Managing expectations and setting realistic objectives in the world of sports betting is often harder than it seems at first. It is crucial to be realistic about your plan and focus on the right aspects. In this article, you will learn how to set realistic objectives for long-term profitability while avoiding traps and scams.
Understanding Your Motivation
If you are starting in sports betting, the first question you need to ask yourself is: “Why are you betting? What is your motivation?”. It can be just for fun, or it can be for a more serious reason, such as making extra money at the end of the month. While 99% of people might say, “I’m here to make money”, often that is not the case. Making money with sports betting requires a huge sacrifice of time and money, and most people are not willing to make those sacrifices.
In the end, what separates the profitable bettors from the recreational ones is their level of commitment. Profitable bettors will do whatever it takes to succeed, while recreational bettors will casually bet on what they think is good.
If you are looking for a way to save time, you can check our Premium Service which finds value bets for you.
Creating a Structured Plan
Having a clear and structured plan is mandatory. So… How do you create one?
Step 1: Define Your Level of Involvement
Decide which type of bettor you want to be: the one who analyzes events and places bets independently, or the one who hires a tipster to do it for you.
Step 2: Determine Your Budget
Set your betting bankroll, how much money can you allocate to it?
When placing bets, use 1%-3% of your bankroll for each bet, depending on how risky the investment is. You should not exceed 5% of your bankroll on a single bet. Remember, you are playing for the long-term, and this approach will help you avoid blowing up your entire bankroll!
Step 3: Choose Your Betting Marketing
Stick to sports and leagues you know well. This will increase your chances of making informed bets.
Step 4: Track Your Bets
Record every bet you place in a spreadsheet, including details such as date, amount, odds, and outcome. Analyze your performance by regularly review your spreadsheet to identify areas for improvement.
Step 5: Stay Disciplined
Be consistent and stick to your plan. Just because you are profitable now, you shouldn’t force bets on leagues that you don’t understand as much.
Step 6: Achieve Your Goals
If you followed every step correctly, you’ve reached the final step: you achieved your goals! Congratulations! Now it’s time to aim for higher and more ambitious objectives.
Aiming for Realistic Returns
Sometimes, I’m scrolling through Instagram and I see some sponsored posts from sports bettors promising returns of 300% in a month, 150%, even 800%! It’s crazy to me that these scammers can get away with this! Not even the most accurate AI tool could predict the future 100% of the times with so many variables at play.
Over my 7 years of experience with consistent gains, I can affirm that a good, solid, and realistic return is somewhere between 3%-15% per month of your bankroll. It may not sound like much, but these are actually impressive results when compared to traditional investments like stocks, mutual funds, or real estate, which typically offer returns of 3%-15% per year, not per month as in sports betting.
Don’t fall for false promises. The last thing I want is for you to lose your hard-earned money. Learn more about how to choose a reliable tipster in this article: Stay Ahead of the Game with Professional Betting Tips
Learning and Strategy Development
To achieve your objectives in sports betting, you need a solid strategy, which you will develop by continuously improving your betting skills. Every loss is an opportunity to learn and improve your strategy. Don’t just set financial objectives, also set learning goals, as they will help you make much more money in the long run.
Learn more about turning losses into wins in this article: Sports Betting: How to Improve After Losses
Focusing on the Process
Think of the process, not the outcomes
Lucrative Tipster
In sports betting, it’s crucial to focus on the process. Consistent effort and continuous improvement will bring you the results you’ve always wished for.
Avoid Unrealistic Expectations
The number 1 trap in your journey to achieve your sports betting objectives is falling for unrealistic promises and traps, especially those you see on social media. These include guaranteed wins or get-rich-quick schemes that sound too good to be true.
Avoid these deceptive offer, and focus instead on building a solid foundation for long-term profitability.
Regular Progress Evaluation
Evaluate your progress regularly to stay motivated. Consistent evaluations help maintain your enthusiasm and commitment to sports betting. By consistently reviewing your performance, you can celebrate your successes, identify areas for improvement, and stay focused on your long-term objectives in sports betting.
Enjoying the Process
The most important thing is: Have fun! Enjoying what you are doing increases the likelihood of continuing your sports betting journey. When you find joy in the process, you stay motivated and engaged, making the ups and downs more manageable. Embrace the learning experiences, celebrate the small victories, and keep a positive attitude. This mindset will not only make the journey more enjoyable but also contribute to long-term success.
Click on the button to join our free Discord community: