How to Manage Your Won Money at Gambling and Sports Betting from Busting it Up at Online Sportsbook
Have you heard stories about people hitting big jackpots, winning high staked all-in Texas Hold'Em poker or going on hot streaks in sports betting ???
Of course you have.
And what happened with most of these (short time to get large amount of money) people ???
Simple answer -- they got a complex of being unbeatable and lost all the money they got in these short time and even went busting their entire bankroll in trying to get back on hot streak.
Don't let that to EVER happen to you.
All you have to do is to follow...
RULE No.1: Maintain The Right Money Management.
1st and most important rule you have to implement is how much money are you going to maximum bet on 1 bet ?
These can either represent a:
# % of your bankroll (like 2% or 5%) or
# it can have a fix amount (like $200 or $5000).
I myself bet 5% of my current bankroll and I change my stake every 2 weeks (that's 2x a month). That means that I start a year with the 1st day of NBA regular season and I bet a $1000 on a single bet. Then I change amount every 2 weeks BUT my stake is always 5%.
My starting bankroll is $20.000 and 5% is $1000. After 2 weeks my current bankroll is let's say $28.000 so 5% is $1400 and so I bet for the next 2 weeks $1400 on every SINGLE bet.
But don't just read these lines here but...
STOP READING AT THIS MOMENT and GET a decision HOW MUCH WILL YOU BET on every bet from now on !!!
Take as many time as you want (minutes or hours I don't care) but please don't do it for my sake but DO IT FOR YOURSELF !
Believe me you will thank me more then once in future for these step you will MAKE NOW !
Let's continue to...
RULE No.2: Always bet on SINGLE bets ONLY !!!
The classic mistake an average bettor makes, is to bet on parlays.
In any pro sports where any team can be defeated it is suicidal to bet on doubles or higher team parlays.
Yes -- the odds are getting also higher but your chances are more rapidly falling then odds for winning this parlay is increasing.
Fact: more teams you put in your parlays, the less chance you have to beat sportsbooks in the long run.
You might win some parlays once in a while but in the long run you are just throwing your money away.
And that's it.
Stick with this simple 2 rules, obey them and you will be minimizing the risk of busting your entire bankroll in less then a week.
Bruce Goldmayer is a well known sports betting investor that also published an ebook "Spank Your Bookie - How to Make & Save TIME and MONEY with Sports Bettting".
You can GET a FREE Chapter or DOWNLOAD his ebook at http://www.spankyourbookie.com
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