and it will not be consistently obtained then a small win may be more frequent with your strategy. it would be better to think of it as bonus money that you can enjoy to have fun.

not a problem for gamblers who end up making gambling their passive or active income. because in fact there are gamblers who regularly bet every day to make a profit. it will not be a problem as long as the gambler enjoys it and there is no pressure on him to always get a win. minimizing the risk of loss is also part of the playing strategy.

Seeing that I make a profit by betting with this strategy, I do not think that I will make a profit on all the bets that I make, but the amount of money that I bet with before each bet is not excluded from the total money. Because the results are not always what I expect. I am not at all dependent on how much money I get from gambling. Since betting has become a habit and I have found a good strategy, I prefer to bet with this strategy. I have a different amount of money between the amount I bet and the amount I profited from.

By alternative income I mean where my money is not at risk but I am paid salary through my work. We can't consider the portion of the profit by betting on three to four matches as alternative income at all.

[Finestream]

According to IRS, earning from gambling is considered as "other income", so users who said gambling income isn't an income is wrong.

Sadly, that’s how they treat the taxation of gambling winnings, they don’t consider our expenses or previous losses. So we have to be careful with gambling because the bigger the risk, and if we’re lucky enough to win, the higher the taxes we’ll have to pay. But when we lose, the government will never aid us financially. It’s quite a burden on our side, but if we only gamble with a minimal amount of money, like placing a small bet and trying to hit a big win, then maybe we’ll feel the satisfaction if we do win, as it could feel like hitting a jackpot.

[betswift]

According to IRS, earning from gambling is considered as "other income", so users who said gambling income isn't an income is wrong.

Sadly, that’s how they treat the taxation of gambling winnings, they don’t consider our expenses or previous losses. So we have to be careful with gambling because the bigger the risk, and if we’re lucky enough to win, the higher the taxes we’ll have to pay. But when we lose, the government will never aid us financially. It’s quite a burden on our side, but if we only gamble with a minimal amount of money, like placing a small bet and trying to hit a big win, then maybe we’ll feel the satisfaction if we do win, as it could feel like hitting a jackpot.

Using money we are willing to spend is essential for things not going south in the long run, you are right. Reality is harsh, unfortunately.

[satscraper]

Hm, I think neither of two. Passive is the key point in passive income. You put money somewhere and do nothing to get income while the  sport betting   involves some mental activity at least to evaluate the odds,  On the other hand, it can not be classified as active income because it  results ^{(more than often)} in loss rather than actual income. Betting (^{whatever kind)} is nothing more than a gambling element at human life setup.

[Maslate]

Hm, I think neither of two. Passive is the key point in passive income. You put money somewhere and do nothing to get income while the  sport betting   involves some mental activity at least to evaluate the odds,  On the other hand, it can be classified as active income because it  results ^{(more than often)} in loss rather than actual income. Betting (^{whatever kind)} is nothing more than a gambling element at human life setup.

It’s even funny that we’re talking about gambling being an "income" when it’s only described as entertainment, which means we’re spending or losing money. This question isn’t for us gamblers but for the gambling operators, as they are the ones really making consistent income from their business. So whether it’s passive or active income for them, it doesn’t matter, they’re making money either way.

[betswift]

Hm, I think neither of two. Passive is the key point in passive income. You put money somewhere and do nothing to get income while the  sport betting   involves some mental activity at least to evaluate the odds,  On the other hand, it can be classified as active income because it  results ^{(more than often)} in loss rather than actual income. Betting (^{whatever kind)} is nothing more than a gambling element at human life setup.

It’s even funny that we’re talking about gambling being an "income" when it’s only described as entertainment, which means we’re spending or losing money. This question isn’t for us gamblers but for the gambling operators, as they are the ones really making consistent income from their business. So whether it’s passive or active income for them, it doesn’t matter, they’re making money either way.

Totally! But it's an interesting thought from @Maslate to put betting into a different category, because I too didn't think of other way where to put it

[Kelward]

While luck is a factor (of course), the substantial effort and skill involved make sports betting distinct from typical passive income. Therefore, I believe that sports betting winnings should be classified as active income, similar to trading or commerce, which involve both risks and the potential for profit or loss, like in any business.

This is only my point of you... what do you think

The question to ask before concluding whether sports bet should be categorized as active income is if after all the efforts of analysis and predictions whether there's a guarantee of win? The answer is no, therefore despite every efforts that a gamblers makes before their bets, they still depends on the luck factor to win. Gambling is best suited in the passive income category because it's not a sure income, despite your best efforts you can still lose your bet. To be a responsible gambler means that you have to consider it as an alternative source of income, if it's your main source of income, then you'll be running into dept because it's not possible to continue winning and take care of your responsibilities.