Sports Betting Money Management

by: Aaron Toller

Money management is one of the key elements that many gamblers seem to forget or have no true understanding of its importance. The key to a gamblers success is not how often he picks a winner, but managing his wager risk to not get him self too far into debt should he experience a losing streak. Listed below are a few key elements that can help you manage your money and help make you a more profitable sports gambler.

1. Have a set bankroll.
It is vitally important for you to have a set bankroll. Have money set away that is just dedicated to your gambling investments. I recommend at least 150-200 units of money for each sport in order to wager and have a successful season. Example: If you have a $10,000 bankroll I recommend each unit you wager should be $50-$60.

2. Don’t bet too much on one game.
No matter how confident you are that team A is a lock to beat team B, there are no guarantees in sports gambling that your prognostication will come true. The point being is that even a team that seems unbeatable can be beat any day. That’s gambling, so why put the fate of the season and your bankroll on one game? The season is a long one, my friend, and proper money management will make the season go much smoother than risking it all on something that is far from a lock/guarantee. I recommend that you bet 1%-2% of your bankroll on each game.

3. Don’t chase your losses.
So your Saturday in college football didn’t go as planed. You didn’t win a single bet and you're down 10 units. The obvious thing to do is double up on Sunday on the NFL games right? Wrong. Doubling up your units is the worst thing you can do. You set out a system that you would bet no more than 1%-2% of your bankroll, so why double up now? Yes if you win you're back to even, however, if you lose you are now down double what you would have been. The bottom line is don’t chase your losses - I can’t emphasize this enough. Stick to what has been working. There will inevitably be ups and downs as the season goes along, so don’t let one bad day/weekend ruin your season and hopes of a profitable year by chasing your losses.

4. Don’t get too excited when you win.
So you had a big weekend in football, and are felling pretty good about yourself. You feel that every game you pick is a lock to hit, and then reality hits quickly that this is gambling, and the only sure thing is well, nothing. You decide that since you are on fire, so you decide to double up your units - don't do it. Resist that temptation and remember: Don’t chase and stick to your system. If you elect to double up and have a few losing days and look there goes your profitable weekend. Your weekend has been wasted and you’re back to square one. Don’t get over excited because you have a big weekend stick to the game plan and you will have a shot at a very profitable season. 

Aaron Toller Past Articles

Sports Betting Money Management
Money management is one of the key elements that many gamblers seem to forget or have no true understanding of its importance. The key to a gamblers success ... read more

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