“No pain, no gain.”
Or how about…
“You’ve got to risk it, to get the biscuit”
Whether you’re a sports bettor, trader or an investor, to make GAINS you’ll need to be able to handle and take RISKS at times.
Today I want to show you why the risk to reward ratio is CRUCIAL to your sports betting success.
But first take a look at these two pictures…
In the first picture, some of you may see a woman, and others may see a man playing the saxophone.
In the second picture, some may see a duck, while others see a rabbit.
What is interesting about these two pictures is our brains instantly decide what image we see, based on a first glance.
This is similar to sports betting. With every bet we take, we will see and interpret the information according to our personality, risk profile and our perspective.
This means when it comes to a game, we will make a bet and decide what we expect to gain, and what we will be willing to lose.
So let’s get started…
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The risks of sports betting
The main risk to sports betting is obvious.
Betting on sports involves placing real money on the line. And there is ALWAYS a real risk you might lose your money.
It’s just the reality of sports betting.
Even when backing a heavy favourite, winning is never guaranteed, sports are just too unpredictable.
Underdog stories occur all the time.
For example, back in 2015, South Africa faced Japan in the Rugby World Cup.
South Africa were almost guaranteed to win, a mismatch was an understatement.
The odds for South Africa to win were 0.05, meaning R100 would win you R5…
Yes, just R5.
At 0.05 their implied probability of winning was 95.2%.
Not a great return, but backing South Africa to win was a safe bet, right?
Japan managed to best South Africa by just two points, and became one of the greatest upsets in the history of rugby.
So, the main risk with sports betting is that not only are you playing with your hard earned money, but you're faced with the reality that there is no such thing as a safe bet.
Some bets may be safer than others but, no bet is ever guaranteed. I’m telling you this because you need to have realistic expectations when it comes to sports betting.
Losing money is not just a risk, it’s the most likely outcome, and successful betting comes with hard work, discipline and consistency.
There are two other risks associated with sports betting:
• Could cause a range of negative emotions
Even if you are prepared to risk losing, sports betting can become an unpleasant experience.
Now that we’ve looked at the risks associated with sports betting, let’s move onto the potential rewards.
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Potential rewards of sports betting
Much like the most obvious risk to sports betting is losing money, the most obvious reward is also money…
The chance to win money will always be attractive. However, money isn’t the only reward sports betting has to offer.
What makes sports betting different to gambling, is the fact that you have the possibility of winning without relying solely on luck. Your fate is in your own hands and with the right approach, strategy and discipline, it’s possible to win money on a consistent basis.
This doesn’t mean it’s going to be easy though.
To become a successful sports bettor, it’s more than being knowledgeable about the game. You need to understand the concept of value, and the risks associated with sports betting.
If you can put in the necessary time and effort, the financial rewards will certainly be worth it.
We will guide you through the process and help you along the way to becoming a profitable sports bettor.
Until next time,
Head Tippster, The Winning Streak Team