| Betting
How Much Should You Bet?
The
answer to this question is going to lie somewhere
between your aptitude for risk and your reasons for
betting
Sports Betting for Entertainment
Like most forms of gambling, money management is an
important element of sports betting. At the outset, it
is important to define your objective.
For many people, sports gambling is primarily
entertainment. You might have a small budget set aside
for your favourite sports season and you simply want to
place some bets every week to add excitement to watching
the games. Of course you want to win your bet, but
losing the bet is not the end of the world.
For this type of sports betting, you may want to use a
simple budgetary type of money management. Give some
serious thought to your budget for the season. Then
divide that budget by the number of weeks in the season.
This is your betting budget for the week. Stick to it
even when you come across that game that you think is a
sure thing.
If you like, you can readjust your budget by adding your
winnings to your remaining budget and dividing the total
by the number of weeks left in the season.
Recognize that if you do this, you increase your risk of
volatility.
You will have larger bets being placed on fewer games.
Therefore, it is more likely that you will have won more
money or lost more money at the end of the season. The
more conservative strategy is to avoid readjusting your
bets and place smaller bets over the entire season.
Sports Betting for Professionals
The professional sports gambler is interested in
maximizing his betting return. This requires a more
disciplined approach to sports betting that primarily
focuses on spreading smaller bet amounts across a larger
number of bets. The goal here is to minimize volatility
and never put the bankroll in jeopardy.
You will generally want to keep your individual bets to
less than 3% of your bankroll, with 1% to 2% being
ideal.
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