Return on Investment, or ROI, is one of the most critical figures in any business opportunity or financial matter. You should always know the ROI that is involved with gambling on sporting events. Regardless of how long you handicap games, if you don’t understand the return you can expect for your investment based on the sportsbooks juice and the risk of each game, you probably won’t be a successful sports investor.
Why are you betting on sports?
Why are you sports betting? Are you just looking to have some fun? Are you trying to make games more exciting? Are you trying to make money? Or are you trying to make a living off sports betting?
Betting is an investment, think of sports betting just like you would about investing in the stock market.
You are the business owner, you make the decisions, your bankroll is your product. When you see a good opportunity, you might want to put your max wager a little higher. This means if you see a great line on a game that you researched and systems hit, take advantage. Determining why you are betting on sports is a big part of maintaining your bankroll. All gamblers want to risk big and get rich quickly, but setting a set of guidelines for your bankroll will avoid losing all your money due to a “good feeling” or an emotional wager. Determine your bankroll, determine your bet size, maintain your bankroll, follow it.
Relating Sport Betting to the Stock Market
Do you invest in the stock market? Well handicapping sports is similar. A sports bettor is just like a stock investor. A stock investor risks his own money and buys stock in a company that he believes is performing well. You can easily relate that to a gambler who risks a portion of his bankroll by placing a bet on a team instead of some sort of product. For both the stock market investor and the sports gambler, good performance on the part of the stock (or team) leads to profits for the investor.
But investing in the stock market is profitable and sports investors usually lose money, right? Well that depends. Sports bettors often fail to look at their investments in sporting events with the same focus as someone who is investing in stocks. When you invest in the stock market, you buy shares at a company depending on what they are currently trading at in hope that the stock price will increase and you will be profitable.
In comparison, people who invest in sports will often place their bets based on things like emotion and gut feelings rather than research, discipline, and the long view of their financial investment.
Volume betting and not being able to manage your bankroll properly are two of the reasons why sports investors will fail. You should learn what it takes to gain a profit over the long run, rather than trying to win each wager that you place throughout a day.
You should understand the impact of ROI, have a strict bankroll, a standard bet size, and disciplined betting behavior. If you combine those strategies with the ability to do research with systems, and shop for the best lines, you have created a formula that will give you an advantage to consistently win.