Flat Bet or Vary Bet Sizes: Sports Betting?
Introduction: Sports Bettor Flat Bet or Vary Bet Sizes?
To flat bet or vary the size of your wagers is the eternal question that vexes so many sports bettors. But as you’re all well aware, betting is more about bankroll management than anything else. And that’s why whether to flat bet or vary the size of your bets is such a hotly contested subject matter. You might be surprised as to how many sports bettors are throwing good money after bad simply because they fail to grasp how to properly manage their bankroll. It also doesn’t help that they are inconsistent with their wagers and simply refuse to make and then follow a sensible system. Let’s have a look at both forms of betting…
The Flat Bet
Simply put, you’re wagering exactly the same amount for every bet you make. Good money management should ensure that no more than 2% of your total bankroll goes towards any single bet. So, if you fortunate enough to have a $10,000 bankroll, then you’d wager no more than $200 per bet. Of course, it follows, that if you manage to grow your bankroll, then your wager can also go up. But remember to keep things in proportion. If you managed to win some bets and your bankroll now stands at $12,000, then following our 2% rule, you could up your individual bets to $240 a pop. Conversely, if you’d lost money, and your bankroll was down to, say $8,000, then your maximum bet would likewise fall to $160 per wager.
Remember the Vig
If you’re the type of person that understands the importance of managing your bankroll, then flat betting is going to prove a very efficient means of your overall betting strategy. Keep in mind that after the “Vig” or “juice” (the commission that the bookmaker takes from a losing bet) you’ll be needing to win 52.38% of your bets, just to stay even. The very top bettors, with great track records, are pulling in between 55% to 60%. Though that might seem small fry, in fact for sports betting, that’s really an amazing feat. If you were able to keep this sort of betting results, then in the long term, you’re going to become a very wealthy person indeed, as you increase your jackpot winning chances.
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The sports bettor, Billy Walters managed to build a huge empire out of flat betting. By doing so, and keeping religiously to the bet percentages we mentioned, he was able to avoid any losing streaks or loss of bankroll. And that’s the problem for many sports bettors. Essentially, they lack the discipline necessary to practice flat betting and be consistent with it. Instead of simply betting on an outcome, they should be looking at sports betting as an investment. But this would require a completely different mind-set. Of course, many sports bettors look upon betting as an entertainment and are quite content to lose a few hundred bucks each year chasing their favorite sports, whether the horses or a football jackpot. Yes, we know, it’s their money and they should blow it as they seem fit.
Varied Bets
Just as the name implies, the bettor raises and lowers his bets on a whim. This is essentially a hap-hazed approach to gambling. And more often than not, it arks a slippery road that’ll end in tears. For example, let’s say you decide to try your hand at sports betting. It’s a new form of betting, but you want to give it a go. So, here you are, with a $5,000 bankroll to get you started. You don’t care or don’t know about flat betting. But let’s assume that you know that 2% of your bankroll, is a good starting point for your first bet. So…you place your first bet of $110 (the extra $10 is for the Vig). And let’s suppose that you lost the bet.
Now you’re $110 out of pocket. But, being an eternal optimist, you know that you can recover and come out on top again.
But, for the sake of argument, let’s suppose that you experience a losing streak of 5 x losses in a row. Now you’re down $700. And it’s at this point that any logic will start to go out the window. You’ll be thinking that after 6 x losses in a row, you’re “due” a win. So, to cover those losses, you’ll up the ante by placing a $700 wager in order to get even. But thinking that you’re somehow “due” a win, is what we refer to as the Gambler’s Fallacy. You’re not due anything other than what comes down the line. And so….what happens? That’s right, you lose it all.
Lady Luck is a Cruel Mistress
So now you’re already a week into your sports betting career and you’re over $1,400 down. Because you still need to break even, you double down and start to bet with $1,400. Can you see where this is going? You lose more than you win and just keep digging a deeper and deeper hole. After making wildly differing bets, all you’re bankroll is depleted. You have nothing left. So why do some sports bettors end up getting so big? Well, it’s down to the allure of having a big win. Rather like the Martingale System at the casino games table, they believe that at some point, a bet going to come home, and with it comes all your losses. But this is no better than gambling on a “hunch”. There’s probably no faster way to a completely empty bank account.
