This weeks Sports Betting Preview is up
and ready. Gambling Experts Marco D'Angelo,Vegas Runner, and host RJ
Bell discuss the following topics direct from Las Vegas:
-- Dallas @ New Orleans Preview
-- C. Florida vs Rutgers Bowl Preview
-- San Francisco @ Philadelphia Preview
-- Green Bay @ Pittsburgh Preview
-- Minnesota @ Carolina Preview
-- NY Giants @ Washington Preview
-- Vegas Runner's Free NFL Pick (10-2 last 12 Weeks)-- Marco D'Angelo's NFL Free Pick (12-4 Last 16 Weeks)
-- RJ's Free NFL Pick (7-6 with Free Picks)
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This was originally posted by Starguzzi. I marked it in my favorites and recommend others do the same.
Koufax, Here, read this & save it like I did when Greg posted it: (The Link is Live; Click it & Save it.)
MONEY MANAGEMENT--KEY TO BETTING SUCCESS
by Greg Shaker on 05/09/2009 11:57 AM
Money management is something often overlooked and also something that is vital in being successful at sports betting. In fact there are many good handicappers that can pick games at a high rate of return but they fail to actually pocket anything because they don't have clear program to do so. I am going to attempt to sway those of you that are floundering with this most important part of sports wagering. This is something that I posted at pregame.com a while back and thought it was blog-worthy.
One must have a clearly defined bankroll. A good bankroll is defined as the amount that you have allocated and set aside toward your wagering and not just what you might have in an online book at this very moment. It should be an amount that you can comfortably lose without putting yourself in a bind or changing your lifestyle in a dramatic way. For the sake of this example I am going to pick a bankroll of $5000. Yours might be higher and yours might be lower.
BANKROLL UNIT BET
A bankroll unit bet is simply the amount of money you would wager per bet based on a percentage of your total bankroll. I recommend 1.5% per Unit based on my plays but on average my usual play would be 2 Units or 3%. I will also use that for this exercise. By limiting your average bet size to just 3%, you are in a position to weather any storms that will come your way. Your bankroll is going to flucuate much like the S&P on Wall Street. But the goal is to always see your money make an increase over a period time much like a quality stock will do. My Money Management Plan allows you to do that and also allows you to increase your wagers at safe intervals.
The Plan is a very simple one. Start will 3% wagers and increase your wagers as your bankroll increases, but do it at safe 20% intervals. This will allow you to get well over and beyond any real possibility of going back to the previous level but will also increase your chances of pocketing more money as your funds grow. I had hoped to build a chart and I will but for now I am just getting the info up as I feel it is very important. Take note that because I am using 3% Bankroll Plays as an example, it would take 6.67 Units won (3% X 6.67 = 20%) to reach the next level. That works out to be about 1.55 Units per week if you set a goal of moving up each level monthly. (1.55 X 4.3 weeks) It is important to note that once you reach a level, you should keep your wagers at that level until you reach the next one, either up or down. Now, for the fun part. Let's see what results would be based on these facts....
BANKROLL UNIT BET UNITS WON
$5,000 150 6.67
$6,000 180 13.34
$7,200 220 20.01
$8,600 260 26.68
$10,300 310 33.35
$12,300 370 40.02
$14,700 440 46.69
$17,600 530 53.36
$21,100 630 60.03
$25,200 760 66.70
$30,200 900 73.37
$36,300 1090 80.04
As you can see, by winning 6.67 Units per month, in one year, your bankroll would increase from just $5000 to over $36,000, yet your overall risk would remain the same, just 3% per wager. By increasing your wagers at pre-determined points and keeping your wagers at a basically even keel, you will be more successful than you have ever been before. Of course, at some point you will want to stop increasing your wagers as you reach your own comfort level. That is when the real fun begins as you start dragging your money of your accounts. At this point, all you need to do is to make sure you are getting good advice on what to bet or have a plan yourself to accomplish that same goal. I have certainly reached my comfort level and you will too if you follow this program. I hope that you choose to do so.
Another good thing to do is check out the daily podcast that Dan Bebe and Mike Hook do. As well as the videos that Marco, RJ, and Vegas Runner do. There's some really informative and insightful stuff there.
That being said, as a beginner you should keep in mind that the info you gather from the podcasts, videos, blogs, etc., should mostly be looked at as guidance and educational information. Meaning that you shouldn't just follow whatever you hear or read blindly. Don't get me wrong pregame has some of the smartest pro handicappers around. But even the best are wrong 45% of the time.
My advice to you would be to:
1) Start following all of the material I mentioned above (podcast, blogs) as well as converse with all the pros in the forums. These guys have been doing this a long time and can offer up a lot of knowledge. Take notes if you have to. It's worth it!
2) Develop a handicapping style of your own. While all handicappers take everything into account when breaking down a game, some value certain things over others. The areas most handicappers look at are:
situational advantages/disadvantages (i.e. going against a road nba team on the second of a back to back game)
I'm sure there are other angles that different handicappers use as well. The point is to find a healthy mix of whatever angles you value and create a system that works for you.
That being said, like I mentioned earlier you should gather all the info the pros put out there, but stick with whatever system works for you. It's always beneficial to hear a pros opinion about a certain play, but sometimes you might not agree with it and have to reevaluate your breakdown. This website is not all about providing winners (which it definitely can), but more about educating everyone, from beginners to pros.
3) The most important step is to develop a good money management system, and STICK WITH IT!
4) Always be learning. When you have a good day or a bad day, evaluate what worked and didn't, and use that in the future.
5) When it comes to wins/loses have a short term memory. Don't let 1, 2 or even 10 loses bring you down. Remember it's a marathon. The same goes for wins. If you go 4-0 one day, that's not a reason to double your normal maximum bet the next day.
6) Have fun with it.
ozzie one good tip.. when these pros host a chat, which they do quite regularly, go in the chat and ask these questions and youll be sure to get a response.. for example, jr odonnel is hosting the chat for tonights bowl game.. go in there and ask him some of these. good luck
Wanted to see if you guys could comment on some tips for beginners. Specially guys like me who are just getting started trying to build a bank roll.
How to manage? At what point or how much money should we set aside for premium picks? How many handicapper's should we have in our pay for picks? And how much should your bankroll be before you start using premium picks?
Not only would that be informative but it would help build your customer base.