Bankroll and Money Management in Sports Betting
by Sheldon Hall of Predictem.com
Here is a little strategy I use to help preserve my bankroll throughout a season. It’s easy to implement and simple to use. The hardest part is adhering to it. First and foremost, please don’t use money that you cannot afford to lose. So don’t play with “scared” money is what I’m trying to say. You will need to start at your comfort level and bet accordingly.
Like I said earlier, the most important thing when it comes to sports betting is certainly your bankroll. This is the money you can afford to play with. You don’t need this money for anything else. No matter what kind of system you play or use you will always have to structure your bankroll the same way.
ANOTHER STRONG WAY TO MANAGE YOUR BANKROLL IS TO BET
AT REDUCED ODDS. THIS MEANS BETTING ON GAMES AT -105 ODDS INSTEAD OF THE
SPENDIER -110 OPTION. YOU CAN FIND THIS AT 5DIMES
First, you will breakdown your entire bankroll into 4 separate, but equal blocks. This way, you will only risk 25% of your entire bankroll and be able to protect the rest of your roll should you hit a losing skid.(And this can happen!)
Here is an example:
Let’s say that you have a $1000 to start your bankroll. Any sum will do, but let’s use a 1000 in this example.
So, you breakdown the $1000 into 4 equal parts.
1000 divided by 4 = $250.
Now you start to bet your games with this first $250. As soon as your first block of $250 is doubled you add it back to your bankroll.
So now you have $1000+ $250=$1250. Follow?
All you have to do is break this new total down into 4 equal parts. So you would have 1250/4 = 312.50!
Now if you like, you can raise your betting unit (the amount you usually bet on a game) and make a little more money. When you have doubled your first block again, repeat the same process. Now you would have 4 blocks of $390.63. Do it again. Should you experience a bad losing streak and you lose all of your first block, you would do the opposite.
Example: You lose your first 250 of your $1000 total bankroll, you would then have $750 left. Take this $750 and divide it by 4 again and you will get $187.50. And then just repeat the whole thing again. You move up as you win, and down as you lose your blocks. Always divide it by four and you will have your knew amount to bet with.
As I mentioned, this is the most important thing. Money management is very important and will either make or break your career. Use it to build a good strong bankroll in the long run. You have to start small, and build it up. Rome wasn’t built in day, so it has been said. Just make sure you never bet over your head, and don’t use “scared” money.
Any good sports tipster will tell ya that sports gambling is a marathon, not a sprint. Make sure you have enough stamina (or in this case money) to see it through to the end. Manage your bankroll, you will be glad you did!
Good luck! – Sheldon Hall