SPORTS BETTING: RISK TO BET VS. BETTING TO WIN
Why do you place bets on sports? Most people would say they bet to win. After all, they’re in it to make money and, hopefully, a career as a professional gambler. Others are willing to “bet to risk.”
What is the difference between these two types of betting? What are the distinctions between betting to win and betting to risk? Here is what you need to know.
BETTING FOR THE WIN EXPLAINED
Bet to win; you wager a predetermined amount based on the game’s odds to outwit the bookies and maximize your potential profits. If you are betting to win, you will bet more money to maximize your potential earnings.
Consider an NFL game with a favorite Moneyline of -150 to better understand how betting to win works. If you’re betting to win, your best bet is to bet ₱7500 on the favorites, and if they win, you’ll get your money back plus a ₱5000 profit. On the other hand, you are losing means forfeiting your ₱7500 wager.
Consider betting on the Super Bowl in 2022. The Tampa Bay Buccaneers are the sportsbooks’ favorite, with odds of -500. This means that a ₱5000 bet on them would result in a ₱25,000 profit. This selection may appear to be a no-brainer for those who bet to win, given the potential profits look very enticing.
One of the reasons why most punters, especially newcomers, prefer to bet to win is the possibility of higher rewards. Most people bet on sports in the hopes of winning big and becoming wealthy. People who want to make the most money in the shortest time or with the fewest bets often bet to win.
Because bettors who win have a predetermined amount they are willing to wager, they frequently find odds and lines that fit within their “budget” and go for it.
Those who prefer to bet to win prioritize potential profits over all other considerations.
RISK BETTING EXPLAINED
Risk Betting is slightly different in focusing on risk management rather than ensuring that every bet is as profitable as possible.
Those who do this frequently describe betting to risk as a better long-term profit option in sports betting. Risk betting distinguishes that punters do not wager their money based on the odds provided by the bookies – they can bet a more significant amount to make an enormous profit.
Consider a favorite with odds of -110 and a bet of ₱500. Those who bet to win must bet a dollar more at ₱550; always betting to win is trying to handicap the bookies by factoring in the vig.
However, if a punter bets to win, they will bet ₱500 even if the potential profit is only ₱450. Still, those who gamble lose a dollar less if they lose the bet.
Risk Betting can be easily explained to newcomers as the betting principle in which you do not rely on what possible profit the odds tell you. Also, those who gamble do not worry about the amount they could lose simply because they are betting only ₱4500 at odds of -110 rather than a complete ₱500 for a rounder profit.
Thus, for punters who bet to risk, assessing and managing risk is more important than getting the most profit out of a wager. This is a method of increasing a bettor’s ROI and minimizing losses.