It’s impossible to watch any sports in the US without being inundated with gambling ads. The promises seem too good to be true: bet just $5 and get $300 in bonus bets, or get up to $1,500 in bonus bets if your first bet doesn’t win (both real offers currently available from major platforms). How can you go wrong gambling on sports with offers like that? Most platforms promise cheap entry and little risk, but the truth about betting on sports isn’t as it seems.

The house always wins

The amount of gross revenue sportsbooks make, as a percentage of wagers placed, has been increasing every single year since 2018, from 6.7% to 10% so far in 2025 (this percentage is called hold). They aren’t getting better at making odds, of course, but are getting better at steering users towards losing bets. For example, sportsbooks love parlays: hold is 18.2% on average for parlays, while they only make 4.9% on straight line bets. Data from New Jersey in September of last year showed that parlays accounted for nearly a third of total bets with a whopping hold of 24.2%.

Even if you avoid parlays entirely and stick to what you know, the odds are still stacked against you. A couple of the only ways to reliably make money on sports gambling are to take advantage of differences in odds across sportsbooks (known as arbitrage betting) or to bet on error lines. It is entirely legal for sportsbooks to limit your account for this behavior, which can effectively ban you from placing bets. It is very difficult to gain any sort of edge over the house, but if they discover you have, they can limit your ability to place bets or ban you entirely.

The stats on sports betting are grim and many bettors have a problem. A survey conducted earlier this year found that 50% of sports bettors have used a gambling addiction tool in a sportsbook app. That means half of all sports bettors surveyed either know they have a gambling problem or think they may have a problem. The same survey found that 37% have bet more money than they felt comfortable losing and nearly one-in-four, 23%, have had someone express concern about their gambling habit. It is worth emphasizing this wasn’t a survey of problem gamblers, but a survey of sports bettors in general.

Can you gamble responsibly?

I signed up for one of the major sportsbooks shortly after sports gambling was legalized in my state and placed a modest bet, I believe around $50, on UGA football to cover the spread in their bowl game (it was a New Year’s Day bowl game in 2021 against Cincinnati). I graduated from UGA and I am a fan of their football team, so it seemed like a natural bet to place. I placed the bet after the start of the game and my odds were UGA -2.5 points. That means if UGA won by 2 points or less, or if Cincinnati won, I would lose my bet. If UGA won the game by 3 points or more, I would win my bet.

The game was insane. UGA trailed Cincinnati by 2 points, 21-19, and kicked a field goal with just 0:03 seconds left in the game to go up by 1 point, 22-21. I was happy UGA took the lead, but disappointed I would lose my bet. Then on the final play of the game, the Cincinnati quarterback was sacked in the end zone for a safety, which is 2 points, so UGA won 24-21 and I won my bet.

That was the last time I ever bet on sports (or anything, for that matter). The game was exciting enough on its own, and I realized just how random gambling outcomes can be. I won my bet on a fluke safety on the last play of the game. I placed a bet on a team I had an emotional connection to, which is never a smart thing to do.

But the main reason why I decided to never gamble again after that win was because of the rush I got on that final play of the game. Not on the field goal for UGA to go up by 1 point, but on the meaningless safety to end the game. It was unlike anything I’ve experienced watching sports before and I realized just how addicting that feeling could be. I felt that if I continued to gamble on sports after that win, I would always be chasing the high from that day and would be at risk of becoming addicted.

The house always wins, and if you somehow gain a consistent edge over the house, well, they’ll kick you out. The share of Americans that see sports gambling as bad for society has been steadily increasing and is now at 43% (50% say it is neither good nor bad and only 7% say legalized sports betting is a good thing). Men under 30, the demographic group that places the most bets on sports, has seen attitudes shift even more dramatically. In 2022, just 22% of men under 30 said sports betting was bad for society. Now, 47% of young men agree that it is harmful. 

I decided that sports betting wasn’t worth the risk for me and that casual gambling could potentially evolve into a more problematic habit. That may not be the case for you, but if you do bet on sports (or anything else), make sure you set rules for yourself. Never bet more than you can afford to lose. Don’t expect to make any money gambling and assume you will lose money over time. And make sure you are investing at least 25% for retirement before you consider spending any money gambling on sports.

