Sports Gambling – How to Know How Much to Bet Per Event

The most common mistake amateur and professional sports gamblers make is betting too much on individual events. A simple hard and fast rule is to never bet more than 2.5% of your sports betting balance on any given sporting event. However, before we get to the details of how much to bet there are a few basic rules that any sports gambler must remember:

Rule 1: NEVER bet more than you can afford to lose. This is the one rule that too many people ignore before it is too late. Ignoring this the rule creates all the horror stories. In sports gambling you must remember that there will be hot streaks and cold streaks and you do not want to subject your rent money or mortgage payment to any risk what-so-ever. If the money you are using to gamble is earmarked for a necessity then you should not be gambling with it. Only gamble with discretionary income.

Rule 2: NEVER bet with your heart. This, again, is one simple rule that many gamblers seem to ignore. If the Dallas Cowboys are your favorite team, you must recognize (despite what you may think) that you WILL be biased in trying to determine the winner of any of their games. The common (mistaken) logic is that because they are your favorite team you know more about that team and therefore, you should be able to make a determination about the winner of their games. Nothing is further from the truth. The problem with this logic is that you listen to biased Sports Radio regarding your team, you read biased Newspaper articles regarding your team and most importantly, you are biased about your team. The best rule to follow is to avoid betting on any game that involves a team that you have ANY allegiance toward.

Rule 3: NEVER bet on a game because it is on Television. It is okay to bet on a game that is on Television, but do not bet on a game SOLELY because it is on television.

Rule 4: ALWAYS bet the same amount on every event that you bet. To state it differently, do not play $250 on Pittsburgh versus Dallas, $150 on New England versus Indianapolis and $500 on Oakland versus Chicago. The only reason Sports Gamblers do this is because they feel more confident about Oakland versus Chicago, less confident about Pittsburgh versus Dallas and slightly confident about New England versus Indianapolis. All too often, the “best” pick of the day, turns out wrong, a back door cover creates a loss or a late interception causes a change in the result of the game. DO NOT FALL FOR THE 5 STAR LOCK OF THE DAY. This is why: Say Steve bets $500 on Oakland +7 versus Chicago; $250 on Pittsburgh +4 versus Dallas and $150 on New England -3 versus Indianapolis. Further say Tom makes the EXACT three same picks, but bets $300 on each game. Both gamblers have bet $900.00. Assume Oakland does not cover but Pittsburgh and New England do cover. Steve won 2 games and lost 1, but has lost $100.00 ($250+$150-$500). Tom on the other hand has won 2 games and lost 1, but has won $300.00 ($300+$300-$300). There is nothing more frustrating than having a winning percentage, but losing money.

Rule 5: NEVER bet more than 2.5% of your bankroll on any single event. If your balance in your sports betting account is $1000.00 then you should bet $25.00 per game. The reason is very simple. If you bet $25.00 per game you would have to lose 40 straight games before your account busted. If you bet $100.00 per game (10% of your balance) you would only have to lose 10 straight before your account busted. In other words, by betting 2.5% of your account balance on any given game, you INSURE yourself that you will be able to withstand even the worst losing streak. Make sure that you follow Rule #4 as well…Do Not bet more money on one game and less on another.

Rule 6: Once you increase the amount you bet per game, DO NOT reduce the amount you bet per game. Further, you should only increase the amount you bet per game once you have increased your bankroll by 25%. Taking our example above further. If the bankroll is $1,000.00 then the bet is $25.00 per game UNTIL the original balance is increased to $1,250.00. At this point, the amount bet per game is increased to $31.25 per game (or 2.5% of $1,250.00). You would continue at this amount until the balance is increased against by 25% (to $1,560). If you would begin to lose and you fall below the last benchmark YOU DO NOT REDUCE the amount bet per game. If you do, you will find yourself in a never ending cycle.

Following these 6 simple and rather basic rules you will find that sports gambling will become less stressful and more fun.

The Eight Basic Rules of Sports Gambling

The below are the rules that avoid most common mistakes made by sports gamblers. Follow these 8 basic rules and you will find your sports betting balance growing quickly:

1. Never, no matter what, bet more than you can afford to lose.

2. Always bet no more than 2.5% to 3.5% of your balance per wager. For example, if your wagering account balance is $1,000.00. You would not bet more than $25.00 or $35.00 per bet.

3. Only increase the amount you bet per wager once you have increased your balance by 25%. For example, if your starting balance was $1,000.00 you would bet $25.00 per bet until you reached $1,250.00. At this point you would increase the amount you wager per bet to $31.00 per wager. You would continue to wager $31.00 per bet until your balance increased again by 25% (when it hit $1,560.00).

