Sorcery is commonly known as trading. There are often opportunities to profit from events such as team news if you have your ear to the ground, this is the place to discuss and declare news of interest.
We call it sorcery as you are manufacturing cash out of thin air (sane people would just call it trading).
For example yesterday (Friday Jan 13th) was a lucky day for those who heard about the news of Costa being dropped for the Premiership game against Leicester as it provided an opportunity to trade the market.
The early bird could lay the Chelsea win at 1.66 and then watch the market drift all the way out to 1.86 before closing their trade by backing Chelsea for the same amount (or slightly more to lock in profits).
You may have listened to Basher Tom talking with Ryan from betfairtradingcommunity.com – (see week 59 of the Bashcast). They have a community and tools to assist you if you want to take trading more seriously.
BetAngel also have a good reputation.
The racingpost is a good free resource for data if you want to analyse the horses.
Plenty of football data is available for free at football-data.co.uk.
Soccer Stats have some very useful data in an easy to read format http://www.soccerstats.com/latest.asp?league=england
The Dixon and Coles model was one of the first proper studies in to football betting.
For weather forecasts at sporting venues try the Norwegian Mat Office https://www.yr.no/