Which One Has the Advantage?
Depending on your type of personality, both methods can seem to offer something. But make sure that you know how to read the sports odds before you go forwards. You might see benefits from using either one. But let’s have a deeper look and see which one really comes out on top.
Flat Bet: Limiting Your Potential
For many gamblers, using a varied method for wagers gives them the possibility of having bigger wins. And, it’s true, to a certain degree. But things can equally go south and you’ll end up with nothing. You’re certainly not going to have any huge wins with flat betting as you limit your self to that 2% we previously spoke about. But the main advantage is to make your bankroll last as long as possible, in the hope that you’ll experience some wins along the way. And though it may appear that you’re getting some serious limits on your earning potential, with flat betting, you’re actually able to increase your bets in accordance with your winnings. In other words, as your bankroll grows, so do your betting percentages. At the same time, you’re mitigating your losses y sticking to the 2% rule.
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Recouping Losses
Aha…the well-known trap of chasing losses. Many gamblers start out with good intentions, knowing that flat betting is the way forwards. But after experiencing some losses, they become impatient. And that’s where the problem starts. They forget that with flat betting, your wagering amounts go down as your bankroll lowers, they are tied together by the 2% rule. It makes zero sense to increase your bets as your bankroll is being depleted. Increasing the size of wagers to cover losses is chasing losses. And one of the first rules of gambling is that you NEVER throw good money after bad.
If at the end of the session, you’re totally out of funds, then you have zero chance of winning anything. So, it’s better to stay the course and stick to the percentage wagers. With this, you have a much better chance of clawing back any previous losses and you may even go on to see some profits. Simply because you’re still in the game. So, don’t go chasing a big payday. It’ll end in tears, that’s a certainty.
Having Fun Betting
It’s a valid point that can easily be overlooked. And that’s the fact, that for the majority of sports gamblers, having a punt on a team or a horse, is nothing more than a bit of fun added to the excitement of the outcome. In some respects, it could be argued that flat betting siphons all the fun out of betting by being so dry in its approach. After all, where’s the excitement without the possibility of a big win (or a big loss for that matter)? We guess that this comes down to how you’re hard-wired. We tend to be more conservative when it comes to all forms of gambling, whether at the sports arena or at the casino games table.
Our job is to get the most bang for your buck, meaning that if we can increase the time before your bankroll is gone, then the more chances you have of having a win. Some people like to go for broke, and others, like ourselves, tend to go slow and steady. Yes, we know, it’s not how to win the jackpot. It’s better to have lots of smaller wins, over and over.
Which Should Most Sports Bettors Use?
Without a doubt, the best results for the vast majority of sports bettors is going to come from utilizing flat betting. It’s by far the safest option for any sports bettor and that’s why we take such pains to recommend it. There is no more straightforwards method of managing your bankroll. Because consistency is the key. Having a simple rule that guides the amount you can wager, will also stop any emotion taking over and causing you to bet less than optimally. But we have to admit, that flat betting isn’t going to win you any brownie points for excitement. For example, you’ll never see a Hollywood gambling movie, where the protagonist is flat betting! But with this technique, you’ll be able to stay in the game a lot longer than any other bankroll management method. If you’re new to sports betting, then we have a guide just for you.
Conclusion: Sports Bettor Flat Bet or Vary Bet Sizes?
If you decide to start to practice flat betting, then you’ll be light years ahead of most other sports bettors. Because we tend to like to play safe with our bankroll, then we recommend flat betting for all sports bets. Also, we always take the long term approach to all aspects of betting. We like to crunch the numbers, look hard at the mathematics, and only they make our move. But on the other hand, we absolutely understand that this approach can suck all the joy out of betting. have a look at our sportsbook reviews to see which one suits you.
At the end of the day, everything depends on your personal preferences, and what you want to get out of your betting experience. Some times, nothing will beat the buzz of putting your whole bankroll on just one result. It’s not what we would do, but then again, we’re a bunch of boring bettors. Providing you understand risk vs reward, then go for it!
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