There are a lot of different sports betting strategies out there. What’s to say that one is right and another is wrong? A betting strategy is right if it is effective and wrong if it’s ineffective. In any line of work that involves strategy there are various ways to attain success. As an example that we can use when thinking about sports betting strategies, let’s consider how various stock analysts might work.
Analyst One may focus on stocks with low price to high earnings ratios. But, Analyst Two might be interested mainly in stocks that are projected to be big winners over the course of a few years—those that will show slow but steady growth. Then there is Analyst Three who focuses on companies that have excellent management and R&D personnel. He buys stocks based on a company’s ability for future growth and efficient performance.
Analyst One may make cash through good times when growth is strong only to see low priced, smaller companies falter in a bad economy, while Two will see success as long as the companies continue to find new ways to expand while developing a loyal following. Three may see success through good and bad times due to the fact that the stocks are from companies that are lean and forward-looking.
Upon what is success based? It is based on Solid Strategy + Market Variables + Duration = Success. What equals failure? Unsound Strategy + Market Variables + Duration = Failure. The basic idea here is that good strategy results in success. The other part of this equation that is unexpressed is that long-term success is predicated on the ability to change your strategy to meet Market Variables.
For the sports bettor the same is true. If you can use a Solid Strategy you will have Success, which comes in the form of making money. There are a few important things to remember when it comes to sports betting and strategy. First, not all strategies are created equal, which means that it may take some time for you to find a handicapping strategy that works.
The second thing to remember is that strategies such as the Martingale, that are based primarily on happenstance, don’t take into consideration matchups or any other aspects of the sport on which you are betting. Remember that the Martingale is for even odds bets and it’s a system that demands you try to win back loses by doubling your wager every time that you lose.
If you don’t know how the Martingale works, here’s a quick synopsis. Who knows, you could be using it without even knowing what it’s called. The Martingale is a system that was developed in France over 100 years ago. It’s actually a fairly complex system of which today one part is used by sports bettors.
With this system, you place your first bet. Let’s say your unit is $100. If you win, your next bet is also $100. If you lose, the next wager you place will be double your first bet. So, if you bet the New York Giants for $100 and you lose, then your next wager on the Green Bay Packets would be for $200. (If you had won that wager in the Giants, you’d be betting $100 on the Pack.)
If you win the bet on Green Bay, then you go back to wagering $100 on your next bet, but if you lose, you double your bet again to $400. The process continues until you win and recoup your loses. Once you win, you go back to your original bet.
There are three major problems with the Martingale System. The first is that you are basically chasing losses with the likelihood that you will dig a deeper hole. The second is the system is asking you to increase your risk each time you wager in an attempt to come close to breaking even on one bet. This is terrible sports betting money management. The third problem is it asks you to leak larger amounts of cash, risking the overall fiscal health of your bankroll. None of these are sound betting strategies.
What should you do instead of using the Martingale System and other similar systems? Work to find a real handicapping method that works consistently and that is based on matchups, statistics, facts and trends.
Once you discover a handicapping method that does work you want to constantly work at refining it and adjusting it to developing circumstances. You need to realize that last year’s strategy may need to be tweaked for a new season as coaches develop different schemes, rules changes are put into effect and new teams enter the league.
Of course if you go with a professional handicapping service, they will have their own way of doing things that includes the utilization of various analytical tools. If you do hire a handicapping service, sports bettors need to be aware that like anyone else, they will have good and bad days.
The primary thing to remember is that if you put junk into your analysis junk will come out. You need good stats plus facts and insights and once you’ve accumulated them then the numbers have to be properly crunched. A solid strategy is key in ensuring your success as a sports bettor. Without one, you’ll have a tough time winning consistently and staying in the mix.