One of the first questions that novice sports bettors tend to have is whether or not it makes sense for them to signup for a sports betting service in order to help them gain an edge. Everybody has a different opinion on the effectiveness of sports betting services. One of the most important elements that every novice bettor should understand and factor in to their decision when it comes deciding if they want to use one of those sites is the 55-percent rule.
One of the biggest complaints for sports betting services is the fact that they distort people’s perceptions of what to expect with promises of guaranteed results and profits.
Here is a breakdown of the 55-percent rule and why it should be carefully considered when deciding whether or not to use a sports betting service.
What Is The 55% Rule?
The best professional sports bettors on the planet would consider it a success if they won between 56 and 58 percent of their wagers. It is extremely difficult to maintain a 55-percent edge when it comes to betting on sports and professional handicappers understand that if they maintain a 55-percent clip they will make a substantial profit over time. These handicappers dedicate a ton of time to finding the best possible lines in order to make sure that when they hit they win the most amount of money possible and that commitment to shopping for the best lines could make hitting at 56 to 58 percent seem more like hitting at 60 percent.
While sports betting services will promise guaranteed results the reality is that they are probably hitting on winners at around a 56 to 58 percent clip and their ability to manage their money will lead towards them making a profit on those results 100 percent of the time.
How Often Do Sharps Hit?
While these sports betting services can’t accurately predict the winner of an event 100 percent of the time, they will provide you with winners around 56 to 58 percent of the time while keeping you off obvious losers. This is important because any systems that keeps you off losers is more valuable than one that puts you on winners due to the fact that you lose an extra 10 percent on losing wagers.
If you bet $100 on 50 wagers and hit on 55 percent of those bets, you will make a profit. However, if you bet $110 on 50 wagers and lose 50 percent of those bets you will end up losing money.
Sports betting services do an excellent job of keeping you away from obvious losing situations in which you are more likely to lose a substantial amount of money in the long term than make a profit and that can be extremely important.
Track Your Profits
Different sites will produce different results. The bottom line is that a sports betting service could provide useful tools if used correctly. The key is to make sure that you stay on top of your wagers by keeping records with spreadsheets. That way you track your money and make sure that you are making a consistent profit.
The bottom line when it comes to betting on sports will always be making a profit. As long as you are constantly making money, you will probably enjoy the benefits of sites like MyBookie (MyBookie review), BetOnline and Bovada.
However, just make sure you aren’t expecting major profits in a short time span because it will take time to make money betting on sports regardless of whether or not you are using a sports betting service or not.