It’s a well-known fact that sport betting is both very popular and both very difficult to become successful at. If we decide to focus on the latter point, we should first prioritize not trying to make money from betting, but rather on not losing it right away. As you may or may not know, even professional bettors only have around 53-56% win ratio, so you really need to pick your bets in order to be successful. We checked out guides from sites like Lazybuguru and other sources to make a short but hopefully informative guide on not losing money in the first few bets.
Firstly – manage your bankroll
All professional bettors manage their bankroll. What does it mean? It means that they have a fixed amount of cash as their portfolio and only place bets that are equivalent to <10% of their bankroll.
This allows you to diversify and minimize risk over longer periods of time.
- 1-2% bankroll should be reserved for average, casual bets
- 3-5% bankroll is placed on your main bet (for the day, for the week, etc.)
- 6-10% bankroll can only be put on something that you are either very sure of or the opportunity seems just very good to pass up on.
If you bet 50% of what you have, you immediately can lose half of your betting power and that’s just not something sustainable for the long-term.
Second of all – utilize bonuses and other promos
Pretty much every betting company has at least a few promo and bonus deals on offer. Both new and returning players can expect to get some kinds of incentives like free cash, discounted betting rates, etc.
How are these bonuses helpful? Well, they can minimize your losses, increase your win rate and improve your total cash winnings down the line. With risk-free bets for example, you can bet as much as 100% of your bankroll without the opportunity to lose cash if you make a mistake on the outcome prediction.
Thirdly – trust numbers, not your gut
Every bettor doesn’t just want to win down the line. Everyone wants to be known as the person with the Midas touch and the instinct to predict outcomes of events almost supernaturally. This is definitely not the way to go, if you’re interested in not losing money. You can be lucky 2, 3 or even 4 times, but if you want to not be bleeding money 24/7, learn to interpret the numbers and to trust them. Being a victim of gut-instinct sport betting is just not wise from a financial standpoint.
Final piece of advice – don’t fall for know-it-all gurus
Yes, you can learn a lot from sports analysts and pro bettors. But, as we’ve stated before, only around 53 to 56% of bets can be winners. You’ll need to place a lot of bets in the right way, in order to not lose money and to be financially stable with your portfolio. Do not believe gurus that are claiming to clean out Vegas casinos for six-figures, etc. Trusting their fake advice is the quickest way to lose money. Instead of that, maybe focus on blogs like gameplay.lt to gather more knowledge on things and interpret information in your own ways to find successful strategies.