With the advent of online gambling websites, the sports betting industry has now turned into a billion-dollar-a-year business. Now that youâ€™ve chosen to be a part of this business, you should know sports betting is no walk in the park, and you need to put in a lot of groundwork and effort if you hope to make a decent amount of money out of it for soccer bet of the day.
So Why Sports Betting?
Apart from poker, sports betting is the only other form of gambling where you stand a fairly good chance of winning. Although the house still does have an edge, referred to in the business as the â€vig,’ this advantage is relatively small, standing at a meager 4.5%.
Apart from that, you donâ€™t need years of experience like you would in a poker game. However, you do need extensive knowledge of the sports youâ€™re betting in, the teams in the competition and above all, patience.
So now the question is, do you bet on multiple sports or focus all your time and energy on just one?
Letâ€™s look at a few statistics before we go on.
How Often Do I Need To Win?
The unanimously agreed upon statistic is that you need to win 52.4% of your bets to break even. The good news, though, is that if you win more than 56% of your bets, you stand to make a pretty hefty sum of money. Statistically, it seems like a pretty good deal, and youâ€™re liable to think the more I bet, the more sports I bet on, the more money I will make. There are plenty of faults with this line of reasoning, and you might just end up losing everything.
So Why Would I Want To Bet On Multiple Sports?
The problem with focusing on any one particular sport is that they arenâ€™t played all year around. So when off-season comes around, thereâ€™s nothing for you to bet on anymore unless you pick up a different sport. Football season begins at the end of baseball season closely followed by basketball season. So itâ€™s tempting to bet on multiple sports.
One must go back to the absolute basics of betting, to make the decision about choosing just the one game or multiple.