With all of the hype in the media today with the “Guaranteed Locks of the Year” or the “10 Star Locks of the Month”, the average sports bettor may find it difficult distinguishing fiction from reality.With the promises of turning a small amount of money into thousands overnight clouds their judgment.Unfortunately this is not the case.To be successful with sports betting it needs to be treated like a marathon and not a sprint.Like the children’s 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 be extremely disciplined, manage your bankroll properly and to have a winning sports betting system.What they really want to know is if it’s possible to make tons of money from sports betting very quickly with no effort.Yes and No is really the only answer that I can provide to this question.
Let’s say you set a goal to make $10,000 from sports betting.Below are two options that you have to achieve this goal.
Option1 – Choose a game to wager on from your favorite sport.Now just place a bet of $11,000 on your favorite team and hope for the best.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 called gambling and NOT the option that I recommend.Large sums of money can be won or lost extremely fast using this method.
Option2 – Take that same $10,000 that you used for option 1, but instead of betting it all on just one game you can spread it around on several 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 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 per week with a conservative winning % of only 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 budget.I don’t know about you, but I like the safe and sure way and the great 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.
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