By Eurohoops team / info@eurohoops.net
Bet sizing is a strategic art of determining how much money you should put on a wager. The goal of this strategy is to maximise your potential profit on a select bet while minimising the risk. This process is common in gambling games such as poker, but it’s also commonly used in betting on sports like basketball.
Determining the wager is a matter of preference. Experienced basketball bettors are prone to take higher risks, while casual basketball bettors like to keep things entertaining and lower the risk as much as possible. Regardless of what type of bettor you are, there are a few key aspects that will help you do proper bet sizing.
Checking Out Any Potential Payment Method Fees When Betting
When placing bets at online sportsbooks, certain payment methods may incur a fee. This is common practice for e-wallets. These banking options are much more efficient in processing payments, but they charge an extra fee for that service.
For example, depending on your residential country, Skrill might charge a fee of up to 3%. You should always keep this in consideration because there’s no point in wagering a certain amount on a bet if the winning amount keeps your balance in the negative.
You can always consider using payment methods whose fees are either low or nonexistent. One of those is Apple Pay. Not only does it offer fast transactions, but it also doesn’t have any additional fees. The only thing to remember about it is that this payment method is exclusive to Apple users.
Determining the Odds at Online Betting Sites
The odds may play a huge role in your bet size, and you should always take them into consideration. This is especially important if you’re placing a multi bet. Here’s an example to help you understand it better.
Let’s say that the Nuggets are playing against the Lakers, the Suns are playing the Bulls, and the Spurs are up against the Pistons. The odds of the Nuggets winning are 1.50, the odds for the Suns are 1.85, and the odds for the Pistons winning are 2.50. These are fractional odds, which means that you need to multiply them by your bet. You multiply 1.50 by 1.85 and 2.50. The number is 6.75, and if you multiply it by your bet amount, you’ll have the potential winning sum.
Your winning sum should be in accordance with the risk that you’re taking and the type of bettor that you are. High rollers aren’t afraid to bet up to $200 or more on an event. If you bet $200, that means that you’ll be able to win $1,300 (200 multiplied by 6.50). Casuals usually bet around $10-$20 per slip, and in doing so, you can win up to $130.
Generally speaking, the higher the odds are, the lower your bet should be. High odds lead to high rewards, but they incur a greater risk, which is why you should take any chances.
Wagering Requirements and Maximum Bet Limit
When using bonuses and promotions to place basketball bets at online sportsbooks, you’ll likely have to meet their respective terms and conditions before you can withdraw potential winnings. Some of those terms and conditions include a maximum bet limit with an active bonus and wagering requirements.
The maximum bet limit will tell you the limit of how much you can wager, but that concerns bonus funds only. If you happen to win a certain amount, you’ll have to meet the wagering requirements within a specified period to be able to withdraw your winning bets with the bonus.
Wagering requirements are calculated by multiplying the deposit that you made to claim the specific bonus by the requirements themselves. In the UK, the maximum allowed wagering requirements are x10.
Let’s say that you claimed a bonus with a $20 deposit and 10x wagering. That means that you need to bet $200 real money before you can withdraw your bonus winnings. If the validity period of the bonus is long, you can split the amount into several low-bet wagers. However, if the bonus is valid for a shorter period, you’ll have to wager larger sums to withdraw your winnings.