Posts Tagged ‘pro football picks’

postheadericon Tips For Using Money Management With Sports Betting

Money management is definitely important for almost anything in the world, but this stands especially true for the online sports betting world. You can bet that if you don’t have good sports betting money management, that you won’t be betting on your favorite sports for far too long. While money management is something which simply comes easy to quite a few people, and not so easy others, it’s really something that you can learn as you progress with your time as an online sports bettor. My primary goal is to make you better overall in relation to online sports betting money management by offering some tips and suggestions to help you extend the length of your bankroll, and in addition size your bets properly as well!

Bet Sizing/What are Units?

This is one of the more crucial parts of online sports betting, as you never want to OVER bet. All of this will depend on the size of your bankroll of course, but it’s typically recommended by most professional bettors to stick with approximately 1% of one’s bankroll for every bet (i.e.: $1000 roll, $10 units). A”unit” for most professional sports bettors is $100, but it can be anything so adjust based on the strategy cited above and you’ll be fine. Obviously there may be definitely a little wiggle room, as a number of people will feel a little bit stronger about specific bets over others. I’d say a safe bet is to keep with between 2-5% of your own bankroll for straight bets, but you should definitely rank your picks based on your favorites to avoid betting larger amounts on bets you aren’t incredibly confident about.

Ranking Picks

A number of the best online sports bettors out there will rank their picks on a scale from one star to five stars (or one to five units). I suggest you come up with something similar. What this does is ensure that you avoid betting on games that you simply have a slight feeling on. The simplest way to make money sports betting is usually to bet on the games that you feel the most confident in right? So start by focusing on only your five star bets and see how it affects your bankroll as you move forward over time. Should you hit a rough stretch (it happens to us all) then drop down your unit size to make sure you keep an acceptable bankroll.

Time to Withdraw your Money

One of several tougher problems that most sports bettors normally have is deciding when and how much money they should withdraw from each of their sports betting sites. A lot of bettors choose to boost how big each bet after winning some, and that is really a decision that just you can make. But, if you choose that you want to continue to bet the same size for the near future after winning quite a bit, then you could definitely consider withdrawing back to around your starting bankroll. Many sports bettors will wait until they’ve doubled, or possibly even tripled their account in order to do this, but the best way to do it should be to formulate a plan and stick with it. So if you decide that you are going to take the $500 bankroll and play it up until you get it as much as $1000 and thereafter cash off $500 to get back to the beginning bankroll, then just consistently do that. On the other side of things though, in case you decide that you ought to up your bet sizing when it gets to that $1000, then make sure you stay with that plan!

For more info regarding sports picks and the best way to use money management take a look at Dynamite Sports Picks.