Why Slow & Steady is the Key to Sports Betting Success
With all of the exaggerations in the media today with the “Guaranteed Wins of the Year” or the “10 Star Locks of the Month”, the average sports bettor may find it hard distinguishing fiction from reality.With the promises of turning a small amount of money into $1000’s overnight clouds their judgment.Unfortunately this is not the truth.To be successful with sports betting you need to treat it like a marathon and not a sprint.Like the kids story The Tortoise and the Hare, slow and steady wins the race.
I am approached by people all of the time asking if it’s possible to really make money from sports betting 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 reliable and profitable sports betting system that you follow.What they really want to know is if it’s possible to make a lot of money from sports betting very quickly with little effort.To this I can only answer Yes and No.
So let’s say you decide to make your sports betting target $10,000.Here are the 2 ways that you can go about achieving this target.
Option1 – Choose a game to bet on from your favorite sport.Choose a team that you want and bet $11,000 and prey.If the game wins you just made your goal of $10,000.Unfortunately if you lose your are down $11,000 which is far from achieving your $10,000 goal.This is definitely not the option that I would recommend as it comes with too much risk.You can win a lot of money very quickly or lose it just as quickly.
Option2 – Take that same $10,000 that you bet for option 1, but instead of risking it all on just one game you can spread it around on multiple games.My suggestion would be to bet 5% of your bankroll on any given team.The goal is to obtain small gains and use the power of compound interest to accomplish your $10,000 goal.For this example let’s say that you bet on only 2 games per day and a total of 14 games per week with a conservative winning % of only 57%.This is what it would look like.
|
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 takes a bit longer, it comes with much less risk as you are never really jeopardizing your bankroll.I don’t know about you, but I like the safe and sure way and the best part is that once you have increased your bankroll by 100% then your bets now would be $1000 instead of $500.
Imagine what could happen if you increased your win rate to 60% and bet on more games per week.You achieve that 100% increase at a much quicker 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.
