Before you log into your online sports book account, you need to remind yourself of the risk involved with betting on sports. Many a sports bettor has fancied himself to be a successful, astute sports gambler only to be eventually taken to the woodshed and rendered broke. Under no circumstances should you ever wager more than you can afford to lose. As long as the risk is understood, there’s a decent chance the risk can be managed and minimized with good betting practices.

Systems Don’t Work

For generations now, sports bettors have looked for systems that might become the holy grail of sports betting. Once in a great while, a popular system will render positive results, but it’s usually nothing more than a temporary violation of the laws of probability. Bookmakers stay in business by making money. They do this by setting lines and creating odds that favor the house. Over an extended period of time, the bookmaker will get the money.

Managing Risk

If you can get past worrying about what bookies do, you stand a better chance of learning the discipline needed to win your fair share of bets. Setting aside any type of formal betting system, here are some guidelines that might help you minimize losses long enough to hit a nice winning streak.

1. Avoid Parlay and Prop Bets – As a bettor, you will find yourself sacrificing a great deal of value should you attempt to secure bigger returns by betting on parlays (accumulators) and/or prop bets. The incremental increase in risk over reward makes these types of bets untenable. Instead, you should stay with straight bets.

2. Using a Flat Betting Amount – Most betting systems call on bettors to increase or decrease the amount being wagered based on some type of criteria that rarely makes good fiscal sense. A far better alternative would be for you to establish a constant amount you are going to wager on any game or match. It’s easier to limit losses and grind out small wins using this methodology.

3. Managing the Bankroll – Your bankroll should be viewed as a finite amount of money you are willing to invest as a sports gambler. Much like the stock investor who is encouraged to diversify his portfolio, you don’t want to put your entire bankroll at risk in a single bet. No single bet should exceed 3% of your bankroll. By prolonging the time you can stay in action, you significantly increase the likelihood you might hit a winning streak.

Time and again, it’s the disciplined, conservative sports bettor who eventually gets the opportunity to see their bankroll expand. Developing betting systems and analyzing data are nothing more than a waste of time if you’re not going to manage your risk. If you want a big return, you might be bettor off playing the lottery. If you are willing to grind it out in the trenches and settle for smaller returns, you will find you are also avoiding unreasonable risk in the process.