Sports Betting – How to Maximize Winnings and Minimize Losses

Everyone knows that when you bet on sports- bookmakers are the ones who usually who profit as their odds are pretty efficient. As the old saying goes, “The House Always Wins.” And personally most people should never resort to sports betting as their main source of income. I also think that betting on sports makes thing much more interesting and much more fun. One of the problems with betting on sports is how much you want to bet. For instance- if you bet a large amount and you lose- it sucks, but if you bet an amount that is small and you win- you might feel good but it almost seems like a waste.

If I am going to bet, I want to lose a little or win a lot. I think the best way to do that is on Sportsbook.com. They have a Progressive Parlay System. First, a Parlay system is where you chose a certain amount of games (usually up to 12) and rewards successful bettors with a large payout. For example a bettor could include four different wages in a four-team parlay, whereby he is wagering that all four bets will win. If any of the four bets fails to cover, the bettor loses the parlay, but if all four bets win, the better receives a substantially higher payout (usually 10-1 in the case of a four-teamer) than if he made the four wagers separately. This payout is great, but if you miss one, you lose.

The Progressive Parlay works a little differently. In the Progressive Parlay, the payouts are not quite as high, but you can afford to get games wrong. It is an insurance to your bet- which is definitely worth it. Here is the table for the payouts for the Progressive Parlay at Sportsbook.

All selections win

4 Teams

5/1- 0 losses

1/1- 1 loss

5 Teams

11/1- 0 losses

2/1- 1 loss

6 Teams

20/1- 0 losses

9/2- 1 loss

7 Teams

40/1- 0 losses

4/1- 1 loss

1/2- 2 losses

8 Teams

75/1- 0 losses

10/1- 1 loss

2/1- 2 losses

9 Teams

150/1- 0 losses

20/1- 1 loss

5/2- 2 losses

10 Teams

250/1- 0 losses

25/1- 1 loss

3/1- 2 losses

1/1- 3 losses

11 Teams

400/1- 0 losses

60/1- 1 loss

5/1- 2 losses

1/1- 3 losses

12 Teams

900/1- 0 losses

80/1- 1 loss

10/1- 2 losses

3/1- 3 losses

So after looking at this chart, you can see that if you miss 1 out of your 4, 2 out of your 7, or 3 out of your 10 picks and still make money. The best odds are to pick 10 because you can miss 30 percent of your picks, and still come out ahead. If you were to hit all 10 though you would make 250 times your initial bet. So, say you bet 10 dollars- and you pick 10 games. If I were to get 7 of them right- I would make 20 dollars. If I were to pick 8 right, I would make 30 dollars, 9 right- 250$, and all 10 right- 2500$. Of course it is extremely difficult to pick all 10 right. But this is all from a bet of 10 dollars.