1. Use your existing specialization or expertise

Your quickest path to a successful side hustle is likely monetizing skills you already possess. This can really be anything, and may not even be a skill you use at your main job. If you speak a second language, you could become a tutor for students that speak your secondary language and are looking to learn your primary (or vice versa). If you are skilled at designing websites, try that. If you enjoy being outside, perhaps try landscaping or mowing lawns.

Don’t limit yourself and don’t be afraid to try something out that may not be a sure thing. A side hustle allows you to dip your toes in the water and take risks that would be very difficult to take with your main source of income. If your big idea doesn’t work out, then you’re no worse off than you started.

2. Resell goods online

I have years of experience reselling online myself, and while you can certainly make great money reselling, there are many misconceptions. Reselling is not passive income or easy work. It takes time to build a sustainable and successful business. It is a very competitive space right now, so you will need to be smarter and work harder than your peers to make good money. All that being said, I think it is a great way to earn income.

You can start reselling as soon as…today. Start small by selling some things around the house you no longer use or want. Electronics, clothing, collectibles, video games, household products, you name it, if it’s in your house, you can probably sell it online. If you feel comfortable selling items you already own, try purchasing items specifically to resell. You can buy items to resell at thrift stores, yard sales, estate sales, auctions, and more. Usually the most in-demand items are harder to find, but niche products are often overlooked and can sell for great money. 

3. Good-paying seasonal jobs

Side hustles can be regular jobs that you work in addition to your main job. Many businesses have busy seasons where they are looking for seasonal workers and some can pay very well. UPS is one example of a good-paying seasonal job that could help you get your foot in the door for a regular position. It’s not uncommon for full-time UPS drivers to make over $100,000 per year, and it is a union job with health insurance, a pension, and financial aid for tuition.

4. Market your services on sites like Upwork and TaskRabbit

If you are looking to start your own business, websites like Upwork, Fiverr, and TaskRabbit can help you find customers interested in your services. The types of services offered on these platforms range from specialized work such as writing, logo design, and marketing to assembling a couch or mowing your lawn and everything in-between. Fiverr and Upwork are global websites, so you may be competing with others that are able to offer similar services at a lower cost due to a significant difference in cost of living. However, customers often want to work with someone located in the same country and are willing to pay up for high-quality services.

5. House-sitting or pet-sitting

If you enjoy animals or hanging out by yourself, pet-sitting or house-sitting could be the side hustle for you. You can use apps such as Rover to launch your side business or do it the old-fashioned way by stapling posters to streetlights or posting an ad on Craigslist. People love their pets (or their house) and are willing to pay good money for someone to take care of them (or it) while they are away. For pets, getting to stay at home is often a more enjoyable and less stressful experience than being boarded.

If you do a great job pet-sitting and caring for animals, don’t be afraid to set high rates. The pet sitter we regularly use is a vet student at UGA and takes great care of our cats. She charges more than anyone else we’ve used, but she takes excellent care of our cats and we can truly relax on vacation knowing they are being well cared for. That hasn’t always been the case with past pet-sitters, so we are happy to pay more for peace of mind (and happy cats).

You might have noticed that some of the most popular side hustles, like delivering food or driving for rideshare services, are not on this list. While these can be viable sources of income for some, many areas are oversaturated with gig workers and it is difficult to make even minimum wage after you factor in all of your expenses. Many drivers have no idea how much they actually make because they don’t factor in wear and tear on their vehicle, the cost of gas, time spent waiting in-between jobs, and other expenses. 

It’s difficult to find detailed analyses on real driver pay after expenses, and companies only share gross pay before any expenses or taxes. However, one analysis found that, after accounting for all expenses and cost of operating, DoorDash drivers make $1.45 per hour, on average, with many losing money dashing. A writer that tried driving for Uber last year found they made $10.49/hour after paying for gas. That might sound alright, depending on where you live, but the writer did not factor in wear and tear on their vehicle. If you subtract the standard mileage rate from the IRS of $0.70 per mile, they actually lost money driving for Uber.

