Why Slow & Steady is the Key to Sports Betting Success

With all of the hype in the media today with the “Guaranteed Locks of the Century” or the “10 Star Locks of the Week”, the average sports bettor may find it hard distinguishing fiction from reality.With the promises of turning a small amount of money into $1000’s overnight clouds their judgment.Unfortunately this is not the case.To be successful with sports betting you need to treat it like a marathon and not a sprint.Slow and steady wins the race, just like that kid’s book The Tortoise and the Hare. 

I am approached by bettors 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 very disciplined, properly manage your bankroll and to have a winning sports betting system.What they are really asking is if it’s possible to make a lot of money from sports betting very quickly with no effort.To this question I can honestly answer Yes and No. 

So let’s say you decide to make your sports betting target $10,000.Here are the 2 ways that you can go about achieving this goal. 

Option1 – Choose a game to bet on from your favorite sport.Pick the team that you want and bet $11,000 and cross your fingers.If you are lucky enough to win this game, your $10,000 target has been accomplished.If you end up losing this bet then you would have lost $11,000 and a mile of away from the $10,000 goal.This is what is known as gambling and NOT the option that I recommend.You can win a lot of cash quickly or lose it just as fast. 

Option2 – Instead of risking all of that $10,000 from option 1 on just one game, spread it around on several teams.My suggestion would be to bet 5% of your bankroll on any given team.The plan is to use the power of compound interest with small gains to obtain the $10,000 objective.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 percentage 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 sticking with this conservative example of increasing your bankroll by 7% per week and a winning percentage of 57%, you can obtain that $10,000 goal in just under 11 weeks.Although it takes a bit longer, it comes with much less risk as you are never really risking your budget.I’m sure you would agree that this is a much safer method and the great part is that once you increase your banrkoll by 100% you can now adjust your betting amounts from $500 to $1000 per game as that would be the new 5%.

Now just imagine if you bet on more games per week and that you could increase your winning percentage to 60%.The 100% increase could be achieved in much less time than the 11 week example 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.