So as with any endeavour, there is a risk and a reward.
Whether it be investing, betting or jumping off a bridge with a bungee cord around your ankles, you have to weigh up the reward in respect to the risk.
And yes, you have to respect the risk you take, or you’re just looking to throw money away.
So, what is the advice I whispered into his ear?
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I pointed out that his betting strategy had a flaw, and a big one at that.
You see, his success rate was a great 75%, meaning he won 75% of all his bets placed.
But why was he in the red?
You see, the odds were not in his favour, with a majority of his bets giving him a point outcome of 0.5.
Meaning if he bet, R100, his profit would only be R50.
Can you spot the flaw yet?
If not here, it is…
Lets say he lost that bet.
He would be R100 down, and according to his strategy, it would take two successful bets of 0.5 just to make up the one losing bet!
Not only would both bets have to come out successful, but he would have had to risk R200, R100 per bet.
The knock on effect if he lost one of the bets would still have him in the red!
So this goes back to my first point regarding risk vs reward.
When it comes to sports betting, your reward should always outweigh your risk.
If you bet R100 per point, your strategy should reward you with more than what you put in.
This way you never chase your losses and the risk vs reward, starts acting in your favour.
This little piece of advice has seen him get out of the red and into greener pastures and I hope this advice will help you to.