i try to read as much as i can about everything and i thought this article was great from a certain website for sports gambling with lots of stats. :SIB
The Key to Success
We feel this is one of the most important concepts when wagering on sports and recommend you establish a money management system best suited for your bankroll. More often than not, a winning season has as much to do with money management as it does picking winners. You show us a player with 60% winners and on the plus side at the end of the season and we?ll show you 10 guys with the same games (60% winners) but down money when the season ends.
The reason for this drastic difference is simply one word, DISCIPLINE. To prevent this from happening, we?d advise a unit system based on your purse or bankroll. Your starting purse should be the maximum dollar amount you can afford to lose for the season. You must set this amount aside and stick to it. You should never wager any amount that would change your lifestyle, win or lose.
Let?s give you an example to show you what we mean. We?ll set up a hypothetical purse of $6,000 for the upcoming season. First of all, do not exceed $600, or 10% of your purse, on the opening weekend. In fact, you should never wager more than 10% of your total purse on any given weekend.
Second, you must establish a unit or star system for the games you will wager on. We will do that for you if you decide to follow my betting advice. This part of handicapping is crucial as rating the games correctly could mean the difference between a winning and losing season.
Now back to the wagering. Let's say for example we have a 3*, 4*, and 5* play for you in College Football on opening weekend. Your opening purse is $6,000 so you do not want to wager more than $600 for the weekend. We have a total of 12* adding the three selections. You will divide the $600 by 12 to get the amount you should wager per star. In this case it comes to $50 per star. Now let?s say we win our two higher rated plays and lose our 3* selection. You will win $250 on the 5* selection, $200 on the 4*, and lose $165 on the 3* (10% juice figured into the loss). Your profit for the weekend will be $285, which is now added to the $6000 purse.
The following weekend you will use the same formula but with a total purse of $6285. This means you will be able to wager $628 for the second weekend (10% of total purse). It is imperative to use discipline and never exceed 10% of your purse. This system allows you to play more when you win and less when things aren?t going as well. If you?re the type of person who likes to double and triple up after a win or loss, you will find it?s just a matter of time before your purse is gone.
Again, we can?t stress enough the importance of a sound money management system. At the end of the season when we?re plus units and happy with the results, we don?t want you to be asking yourself, ?where are my profits??
i've seen a few people come on this site and say "all my bets are for 1 unit" but i strongly believe that is a faulty way of betting. as anyone who has seen my posts or followed my picks or has been successful in the least knows that adjusting bet amounts based on the strength of a play is key. i am well above (75%+) my overall average (60.5%) with my strongest, largest bets ($6+) and playing like that can make a 2-2 night profitable when a system based on equal units for every play is a loser to the juice with a 2-2 night.
just thought i'd share. good luck everyone! [/B] :toast:
The Key to Success
We feel this is one of the most important concepts when wagering on sports and recommend you establish a money management system best suited for your bankroll. More often than not, a winning season has as much to do with money management as it does picking winners. You show us a player with 60% winners and on the plus side at the end of the season and we?ll show you 10 guys with the same games (60% winners) but down money when the season ends.
The reason for this drastic difference is simply one word, DISCIPLINE. To prevent this from happening, we?d advise a unit system based on your purse or bankroll. Your starting purse should be the maximum dollar amount you can afford to lose for the season. You must set this amount aside and stick to it. You should never wager any amount that would change your lifestyle, win or lose.
Let?s give you an example to show you what we mean. We?ll set up a hypothetical purse of $6,000 for the upcoming season. First of all, do not exceed $600, or 10% of your purse, on the opening weekend. In fact, you should never wager more than 10% of your total purse on any given weekend.
Second, you must establish a unit or star system for the games you will wager on. We will do that for you if you decide to follow my betting advice. This part of handicapping is crucial as rating the games correctly could mean the difference between a winning and losing season.
Now back to the wagering. Let's say for example we have a 3*, 4*, and 5* play for you in College Football on opening weekend. Your opening purse is $6,000 so you do not want to wager more than $600 for the weekend. We have a total of 12* adding the three selections. You will divide the $600 by 12 to get the amount you should wager per star. In this case it comes to $50 per star. Now let?s say we win our two higher rated plays and lose our 3* selection. You will win $250 on the 5* selection, $200 on the 4*, and lose $165 on the 3* (10% juice figured into the loss). Your profit for the weekend will be $285, which is now added to the $6000 purse.
The following weekend you will use the same formula but with a total purse of $6285. This means you will be able to wager $628 for the second weekend (10% of total purse). It is imperative to use discipline and never exceed 10% of your purse. This system allows you to play more when you win and less when things aren?t going as well. If you?re the type of person who likes to double and triple up after a win or loss, you will find it?s just a matter of time before your purse is gone.
Again, we can?t stress enough the importance of a sound money management system. At the end of the season when we?re plus units and happy with the results, we don?t want you to be asking yourself, ?where are my profits??
i've seen a few people come on this site and say "all my bets are for 1 unit" but i strongly believe that is a faulty way of betting. as anyone who has seen my posts or followed my picks or has been successful in the least knows that adjusting bet amounts based on the strength of a play is key. i am well above (75%+) my overall average (60.5%) with my strongest, largest bets ($6+) and playing like that can make a 2-2 night profitable when a system based on equal units for every play is a loser to the juice with a 2-2 night.
just thought i'd share. good luck everyone! [/B] :toast:
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