Making good decisions, particularly when gambling, is about balancing risk and reward. Finding that right balance is difficult but essential and depends on your personal situation, objectives, and appetite for risk. Value for a professional is not the same as value for a casual recreational player so a good bet for one might actually be a bad bet for the other and vice versa. It also means that you can actually make a “bad” winning bet and a “good” losing bet. The following is an attempt to explain why this is the case and to hopefully provide some insight into how you might find your personal sweet spot with regards to risk and reward and thus make better decisions that result in better outcomes.
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