If you want to survive in the game of sports betting, Baseball Betting Tips in Popular then you have to use effective money management. I recommend that you follow these guidelines at all times.
- Only invest what you can realistically afford to lose. Tips And Predictions For Today you have to remember that you really do not need to start with al a lot of money. I got started with only $100 dollars and I followed the system and my money has doubled over and over again over the course of years.
- Do not make your initial bet too high. Only invest 5% of your total bankroll for a flat betting system (in which you bet the same amount each time) and no more than 2% for a progressive system. You need to be patient here and allow your systems to do their slow and steady work.
- Increase your initial bets when your bankroll has increased by 25%. This will increase your earning power, Baseball Betting Tips just remember to stick to the suggested percentages in #2.
- Remember to Diversify your portfolio. If you have a total bankroll of $1000 and 4 systems that you would like to use, then each system should be allotted $250 and you have to keep those amounts separate.
You have to be disciplined in your use of your systems and in your money management strategy. It can be difficult especially you are doing exceptionally well or if you are losing badly. You may be tempted to deviate from the systems or the money management guidelines in either of those situations. But do not, Soccer Predictions For Today just remain diligent and the rewards are sure to follow.
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This is the third instalment in a series of articles on profitable betting through sensible money management. So far, I have discussed the importance of getting value when you bet, to maximise the returns you achieve when your selections win. In the most recent article you should have learned to keep your stakes in proportion to the size of your betting bank.
Today I want to examine a common mistake that often gets punters into serious trouble – chasing your losses.
I don’t think there can be many of us who have not at some time, decided to get back what we just lost by betting a little bigger on the next race. It is sometimes known as progressive staking.
Let’s take a simple scenario: you bet £10 on Red Rum, and he loses. What do you do? Perhaps you continue with your selection methods and come up with another pick in the next race – Best Mate. The price is 6/4F
But, rather than putting another £10 bet on Best Mate, you decide to ‘chase’ your loss from the last race. You add another £7 to your stake so that when Best Mate wins you will pick up an extra £10.50 to recover the bet you lost on Red Rum. Good plan? Could be, after all Best Mate is a sure fire winner, right? May be. May be not!
What happens if Best Mate loses? You are now £27 ‘in the hole’. But you still have a plan. Your next selection is a dead cert winner at Even money. You place your usual £10 stake plus an extra £27 to cover your losses so far. No need to worry. When this one comes in, you will have re-couped your losses and have a £10 profit to show as well.
Let’s take a step back here. You are staking £37 to win a £10 profit. Think about it – you are effectively getting odds of only around 1 to 4 odds-on about a horse that is Even money in the market. That is terrible value!
You may escape this time and your horse may well win. But what if, heaven forbid, your red-hot even money favourite fails to win? After just three bets, you are down to the tune of £64 when your normal stake is just a tenner!
Long losing runs do occur, more frequently than you might think, and even with short-priced selections.
If you spent a day in a casino at the roulette tables, and analysed how many times you witnessed a run of 7 or 8 consecutive ‘red’ numbers, I would not be at all surprised if you saw this happen four or five times – in a single day. Here we have pretty much a 50/50 bet, even money, that the roulette ball will land in either a red or a black slot. Yet I was amazed to learn that the longest run of the same colour (reported) was THIRTY-NINE consecutive reds!!
Imagine if you were betting on black, and saying to yourself each time “no worries, it’s got to be black next time…. Surely?”
But let’s go back to the more common occurrence of a losing run of 7 even money bets. We will be betting on the red.
We place a £1 bet on the first spin. It’s black. We chase our loss by ‘doubling up’ and next bet £2. If we were to carry on in this manner, after 6 spins we would be betting £64 to win our original £1
I sincerely hope my point is getting across. By chasing your losses you can very quickly see your stakes climbing to preposterous levels, to win your original, relatively small stake. The risk is way out of proportion compared to the potential reward.
One last example to really ram the point home. The Racing Post runs a tipster competition. All the leading racing journalists are involved, representing the nation’s newspapers and horse racing publications. These are experts at tipping horses. Take a look at the results table any day, and see for yourself the longest losing run. Remember, these are the experts.
I looked today, and Racing Post PostData has suffered this season a losing run of twenty-seven. Twenty-seven consecutive losers from an expert tipster! And believe me, he is not on his own, just the worst offender this season so far.
There is an old saying – “Don’t throw good money after bad”. If your selections don’t make a profit from simple level stakes betting, don’t try and make them profitable by throwing more money at them. You may survive with a profit for a while, but this approach is a disaster waiting to happen. Sooner or later you WILL blow your entire bank chasing a disproportionately small profit.
If your selections don’t make a profit from simple level stakes betting, change your system.
Football Betting Tipsters Review - Football Betting Experts System
With the explosion of internet betting gone are the days when betting on the like of the NFL, NHL or the NBA are confined to just the outright winner or match handicaps (where the outsider is given a lead in order to make the best more even). As competition within the world of internet betting has mushroomed so has the range of bets offered as they compete to become ‘the leading exponent of US sports’. On any match now you can bet on ‘over & under’ which is betting on whether you reckon the total amount of points scored will be over or under a given number. Wider afield you can go for what the first scoring play will be or even who the Man of the Match award will be given or MVP (Most Valuable Player).
As a result the popularity of US Sports betting has also risen simply due to the fact that there is more for the ‘leisure’ bettor to get involved with and more enticing odds that those in the two horse race that is one side or the other to win. Whilst there is a huge lobby to restrict internet betting in the US the feeling that the bird has flown the nest is very strong as off-shore operators are queuing up for the business and many have now even listed themselves on the UK stock exchange giving them an immediate credibility.
For those of you with a nervous disposition it’s probably worth turning away now as the biggest growth area in betting in the US, outside of the monster that is Poker, is College sports! Yep, I’m afraid bookies will take bets on almost anything if the appetite is there – one was taking bets on how would die in the latest Harry Potter book another on the outcome of the Michael Jackson trial. Is nothing sacred, apparently not? And the NCAAF is no different – but before we judge to harshly, let’s not pretend that private underground wagering on the College sports has been massive for years so why not bring it out into the open. For those interested, Florida State and Miami are joint favourites in the ACC Conference Championship.
In the more mainstream fields Indianapolis just head the betting in the NFL over New England for the Superbowl XLI, its hard to split the Detroit Red Wings and the Ottawa Senators (who, with a name like, that should certainly know better than have a bet) in the Stanley Cup and in the MLB World Series its very tight in the betting between the New York Mets, Chicago White Sox, Boston Red Sox and the New York Yankees.
Well, happy betting as our eyes start to turn away from the World Cup (that’s soccer to those who only follow the US stuff) and look forward to a new season of Hockey, Baseball, American Football and Basketball
We hope this helps but visit TheSportsman.com or read the paper, out every day for more tips and hints.