Sports Money Management Systems are designed to provide you success on the Long term run in Betting on Sports. Basically, a Money Management System provides you with a way to keep your bankroll under control, with a disciplined approach to sports betting.
Many people get entangled on the moment. Loose one bet and you want to recover all your loses at once. One quickstrike and if possible… the winnings you wanted to earn. Loose again, and UPS!! Suddenly you are in a hole. Next attempt: Recover all your loses at once. Again loose! The hole keeps getting deeper and deeper.
Sounds all too familiar. This happens many many times. All too often! And it happens to Amateur players as well as Seasoned players.
This is the WRONG APPROACH to take! What you need is aPLAN!! A long term plan to be profitable. And this is where Money Management Systems provide you with a tool to help you achieve the discipline needed.
One of the Cornerstones to many Money Management Systems is to create a unit of play. Let’s say for example, you decide to start your bankroll with an initial investment of $5,000.00. A healthy approach to starting your rollercoaster ride is toassign a 1%-2% of your total bankroll to the unit. In this case 1% of your bankroll would be $50.00. You can make your unit of betting $50.00.
For Amateur players or players just getting started… I suggest sticking to a System where you follow religiously 1-2 Unit bets. That is Industry Standard. Win or Lose. Stick to it. On the long Run, you will see your bankroll rise. Just be patient. ThisApproach is called FLAT BETTING.
For Seasoned Players, and players who have seen their bankrolls rise you can follow the next step in our approach. Next you can assign weights to the level on confidence you have on a certain game or proposition. Rate your Picks.This Approach is called SCALE WAGERING. An example can be as follows:
Low Confidence – 1Unit of your bankroll
Gut Feeling Confidence – 2 Units of your bankroll
Good to Excellent Level of Confidence – 3 -5 Units of your bankroll
*** There is always the possibility of passing on a game or prop. Sometimes the best bet is to not to bet at all.
Remember.... Always stick to the Plan. Don’t let early winnings derail you from your long term goal. And don’t bediscouraged by sudden loosing streaks. Both happen and WILL HAPPEN in this rollercoaster ride. The trick is to know how to weather those ups and downs.
Don’t bet more than 5% of your bankroll. It’s not healthy. It’s too risky. Going to get in situations where you want to hit a Grand Slam. Don’t do it. Remember there are NO LOCKS! There is no such thing as a SURE THING.
Be weary of games or propsthat look to good to be true. Oddsmakers are sharp and rarely do they miss the beat. When you see 85% or more of the public on a certain side… be careful… those are not SURE THING BETS!!.
On the average, you can bet 2%-3% of your bankroll on a prop or a game. Never bet more that 5%.
Benefits of having scaled wagers is that when your hot, or you see a very interesting game or prop, it allows youthe freedom to bet a higher amount during those hot streaks and less during cold ones. As you get more experienced, you will get “the feeling” to identify those hot spots, and realize when is the right time to adjust your bet sizes. Always remember the higher your bet, the more risk your taking. And never loose sight of your long term plan.
Sports Betting is a lot like the Stock Market. Thereare high risk stocks, low risk stocks, high yields, low-safe yields. You have to find the right balance and build your Portfolio, not putting all the eggs in one basket. DIVERSIFY!!!
At year’s end you can evaluate your results. Tipically with this approach and the right tools and investigation your bankroll has to be bigger than before. Based on your results, you can establish a new UNIT of...