4. Never decrease the amount you wager per contest. This is a sure fire recipe for dissaster.

5. Always play the same amount on every wager. In other words, do NOT play $25.00 on one game and $15.00 on another game. Bet 2.5% of your balance on every play you make.

6. Do not play parlays. Parlays have great payouts, but the odds of winning and the Return on Investment (ROI%) can be poor. If you want to play a parlay for the potential big payout, play less than 1% of your balance on the parlay.

7. Track your Return on Investment (ROI%). Return on Investment is a mathematic formula that tells you how much money you win for every dollar that you bet. For example if your ROI% is 50%, then for every $1.00 you bet you win $0.50 (or for every $100.00 you bet, you win $50.00). ROI% is expressed as a percentage and is figured by dividing the total amount of your winnings by the total amount you have wagered.

8. Track your ROI% on each sport individually. You will learn your strengths and weaknesses.

The Basics of Online Sports Betting – Learning the Specific Bets

Online sports betting is expanding everyday and it’s not hard to understand why. It combines two all-time favorite past-times – sports and taking risks. We can’t all play professional sports. Most people can’t take weekly trips to Vegas. But thanks to online sports betting you can have the thrill of watching sports and winning money at the same time. All in the privacy of your own home! It doesn’t get much better than that.

Before you start placing bets you need to understand a few of the basics. This article gives you an introduction to the terminology used in online betting. You don’t want to make any bets that you don’t completely understand. Here’s where I wish to emphasize another good word of advice, always search out the top spots betting advice and assimilate that advice before you place any money on the line.

Straight Bets – With a straight bet you’re simply betting on a team to win. The amount of points a team wins by doesn’t matter. If the Cowboys and Jaguars are playing you simply bet on which team you think will win. This is the most basic bet.

Betting a side – This is similar to the above bet. You’re choosing a “side” or a team you think will win.

Point Spread Betting – A sports book will list which team is the favorite to win a particular game. They’ll also show the estimated amount of points they’re expected to win by which is called the spread. So they don’t just say the odds are on the Cowboys to win. They’ll say the Cowboys are expected to win by 7 points or 11 points, etc. If you bet on the Cowboys to win but they only win by 5 then you haven’t won your bet. They didn’t win by enough to cover the spread.

Against the Spread or ATS – This is similar to the above bet. Instead of betting just on who will win, you’re betting they’ll win by more or less than the amount of the expected spread. I think you are beginning to see why I insist that you find the top sports betting advice. In your research look for a system, a proven system where the promoter of the system has a dedicated following of winners. At the end of this article I will point you to one, but there are dozens more. Find the one right for you.

Over/Under bets – As well as listing a favorite team and the point spread they’re expected to win by, the oddsmakers will also list a total over/under score. This is the total amount of points the teams will score during the game. If the number is 47 then they’re anticipating both teams to score a combined total of 47. If you bet “over” then you’re betting the total score will be over what’s expected. If you bet “under” then you’re anticipating the total score to be less.

Parlays – Parlay betting is when you group several bets on one ticket. Let’s say you make three bets, but instead of placing them separately you place them all on one ticket. If you win all three the payout is greater than if you’d played each bet separately. However, if you lose even one bet the parlay is a loser. You must win every bet on the card.

Future Bets or betting “Futures” – A future bet can be a profitable bet for small bettors but the odds are high. It involves betting on a game such as the Super Bowl while the season is just beginning, etc. You’re betting on which team will win a future event before it’s even been decided who will play in the game.

There are many other variations of bets but this gives you the basic online sports betting terminology to understand the most popular bets.

Sports Betting Money Management Secret

It can be extremely dangerous to bet out of control. Take my word for it, do not learn this lesson through experience.

Here is the #1 Law of money management: Never Gamble With Money That You Cannot Afford To Lose.

Successful sports bettors all have at least this in common – they know how to properly manage their money. Superior handicapping/betting skills alone do not make one a winning player. To win, you must want to win bad enough so that you will be careful enough not to give your money back to the bookies.

This is a very important concept. Once you have won money from a bookie or sports book, that money is yours. Keep it that way. Subconsciously, the bettors that think of the money as not belonging to them tend to give it back immediately.

So start training yourself to think of the money as yours as soon as it has been won – because IT IS YOURS! Now you will not be so quick to give it back.

Also, do not gamble with needed funds no matter how “sure” the bet may seem at the time. The possibility of loss is always very real. And by loss I mean financially and emotionally. Gambling with money that is necessary for something else is a sure fire way to get yourself all emotional about it. And then who knows how desperate you will get.

Playing under escalated anxiety not only ruins all the fun and stresses you the hell out, but it also probably destroys your ability to make sound decisions and win your bets! That’s right. Bets made under duress and usually bad bets. So play the game strategically so that is easy for you not to get emotional.