M88 – Many bettors simply focus on the methods to raise winning percentage. They spend much time on looking for tactics, strategies or betting systems which they are profitable as they think. They forget the most critical point, winning is not important, money is your goal. Why is that? Assuming you have 5 winning bets, your earning is $500. Case 2, you just win 4 bets, but your earning is $550. Which case do you want to be in? Without a good money management, we won’t make any money. That is, if you don’t pay attention to money management, you might not be able to take that “next” step to becoming a “sports investor. Managing money is managing our risk. Our goal is to conserve our capital or hard-earned money, then multiply that amount by many times.
In this section, we will show you how to manage money to increase your bankroll by using Flat betting and Unit size betting. It is actually helpful to take advantage. Let’s start right now.
1/ Flat betting
First of all, we need to understand what flat betting is. That is, bet the same amount for each play, you should not increase bet size based on the last bet (or series of bets).
People often hear about some various systems at which you can increase your bet size, raise your winning chances sooner or later. In fact, these systems are not as magic as you think although they might seem to improve short-term performance. A bad streak could endanger your bankroll fairly quickly.
Sensible sports investors and professional money managers advise bettors to minimize the chances of “blowing out” their investment portfolio. Flat betting will help you to stabilize bet size and keep walking in betting world.
2/ “Unit size” betting
Firstly, you should think about the type of investor you want to become in the future, aggressive or conservative, experienced or novice? When you have your own answer in your mind, you could determine the size of your typical wager. This is the process to shape your betting unit size.
Studies have shown that conservative sports investors (or beginners) should bet 1%-2% on a play, aggressive sports investors often bet 3% on a play, while very aggressive investors might bet 4% or 5% of their bankroll per wager. The average value recommended is 2%, because it helps you to resist a losing streak while helping to build up your sports investing bankroll. If you take a risk at 4% – 5%, a bad streak could cut your bankroll in half (or worse). You then might feel to give up or reduce your bet size – just before the inevitable hot streak and lose your opportunity to make money. Therefore, the advice for you is to stick to your approach and stay disciplined with the betting unit size you choose at the beginning. It will maximize your value and reduce the risk of going broke. Don’t to be affected by 1 or 2 times failure or initial victory.
3/ “True” Bankroll and “Risk Capital”
To manage money efficiently, you should know exactly how much you have in your bankroll. Normally, the “true bankroll” for most casual bettors is higher than what they have in their accounts. If you want to live on sports betting, you should practice and improve your money management skill, because professional always know their “full bankroll” and need to preserve their “capital” versus “risk of ruin.” Once investors take a serious look at their finances, they might better understand the “true” level or amount they allocate to sports investing. This is one of the most compulsory and Indispensable elements bettors need to equip for themselves.
To conclude this section, we would like to quote one sentence which is related to our topic “money management”.
In essence, good “money management” is a lot like playing good defense. Money management will allow you to “stay in the game” during tough times so that good handicapping strategies (your offense) can put you ahead.