subject: Money Management for Betting on Sports [print this page] Money Management for Betting on Sports Money Management for Betting on Sports
The one area that most sports bettors need help with is a money management system to implement into their sports wagering. The main reason that most sports bettors lose is improper money management from the start. Even if you were to have access to winning sportspicks - without a proper money management system, the picks are useless. First you need to set up your gambling bankroll. Your gambling bankroll should consist of the money you have set aside to risk on your sports betting. Your bankroll should not involve money used to pay out your mortgage and bills. It is prudent to separate your home expenses and gambling expenses by having two bank accounts. Next is to consider what is your betting size is destined to be. You should almost never wager more than 5% of your bankroll on any one game. Simply because in sports wagering there is certainly no "sure thing" or "lock" as some sports handicappers may have you believe. There are many pros and cons and various assumptions to the sports which is beyond your control. The bets should be in the 2-4% range of your most present bankroll. We say "current bankroll" because every bettor will have some winning streaks and some losing streaks throughout the course of the year. It doesn't matter who you are, you will experience some losing streaks all through the year. By limiting your betting amount to 2%-5% the risk of losing entire money is minimized. Lastly and most importantly - for good management of your capital plan to work you must have a little self-control. It is easier said than done and for a bettor it is a tough challenge to become a successful bettor. You won't always succeed and you have to be able to indicate control in these conditions or you will find yourself digging a hole you may not have the ability to climb out of. The problem most sports gamblers have are they fail to look at sports betting as an investment when in fact it is just that. Don't forget that old saying "sports wagering is not a sprint, it's a marathon". The daily or periodical consequences are immaterial. Instead, don't rush, stay focused and employ self control. Sports wagering can be one of the most lucrative investments available today if you get the advice of a reputable sports handicapper who will help you manage your money like an investment.
