Is it better to spread the risk when sports gambling?

Question

I've gotten kind of addicted to Centsports, and I'm trying to figure out the most mathematically advantageous system. I usually bet on baseball, as that's the sport I know the most about. I don't bet on point spreads, only straight money lines. My question is whether it's better to bet on multiple teams that you think are likely to win, and thus spread the risk out. The alternative is to pick one game you think is a sure thing, and put your entire bankroll on that one bet. Suppose you have $5.00 to gamble with. Would you bet 1.00 on 5 different games, or 5.00 on one game? If you pick 5 games you're more likely to lose at least one of them, and thus your payoff is lower. So is your risk. The one big bet pays off more (probably), but if you lose you're busted. Can anybody give me a serious rationale for one system over the other?

And please, don't just badmouth Centsports in your answer. I'm not asking you to sign up, I just want to hear your thoughts on various systems.

Answer 1

I would bet $1 on ONE game.  Only risk %20 of your bankroll on ONE pick.  This is the system that creates a consistent profit for me.  Check out the complete system and reasonings for free at http://GamblingReviewsSite.com/freepicks  You will also find free daily picks, a free picks message board, sports betting stats and much more...all for free.  Leave your pick of the day while your at it. See you there!

Answer 2

I usually bet numerous games. Mostly MLB +side on the money line.  Then once I get to 3 bux or more then I usually do 50 cent parleys 2 heavy favorites in any sport.  

Then over 5 bux. Usually 2 plays for 2.50. Around that.

Answer 3

The aim whether your playing poker, stocks, sports betting or whatever is to try to get the best return on risk for your bankroll. Diversification is one way to reduce overall risk to your bankroll.

I got trained in dry finance lectures so I'm not sure how to put this clearly but heres a wiki link that had the best explanation

http://en.wikipedia.org/wiki/Diversifica...

With your $5, its best to spread them but it should depend on the odds. Spreading $5 on all long shots is still overall quite risky and I might rather spread $4 on favourites and $1 on a high risk long shot if I really think theres a chance. Venture capitalists basically work on making alot high risk bets but it works because they have huge amounts of money to spread over many bets.

Answer 4

Make consistent, $1 bets until your bankroll allows for bigger bets.  Let your BR dictate your bet size, and not whether or not a pick is a "lock."  I also wouldn't make several bets daily, rather one or two bets every couple of days on games where the matchup stats are right as well as the moneyline.

Answer 5

I will say $1 on 5 games