Why Sports Betting is Like a Marathon
August 24th, 2009 | 
Author: The average sports bettor may find it difficult distinguishing between fact and fiction with all of the hype out there in the media, with the “Guaranteed Locks of the Decade” or the “10 Star Locks of the Week” .They fall into the trap of believing that it’s possible to turn a tiny amount of money into thousands overnight.Unfortunately this is not the truth.To ensure success with sports betting it needs to be treated like a marathon and not a sprint.Like the kids fable The Tortoise and the Hare, slow and steady wins the race.
I am approached by bettors quite often asking if it’s possible to really make money betting on sports and my answer is always the same: Yes with a big BUT.You need to properly manage your bankroll, be extremely disciplined and must have a winning and profitable sports betting system that you follow.What they really want to know is if it’s possible to make tons of money from sports betting very quickly with no effort.To this question I can only answer Yes and No.
Let’s say you set a goal to make $10,000 from sports betting.Here are the 2 ways that you can go about achieving this goal.
Option1 – Choose a game to bet on from your favorite sport.Choose the team that you like and bet $11,000 and prey.If the team wins you just made your target of $10,000.If you end up losing this bet then you would have lost $11,000 and a mile of away from the $10,000 goal.This is definitely not the option that I would recommend as it comes with too much risk.Large sums of money can be won or lost extremely quickly using this method.
Option2 – Take that same $10,000 that you used for option 1, but instead of betting it all on just one game you can spread it around on several games.I personally only bet 5% of my bankroll on any given game and that is what I would suggest to you.The plan is to use the power of compound interest with small gains to obtain the $10,000 objective.To help illustrate this, we will use a conservative win rate of only 57% as well as say that you will be betting on only 14 games per week which works out to only 2 games per day.Here is how it would look:
|
Bankroll |
$10,000 |
|
Bet Size 5% |
$500 |
|
# Games |
14 |
|
Win % |
57% |
|
Wins |
8 |
|
Losses |
6 |
|
Win $$$ |
$4,000 |
|
Loss $$$ |
$3,000 |
|
Vig 10% |
$300 |
|
|
|
|
Net Win $$$ |
$700 |
|
% Increase |
7% |
So by using this conservative example of increasing your bankroll by 7% per week and a winning percentage of 57%, you can achieve that $10,000 target in just under 11 weeks.Although it is a bit longer, it comes with much less risk as you are never really jeopardizing your bankroll.I’m sure you would agree that this is a much safer option and the great part is that once you increase your banrkoll by 100% you can now adjust your betting amounts from $500 to $1000 per game as that would be the new 5%.
Imagine what could happen if you increased your win rate to 60% and bet on more teams per week.You achieve that 100% increase at a much faster rate then the 11 weeks from above.
If you would like to learn more about how to be profitable at sports betting, then please grab a copy of my Free ebook : “Sports Investing Secrets – How to Turn $1,000 into $1,024,000 in Less Than 5 Years Betting on Sports” at my website http://www.1stopsportsinvestors.com.
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