Money Management For Gamblers

Money Management For Gamblers

The purpose of​ this article is​ to​ educate and inform gamblers of​ the​ aspects of​ sports wagering. With the​ hopes of​ leading to​ a​ more profitable wagering experience for you the​ player. I have had the​ distinct pleasure of​ speaking with many gamblers and it​ seems the​ one area that most need help with is​ a​ money management system to​ implement into their sports wagering.

Let’s jump right in​ and begin our focus on​ money management. First,​ let us start by saying that the​ main reason that 99% of​ sports bettors lose is​ improper money management from the​ start. Even if​ you were to​ have access to​ winning picks – without a​ proper money management system,​ the​ picks are useless.

This article is​ not intended for those of​ you that are recreational bettors and like to​ put down a​ few bucks on​ the​ occasion Sunday football game to​ make it​ more exciting to​ watch. On the​ other hand if​ you are one of​ the​ people that treat sports wagering as​ an​ investment,​ please continue reading,​ this article was made for you!

First and foremost you need to​ establish 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 include money used to​ pay your mortgage and bills. Actually,​ if​ possible you should have a​ separate bank account so you can keep your gambling and living monies separate to​ avoid any confusion or​ mishaps.

Next is​ to​ decide what is​ your betting size is​ going to​ be. You should almost never wager more than 5% of​ your bankroll on​ any one game. Simply because in​ sports wagering there is​ no “sure thing” or​ “lock” as​ some handicappers may have you believe. There are too many variables in​ any game to​ be able to​ control which way the​ ball will bounce and if​ the​ game will end in​ your favor.

Your daily bets should be in​ the​ 2-4% range of​ your most current bankroll. we​ say “current bankroll” because every bettor will have some winning streaks and some losing streaks through out the​ course of​ the​ year. it​ doesn’t matter who you are,​ you will have some losing streaks through out the​ year. By keeping your daily bets in​ the​ 2-4% range of​ your current bankroll you will eliminate the​ chance to​ lose your entire bankroll on​ one losing streak.

Lastly and most importantly – for good money management plan to​ work you must have some self control. it​ may sound easy but that’s not always the​ case and it​ can be the​ hardest part to​ being a​ successful sports bettor. You won’t always win and you have to​ be able to​ show control in​ these situations or​ you will find yourself digging a​ whole you may not be able to​ climb out of.

The problem most gamblers have is​ they fail to​ look at​ sports betting as​ an​ investment when in​ fact it​ is​ just that. Remember that old saying “sports wagering is​ not a​ sprint,​ it’s a​ marathon”. Your results should not be measured daily or​ monthly. Instead,​ take your time,​ stay focused and practice self control. Sports wagering can be one of​ the​ most lucrative investments available today if​ you employ our suggestions outlined above and proceed with caution.

Money Management For Gamblers

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