Anyone that is even a little bit serious about betting on sports needs to have a set budget for their sports betting bankroll. It’s not for me to decide what your budget will be, but for purpose of this article, our budget is set at $5,000 annually, or an average of $420 per month. This money is set aside strictly for placing bets, giving you a better feel for exactly what’s happening to it.
While I’m not big on sports betting systems, I consider being a selective bettor more of a philosophy, and as we look at the numbers, could possibly be considered a winning philosophy. Most bettors are arrogant enough to believe that winning 60% of their bets is an easy proposition, but it’s just not that easy.
The difference of losing an extra bet a day will eat away your bankroll drastically. To make this easier, let’s say the bettor featured in this article has a set wager size of $100 per play. With his $5,000 bankroll, $100 wager/play and a 50% win rate, after paying the juice (or vig) his account would look like this:
3 Plays/Day: Weekly Loss -$95 | Monthly Loss -$382 | Yearly Loss -$4584
5 Plays/Day: Weekly Loss -$159 | Monthly Loss -$636 | Yearly Loss -$7632
Over the run of a year, making 2 extra plays per day, at the same win/loss rate, will cost you more than three grand. A large chunk of your budget gone straight to your bookie. No matter how you choose the games you bet on, it’s in your best interest to be more selective on the wagers you make. Getting even the slightest edge on your sportsbook’s take will have a big impact on your overall success. Sometimes your best bet is the one you don’t make.
Before we move on to our next point, there are some other things you can do to help minimize the damage. Having multiple Sports betting to shop for the best line is always recommended.
I know a bookie in Costa Rica that has tens of thousands of bettors from New York City. The large majority of his bettors are homers, and tend to always bet on the home team, whether it’s the Giants, Jets, Yankees or Rangers. Because of this, his lines are always adjusted more than most books. If you’re prone to betting against New York teams, those lines need to be on your shopping list.
Using betting systems and strategies have the potential to provide the edge you’re looking for, but being selective will give you be best chance to succeed. You may see some sportsbooks advertising “reduced vig”. Be aware of these books, because in some way shape or form, you are paying for the vig. It’s how books make their money.
By no means is being selective, or any other sports betting approach going to guarantee anything. With the human factor involved so heavily, no one will ever be able to predict the future, and no matter the efficacy of a trend, the only edge you will have is to stick to your disciplined approach everyday.
Let me leave you with this bit of information. Using the same figures as above (5,000 bankroll, $100 wager/play), at 3 plays/day, if you were to increase your winning percentage 2.5%, from 55% to 57.5%, your yearly payoff will be greater than $9000. If that doesn’t resonate, maybe you should find another hobby.