Two Tips for Better Sports Betting Money Management
Without a question, one of the most important disciplines in sports betting is money management. Without a basic understanding of how to manage your bankroll you will not be able to sustain the ebb and flow of sports investing. Here are two tips to better sports betting money management you can use to build a better bankroll.
Most of the Documented Handicappers will use a unit scale when they bet on the big game. At Documented Handicappers, our unit scale ranges from 1-5, 1 being the smallest and 5 being the largest. Most professional sports handicappers use a unit scale but this isn’t for everyone. Basically, our unit scale means that you wager $100 for a 1 unit play and $500 for a 5 unit play. We have plenty of aggressive clients that have larger bankrolls that will just bet a percentage of their bankroll such as 1-4% of their bankroll on each play. When it comes to money management, betting with a unit scale should be left to the experience sports bettors and if you are just starting out you may want to look below.
Flat betting is wagering the same amount on each selection. This is a very common money management technique used by novice sports bettors and professionals. It can benefit many beginners for the simple fact that it teaches you to be disciplined and bet the same amount each time and not chase after a big loss. Once you chase you have lost your discipline and you need to be slapped. Chasing can be very dangerous and it’s a sure fire way to blow you bankroll. Flat betting is really a great way to minimize the risk and stay the course. Sports investing is about long term growth, there is no such thing as get rich quick in sports betting.
These are the two most common money management techniques used in sports betting and it can help you determine which method is right for your investing. In gambling you have to be able to ride the wave. Even the top online sports handicappers could go cold. A hot table could go cold. It’s all about staying disciplined and knowing your limits. If you have a $5,000 bankroll to start you shouldn’t be wagering $2500 on the first play. It’s just not sensible or economical. If you are out to just have a fun weekend in Vegas then have at it but if you are in for the long term than you need to start small, build your bankroll and then be able to adjust. No one says you have to stick with flat betting or a unit scale, you have to determined the right money management technique for you and your bankroll.
“Two Tips for Better Sports Betting Money Management” written by RC Blevins of Documented Handicappers