Why Slow & Steady is the Key to Sports Betting Success

The average sports bettor may find it difficult distinguishing between fact and fiction with all of the hype out there in the media, with the  “Guaranteed Locks of the Year” or the “10 Star Locks of the Week” .They fall into the trap of believing that it is possible to turn a tiny amount of money into thousands overnight.Unfortunately this is not the case.If you really want to be successful with sports betting then you need to start thinking of it as a marathon and not a sprint.Like the kids story The Tortoise and the Hare, slow and steady wins the race. 

Every month I’m asked by bettors if it is truly possible to make money from sports betting and my answer is always the same: Yes with a big BUT.You need to be very disciplined, properly manage your bankroll and to have a winning sports betting system.What they are really trying to find out is that without putting in a lot of effort, if it is possible to make a lot of money betting on sports.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 betting on sports.Below are two options that you have to achieve this goal. 

Option1 – Choose a game to bet on from your favorite sport.Now just place a bet of $11,000 on your favorite team and hope for the best.If the team wins you just made your goal of $10,000.Unfortunately if you lose your are down $11,000 which is far from reaching the $10,000 goal.This is called gambling and is NOT the option that I recommend.You can win a lot of money very quickly or lose it just as quickly. 

Option2 – Instead of risking all of that $10,000 from option 1 on just one game, spread it around on several games.My recommendation would be to bet 5 percent of your bankroll on any given game.The goal is to create 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 2 games per day and a total of 14 games 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 bankroll.I don’t know about you, but I like the safe and sure way and the best 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 teams 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.