Sports Betting

Sports Betting
Money ManagementThe real difference between a winning and a losing sports bettor isn't always picking the winners instead of the losers. To be a true winner in the sports betting field you not only need to pick winners, but you also need to understand and apply solid money management. There are plenty of so-called easy money sports betting money management systems out there, but if you want to really be successful you just have to stick to two things: Straight betting and flat betting. When we say straight betting we mean avoiding things like parlays, teasers, props and futures. These are usually heavily promoted by sportsbooks because they make them lots of money. Think of it this way. You have three teams picked as surefire winners this week. Instead of betting on each game individually, you put all three on a parlay. By doing this you're limiting your results to only two outcomes, namely that all three win and you get paid, or one or two loses and you get nothing. If you bet on these three games individually you could still make a profit if you win two out of three. Even if you only win one of the games you still make some of your money back, unlike a losing parlay, which costs you everything. Simply sticking to making straight bets will not assure you solid money management though. You also have to stick to flat betting. This means you must bet the same, or at least a very similar amount, on each bet.

Many people believe varying the size of their bets will help them to win more in the long run. This is of course false. Let's use another example with three bets. In Game 1, you think the Patriots are a lock so you bet $300 to win $285. In your other two games you don't feel as confident on the Eagles and Lions, so you bet $150 to win $135 on both. You end up winning two out of three, but it is the two games where you placed smaller bets. You risked $600 on the three games and even though you were successful in two of three, you ended up with only $570 and a $30 overall loss. If you had bet all three games with the same amount of money, you would have made a profit. Unless you stick to flat betting, you are not guaranteed a profit even if you pick more winners than losers. Now that you know how to bet, the next question is how much should you bet? A bettor always wants to maximize their winnings, while also keeping enough money in their account to keep afloat during a losing streak. The best way to do this is to play a percentage of your bankroll on each bet. The percentage you play, though, should be determined by the size of your bankroll. For bettors with a large bankroll the magic number is usually 2-3 %. For someone with a small bankroll this may be a little low. Say you only have $100 in your bankroll. Two to three percent of $100 is only $2 or $3 per wager. That would be considered a very small bet and a winning wager would have very little profit. If you have a small bankroll (say around $250 or smaller), you may want to bet between 5-7.5 % of your bankroll per bet. This will encourage a better profit if you can successfully pick the winners. Now that you know how you should be managing the money in your sportsbook account, all you have to do is stick with the plan. A large part of successful sports betting is discipline. You have to discipline yourself from placing a big wager on the so-called lock to win. People who are always looking for the fast money on a couple of bets will eventually get burned and end up broke. Stick to straight betting and flat betting and success will follow if you can pick the winner. A professional sports bettor works for a 60 percent winner-to-loser ratio. If you can come close to that over a season while being a disciplined bettor, you'll reap the rewards.
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