How to Treat Betting on Sports like a Business

Apr 1
09:14

2011

Jamie P Hanson

Jamie P Hanson

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The number one goal of anyone who bets on sports is to win money. No one likes the feeling of wagering on a sporting event and then losing their hard earned money because their team didn't win the game or cover the point spread.

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The number one goal of anyone who bets on sports is to win money. No one likes the experience of wagering on a sporting event and then losing their hard earned money because their team didn't win the game or cover 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 scrutinizing this trend,How to Treat Betting on Sports like a Business Articles one of the biggest problems that most amateur bettors have is a poor, or nonexistent, money management 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 can become one of the few who shows an attractive profit with a Dependable foundation from which to develop your bankroll month after month, and every year. Establishing Your Sports Betting Goals To gain profit is the primary intention for betting. One of the many questions that you need to take into account when developing a winning plan for success is how much money do I need to make monthly or yearly from gambling on sports, and do I have adequate money to start with to achieve this goal?Let's use an example of a realistic goal: "I would like to make an extra $100 - $300 per month betting on sports. I have $3000 to start with at the beginning of the football season.".Just as with any business, if you treat sports betting as a significant business, money can be created, if you understand what is required. Most people have unrealistic expectations that they can bet $50 a game with a $500 bankroll and be doubling their money in no time. It clearly 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 size, and the size of your bets should correlate considering the size of your existing bankroll. Let us discuss your budget and games available to place bets, along with probable profit from your investment. As an example, start with a basic 2% flat rate of bankroll. It is pertinent to invest 2% of your total budget. By gambling 2% you will have nearly no possibility of losing your entire bankroll over a losing streak, because as your bankroll decreases, a 2% bet will also get smaller as well. Even if you win on bet yet it is advisable to stick to the 2% investment in gambling for sports. You need to use this type of system to minimize your losses during cold streak and optimize your profits during a hot streak. How much can I expect to make? To look at this we will use a scenario of someone who has a starting bankroll of $1000 and we will examine how much money they can make using the 2% flat rate of bankroll system with different winning percentages for picking winners. We will observe 100 bets. There are two ways to make more money per 100 bets. The first is to pick a higher percentage of winners, if you accept higher that 60% winners you will make more cash 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 would be $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 economic success. It is a way to grind out long term profits month after month, and year after year. This system it is a safe way to build a bankroll little by little and make you one of the few you can proudly show a return at the end of the year. Get advice from an experienced sports handicapper with a strategy for managing your money to begin making money by betting on sports.