Gambling Tips for Success
by Doc - 09/05/2006
One of the biggest questions any gambler faces is, "How many games should I bet on any given weekend?" To be honest, any one you talk to will have different answers and advice. Some of the most successful gamblers I've known over the years have no set limit. In fact, some of the most successful gamblers in Las Vegas will often bet 20 games or more any given weekend.
Then there are those who believe the theory that betting 1-3 top games each weekend gives you a greater opportunity to hit a higher percentage and turn a bigger profit. I concede that playing fewer games allows someone a better chance to hit 70 percent. However, I cannot accept the statement that one will make more money by doing this. Personally, I think that a bettor should play any game that he feels there is an edge on his side, or any game that he feels there is an excellent chance to win.
The major difference between these theories revolves around money management. Someone that bets $300 on just two games knows that, worst-case scenario, he's out around $660. But if that same gambler plays eight games at $300 a pop, he faces the possibility of dropping all of them for losses up to $2,640. That type of hit could knock our friend out for the season!
Let's look at another example. Suppose the same gambler decides to bet two games per week over 12 weeks, which would total 24 games. Let us say he goes 16-8, hitting on 67 percent of his plays. By betting his usual $300 per game, he would accumulate a profit of around $2,760 after the juice.
Now, let's say the same gambler bets 10 games per week over 12 weeks, but hits only 60 percent of his wagers. That would leave him with a mark of 72-48 over his 120-game session. Since he is playing a greater number of games he decides to risk less, playing only $200 per game. At that 60-percent clip, our friend would have raked in $3,840. As you can see, that's nearly a 30 percent difference in profit.
As I mentioned, many gamblers don't restrict the number of games they bet. Obviously, someone will make more money if they hit 60 percent of 200 games rather than 60 percent of 100 games. But where so many people run into trouble is with the money management aspect or trying to bet a large number of parlays.
Most professional bettors shy away from parlays completely because they have such a low rate of success. The high payouts are enticing - getting 6-to-1 on a three-team parlay seems attainable - but over the long haul parlays are a drain on a gambler's bank roll. The key in selecting games isn't looking to make a big splash; it's finding a slate where you feel like you have a chance to win 60 percent, not just finding 10 games to fill in a certain number of slots each weekend.
I don't think that the amount of games a bettor chooses to play is that big of concern. The focus should be more on trying to keep that winning percentage around 57-60 percent. Some weekends that might mean betting just five games, and others that might mean betting 15 games. But no matter how many games you wager on, the bottom line is that it's all about what percentage you are winning.
As I said, if you are hitting 60 percent, the more games you bet the more money you will make. But that works the opposite way as well. If you're trying to play 200 games a week just to fill the slots you're going to go broke quickly. Bet only the games you feel you have an advantage on. In the end, money management, discipline and having a knack for selecting games at the right number will all maximize your profit for this upcoming football season.