subject: How to Treat Betting on Sports like a Business [print this page] How to Treat Betting on Sports like a Business
Winning money is the prime concern for everyone who bets on sports. No one likes the idea of wagering on a sporting event and then sacrificing their hard earned money because their team didn't win the game or manage the point spread. It has been well discussed in the past that most people who bet on sports lose money in the long run. After analyzing this trend, one of the biggest issues that most amateur bettors have is a poor, or nonexistent, management of their money strategy. The knowledge of few strategies can put you in a better position to win than the people who lose, as betting is always uncertain. You could become one of the few who shows an attractive profit with a Dependable foundation from which to develop your bankroll month after month, and each year. Establishing Your Sports Betting Goals
To gain profit is the primary intention for betting. One of the primary questions that you need to take into account when developing a winning plan for economic success is how much money do I need to make monthly or yearly from gambling on sports, and do I have sufficient money to start with to accomplish this goal?You can allocate a fixed budget and decide the amount of betting gain you would like to have on your investment.Just as with any business, if you treat sports betting as a serious business, money can be created, if you understand what is required. People do not realize that they will not be able to double their money and bet unrealistically with a camouflaged vision. It simply does not and will not work this way. Determine the size of your Bankroll The first thing you need to do is establish a starting bankroll for your sports betting, and then decide how much you will be betting on each particular game. Your bankroll must always determine your betting proportions, and the size of your bets should correlate with the size of your present bankroll. Let's define bankroll size as the amount of money available to place your bets with, and the investment vehicle to build your profits. For example, start with a basic 2% flat rate of bankroll. This means that if you start with a bankroll of $1000 your first bet would be for $20, or 2% of your bankroll. By gambling 2% you will have nearly no chance of losing your entire bankroll on a losing streak, because as your bankroll reduces, a 2% bet will also get smaller as well. When things turn around and you go on a hot streak, and your bankroll grows to more than your initial $1000, you get to increase your bet size, simply by being disciplined and sticking with the 2% flat rate of bankroll system. You must use this type of system to minimize your losses during cold streak and increase your profits during a hot streak. How much can I expect to make?
Let us analyze the facts of an individual who has a budget of $1000 and with 2% investment in various spots and find the winning percentage of the sports. We will track 100 bets. There are two ways to make more money per 100 bets. The first is to pick a larger percentage of winners, if you pick higher that 60% winners you will make more money than if you only pick 55% winners. The second way is to increase your bankroll, which will allow you to increase the size of your bets. As a 2% bet of $1000 was $20, (we used $22 to simplify the math), 2% of $2000 is $40. This situation would now allow you to increase your profits quite nicely over a 100 bet stretch. The above is a basic fundamental strategy associated with long term sports wagering success. This strategy will give you monthly profits. This system it is a safe way to build a bankroll bit by bit and make you one of the few you may proudly show a nice gain at the end of the year. Professional advice is essential for money management, to begin betting on sports.
