Little bets enable you to mitigate risk and protect your downside. They allow you to gain valuable feedback, iterate on that feedback, and create something that resonates with an audience or has demand from a potential customer.
Richard Branson didn't buy an airplane from Boeing to start Virgin airlines. He chartered a flight when another was canceled and sold tickets. He made a little bet.
A platform like a blog gives an author an opportunity to make a series of little bets, prove there's an audience for her work and mitigates risk for the publisher.
By making little bets, you make decisions based on probability instead of possibility, and you extend the lifeline that enables you to bring ideas to life.