Sports Gambling Money Management
A gambling bankroll will make or break your gambling career. Folks gamble for many different reasons, and if you find yourself more often broke than a winner, then it’s time to find the discipline, grab yourself by the collar, and stick to a gambling budget that works.
Less than 5% of gamblers are winners over time. More often than not this trend has nothing to do with bad handicappers, bad research, or listening to uninformed people. People (gamblers) don’t budget their money correctly; they fail to manage their bankroll.
There are a few simple rules to follow when it comes to budgeting a gambling bankroll. You may be the type to play by your own rules, and even fly by what feels good at the time. This strategy can be good, and it can be a disaster. There are no viable shortcuts when it comes to money management. You must be patient, disciplined, and willing to listen to some great advice. This is a working formula, and you will see a money windfall if you are willing to take heed.
Three Key Elements to Successful Sports Betting - Money Management
• Handicapping games in the most effective manner possible, using proven methods.
• Shop around. You must find the best lines and odds. “A penny saved is a penny earned”.
• Stick to a budget, manage your bankroll as if it were Ft. Knox, and never lay all of your cards on the table.
1. What is Your Bankroll? You have a life outside of gambling and whatever that life is, you are the one that knows it, nobody else. Nobody can tell you how much to spend on gambling, or when to gamble, or what to bet on.
You are in charge of your money, and the money you spend gambling MUST be the money you are willing to lose at all times without altering your way of life. Always bankroll each sport that you gamble on, individually. Know how much you want to spend on the NFL, NBA, MLB, NHL, etc.… This may be $10 a game or $10 a week, or $1,000 a game or week. This is your business and nobody else’s.
2. Always know how much you plan to spend on any given game, match, player, or event. Never drift from this plan or soon, everything is out of control and you are chasing bad bets across the board. Stick to your plan. Remember, grab your collar, man up, and stick to the plan. This will save you in the long run.
3. College football/basketball Saturdays are crazy and there is a lot to bet on all day long. STOP! Never bet more than a handful of games on any given betting day. It’s difficult to stay sharp and never bet on emotion. Keep it to 10-games a day or less.
The basic guidelines are easy to talk about, however, they are not always easy to follow. Discipline is the key to success and at the end of the day, you will be cashing more winning tickets than losers. Shop for the best lines and odds, keep the daily grind to 10 games or less, and you will be a winner.
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Kyle Parker
