8. Soccer Betting Risks
What is the worst possible risk faced by Bettors when indulging in soccer betting? Indisputably, the answer is this: they may end up making themselves and their loved ones completely destitute! Fortunately, however, this sad scenario only affects a tiny minority of the betting population. Most of us are well balanced enough to be able to steer well clear of that pitfall .........
For the majority of soccer Bettors, the biggest risk is that losses may continually outweigh gains, leading to a total wipe out of their betting funds on a depressingly regular basis.
The essential ways to manage that risk are therefore (a) to assess for yourself the degree of risk involved in your betting funds being eaten up completely and (b) to work out how you can reduce that risk to the bare minimum.
When it comes to gambling on the outcome of sporting events, every well-balanced person will readily acknowledge that it is not worth risking all their funds on one single bet, as they could very easily end up with no funds at all. This principle applies whether or not the Bookie's Odds appear to be in the Bettor's favour (they rarely are, of course).
However, the most commonly occurring reason we have found for people consistently losing money at sports betting is that they have no "game plan". Worse, all too often, bets are placed on "gut feel", and frequently for wildly varying stakes (as opposed to "fixed" - or "level" - stakes), usually without proper assessment of the chances of winning, or without adequate consideration as to how a loss will affect the Bettor's Base Bank. Consequently, at the end of each season, most soccer Bettors are poorer than when they started.
The most essential elements of a good game plan for betting purposes are a proven Selection System and a proper Staking Plan. The Staking Plan alone won't cut it; first and foremost you must employ a worthwhile Selection System!
If you are employing neither of those two elements, then the risk you run of eventually losing your entire Base Bank is 99.99%. On the other hand, employing only a good Selection System would not only reduce your risk closer to just 10% chances of losing all your funds, you would also have created the situation where you have as much as 10% chances of making money.
Put another way, this means that the Bookies would suddenly be faced with a 10% possibility of losing to you long-term, rather than a 99.99% certainty of taking your money from you. Throw in a proper Staking Plan on top of that, and you could increase your chances of winning to as high as a 52.5% overall probability (meaning the Bookie has only a 47.5% chance of beating you).
From the above, therefore, you can see that finding a good Selection System and sticking to it, plus adopting a good Staking Plan, is the only way to go if you are truly serious about making money at soccer betting!