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Money Management: By: MAXLock Loading...
Written By: MAXlock
Managing a bankroll is one of the biggest problems gamblers have. If you wish to become a successful sports investor this is the first thing you must learn to do, even before you can learn to pick winners at a successful clip. Notice I emphasize the difference between “gambler” and “sports investor.” I do this for two reasons: The first being a gambler is one who has little control over his gambling habits. He gambles for the rush, does not pick his “spots”, gambles on prime time games for the sake of simply watching the game, lets his emotions get the best of their them actually analyzing the game and so forth. The symptoms of said gambler are endless. Ultimately and unfortunately these people find that their balance in their sportsbook account end with a 0 all too quickly. The ironic part about it is that that person may be a halfway decent handicapper but due to their inability to manage their money they don’t profit on sports betting. On the other hand a “sports investor” is one who has a sound money management plan going into the season, stays objective when handicapping a game, takes quality time to analyze all angles of a game, does not bet a game simply due to its popularity, and so forth. The second reason I choose to differentiate between a “gambler” and “sports investor” is due to the fact that many outsiders, meaning those who don’t bet on sports, the term “gambling” is quickly and ignorantly judged. At the same time mention that you’re a sports investor and you’ll quickly find out that you’ll receive a more welcoming response.
Most professional sports investors recommend only betting between 2-3% per game of your entire bankroll. Based on my capping abilities and success rate I find that rule of thumb to be too restrictive Knowing my personal handicapping abilities and the success that I have had year after year I choose to have a slightly more aggressive approach in the range of 3-6% of my bankroll. Even to some a 3-6% bet size may seem too small, but this is actually a sound money management plan. You have to understand that not all weeks will be winning weeks. Even the best seasoned handicappers understand there may be a few bad weeks in a long season and you have to make sure that the dry spells are covered.
A simply calculation of a 4% per game bankroll would be as follows. Investor A has a starting bankroll of $1,000. Take 1,000 multiply it by .04 (which is equal to 4%) and you get a recommended bet of $40. For our more serious investors who have the luxury of a 10,000 bankroll, a 4% per game bet would be followed in the same mathematically formula. Take 10,000 multiply by .04 and you get a recommended bet of $400. The reason for sticking to a money management game plan is that you have to account for some of those bad weeks you may have. You don’t want to bet wildly by risking 30% of your bankroll on one game, or worse yet go “all win.” These as I pointed out before are symptoms of a gambler. They’ll quickly find out that their account has “dried out” in a matter of weeks or even days. sportsbooks and bookies love these types of gamblers. In sports, especially those that have 80-162 games played it is vitally important to understand that this is a MARATHON, not a sprint. I’ll say this now and I’ll say it again before the football season starts. We’re in this run together. I bet what I post. So you know I’m spending quality time analyzing the hell out of these games.
This brings me to my exposition on how I recommend managing your bankroll for this Baseball season. For my baseball capping I will be recommending wagering based on modest units system that will fall in the range of 1-3. 1 unit =$100. For our NFL season you’ll see that I’ll up the ante. Units are a good scale if we all had bankrolls the same size, which of course we do not. Therefore I’ll be recommending not only units but also a percent of your bankroll that is recommended for that specific game. Read through the third paragraph to get a better understanding dealing with percentages. My recommendations will be based on a 4,000 bankroll. Each game played games will fall in the range of 3-6% of your bankroll. If you have a smaller or larger bankroll you will simply have to bet in proportion to the recommended unit size or better yet just take the percent. Case in point…For opening day I’ll have 3 games I’ll wager on. Being that it’s a week before opening day we do not know the lines. Hypothetically let’s say I want to bet 4% of my bankroll on all three of these opening games. The first game is played at 1:00 pm so you’ll know the result before the next two are played. The second at 4:30 and the third at 8:00. You’d take your bankroll size, $4000 for this example, multiply it by .04, which would give you a recommended bet of $160. So when I post my play I would post it as follows: 4% of your bankroll and 1.6 units risked. Now let’s say you won the 1:00 o’ clock game and you want to wager the 4:30 game and 8:00 game. The first game will be at 4% and the second game at 3%. Keep in mind that you won the first game so your bankroll now sits at 4,160. Betting the second game would be as follows: Take 4,160 x .04 and that gives you a recommended bet size of $166. Again, when I post this I’ll have it at 4% of my bankroll and 1.6 units wagered. Now that you have wagered on that game that drops your bankroll to $3994. For the last game of that day you want to wager 3%. Take 3994 x .03 and that gives you a wager of $120, or 1.2 units. Again, the reason why I will include the percent of my bankroll I am wagering is so you can make it proportional to your bankroll size. It wouldn’t make sense for a person with a 10,000 bankroll betting 5 units on game while at the same time a second bettor with a 2000 bankroll also betting 5 units. Hence my point about percentages. If you’re at this point in the article I hope you can learn a couple things about money management from this. Now let’s invest wisely and make some money!!
-MAXLock
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Originally Posted by LarryF
