Realistic Betting Expectations
Sports Betting In the great world of sports betting, many different fans and enthusiasts start to bet on their favorite sports, teams, and events. This is an overall good thing, especially for those that know what they are doing. Just like any new person to world of online gambling, there may be a few myths and speculations that are just not correct, yet are still assumed. This is why we need to have a more realistic outlook when starting to bet on sports; or any other kind of gambling. We will go over some of the myths that many inexperienced bettors have when they start placing their bets, as well as a smart way to bet that will keep your expectations real. Sports Betting Myths There are many different myths that are related to betting on sports, and most of them revolve around money. Let’s check out some of the myths that go along with betting and explain just why they are not true. Bet Big; Win Big This may be true in the sense that if you get lucky enough to place a $10,000 bet on +600 odds and win, you will certainly get a very big payoff; $60,000 worth. However, for a person to bet on those kinds of odds with that amount of money is ludicrous. They have better chances of losing 99 out of 100 times than winning. Those bettors that bet big usually lose big as well. The smart bettors are those that spread their money around, placing more bets with smaller amounts that end up having a steady income. 100% Accuracy When you start betting on sports, you may encounter betting systems or strategies that state that they are “100% Accurate”. These types of systems are scams, as there is no one that has such a system, and even if they did, they would not broadcast it over the internet for free or a small fee. So, when you encounter these types of systems, be very skeptical. I am not saying all betting systems are bad, I am simply saying that the results won’t be as high as they are marketed. Sportsbook Lines Many believe that the betting lines that are given at the sportsbooks are simply made up numbers, and once the betting starts they shift in order to guarantee that the sportsbook get a profit. Well, it is true to a certain extent; the sportsbooks do want to make money. However, the lines are set by smart bookmakers that take everything into consideration. They are expert handicappers and will tend to set the lines pretty accurately. So when you look at the lines on your sportsbook, don’t automatically assume that they are wrong. Realistic Sports Betting What you, all of the new or inexperienced sports bettors, need to become is a realistic bettor with clear goals and objectives. If you are simply making a bet out of fun, then the next tips and explanations may not be for you. The following tips are really for the bettors that are more serious about making some money with the bets they place. Winning Ratio This is the top tip any successful sports bettor will ever give anyone; try and get a winning ratio. There are a lot of bettors that state that for anyone to really make a profit, they need to win at least 55% of all of the bets they place. This is very realistic, as people that know about a specific sport, but do not do any further research, are actually prone to get anywhere between 40 and 50 percent. By getting a 55% or more winning ratio, you are on a good track to getting a profit. Trying to get 100% of all of your bets should always be the goal, but do not think that anything less than 100% is bad. Keep in mind that the goal of sports betting is to make a profit, and as long as you are making a profit, the rest should not matter. Bankroll Management Managing your bankroll and finances should also be done responsibly and realistically. Don’t try and spend more than you can afford to lose, as that leads to serious problems. That is why you should mainly focus on only using around 4% – 6% of your total bankroll on every bet; this is an average. This amount fluctuates depending on the amount of money you start with. You can use this simple table to determine what range you fall in:
This shows a rough estimate of what you should really use based on the amount of money you have in your bankroll. We go further and state that you should only use 70% of your total bankroll during any given week. This is so that if you ever do suffer any losses, you will still have 30% to bet with.
Do not think for a second that you will never lose a bet, and be assured that you will sometimes see more losses than wins. You need to be prepared for those losses, and deal with them accordingly. Do not try to win it all back by rushing your decisions; that will only lead more losses. You need to keep a level head throughout your total experience, whether it’s good or bad, and in the end you will certainly be on top.
Slow and Steady Wins the Race
What many believe will happen is that they will place a few bets and in just a short time they will be swimming in money. This is simply not true. All of the most successful sports bettors state that in order to get a profit, it has to be in the long run. You could, and should, expect to be able to win at least enough money to supplement your income; by either getting a second full time or part time income from this. However, bettors should never make sports betting their full time and primary source of income, it should always be a secondary means of making money. This is what makes a smart and financially stable sports bettor.
Setting Realistic Goals
The one important thing that every bettor should do before placing their weekly bets is to make realistic goals for themselves. They can set daily, weekly, monthly, and even yearly goals. They can include certain factors such as how much money they are going to wager, as well as how many bets they are going to place, along with the amount they believe they will win. These goals must be realistic, or else you will certainly be let down more often than not.
Research and Handicapping
Some of the new bettors I have encountered like to place bets on what they already know or on what they feel will happen. Sure, some of those bets may payout, but most of the time they will lose. This is why the successful bettors research the teams, players, and even the market odds on the different sports matches. This will give them better insight into what could possibly happen and whether their bet has good chances of winning.
You should now know some of the great myths that many new or inexperienced bettors tend to believe, and we hope you use this information so that you do not repeat the same mistakes many before you have. Take into account all of the different tips that go along with having realistic betting expectations, and remember that no one has ever gotten rich from sports betting; they were already rich to begin with.
|Bankroll Size||Bankroll Percent||Amount per Bet|
|$50 – $500||8% – 12%||$4 – $60|
|$501 – $1,500||6% – 8%||$30 – $120|
|$1501 – $5,000||5%||$75 – $250|