Football Betting Tips: Calculating Risk and Profit
The best way to determine if you should place a bet is to see just how profitable it can be. The theory is definitely not wrong, but it is also not entirely right at the same time. There is one other thing you should consider when you are making your decision to place a bet: risk. The best way to determine just how good a bet can be is by calculating risk-profit ratio.
Let’s just say you are placing a bet on this week’s Aston Villa vs. West Ham United, betting £20 for ½ odds on Aston Villa. You must know that the amount of profit you will get if you win the bet is £10. If your betting bankroll is £100, you are risking 20% of your money to earn 10% profit.
If you bet on West Ham United with odds at 13/2 against the team, you will actually win £130 with your £20 bet. In this case, you are actually risking 20% of your betting bankroll to earn a whopping 130% profit.
Now that you know how to calculate risks and profits, you can integrate the calculation with your bankroll management and betting system to bet more profitably. Depending on your situation, you can minimize your risks and increase profits by opting for matches with better odds. Bet early or late depending on the team you are betting on to get the best odds, and make sure you keep your risks at an affordable level. When you combine multiple bets, knowing how to calculate risks and profits can help you simulate different outcomes of the combination as well.