If you have been involved with sports betting for several years or just getting started I am sure you have seen companies advertising their pick services in your local newspaper, online or even on television. A lot of these ads are offering guaranteed games or claim winning rates of 80% and above. If you see these types of services, you should run in my personal opinion. I don’t care what they say, No One wins 80% – 90% of their games.
Does that mean that you can’t make money with sports betting? In short the answer is No, it is definitely possible to make substantial profits from sports betting, but you need to be realistic. If you have the proper discipline, manage your bankroll and following a winning sports betting system then creating a substantial passive income from betting on sports can be a reality. Knowing the magic # is the key.
So what is the magic #? The answer is 52.4%.If we use the most popular sports to bet on like NFL and NBA a normal bet would consist of betting against the spread with odds of 11/10 meaning that you would have to wager $110 to win back $100. What this means is that you would only have to win 52.4% of your bets to actually break even.Although hitting 80% plus winners is virtually impossible over the long haul, the good news is that anything above 52.4% will be profitable. Although winning 55% doesn’t sound that exciting, you can experience some really substantial returns each month.
Let’s use a 55% win rate and wagering on 2 games each day for this example. Here is what the results would look like after one month:
Win Rate 55%
# of Wagers 60 games (2 per day X 30 days)
# Wins 33
# Losses 27
Minus 10% Vig* 2.7
Total Wins: 3.3
*Vig is the % that the online sports books keep for accepting your wagers. Usually 10%
So what does this mean? Well with these numbers a $100 bettor would be up $330 profit after the month and a $1,000 bettor would be up $3,300. Not bad for a few minutes work each day, but let’s look at what this means in ROIpercentage (Return on Investment).
What I personally use and recommend is that if you are going to be flat betting or making the same size wager on each game then you should be using no more than 5% of your total bankroll. So if you have a total of $1,000 then you should be wager $50 per game. By sticking with the same numbers as the example above of +3.3 games this would actually be a gain of $165 and a return of 16.5% on your money in just 1 month. Compounding that over a full 12 months translates into over a 600 percent return on your money. I don’t know about you, but these are some incredible returns. Compare this to other investments like the stock market or the bank and you can clearly see that sports betting is a viable option even using a conservative example. Now imagine a 56% win rate or even 60 percentage.
‘Backing a team to win’ is a common term used in betting. In the olden times, only this kind of betting used to take place. Traditionally, a bookmaker was involved in such type of a betting process. Actually, he/she was the one to carry out the whole transaction for you. It is here that these bookmakers tried their best to deceive the innocent people. Now is the time, when everything is done without any hassles over the Internet. There are plenty of online betting exchange sites that allow you to indulge in bet exchanging and change your destiny. Bookmakers are now out of the scene and that is a plus point for bettors.
In simple terms, backing can be defined as the act of making your selection and betting on it. When you back a team to win, you place your bet predicting that your chosen horse will win in the race. You can place bet on other sports as well. The main thing to be emphasized here is that you predict the outcome of the game as to who will be the winner and place bet on it. When you exchange bets, you have the liberty to demand a higher price. For doing this, all you need to do is simply click on the back button and fill the figure of your choice. Once you have entered the figure revealing your bet, it will then shift to the lay section. If your bet price matches with the laying price of other bettor, your bet will be placed. In other case, if there is nobody to lay your selection, then you will have to either lower down your bet price or take what has been offered. It all depends on how enthusiastic you are and how you perceive things.
Let us try to understand the above mentioned concept with the help of an example. Let us suppose that the best offer in the market for draw at France vs Italy is 2.80. At this point of time, you need to go through betting exchange rates. Let us consider that you succeed in finding an odd bet of 2.90. Now this kind of a bet can certainly be considered and you can think of backing or buying the bet. The procedure is almost similar to what was practiced earlier when bookmakers were involved.
In case it happens that you select an event, make selection, place bet and make a clear cut mention of your stake but are not satisfied with the final result, then you have the option of back order available with you. Let us consider for a while that you are happy with the available odds and your desire is to bet at odds 3.10, then you can place the order for backing at 3.10 by putting 100 pounds on stake. In this situation, you will have to wait for the time till you succeed in finding a punter who is ready to draw the match at 3.10 by laying 100 pounds. If someone is ready to match your bet deal then your bet can be placed. If you find a bettor who is ready to put 30 pounds on stake at 3.10, then for the left 70 pounds, you need to look for another bookmaker who can lay bet at 3.10. This is how backing is done.