Sports Betting
Money Management
WHY IS IT NECESSARY TO USE MONEY MANAGEMENT? Well, for one thing it is very important to stay in the game (not go broke!). The professional gambler follows a strict set of rules when wagering. The amateur plunges with a helter skelter style that defies logic. The following floating unit system is one of the most successful money management systems: STEP ONE: Player must determine how much he can afford to lose over the entire season. This should be done for each sport separately. There should never be a limit on how much can be won. By establishing this limit the player now determines how to wager. STEP TWO: Player must establish a unit system of wagering. Player should never wager more than 5% of his limit (bankroll) on any one game. STEP THREE: Player must realize his bankroll will vary day to day, consequently so must the size of his wagers. Let's use a few examples for clarification. Let's say that Joe lives in Las Vegas where he can wager on sports. Joe figures that from the beginning of the college basketball season to the end he will be able to comfortably lose $10,000. This is Joe's risk capital. If he were to invest in the stock market he would have to do the same thing. Now that the loss limit (bankroll) is established, he can proceed to establish a betting plan. Joe figures that he will be able to win between 55% to 70% of his plays. He also knows that he will probably win a higher percentage of his better plays than the weaker ones, so he needs a unit plan. Joe now sets up the following plan. On his top games he will wager 5% of his total bankroll, 4% on his next level selection, 3% on the next, 2% on the next. He feels he will have 4 different ratings. The 5% play he will call a 5 Star, 4% - 4 Star, 3% - 3 Star, 2% - 2 Star. Now that that is established, this is what the betting plan will look like: $10,000 BANKROLL
WAGERING UNITS:
5 Star - SUPER Play or 5% Play4 Star - STRONG Play or 4% Play3 Star - MEDIUM Play or 3% Play2 Star - LIGHT Play or 2% Play
$500 per game (Maximum Play)$400 per game$300 per game$200 per game
(Amount is determined by multiplying total bankroll by % of play) The following is optional, but we do recommend following it. Now comes the tricky part. Joe knows when he wins or loses his bankroll will vary and he sure doesn't want to be betting too much if he is on a cold streak, or for that matter, too little when he's hot! Joe establishes a work sheet so that at the end of each day he will know exactly what his bankroll is. This is what it looks like: Beginning Bankroll $10,000
11/25 Plays5 Star Texas ($500)3 Star Auburn ($300)3 Star Georgia ($300)2 Star Tennessee ($200)2 Star Oklahoma ($200)
ResultsWONLostLostLostLostLost
Money+500-330-330-220-220-600
New Bankroll $9,400
11/26 Plays5 Star Auburns 5 Star Golden State4 Star Seattle3 Star Tulane2 Star Florida
Bet Amount$470*$470$376$282188
Rounded Bet$450$450$400$300$200
*NOTE: Because Joe would have problems betting exactly these amounts he rounds his bets off to the nearest $50 level. The new betting amounts are established by multiplying the game rating by the amount left in the bankroll. If Joe's bankroll were to go up, his bets would go up in proportion. This money management system keeps Joe in the game and allows him to take advantage of hot streaks and protect himself during cold streaks.
http://www.sport-betting-links.com/
http://www.sport-betting-links.com/directory/aaasportsandcasinos.html
WHY IS IT NECESSARY TO USE MONEY MANAGEMENT? Well, for one thing it is very important to stay in the game (not go broke!). The professional gambler follows a strict set of rules when wagering. The amateur plunges with a helter skelter style that defies logic. The following floating unit system is one of the most successful money management systems: STEP ONE: Player must determine how much he can afford to lose over the entire season. This should be done for each sport separately. There should never be a limit on how much can be won. By establishing this limit the player now determines how to wager. STEP TWO: Player must establish a unit system of wagering. Player should never wager more than 5% of his limit (bankroll) on any one game. STEP THREE: Player must realize his bankroll will vary day to day, consequently so must the size of his wagers. Let's use a few examples for clarification. Let's say that Joe lives in Las Vegas where he can wager on sports. Joe figures that from the beginning of the college basketball season to the end he will be able to comfortably lose $10,000. This is Joe's risk capital. If he were to invest in the stock market he would have to do the same thing. Now that the loss limit (bankroll) is established, he can proceed to establish a betting plan. Joe figures that he will be able to win between 55% to 70% of his plays. He also knows that he will probably win a higher percentage of his better plays than the weaker ones, so he needs a unit plan. Joe now sets up the following plan. On his top games he will wager 5% of his total bankroll, 4% on his next level selection, 3% on the next, 2% on the next. He feels he will have 4 different ratings. The 5% play he will call a 5 Star, 4% - 4 Star, 3% - 3 Star, 2% - 2 Star. Now that that is established, this is what the betting plan will look like: $10,000 BANKROLL
WAGERING UNITS:
5 Star - SUPER Play or 5% Play4 Star - STRONG Play or 4% Play3 Star - MEDIUM Play or 3% Play2 Star - LIGHT Play or 2% Play
$500 per game (Maximum Play)$400 per game$300 per game$200 per game
(Amount is determined by multiplying total bankroll by % of play) The following is optional, but we do recommend following it. Now comes the tricky part. Joe knows when he wins or loses his bankroll will vary and he sure doesn't want to be betting too much if he is on a cold streak, or for that matter, too little when he's hot! Joe establishes a work sheet so that at the end of each day he will know exactly what his bankroll is. This is what it looks like: Beginning Bankroll $10,000
11/25 Plays5 Star Texas ($500)3 Star Auburn ($300)3 Star Georgia ($300)2 Star Tennessee ($200)2 Star Oklahoma ($200)
ResultsWONLostLostLostLostLost
Money+500-330-330-220-220-600
New Bankroll $9,400
11/26 Plays5 Star Auburns 5 Star Golden State4 Star Seattle3 Star Tulane2 Star Florida
Bet Amount$470*$470$376$282188
Rounded Bet$450$450$400$300$200
*NOTE: Because Joe would have problems betting exactly these amounts he rounds his bets off to the nearest $50 level. The new betting amounts are established by multiplying the game rating by the amount left in the bankroll. If Joe's bankroll were to go up, his bets would go up in proportion. This money management system keeps Joe in the game and allows him to take advantage of hot streaks and protect himself during cold streaks.
http://www.sport-betting-links.com/
http://www.sport-betting-links.com/directory/aaasportsandcasinos.html
posted by adairk at
9:40 a.m.
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