Gambling is sometimes defined as entertainment for people who don't understand mathematics. Everyone has heard stories about a basketball bettor who has a great streak...but streaks tend to be relatively shortlived. Ultimately, bettors generally end up in the red.
But, losing is not inevitable. A small bettor can make a little money wagering on basketball. In fact, while others continue to lose, a few people, albeit a small minority, do win fairly consistently.
Sports bettors...those who successfully wager on basketball or any other sport...tend to adhere to a pretty similar set of guidelines. Here are some good gidelines for basketball bettors.
1. Decide on a budget at the beginning of the season. Determine how much you want to bet on individual games, and the maximum number of games on which you will wager. Your budget should be low...an amount of money you can afford to lose without hardship. If at any point you are tempted to increase the maximums you have set, stop gambling immediately.
2. If you care about winning, be thoughtful and analytical. Choose a bit as you would choose any other investment.
3. Limit your selections to games on which you are the most confident. It is much easier to win if you try to select only a few winners.
4. Lots of bettors make decisions on the basis of, "gee whiz" information. Remember that current trends mean far more than historical trends. Because two teams have played each other closely for five years may not mean that will be the case this season, for instance.
5. Analyze your wins and losses to see if your methodology needs adjustment. Do you do better when you weigh guard play more heavily? Should you pay more attention to offensive rebounding statistics? Are you under or over weighing coaching? Are you betting too often on teams you like or teams in the more highly respected leagues?
6. Be sure to appropriately factor in the homecourt advantage. In no other sport is playing at home as large an advantage as it is in basketball (especially college basketball).
The reality is, you may very well be able to win bets against your friends if you follow the guidelines above. And, even if you lose a little every season, you can have a lot of fun. Just don't think you can win betting against the pros. Small wagers can make watching a great game even more fun, large wagers are for fools.
But, losing is not inevitable. A small bettor can make a little money wagering on basketball. In fact, while others continue to lose, a few people, albeit a small minority, do win fairly consistently.
Sports bettors...those who successfully wager on basketball or any other sport...tend to adhere to a pretty similar set of guidelines. Here are some good gidelines for basketball bettors.
1. Decide on a budget at the beginning of the season. Determine how much you want to bet on individual games, and the maximum number of games on which you will wager. Your budget should be low...an amount of money you can afford to lose without hardship. If at any point you are tempted to increase the maximums you have set, stop gambling immediately.
2. If you care about winning, be thoughtful and analytical. Choose a bit as you would choose any other investment.
3. Limit your selections to games on which you are the most confident. It is much easier to win if you try to select only a few winners.
4. Lots of bettors make decisions on the basis of, "gee whiz" information. Remember that current trends mean far more than historical trends. Because two teams have played each other closely for five years may not mean that will be the case this season, for instance.
5. Analyze your wins and losses to see if your methodology needs adjustment. Do you do better when you weigh guard play more heavily? Should you pay more attention to offensive rebounding statistics? Are you under or over weighing coaching? Are you betting too often on teams you like or teams in the more highly respected leagues?
6. Be sure to appropriately factor in the homecourt advantage. In no other sport is playing at home as large an advantage as it is in basketball (especially college basketball).
The reality is, you may very well be able to win bets against your friends if you follow the guidelines above. And, even if you lose a little every season, you can have a lot of fun. Just don't think you can win betting against the pros. Small wagers can make watching a great game even more fun, large wagers are for fools.
About the Author:
Rob Webster enjoys making small stakes wagers on college basketball. Aside from sports, his interests and areas of expertise include online
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