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 Year” or the “10 Star Locks of the Week” .They fall into the trap of believing that it’s possible to turn a small amount of money into thousands overnight.Unfortunately this isn’t the truth.If you really want to be successful with sports betting then you need to start thinking of it as a marathon and not a sprint.Slow and steady wins the race, just like that kid’s book The Tortoise and the Hare.
Every week I’m asked by people if it is truly possible to 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 winning and profitable sports betting system that you follow.What they are really trying to find out is that without putting in a lot of effort, if it is possible to make a lot of money from sports betting.To this I can only answer Yes and No.
Let’s say you set a goal to earn $10,000 from betting on sports.Below are 2 options that you have to achieve 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 you are lucky enough to win this game, your $10,000 goal has been accomplished.Unfortunately if it loses your are down $11,000 which is far from reaching your $10,000 target.This is definitely not the option that I would recommend as it comes with too much risk.You can win a lot of money quickly or lose it just as fast.
Option2 – Take that same $10,000 that you used for option 1, but instead of betting it all on just 1 game you can spread it around on several 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 accomplish your $10,000 target.In this example let’s say that you bet on only two games per day and a total of 14 games 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.Although it is 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.
Now imagine if you bet on more games per week and that you could increase your winning percentage to 60%.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.
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