I’ve lost everything when sports betting – Reflections about going all in
- Updated: 29th October 2019
Looking to ensure profit with your bets is the dream of any bettor, be it amateur or professional. A good portion of those that start try to obtain that profit from night to day, wanting to get a quick buck, and with that, a lot of times they resort to “All In” and then end up losing all of their money in sports betting. In this text, I explain what this expression means, its risks and theoretical benefits.
I’ve lost everything when sports betting – reflections about going all in: what is going all in?
The expression “All in” is generally used in poker and it is self-explanatory: betting everything you own. Which means, putting all of the money in your bankroll on a single bet, be it a single bet or accumulator.
But let’s see, is compromising all your investment on a single event somewhat beneficial?
The big problem of those that are just starting off in this world is that they want to earn money very quickly, and generally with a small bankroll.
On this scenario, the bettor didn’t invest much, and started betting with a high percentage of the bankroll, risking almost the entirety of it. With the natural ratio of losses and gains, they end up not having a calm psychological state of mind and end up throwing it all on a single bet.
Another aspect that might lead the bettor to going All in is that he is seduced by that completely safe bet, that has zero chance of losing and consequently makes him increase his stake considerably.
Who wouldn’t want to double the bankroll quickly? Or who knows, quickly gain 50% of it. But, as I’ve been repeating insistently here, there is no 100% safe bet or infallible method.
Every bet has its risk and even if someone tries to sell you the idea of a method that in theory is solid and has no danger of losing, it is a scam. But my objective here is not planting an idea in your head but yes try to create your own conclusions.
That way, I leave a question here: are you willing to take the risk of losing all your money and starting over again?
If the answer is no, then I have a simple tip for you: never go all in.
Precisely because that’s exactly what will happen if you do: you will lose! It might not be on the first or second occasion, but you will end up losing everything sooner rather than later.
I’ve lost everything when sports betting – reflections about going all in: what is the amount of money I should invest?
In fact, this is a topic for another article, because it involves questions of bankroll management, analysis of the teams or athletes involved and the well-known “feeling”. But I need to add here something that might guide you when it comes to compromising your money.
Each of us manage our money the way we prefer inside the bookmakers. I divide my bankroll into units, generally at least 20. Each bet is worth a unit of my bankroll, and when I’m very confident, two or three at most.
This gives me the safety that, when I’m not able to be successful on a bet, I don’t break or compromise a big portion of my bankroll.
We should be aware that, not every bet we lose is because of us. Sports are inconsistent and a lot of times surprising. That means, we can’t always be successful, even if we follow every step of the analysis of a certain event.
That way, when I divide my bankroll into units, I end up protecting the total amount, having a safe margin for error.
Below I give a real example, that probably broke a lot of bankrolls around the world.
This season in one of the international breaks, the Brazilian national team faced Peru on a friendly. Brazil had recently beaten the Peruvian side in the Copa America, where they won the competition.
The Brazilian side had kept its winning core, and counted with the reinforcement of Neymar, their best player.
On the other hand, Peru that had lost in two occasions by 0-5 and 1-3 was without their best player, the striker Paolo Guerrero. The Brazilian side was completely favourite and the odds of the match were as follows:
The result was apathetic Brazil and a 1-0 final score line for the Peruvians. A lot of bankrolls were probably broken, due to the people looking for a “safe” bet and quick profit.
I also made a wrong analysis of this match, inclusively writing some lines favourable to the Brazilian side. However, this is the difference between those that stay solid and those that fall apart.
No match deserves 100% of your money. Value what you have, opt for solid growth because that way, you will have margin for errors. All of us make mistakes and we should never forget that.
Analysing an event, calculating the odds, considering the risks, evaluating if there is value after all of this. Always follow this rule, because no one has a 100%-win rate. And never go All in!