There are some fundamentals which professional sports bettors live by. They never “chase money”, for example. This is the act of increasing your bet size based on being down and wanting to try to get back even. This is a bad idea in that your losses can grow exponentially. It is a fallacy to think that because you lost the last 6 bets you placed the next one will be a win.
But, knowing when to increase bet size can actually help you grow your bankroll. Knowing when not to increase your bet size is equally valuable. Below are some examples of when you should increase your bet amount at online sportsbooks.
You are On a Roll
If you are winning a string of games in a row and seem to be “in the zone”, this may be a good time to increase your wager size by 25 or even 50%. Just like hitting streaks in baseball, winning bets also come in streak. You want to jump on while your hot and jump off when you start going cold. That is the logic here. But don’t get greedy and double your bet because your very first doubled bet may also be the start of a losing streak.
Last Game of the Year
If you only bet one sport, let’s say football for example, and the Super Bowl is coming up, then you can consider making a larger wager than usual. If you are going to be out of the sports betting world for 5 months why not take a good healthy swing at the last game of the season? This strategy does not hold true if you plan on to continue betting other sports. This is because you can find yourself in a rut and betting way too many games.
When Hedging a Large Bet
If you have put yourself in the glorious position to have a large payout on a futures bet then you may consider betting the other way. This helps you guarantee a profit. I typically suggest 50% of what the win from the other side will be. If this means you have to increase your normal bet size then there really is no problem with it from a logical point of view.
When You Have a Clear Advantage on the House
If you follow multiple sportsbook odds feeds and can see them change in real time, you may be able to catch one of them with a weak line. If the advantage is 2 points or more then you should consider upping the size of your bet because you now have a mathematical advantage. Some people call these “steam plays”” and it was much more common in the early days of internet betting. Now, sportsbooks have entire teams dedicated to line monitoring.
Conclusion
Changing your normal bet size should not be taken lightly. You can really build your bankroll by hitting some big bets in a row but you can also destroy it by losing them. Never bet more than you can afford to lose and never let betting ruin your quality of life. Although most bettors are recreational, some people are able to beat the book and earn a regular healthy profit.
