(Photo by Ethan Miller/Getty Images) In the world of sports betting, having an edge is the golden ticket to profitability. If you can consistently find bets that tip the scales in your favor, you’ll see your bankroll flourish. Whether you’re a seasoned bettor with a tried-and-true model, someone who trusts their gut instincts, or a savvy user of OddsJam Positive EV , the key to success is leveraging that edge.
The Importance of Having an Edge
To consistently make money in sports betting, it’s essential to track your bets. This not only helps verify that you do have an edge but also enables effective risk management. Using tools like the OddsJam free bet tracker can streamline this process by syncing with major sportsbooks like Caesars , BetMGM , and DraftKings . Start small, with $5 to $10 bets, and track them ruthlessly to ensure profitability before scaling up.
Why Place More Bets?
A question that frequently comes up is, “How many bets should I place per day?” If you have an edge, more bets generally mean more profits. Think of it as diversifying your portfolio of profitable bets. Imagine flipping a coin that has a 51% chance of landing heads. You wouldn’t gamble your entire bankroll on a single flip, but with 25,000 flips, your chance of heads appearing more frequently than tails rises to 99.92%.
Factors Impacting the Number of Bets
Profitable betting opportunities vary based on several factors:
– Availability of betting opportunities : More sports in season generally provide more profitable bets.
– Time availability : The more time you dedicate, the more bets you can track.
– Location : Some places like Colorado and New Jersey have more sportsbooks, leading to more betting opportunities.
– Multiple Sportsbooks : Access to more sportsbooks unlocks more opportunities to take advantage of mispriced lines and promos
Why Bet More of Your Bankroll?
If you have a consistent edge, betting more of your bankroll makes sense. However, this isn’t about reckless gambling. It’s based on the principle that more high-quality bets will yield higher returns. For instance, a 3% average return on your wagers means:
– Betting $100 yields $3
– Betting $1,000 yields $30
– Betting $10,000 yields $300
The Kelly Criterion is one recommended method for bankroll management to ensure you’re staking the right amounts without going broke.
The Necessity of Multiple Sportsbook Accounts
Having multiple sportsbook accounts is crucial for line shopping, which means getting the best possible odds for your bets. On OddsJam, the typical user has 4 to 5 sportsbook accounts. This helps you take advantage of different sportsbooks offering varied odds, increasing your overall profitability.
For example, would you prefer to wager $100 to win $145 on Howard’s moneyline at Caesars or $130 at DraftKings? Over time, these differences add up significantly, impacting your long-term profits. Also, Sportsbooks are aware of players who bet with an edge, so it’s a best practice to spread out over multiple instead of hammering the same one.
Betting Across Different Sports and Timeframes
Why limit yourself to one sport? Betting on various sports widens the pool of profitable opportunities. Whether it’s tennis, basketball, or football, the same betting math applies. Plus, placing bets further in advance can lock in excellent lines before sportsbooks adjust them.
Capitalizing on Bonuses and Promotions
More sportsbook accounts mean more sign-up bonuses and odds boosts. Always keep an eye out for these promotions, as they can significantly boost your bankroll. For instance, Bet $5 on DraftKings and get $150 in bonus bets instantly.
Conclusion: More Bets Lead to More Profit
In summary, if you have an edge in sports betting, placing more bets and diversifying across multiple sportsbooks and sports is the smart play. Track your bets, manage your bankroll wisely, and stay active in seeking out the best betting opportunities. If you have any questions or need further insights, feel free to join and reach out to TJP Sports Betting community. We are passionate about sports betting and eager to help!
