The Secret to Sports Betting Money Management
The Secret to Sports Betting Money Management
The most important factor in winning consistent profits in sports betting is not how many games you win. Pure and simple, it is money managment.
With a proper system of managing your bankroll, it is entirely possible to win less than 50% of your plays and still make a healthy and consistent profit.
Professionals, those few people who bet on sports for a living, know that it is not possible to win more than 65 - 70% of their plays. There are just too many factors that determine the outcome of each game; and, it is impossible to handicap all of the factors. What they do know, however, is how to manage the number and size of the bets they make.
There are plenty of money management "systems" touted on the internet. The problem, most of them are indeed a system, but, very few of them address the most important factor - RISK!
Porfessional sports bettors, like stock market investors, follow trends. All trends follow cycles; and these cycles all have high and low periods. It is not hard to spot trends in sporting events. The secret is having a proven system to manage betting on these trends.
THE LABOURCHERE SYSTEM (the "Labby") is the money management system that the pros use. The principle was developed by professional roulette players becasue it only requires a 39% winning percentage to break even. And, because most sports bettors can hit at least 50% winners, even by accident, the Labby system provides for a consistent profit, but, more importantly, a lot less risk than the more popular systems used, namely the Martingale, or "Double Up" system.
If you bet using the martingale, where you double after every loss the progression would look like this:
You bet $50 and you lose.
Your next bet is $100. If you lose:
Your next bet is $200. If you lose:
Your next bet is $400. If you lose:
Your next bet is $800. If you lose:
Your next bet is $1600. If you lose:(well, you get the picture)
It doesn't matter how many times you double up your bet, you will only win the $50 if you eventually hit. This takes into account all your progressions up to that point. Can you imagine risking over a thousand dollars for a chance to win fifty dollars? The risk just simply far outweighs the benefit.
With the Labby, you start with a four-number line. Let's say you play the same $50 per play as in the above Martingale example. The line would be:
25-25-25-25
Your wager is always the sum of the two outside numbers. As you see above your base bet would be $50. Now lets suppose that we lose our first wager. A losing wager is placed at the end of the line and our new line would be
25-25-25-25-50
Therefore your next wager would be $75 (25+50) as highligted above. Let's suppose that we win our next wager. You cross out those two numbers and create your new line:
X-25-25-25-X
Thus your next wager would be back down to $50. Understand? Your goal is no longer so much to win every game or to focus on the daily ups and downs but our goal it to clear lines. Each 2 times we clear a line we raise our bet which means growing bankrolls and faster profits. After we clear the line above 2 times our next line would be: 30-30-30-30 with a base bet of $60.
The best part about the Labourchere is that you get back all of your losses without doubling and quadroupling your bets. It is a safe and efficent way to maximize our bankrolls while minimizing risk.
Start using this system in your sports betting life; and you will gain control of your system and your profits.
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