Live Sports Betting—Your Battle Plan

Create a Plan and Stick With It

Live sports betting is a very exciting feature and more and more sports books are offering. If you’re betting using standard betting slips that are set in stone once the game begins, then chances are you have some sort of plan that guides your wagering. It probably includes methods of handicapping, various tools you can access and a blueprint for money management.

In a way, if you’re also involved in live sports betting, that is probably already included in your sports betting plan. It has to be since you’re most likely utilizing the same bank for regular and live betting.

But live sports betting, because of its nature, is quite different from wagering in the normal manner. And that means you need some additional guidelines to take you through the betting process. Here are the elements that you must address in your live sports betting battle plan.

Money Management

Basically your battle plan involves money management details. First, you have to decide what your bankroll will be for a given event. If you think of the event as one big bet, then you may certainly apply the 5% rule and use 5% of your existing bankroll.

However, you may want to be ultraconservative and use less than 5% or you may want to go high-risk and use 10% or more. It is up to you. But one thing that you should consider is the damage that might be done to your sports betting enterprise if you risk more than 5% of your bank.

Whatever limit you choose, once you are wagering do not raise it to make up for losses. The primary thing you need to remember is you have to be comfortable with whatever limit you’ve chosen

Number of Bets You Expect to Place

First, you have to divide your bankroll into units. A unit represents your minimum wager. If you have a $300 bank for the game, you would divide that into 10 units. That means that you would have a total of 30 one-unit bets to make with each unit being worth $10.

If you decide to divide your bankroll differently, into units worth $5, $15 or $20, it will affect how many one-unit bets you have to make.  Here are some examples.

Bank                             Unit Worth                           Number of Single Unit Bets

$300                                       $  5                                          60

$300                                       $10                                          30

$300                                       $15                                          20

$300                                       $20                                          15

There are sports books that will take $5.00 bets. If you want to be conservative and double the number of single unit bets you make, which can keep you in the game longer, then go with units worth $5.00.

Types of Bets and Number of Units

Prior to the game, you should also know what types of bets you’re going to make and how many units you’re going to risk on each type of wager. Additionally, you need to have a plan for expanding your betting if you’re showing a profit partway through the game.

As an example, you may decide that your foundation bet, the one you make consistently, will be one that carries even odds, or you may decide that foundation wager will range from even to 2-1 odds.

Perhaps you’ve decided to make numerous bets at a time. You’ll need to think about the range of risk you’re willing to take and how many units you’re willing to put towards each type of wager every time you bet.

As an example, with $5 units you may want to make the following—1 one-unit even odds bet, 1 two-unit bet that has odds ranging from +250-+400 and 1 one-unit bet on a wager carrying odds over +600. Each time you wager, you’ll use 4 units.

Know the Ins and Outs

In order to create your live sports betting battle plan, you’ll have to know the ins and outs on whatever sport you’re wagering. You’ll also have to know what types of bets are available to you at a specific live sports betting site and what bets are offered for the specific sport on which you’re wagering.