I've decided to make my own Sportsbetting 10 commandments. Whatcha think?

The 10 Commandments of sports betting by badger at predictem seemed very flawed so I've made my own. Let me know what you think.

The 10 Commandments of Sports Betting
By RenoChazz

1. Thou shall only bet when they have an edge. (No betting on games only because it's on National TV or because it's your favorite team)

2. Thou shall practice good money management. (If the perceived return on investment is 3% then betting any more than 3% of you bank roll is asking for trouble)

3. Thou shalt not chase losses. (Betting into games that you didn't like before for the chance to break even is a great way to lose even more)

4. Thou shalt not bet parlays. (Some of you might love doing this because of the big pay-outs, and it may be cheaper than going to a movie, just don't expect a long term profit.)

5. Thou shall bet early. (Beating the closing line by getting an extra 5%-10% payout on money-lines and bigger winning windows by getting that extra half point or more in spreads is key to turning a profit.)

6. Thou shall study! study! study! (If one can properly handicap; beating the closing line is that much easier.)

7. Thou shalt not make betting conclusions while under the influence. (There's a reason why Vegas gives out free drinks.)

8. Thou shall chase steam. (Chasing steam is another way to ensure that one beats the closing line which is key to getting an edge.)

9. Thou shall hedge and scalp when the oppertunity is there. (A sure thing is always a good thing, having the best of both sides is the only lock in sports betting.)

10. Thou shall keep accurate and honest records. (In the long term this will let one know if they are trully playing with an edge or in denial.)

RenoChazz said:

The 10 Commandments of sports betting by badger at predictem seemed very flawed so I've made my own. Let me know what you think.

The 10 Commandments of Sports Betting
By RenoChazz

4. Thou shalt not bet parlays. (Some of you might love doing this because of the big pay-outs, and it may be cheaper than going to a movie, just don't expect a long term profit.)

9. Thou shall hedge and scalp when the oppertunity is there. (A sure thing is always a good thing, having the best of both sides is the only lock in sports betting.)

Click to expand...

I disagree with these two.
Scalping only makes sense, if your 2nd bet is also a +EV play. Otherwise you cut into your winnings (or lose more money, if you are a losing player) long-term.

And betting parlays isn't a bad thing per se. If you parlay two +EV plays, you actually increase your overall edge because the odds of your parlay bet are actually a bigger +EV play than your single wagers.
This requires you to parlay +EV plays and it'll also increase the variance in your bankroll, so you have to adjust your money management/staking, but parlay betting isn't a losing proposition if done correctly.

when it comes to the "hedge" it really depends if your "hedge" bet is also +EV, then of course its probably an attractive offer.

now, we dont want to blindly hedge at a terrible number just because we have a strong position on the other side however.

Have to agree with the disagreements on four and nine. If there is an edge, parlays absolutely will produce long term profit; the long-shot makes the short term very likely losses

Hedging, by definition is the exact opposite of betting with an edge. You give up an edge to lock in profit. Like avoiding parlays, you definitely help yourself in the short term, while giving up long term profit

The first two are perfect. If you follow those two, all the others aren't worth mentioning

Fast pay makes fast friends...no matter what the side of the counter you are on....That is my only commandment.....