Sports Handicapping - Betting for Fun vs. Betting for Profit

Published on 1/19/2019 by SPORTSMASTERS Community Team

Sports betting has made quite a name for itself over the years, with many people joining the sport handicapping community. Some people bet on sports for the entertainment value, while others are looking to make serious money from it. Some people do it for both reasons.

But while betting on sports in order to make profit or in order to have some fun is not mutually exclusive, many sports bettors prioritize one thing over the other. There are recreational bettors as well as serious ones.

But does it really matter what your reason for sports betting is? The answer is yes, it does. What you aim to achieve from sports betting will ultimately influence the approach you take towards it.

Let's take an in-depth look into the matter so that you know whether you want to bet for fun or for profit.

Tips for Betting for Fun

Many people enjoy betting on sports just for the entertainment value. Keep these things in mind to have a more fun experience with sport handicapping:

  • Set a budget on the amount you're prepared to lose
  • Don't stake too much money on one single wager
  • Try betting on sports that are your favorites
  • Don't place a lot of wagers and experiment with different kinds
  • Don't focus too much on the results

Never wager more than your budgeted amount so that even if you do lose, you'll be prepared for it and it won't spoil the fun.

How to Succeed When Betting for Profit

If you're betting on sports for the money, there are a few things you should keep in mind.

Personal Traits

Betting on sports for profits means you need to have certain personality characteristics. These are:

  • Realistic - Don't expect to win every single wager. Know that it will take commitment and hard work in order to make profits.
  • Analytical Mind - Having a mind that is attuned to analyzing all possible factors helps. It will help you determine the most probable outcome.
  • Patience - Practicing patience can help you go far. There will always be the temptation to bet more wagers and more money but it's the quality that matters, not quantity. Being impatient can cost you.

Knowledge and Skills

To make profit out of sports betting, you will also need to have basic knowledge and understanding about what it takes to succeed. You should know:

  • The Concept of Value - You need to be able to identify how value works in the betting market. It is a learnable skill that can teach you how to increase your chances of success.
  • Basic Math Skills - While you don't have to be a math genius to bet on sports; having a basic know-how on the subject can help. Being able to do certain calculations, for example, makes the process a lot faster.
  • General Sports Knowledge - You should also be able to understand how the sports world works. Having an in-depth understanding of how the sports you're betting on work will help you make profit.

While there are many other things that you need to do in order to make sport betting profitable, having a good sport handicapping site to rely on is half the battle.

SPORTSMASTERS is one of the best sport handicapping services online. With over 40 years of experience, we are a reliable sports betting service.