The 3 Basic Principles of Sports Betting
Many players especially gamblers focus on games, strategies and betting systems that will be profitable for them. After all, it's through a good betting system that one can make real money. The same thing applies for the so called money or finance management. This only means that if you don't know how to manage your finance, there is no chance for you to enjoy the benefits of sports betting. Sport betting is similar to gambling although there are some people who claim that it is only a hobby turned into a viable and legitimate investment.
In the world of sports betting, many experienced "sports investors" use the term money management and risk management interchangeably. What are really these terms and how are they related to sports betting? Since you are betting your money here, you need to manage your risk or manage your money and the main goal should be to preserve your hard-earned money or capital as well as to minimize your chances for loss. In order to reach these goals, there are 3 basic principles of sports betting that many sports bettors observe and these 3 principles are discussed in this article:
Flat Betting
This betting system is one of the most popular sports betting systems practiced by many sports bettors. The concept behind this is to bet the same amount of money for each game or sports played. However, there are some sports bettors who chase or increase the size of their bet based on the last bet they made and this is not recommended since betting on sports is also risky. If you are a new sports bettor, you have probably heard about some bettors talking about various systems that require an increase in the bet size because of the assumption that you are going to win in the future. These systems do not really work because eventually, a bad streak may occur and when you are recklessly betting a large amount, it would be impossible to recoup losses.
Unit Size
The next principle is to identify what type of investor you want to be. Do you want to be an aggressive or conservative sports investor? Are you an experienced sports bettor or a beginner? How you identify yourself as an investor will help you determine the size of your bet. This is called the unit size. Typically, the safe unit size should be around 1% to 3% of the bettor's bankroll. Beginners also called the conservative sports investors should only bet around 1% to 2% on each play while aggressive or experienced investors are confident enough to place around 3% bet on each play. If you want to stay on the safe side, you should only bet around 2%. You would probably ask about higher bets. Why can't you bet around 4 or 5%? This is simply because of the risk of ruin and streaks. You don't want to lose a large of amount of money, too large that could cut your bank roll on bets in half or sometime even worse.
Risk Capital and Bankroll
Many casual bettors feel that they are already on their high end when they bet within the range discussed above. However, this is only because the true bankroll of many sports bettors is usually higher than the amount of money they have in their account. The principle here is that they can always add some more account aside from what they normally have in their account. For experienced betters, they make sure that they know how much money they should have in their bankroll in order to preserve their capital from the risk of ruin.
Sport betting is such a good investment especially that it does not require any special skills and knowledge unlike any other form of investment that you really have to invest your time and effort. However, there are fundamental principles that any sports better should learn and understand and like any other investment, the goal should be to gain profit rather than losses.
In the world of sports betting, many experienced "sports investors" use the term money management and risk management interchangeably. What are really these terms and how are they related to sports betting? Since you are betting your money here, you need to manage your risk or manage your money and the main goal should be to preserve your hard-earned money or capital as well as to minimize your chances for loss. In order to reach these goals, there are 3 basic principles of sports betting that many sports bettors observe and these 3 principles are discussed in this article:
Flat Betting
This betting system is one of the most popular sports betting systems practiced by many sports bettors. The concept behind this is to bet the same amount of money for each game or sports played. However, there are some sports bettors who chase or increase the size of their bet based on the last bet they made and this is not recommended since betting on sports is also risky. If you are a new sports bettor, you have probably heard about some bettors talking about various systems that require an increase in the bet size because of the assumption that you are going to win in the future. These systems do not really work because eventually, a bad streak may occur and when you are recklessly betting a large amount, it would be impossible to recoup losses.
Unit Size
The next principle is to identify what type of investor you want to be. Do you want to be an aggressive or conservative sports investor? Are you an experienced sports bettor or a beginner? How you identify yourself as an investor will help you determine the size of your bet. This is called the unit size. Typically, the safe unit size should be around 1% to 3% of the bettor's bankroll. Beginners also called the conservative sports investors should only bet around 1% to 2% on each play while aggressive or experienced investors are confident enough to place around 3% bet on each play. If you want to stay on the safe side, you should only bet around 2%. You would probably ask about higher bets. Why can't you bet around 4 or 5%? This is simply because of the risk of ruin and streaks. You don't want to lose a large of amount of money, too large that could cut your bank roll on bets in half or sometime even worse.
Risk Capital and Bankroll
Many casual bettors feel that they are already on their high end when they bet within the range discussed above. However, this is only because the true bankroll of many sports bettors is usually higher than the amount of money they have in their account. The principle here is that they can always add some more account aside from what they normally have in their account. For experienced betters, they make sure that they know how much money they should have in their bankroll in order to preserve their capital from the risk of ruin.
Sport betting is such a good investment especially that it does not require any special skills and knowledge unlike any other form of investment that you really have to invest your time and effort. However, there are fundamental principles that any sports better should learn and understand and like any other investment, the goal should be to gain profit rather than losses.
