In order to succeed at sports betting, you must be able to pick winners
and manage your money. In fact, without both you are
destined to fail. The single biggest reason
why sports bettors fail is because of the lack of proper money management.
Just like a good business plan, you must have a plan for betting on
sporting events.
The Plan
All plans must start with a Bankroll, defined as the amount of money
that you have set aside to risk on sports wagering. Your bankroll does
not have to be the amount of money that you have on hand, just the
amount that you can comfortably lose without affecting your lifestyle.
In this example, we are going to use $5000 as our starting bankroll.
Next we will select a Unit Wager. Use 2% of the bankroll as a unit
wager.
$5000
X .02 = $100. $100 would be your unit wager. Wagering on sports is
very similar to a stock on Wall Street. Your bankroll is going to go
up
and down, so we must be able to weather the storms and a 2% wager allows
us to do this. The final step is find a safe way to safely increase
you wagers as your bankroll increases.
Increasing Wagers
As your bankroll increases, there is a need to increase the amounts of
each unit wager. Use 20% increments or 10 units. 10 X .02 = 20%. Simply
put using the $5000 starting figure, one would increase his unit play
to $120 after he won 10 units. His bankroll would be $6000. Therefore
$6000 X .02 = $120. Your wagers would then stay at $120 until you hit
the next level or dipped back down to the $5000 mark. A dip down would
result in a $100 bet, and an increase to the next level, ($120 X 10
units = $1200 + 6000 = $7200) would result in a $150 bet,($7200 X .02
= $144 or $150). It is important to note that you always round up to
the nearest $10. Your bet size is increasing but your overall risk
remains the same. Let's look at the different level of results using
this system.
Level of Results Based on +10 Unit Increments
By increasing your bet size at predetermined levels without increasing
your risk you can safely build a nice bankroll. Let's take a look at
the results of a person who started with $5000, and used this system.
| Units |
Unit Bet |
Bankroll |
| 0 |
$100 |
$5000 |
| +10 |
$120 |
$6000 |
| +20 |
$150 |
$7200 |
| +30 |
$180 |
$8700 |
| +40 |
$210 |
$10500 |
| +50 |
$260 |
$12600 |
| +60 |
$310 |
$15100 |
| +70 |
$370 |
$18200 |
| +80 |
$440 |
$21900 |
| +90 |
$530 |
$26300 |
| +100 |
$640 |
$31600 |
| +110 |
$720 |
$38000 |
| +120 |
$900 |
$45000 |
| +130 |
$1080 |
$54000 |
At +130 for the year you are still betting just 2% of
your total bankroll. Your risk is the same as you started. You are simply
taking advantage of an increasing bankroll. The key is the predetermined
levels of increase.
Conclusion
You must be patient in the beginning and you must be ready for some rough rides
along the way. Of course at some point you will reach a level on your unit bet
that you feel comfortable with and you should stop increasing your wagers and
start dragging money from your account. That, of course, is when the fun begins.
This only works when you are getting sound advice on your wagers. Best of luck.
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