Sports betting is the type of activity that – besides being fun – has the potential to provide someone with a steady income. Sharps, who make a living off sports betting, will tell you that there are so many variables in this game, one has to be a born sports nut to be able to cover most of them, and they're probably right.
Heck I don't consider myself a "sharp" yet still I can think of a whole bunch of things that influence one's betting game in the longrun.
First and utmost: handicapping. Handicapping alone, being the science that it is, involves a plethoria of different variables, and so many subtleties, one has to be a master to weigh them all up well.
The sad truth however, is, that being a really good handicapper might just not be enough to make someone a winner in the long-run.
Hunting for the best odds ( today's internet-powered communications age makes it possible for someone to chew up an astonishing amount of odds-related information in a freighteningly short period of time, online sportbooks and different online casinos are just a click away at all times) is another factor in this game.
There are, though, many other elements that need to work in unison with a good handicapper and odds information to make things work.
One such – often overlooked element – is betting-bankroll management. There is no doubt about the fact that anyone looking to make sports betting a profitable business should look at it as an investment.
Keeping the money destined to be used for sports betting in an altogether separate bankaccount - just to make sure no mixups happen – is not such a bad idea either.
One very delicate thing concerning money management is the amount ( or rather percentage of one's gambling bankroll) one is prepared to bet on any given game.
According to sharps the amount of money one bets on a single game should never exceed five percent of one's bankroll, no matter how much of a "lock" the given game is hyped up to be. First of all, any sportsbettor who is not a complete newbie and a bit low on the grey matter on top of that, should know that "locks" simply do not exist. The 'lock' is a concept invented by 'scamdicappers' to confuse and rip off innocent souls, foolish enough to venture into a deal with them.
Secondly, betting around 5 percent of the roll on a game is about reasonable in the sense that if one wins it'll be a significant-enough win to positively impact the bankroll, but if one loses it's still only be a moderate setback.
There will definitely be wining and losing streaks even for the most skillful of bettors. It is a fact of life and one should do better to accept it for what it is.
Staying even lower – in the 2-3 percent range – is paractically a guarantee that one's bankroll won't fall victim to a paricularly vicios losing streak.
Last but definitely not least there's self control. One's bankroll is as good as fried if he/she cannot control him/herself and gets pissed at the sight of his/her bankroll running thin as a result of a few losses.
Rushing to make up for the losses fast, is the worst kind of strategy one can adopt in this respect. It'll only lead to more losses and to a faster end to the money alotted for sports betting. In sports betting, results should be considered for weeks or for months, not for a day or a few days. Don't get too cocky if you hit a good winning streak either. It is bound to bounce back sooner or later the other way. What you come up with, on aggreagate, at the end of the month is what really matters, a "sensational" one-time win is little more than something to grant you bragging rights in the local pub.
Keep focused, exercise self control and sports betting might be one of the better investments you ever make.
-Written by James West