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The Sports Bet Guide  

Your Daily Online Source for What to Bet, When to Bet & How to Bet It!

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    The Ball Street Journal Vol 1 Issue 2

    The Ball Street Journal Vol 1 Issue 2
    Written by Terry Shilton    Friday, 07 August 2009 04:54    PDF Print E-mail
     
    The Risk vs. Reward questions is the chicken and egg of sport betting, which came first, what is more important even for seasoned handicappers this riddle can be difficult to crack...
    In it's simplest and idealistic form a bettor should bet when the risk equals the reward.
     
    Easy enough to say but very difficult to do we all have biases that can quickly enter into the equation favorite or home teams that we just can't wager against, a tendency to chase loses with higher riskier wagers in an effort to win back our money, and sometimes just get caught up in the sheer thrill of the action.
     
    I myself am not immune to these, but have learned over time and have developed a plan.
    1. Go From Fan to Fanatic - most handicappers start with a love of sports but it's more of a recreational thing, you won your fantasy football pool, you can name a lot of players. Pick one team at first and watch every game commit to learn every player than expand your knowledge over time; but start slow and bet what you know
    2. Manage Your Money - Small gains not big swings, anyone can throw money down on a coin toss and hope, if your up or down stick to a game plan you will not win it all back, think of yourself as a lead off hitter, the more base hits I make the more I'll score.
    3. Understand Odds -  Sportsbooks often use -110 odds meaning games the think could go either way 50/50 you need to bet 110 to win 100 so your break even is not 50% but 52% or 11 out of every 21
    If you start with these three things you should be able to manage the risk vs reward and it's impact on your bottom line but commit to learn and take the time you need, everyone learns at different rates and mine certainly cost me some money but think of it as part of the process.
     
    Winners are workers, you aren't born with it - You Work For It
     
    Quick News - It is rumored that the Sportsbook Bodog will be accepting Canadians for the first time at the start of this NFL season.. I will bring you more on this as it develops but that is great news for Canadian bettors as Bodog is possibly the best sportsbook for recreational players anywhere. 

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