How to Go on a Roll with Sportsbooks (Or At Least Avoid Insane Losses)

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The attraction of sports books and, by extension, betting exchanges is easy to understand and all of us gaming enthusiasts in Acehero.com know this. Thanks to the telephone, our trusty credit cards and those amazing online betting exchanges, we can wager a bit and win big year-round, all from the comfort of home.

There’s that operative phrase, “win big”. So the question of the day, asked often enough by our concerned spouses and good buddies, is this: “If you tote up your wins and losses over the long run, will playing the sportsbooks and betting exchanges really leave you in the money?”

The short answer is, “Yes, you can make money in the long run”. Just as in the stock market, sports betting can be very rewarding if you are disciplined about bankroll and general money management, willing to learn as much as you can about the sport, take the time to assess competitive standings carefully, have the patience to wait for your big chance, and are blessed with a tiny dose of luck.

First, the caveats and safeguards against disastrous losses.

Money Management:

Decide on a bankroll and stick to it no matter what – You do this even in “friendly” games at home. Poker professionals in WSOP tournaments do it too with the obligatory “buy-in”. That is all they come in with at the start of the tournament. And that will be the extent of their “real” losses even when they make it to the Championship table. The might-have-been’s, the huge pot that “got away”, these are just pipedreams.

This is Acehero.com ironclad rule #1. Put a cap on the total money you can safely put in play with sportsbooks or online betting exchanges. It should be “mad money”, not grocery money, not the kids’ college tuition fund.

When you are on a losing streak, having that magic number in mind will keep you sane and help you cut your losses. Once you begin thinking about cashing in Junior’s trust fund, selling off your car or taking out a second mortgage, you have already lost even before you pick up the phone to call your favorite sportsbook.

Put a limit as well on total bets on any one game. It is very important that you remember this - you can lose any game. Even if it appears to be a sure winner, stay rational and stick with a maximum bet of, say, 5 to 10 percent of your bankroll.

Discipline:

Don't chase losses. This is Acehero Ironclad Rule #2. Do not be panicked into increasing your bets just to chase losses. Many a gamer has crashed and burned with that famous line, “Just one more, the breaks might come my way at last.”

If you are losing in an unbelievably long streak, take a deep breath and reevaluate your betting patterns. I have to say this again, it is so important: never ever chase your losses.

When things get really bad, bail out. Tomorrow is another day. The fun and adrenalin will still be yours to enjoy a week or two later, why not?

Don't get cocky. We have all been there: you are on a winning streak, all your friends are awestruck by your infallible picks. You feel godlike. At last, you have all the sportsbooks on the run. Nothing can possibly go wrong.

So you upsize your bet and tell your friends to follow your lead. And I don’t need to tell you what happens next. The lesson is, stick with your system and the betting level you had decided on.

Don’t fall into the “sure-win” trap – Once in a while, some sharpie will claim to have developed a sure-thing method of spotting winners, the Martingale. The only thing foolproof about it is that it will fatten your bookies’ wallet.

Stay neutral. You are gambling to make money, not watching your favorite team. If you allow emotion to dictate what and when to bet, you will never be a winner for long. The bottom line is, never fall in love with your favorite teams. Be objective, keep a clear-eyed view. In fact, avoid betting on your sentimental favorite or the hometown team if you can help it.

Now that you have a better handle on how NOT to lose very badly, let’s take a look at how to win more consistently.

Handicapping:

Bet against the crowd. The truth is that bookmaker odds reflect betting volumes plus public expectations about a game’s outcome. They have little to do with the relative strengths of the contending teams. You may be confident about a team but if the odds paint a different picture, take stock and make the rational, sounder bet. Chances are, you will be glad you did.

Do your spadework. Know the teams’ starting lineups, injuries, match-ups, settings, player and coaching staff changes, suspensions, line moves, weather, and returning starters. They all play a role in the outcome of a match.

Exploit the Acehero.com forum all you can. There are all levels of expert and authoritative gamer here. Seize on the chance to tap other gamblers from around the country. They represent a treasure trove of regional and community news you will never get on TV or the Internet. Where teams play and other gaming events are held, the “talk of the town” can be EXTREMELY USEFUL!

And do not be shy about asking your newfound friends on the forum for valuable gambling advice. This is what they are here for. They are happy to spread helpful tips and hints.

The past is past. Don’t rely too much on past performance and recent “trends”. Only economists project historical trends straight through to future performance. And they’ve never won big with the sportsbooks, have they?
At the end of the day, sports betting is about money in the bank and fun, excitement, thrills and chills in equal measure. So the point is to be systematic and not get carried away.

Still and all, everybody loves a winner. So let’s hear it from the fellow enthusiasts and resident experts here on Acehero.com. Perhaps you have other caveats in your winning system? A scientific algorithm or two? A completely foolproof, break-the-bank system? If so, why not share the hard-earned wisdom with your newfound buddies here? You will gain “Authority” status, the undying gratitude of the Acehero.com elite and a few dozen more Rewards points that you can cash in sooner or later. Give it a go, why don’t you?