The average sports or football betting fanatic doesn't know this - the true professional does. It is this; that sports betting is really just like any investement - even if you are the best
'picker' in the universe, you will still go bust if you don't employ good money management techniques.
So here are some simple rules:
1. Do not bet more than you can afford to lose or too big a percentage of the money you have set aside for gambling.
You wouldn't put all your eggs in one basket if you were in the stock market and similar rules apply to betting.
2. Forget 'point' or 'star' or 'dime' betting - you should be flat betting the spreads to the same monetary value until you hit your next target level.
Personally I do not go more than 1% of my bank. I bet a fixed amount based on my starting bank. When I move to the next level I then recalculate the 1% again and bet at that new dollar amount to the next level. I tend to recalculate the 1% whenever my fund increases
or decreases by 20% or so.
3. Varying your bets invariably leads to trouble and increases the temptation to 'chase' your bets when on a losing run. Try to stick to grind. It can be dull but will be profitable in the end. Logically, if you increase your bet size after a good run
- you could just as easily hit a bad run - only now you are betting bigger stakes. The opposite is also true. You cannot predict when any streak will come
that is why it is important to keep your bets level.
4. It's important not to give in to fear. Know this, that more than 94% of the time it is likely that you bank or fund will be less than
it was when it first started out. You hit new highs intermittently and the wait can be soul destroying. But knowing these points and reading
more about matters such as standard deviation will help you to remain in contro psychologically.
5. Just rememeber going 3-10 is just a common as going 11-3 on win to loss ratio. You just need to bet long enough to see the profits come in.
Also bear in mind that if you expect to win around 57 percent of your bets - it is of course likely that over say 200 bets
you will have won 114. Likely but not definate. You could still be in a losing situation over a sample of 200 bets or, indeed, in the position
of having a far better win rate than 57%. Good luck!
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