Side hustles won’t get you rich quickly and are usually quite a bit of work. Be very wary of anyone telling you otherwise. Side hustles can, though, get you rich slowly. If you are able to invest an extra $200 per month from a side hustle, not a crazy number by any means, you could have almost $500,000 extra by retirement (assuming you start at 30, retire at 65, and earn 8%).  Check out our new compound interest calculator to see what your side hustle could turn into.

Want to know what increasing your savings rate can do for you? Check out our free resource, “How Much Should You Save?”

All ideas in this article are broadly applicable and don’t require you to have a certain level of expertise or knowledge to start making money. However, it is worth noting that the most lucrative ways to make extra money may be those more specialized side hustles. For example, if you are a web developer, using your web development skills to take on your own clients or teach classes has much greater earning potential than driving for DoorDash. If you don’t have in-demand skills you can easily monetize, here are some side jobs that most people can earn good money doing.

1. Pet-sitting

Many pet owners would rather leave their pets in their own home where they are most comfortable instead of boarding them at a facility with other pets. Our cat Cleo was miserable when we boarded her and she always smelled weird when we got back from vacation. We started using Rover, which was about the same price for us, and our cats are happier and we get updates and pictures of them while we are away. If you love animals, taking care of other people’s dogs, cats, and other pets could be a great way to earn extra money. We are truly appreciative of the great pet-sitters we’ve found and you have the chance to not only earn extra money, but make lives easier for both the pets and their owners.

2. Gardening

If being outdoors is something you enjoy and you are good with plants, gardening can actually be a unique way to earn extra money. Several of my neighbors grow native plants and fruit trees and have plant sales every few months and make great money doing something they love. Gardening has so many more benefits other than earning extra money, like making your yard or neighborhood more beautiful, being outside and getting exercise, and the fulfillment of taking care of something and watching it grow and thrive. In addition to gardening, more traditional side hustles like landscaping and mowing lawns can generate extra income if you like yard work and don’t mind being outdoors.

3. Delivering food or driving for a ridesharing service

This is a side job with a lower barrier to entry as you only really need a car and a decent driving record to deliver food or drive for a ridesharing service. It is often not worth it if you don’t properly account for the mileage and wear and tear on your vehicle. However, it can be worth driving at peak times when rates are higher and users are tipping more often. If you don’t mind sharing your car with others and being on the road a lot, delivering food (or people) can be a great way to earn extra money.

4. Sell stuff online

One of the easiest ways to make extra money quickly is by selling stuff online that you no longer use. Facebook Marketplace is very easy to use and you can turn things that are just taking up space in your home into cash. Selling stuff online also has a high earning potential if you find a niche you enjoy and start sourcing goods specifically to resell online. Try to find a category with not as much competition; this is easier said than done, but something like antique postcards will be much easier to make money in than used clothing or video games. The online reselling world is very saturated, but it is still possible to make great money selling stuff on the internet.

5. Freelancing

Freelancing does require you to have some skill, but chances are you have a skill you can monetize by freelancing. What exactly can you make money doing freelancing? Almost anything. If you are a teacher, you could tutor students; if you are a skilled writer, you could write articles or copy in your spare time; if you have experience growing a brand’s social media presence, there are no shortage of companies looking to grow their brand online. No matter what you are good at, chances are you can offer your services to others and make money in the process.

Increasing your income is possible for most people, but it usually isn’t easy. You may have to commit to working more hours and spend some of your free time doing side work. Only you can decide if the extra work is worth it. If you are using the extra income for very significant and important financial goals, it very well may be. It’s not uncommon for those in the FIRE movement to work extra hours or side jobs in order to have the ability to retire early. Know your “why” before you start working extra jobs; is the additional money you earn worth the time you are giving up? Money is a limited resource for all of us, but time is the only resource that we can never get back.

If you are looking to take your side hustle full-time, what are some pitfalls and traps you should be thinking about and watching out for? Want to know what to do with your next dollar? You need this free download: the Financial Order of Operations. It’s our nine tried-and-true steps that will help you secure your financial future.