Why do you bet on sports? Many people would say they bet to win. After all, they make the business of making a profit and hopefully building a career as a professional gambler. On the other hand, others are willing to "bet to risk".
How do these two types of bets work? What are the differences between betting to win and betting to risk? Here are the things you need to know.
BETTING TO WIN EXPLAINED
When you bet to win, you bet a predetermined amount based on the odds of the game, with the main purpose of handicapping the bookmakers and maximizing your potential winnings. Most of the time, betting to win also means betting more money to guarantee the highest potential win.
To better understand how betting to win works, let's take for example an NFL game with preferred Moneyline odds of -150. If you bet to win, you will most likely bet $150 on the favorites, so if they win, you get your stake back plus a profit of $100. On the other hand, of course, losing would mean losing the $ 150 wagered.
The potential for higher rewards is one of the reasons why betting to win is the route most gamblers, especially beginners, take. After all, most people bet on sports with the hope of making money by winning bets and getting rich. People who also want to make the most money in the shortest time or with the fewest possible bets often bet to win.
Since winning players also have a predetermined amount of money, they are willing to bet, often find odds and lines that fit their "budget" and try. Those who prefer to bet to win consider potential winnings more than any other factor.
BETTING TO RISK EXPLAINED
Bet to risk are a bit different as they focus more on controlling risk rather than ensuring that each bet is as profitable as possible.
Those who do often indicate that betting to risk is the best choice for long-term profit in sports betting. What makes bet to risk different is that bettors who do this don't bet their money on the odds provided by the bookmakers - they can bet a bigger amount to win a bigger payout, or they can also bet a smaller amount - smaller profit but with less risk.
For example, take odds on a favorite at -110 and $10 to bet. Those who bet to win must bet a dollar more at $11 - because those who bet to win are always trying to handicap the bookmakers by considering the vig.
On the other hand, if a player bet to risk, he will bet $10 even though the potential win is only $9.09. However, for those who bet to risk, that will mean losing a dollar less if they lose the bet.
In simpler terms, bet to risk can easily be explained to beginners as the principle of betting where you don't trust the potential gain that the odds tell you. Additionally, those who bet to risk don't worry about the potential amount they could lose simply because they bet only $90 at odds of -110, for example, rather than $10 for the roundest win.
So, for gamblers who bet to risk, evaluating risk and managing it is more important than making sure you are getting the most out of a bet. This is a way to improve a player's ROI and minimize losses rather than getting rich on a lucky bet.
Regardless of your preference between betting to win and betting to risk, always keep good and efficient bankroll management in mind. Remember that your bankroll is the life and soul of your gambling career, which means that how you manage it is the key to how long you can stay in the game or how quickly you go bankrupt.