Why do we need to have a bankroll when betting on sports?
Sports betting is fun. But most of us don’t know how to keep our bankroll. In this article, I’ll tell you how to maintain your bankroll the easy way.
Bankroll the easy way
The way to maintain your bankroll the easy way is to adhere to a bankroll management system. Using a sports betting system will help you keep your risk down, and will allow you to progressively build your bankroll.
Most of the best systems will have a defined statistical approach and often use a low risk system to identify winners. These systems can be used for any sport, so it doesn’t matter whether it’s baseball, hockey, soccer, football, or basketball… you can use a sports betting system to win in any sport you want to bet.
Adhering to bankroll management systems will allow you to work towards your goal of going from a casual bettor… into a self employed bettor that places Truth be told, I personally believe that if you don’t take a stab and increase your bankroll on a consistent basis, you’ll be gone. The truth is that if you don’t bet aggressively and with timing, you WILL lose… plain and simple.
Taking it to the extreme, that is, betting on everything and anything can also be a recipe for disaster. Casino gambling is a business for the hyper aggressive. Chances are you’ll lose a lot of the time. But, you can’t lose the numbers game, and that is how a professional gambler operates.
Betting on sports is the perfect example of bankroll management. Is it possible to consistently win at least 70% of your bets?impossible, but it can definitely be done. You need patience, discipline, and a strategic approach. The other issue is that true bettors like to bet big. They don’t like to bet anything and everything. They bet everything they have on every single game.
And believe it or not, most of those who do bet on sports use aorial sports betting systemsto do so.
We discussed personal warranties in the previous chapter. This is certainly a key component of successful sports betting. Without stating the obvious, if you wager on sports you will lose — it or somebody else will — you should expect to lose. It’s how you manage your bankroll that will make you successful or not.
Whether betting on the NFL, NBA, NHL, MLB or any other sport, virtually every bettor faces the same situation. They’re probably going to lose more often than not. It’s how they manage their bankrolls that will make a difference.
The bottom line is that it doesn’t matter where you go or what you gamble on, you can always lose. It’s all a matter of some very basic mathematics and continuation of a responsiblegambling system.
But you can do what John Morrison does. He didn’t trust his instincts, he ignored impossible odds, he didn’t double up for losses and he insisted the books were not out to get him. He won and now he’s one of the fastest rising bettors in the world.
Our advice is to always follow John’s lead, bet small, win big and rarely lose. Then when you lose, be cool, collected, and leave the casino or the game as soon as possible.
By the way, if you’re going to bet on sports, here’s a little something you should consider. Casinos in Las Vegas are in business to help you lose your money. Have you noticed how they can get away with almost anything? Remember, entertainment is their bread and butter.
I can’t stress this enough. If you’re a smart player, you will implement money management. Just like any investment, you should optimize your betting strategy to take the risk out of the equation.
Yes, you can play till you drop, but you have to stick to a blueprint or system. If you’re not sure, or you have a curiosity that needs answers, it’s probably better to just save your money until you have a little surplus to bet with.
A smart money management strategy takes discipline and patience. It’s not going to work if you just bet a lot of money on every game. You need to be patient because winning is not an overnight thing.
A good money management guideline is to set aside a certain percentage of your bankroll for each game or bet. Perhaps 2% for home teams, 4% on the underdog, and 6% on the favorite. Once a week, maybe as much as 10%, and on a monthly basis.