I have had a lot of questions this month from new bettors and I thought that it would be a good idea to write an article that outlines some of the steps you need to take in order to stop losing.
To begin with it is very important that you understand that betting is not a get-rich-quick scheme. Whatever you may be told by system sellers, there is no way to make a fortune using £50 in just 3 weeks, or at least if there is then I have never managed to find it!
So what exactly is betting profitably? It is a form of risk investment and this is how you must envision it. It can be likened to playing the stock market or any other type of investment. You would not expect to buy £50 of shares and be able to cash out £2000 in three weeks and neither must you think like this because you are putting the money on a horse instead of shares.
Let me start by explaining what makes investing on sports betting a more attractive proposition than other risk investments. It is simply because the turnover is very high.
What this means is that you may put £50 into another risk investment and you take it out 3 months later, 6 months later or longer at which point you have either made a profit or loss. With horse racing you invest your £50 then you know in 5 minutes if it has won or lost and you move on to the next investment. Other sports may take longer but overall it is a very short term prospect.
What this means is that you can turnover your bank very quickly. A quick example would be if I was to bet £50 per bet and I average 4 bets a day then I am betting £200 a day. If we look at this over a month then we are betting around £6000 per month. Let us assume our bankroll was £5000 then we have bet more than our total bankroll every month whereas in another form of risk investment we may only be able to bet our complete bankroll once a year, possibly less.
Remember that your return on investment is based on the amount of money bet, not the size of your bankroll. This is what makes sports betting a good method of investment if you can make the profit. Of course if you can’t then you will be losing money much faster instead.
Now that you are looking at sports betting as a form of investment I want to discuss what seems to be the single biggest mistake of newcomers to betting professionally.