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Posted on July 4, 2009 by Kendrick Wilson | Posted under Recreation and Sports
Why Sports Betting is Like a Marathon
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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 tons of money from sports betting very quickly with no effort.To this question I can honestly answer Yes and No. Let's say you set a target to earn $10,000 from sports betting.Here are the two ways that you can go about achieving this goal. Option1 - Choose a game to wager on from your favorite sport.Choose the team that you want and bet $11,000 and cross your fingers.If the game wins you just won your target of $10,000.Unfortunately if it loses your are down $11,000 which is far from achieving your $10,000 target.This is what is known as gambling and NOT the path that I recommend.You can win a lot of cash very quickly or lose it just as fast. Option2 - Take that same $10,000 that you used 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 game.The objective is to create small gains and use the power of compound interest to obtain your $10,000 goal.For this example let's say that you bet on only two games per day and a total of 14 teams each week with a conservative winning percentage of just 57%.Here is how it should 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.This option may take a bit longer, but you are never really putting your bankroll at risk.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. About The Author: 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. |
Tags: SPORTS BETTING, SPORTS BETTING SYSTEMS, SPORTS BETTING SYSTEM REVIEWS, TOP SPORTS BOOKS, BET ON SPORTS
