Most sports bettors have been there, I know I have for sure, listen-up, in the early days I busted more banks than Butch Cassidy.
In this article we are going to discuss sports betting bankroll management and to a lesser degree, record keeping.
If you’re in the sports betting game to win you must pay special and give undivided attention to bankroll management.
Frankly, I must say that if you’re personal finances are in a mess you will most likely not be very successful with bankroll management when betting on sports, not least because it’s generally more difficult and temptations are arguably greater than day-to-day living. On the other hand, good bankroll management when gambling can be educational and is for sure a transferable skill you can use in your daily life.
One of the first things to realize about sports betting to win is it’s not a sprint; it’s a real slog, a marathon. Experts will differ slightly in percentage stake of your bank per bet but anything from 1% through 3% of your bankroll is a reasonably safe strategy. It follows then that if your bankroll is $500, then $15 ought to be your maximum stake.
OK, Ok, Ok, I hear you, “where’s the fun and excitement in that stake, how terribly boring”
Well friend, if you’re very serious about setting out to win at sports betting long term that’s just the way you have to play it.
The second point is record keeping. You must write down every bet you make, every stake you stake, every win you make and every loss you take – without exception.
In fact, you really ought to expand on the basic math and selection. It will really help you in the long run if you were to write a reason or 2 about why you made the selection, the conditions that day and any other relevant factors or idiosyncrasies you can think of. Believe me, when you have this information staring at you from 100 bets made, it’s meaningful, and you can use the historical data to help you win more in the future.
That’s about it for this article, but pay attention to bank roll management and record keeping in your sports betting and you have a real chance of coming out a winner with your sports bets.
And talking of winners, here’s something special for you.
If you haven’t quite yet got the discipline or confidence to make your own selections I want to show you how to win at Sports Betting with the help of a Cornell PhD Graduate who knows all about winning, oh yes, he knows about winning alright, it’s a must see.
