The Game Day has run various simulations and compiled research that shows how sports betting as entertainment can cost roughly the same (over time) as a Netflix subscription or similar monthly cost. As US sports betting reaches new markets, bettors are turning to sportsbooks as a new form of entertainment, and the ongoing cost of the hobby is lower than it may first appear.
The Game Day’s analysis features various simulations, each showcasing a different $300 monthly betting strategy involving different betting sizes. The findings tell an interesting story. Namely, sports betting as a form of entertainment can cost roughly $13 per month, provided bettors stick to point spreads and specific wager amounts.
In one simulation, placing 20 individual point spread wagers at $15 apiece revealed that most bettors can expect to lose only $13.64 per month. Increasing the bet predictably increases the risk, and also the reward. One simulation saw bettors placing 10 bets at $30 each. 17 percent of bettors lost $128 or more, but a separate 17 percent won $100 or more.
A simulation comprising smaller bet units yielded equally intriguing results. Placing 30 $10 bets revealed that 42.6 percent of bettors were profitable, while only 4.81 percent lost more than $100. 93 percent of bettors, meanwhile, netted between $81.82 and -$90.
Overall, The Game Day’s simulations support the claim that a smart, consistent betting strategy with consistent units wagered upfront roughly equates to the cost of a monthly streaming service subscription and can be significantly cheaper than a gym membership.
Kevin Davis, Betting Analyst at The Game Day, said: “Most US residents don’t think twice about paying $13 for Netflix, Hulu, Disney+ or any other streaming service. But the possible cost of sports betting can be a barrier to entry.
“Our simulations reveal that over time and with a smart betting strategy, sportsbooks offer a relatively cheap entertainment channel. Take a look at our suggestions on how you can limit your losses with a small bankroll.”
The Game Day’s full report is available here.
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