Many sports bettors only gamble on the final outcome of a game. For example, they may place a moneyline or points spread wager, but nothing else.
This conservative approach is a nice way to ensure that you don’t risk too much money at one time. However, it also prevents you from maximizing the research you put into a match.
This post discusses the advantages of wagering on multiple outcomes in a single game. It also covers how you can integrate this strategy into a traditional bankroll management plan.
Common Bankroll Management Principles
Before jumping into the benefits of making multiple bets on a game, I’d like to go over standard bankroll management practices.
The most common approach to managing a betting bankroll involves the following elements:
Determine how much you can afford to risk on sports betting in general (e.g. $1,000).
Break your bankroll down into 100 units (e.g. $10 per unit).
You usually risk one unit on each game.
However, you might bet two to three units if you’re feeling particularly confident about a wager.
Many bettors avoid using any sort of bankroll strategy. Casual gamblers often bet however much they feel like on a given game. If you use the 100-unit plan outlined above, then you’re already ahead of the game.
Of course, some bettors are also too conservative with this strategy. They get the impression that they’re only supposed to risk one unit on each match.
You Should Consider Placing Multiple Wagers on a Single Game
The whole idea behind bankroll management is to gamble wisely and make your funds last longer. After all, you don’t want to run through your bankroll too fast by placing ill-informed wagers.
On the same token, though, you need to maximize your research on matches when possible. You shouldn’t have to thoroughly study each game, only to place a single wager every time.
Instead, you should think about placing a combination of bets on the same contest. For example, you might make a moneyline bet, first half, totals, and live wager on a game.
I’m not advising that you force the issue and always risk money on multiple outcomes. But you want to be conscious of more opportunities.
If you’ve researched a matchup and feel particularly knowledgeable about it, then you should try to get the most out of your time. Provided you’ve done the homework, you stand a decent chance of winning over half your bets on one game.
Why Bet on Multiple Outcomes Within the Same Match?
The approach I’ve discussed above adds more risk to the equation. You could very well four to five bets on a game and lose every one. By this point, you’ve lost multiple units on a single match. At the same time, though, you don’t have to put too much of your sports betting bankroll at risk.
A good approach involves wagering just one unit on each outcome. Assuming you risk three to five units, then you’ll only lose 3% to 5% of your bankroll if things go badly.
Of course, you’ll also experience times where you win most or all of the bets. I’d argue that, with the proper research, you’re going to enjoy multiple wins more often than multiple losses.
As covered before, the other main benefit to the strategy involves maximizing your research time. If you’re thoroughly studied a matchup, you might as well consider several available bets on that game.
Again, I don’t advocate forcing bets just because you’ve put the research in. But you’ve already got a head-start on one or more additional wagers after studying a certain match.
Downside to Placing Multiple Wagers on the Same Game
I certainly don’t want to mislead you into thinking that the strategy covered in this post is completely foolproof. It does come with some notable risks.
The most obvious drawback to putting multiple bets on a single match is that you stand to lose more units. Considering that the point of bankroll management is to mitigate risk, you shouldn’t do anything too crazy.
I don’t believe that placing three to five units on multiple wagers is overly risky. Then again, you are putting more units into play than you might otherwise.
Another problem here is that you could spread your focus too thin. Rather than fully focusing on a moneyline or first half bet, for example, you’ll be considering second half bets, live wagers, and totals. In the end, you might feel that it’s smarter to just fully dive into one bet at a time rather than several.
Finally, you might put multiple wagers on a team that’s having an off night. Even the best teams suffer through days where they just don’t have it.
You could lose a first half, point spread, and quarter bet, for instance, when putting them all on the same side. Of course, you can eliminate the chances of this happening by betting on both sides. But the temptation will be high to wager on the team that you know most about.
Is the Risk Worth the Reward With This Strategy?
You should always go with the sports betting strategy that works and one you’re most comfortable with. If you’ve had success with making a single bet on each match, then you should stick with it.
Personally, though, I like keeping my options open. If I’ve studied a matchup and feel confident in one team, I might take them on the moneyline bet and both halves.
This risky strategy pays off when it results in winning multiple units. In many cases, you might win two wagers and lose one, thus still coming out ahead.
You always have the option of putting multiple units on each outcome too when placing multiple wagers on a game. For example, you could risk three, two, and one units on three different bets.
I don’t particularly like this idea when considering that multiple wagers are already in play. But it does provide a way to maximize bets that you feel really good about.
I’ve used the multiple-bet approach with success and believe that it’s worth the risk. At worst, though, this strategy is worth at least one try.
If you’re at all worried about making multiple bets on single games, you might consider only risking half a unit on each outcome. When or if you feel confident moving forward, you can increase to a full unit.
How Can You Reduce the Risk and Enjoy the Benefits?
Real money sports betting can be quite volatile in the short term. Therefore, it’s always good to lower volatility and keep yourself in the game, especially when using a riskier strategy.
As for betting multiple units, you should consider the following tips for lowering the risk:
Only put one unit on each outcome (or 0.5 units when testing this strategy out).
Spread your bets on both teams.
Diversify the types of bets (e.g. moneyline, quarter, prop bet on a player’s points).
Don’t force the issue with multiple bets.
The last point is key here. You should look for opportunities, but not feel obligated to make additional bets. Sometimes, you’ll only feel that one, or even no, wagers are worth taking.
Bankroll management is a huge part of long-term success with sports betting. However, it can be limiting and make you think too conservatively.
Of course, I don’t advocate risking 5% to 10% of your bankroll on a single bet. But I do believe that putting 3% to 5% of your bankroll into a single game can pay off.
This approach maximizes the research you put into matches and can pay off in the form of multiple wins. The key is that you do the research and find legitimate opportunities.
Assuming you see multiple bets that are worthwhile, then you should put a unit on each of them. If you’re uncertain about this strategy, then you might place a 0.5 unit on each outcome in the early going.
Michael Stevens has been researching and writing topics involving the gambling industry for well over a decade now and is considered an expert on all things casino and sports betting. Michael has been writing for GamblingSites.org since early 2016. ...
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