Betting on sports while watching them is a great way to engage more with the event. There was a time when you had to visit the stadium where the event was happening to place bets. Thankfully, we live in the era of the internet when you can do the same from the comfort of your home.
One of the main challenges for new bettors is deciding how much to bet. For example, if you have 100 pounds, you may feel like putting the whole thing on a single bet for maximum thrill. Well, that’s not how it works.
Rather, a 5 pound bet will allow you to place 20 wagers for the same bankroll. It means you can go through the same level of excitement 20 times instead of just one. Small bets are often more thrilling if you know how to utilize them.
We have betting expert Jimmy Daytona with us here at Techertn to break this practice down. He will share his experience with small bets and how they can impact your upcoming journey.
Jimmy Daytona to Techertn: Explaining The Psychology of Small Bets
Everything comes down to psychology. Highrollers spend millions for the same reason regular bettors spend thousands—the thrill. However, you can’t take sports betting as your profession because it depends too much on luck.
So, what’s the point of being financially irresponsible? If you seek thrill, smaller bets will get the job done. You’re anticipating the outcome and trying to test your intuition. The size of the wager is irrelevant here.
The best thing about small bets is that you don’t come out emotionally devastated when you lose. And you will fail at some point in your journey. Small bets are the way to go for better emotional management.
Creating an Engaging Experience
Small bets are the best way to create engagement in a social environment. Think of it this way. Instead of placing a big bet yourself, you can invite your friends or family members in a friendly wager battle.
This socializing experience will be more stimulating than the thrill of the bet itself. It works out well when you already have plans to watch any sports event as a group. It could be the English Premier League Final or a UEFA Champions League match.
From a simple viewing experience, introducing small bets can transform it into a party environment.
Managing Risk and Responsible Betting
Gambling usually has a social stigma around it. Why? It’s because it’s very easy to lose track of how much you’re spending. Many people have fallen victim to irresponsible gambling over the years.
Since online gambling makes it even more accessible, responsible gambling is key. All the licensing authorities that grant licenses to betting operators make it mandatory for them to include accountable gambling tools.
These tools usually include:
- Deposit limits
- Daily/weekly/monthly wagering limits
- Time limits
- Reality checks
- Cool-off periods
- Self-exclusion
When you place small bets in the first place, you’re practicing responsible gambling. It’s a habit that can stretch the duration of your experience and keep you grounded.
Exploring Different Betting Options
The world of online sports betting is very diverse. There are hundreds of tournaments happening all over the world. For those tournaments, you can find thousands of markets to bet on. How do you plan to experience all of them if you blow all of your funds on a few bets?
It is where small bets take the reign again. By slicing up the size of your wagers, you’re effectively opening yourself up for a more diverse experience. Different sports allow you to choose what you want, how you want.
For example, you may prefer both pre-match bets and live. You also like to dabble in esports betting. Or, select markets like politics and TV reality shows may intrigue you. When you keep the bet sizes small, you can explore them without worrying about the bankroll.
Enhancing Sports Betting Knowledge and Engagement
Learning is key to success. You can’t expect to win lots of bets after you’ve just started. The ones you win are luck, a very important component of gambling. But over time, you can dial in your research capabilities to make better decisions regarding what markets to bet on.
It would help to keep your bet sizes small to sustain this learning curve. Otherwise, you’ll burn through all your funds even before you realize the source of true enjoyment.
A great thing about the online gambling industry is that no 2 experiences are alike. As you keep exploring different bookmakers, you’ll find new types of bets you never knew existed! If learning new things stimulates you, sticking to small bets is one of the best things you can do.
The Entertainment Factor
Let us start the last section with a question. Why do you want to bet? It’s surely not to make money. That leaves us with only one option. Entertainment. You’re seeking joy from the uncertainty of what will happen in a bet.
You can’t put a price on this entertainment value. Whether you spend 5 pounds on a bet or 100 pounds, it remains the same. If you don’t gamble pretty often or don’t take it seriously, small stakes will surely enhance your overall sports viewing experience. Just try it!
Conclusion
So, what did you learn from this post? We hope we’ve answered your question regarding how much you should spend on a single bet. It’s always better to start small and leave room for growth. You won’t be putting any stress on your bankroll.
After you start, it all comes down to how well you can diversify your betting portfolio to explore different markets. It’s much like traveling the world but on a budget.