If you want to survive in the game of sports betting, Online Betting Website in Recommended 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. Sports Betting In America 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, Online Betting Website 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, Bet Sports Betting just remain diligent and the rewards are sure to follow.
Online Betting Website in Recommended?
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.
Betting On Horse Racing : Sensible Money Management (part 3)
If you look ten years back from now, you would probably recognize how difficult it was to manage some time from your busy schedule to get into a casino in order to enjoy your games. Time has changed and now you can essentially enjoy the same excitement and thrill of casinos right from your home computer. Casino online betting has come as a great boom eliminating the hassles and making it easier for people to reach out their preferred casino playoffs from anywhere and everywhere.
Leaving behind the requirement of traveling all the way to a faraway casino, you can now enjoy online betting at your computer with internet connection. Casino betting stands legal for all those who have attained the age of 21. So if you're 21 and looking to try your hands in gambling, you can join in the same excitement available right in your own room. A variety of casino gambling sites are lined in the internet aiming to bring you the best always.
In fact, if you happen to play in any online casino site from before, you will probably know what are the main advantages associated with online casino betting. The features that an online casino offers its players are usually more than what are available in any land based casinos. Today, the online casinos have emerged as the most choice able medium emerging as the largest revenue maker of the gambling industry each year.
The reasons that makes online casino gambling the most popular medium of playing selected casino games include:
1.Offering more choices of online betting sites: It is the online casinos that make casino gaming much simpler as possible in terms of selection of particular sites to play. Currently, the internet includes a large number of casino sites than the total number of brick and mortar casinos based worldwide. Thus, you need not have to worry about the distance of finding a good casino.
Finding a good site is just a few clicks away. Additionally, you can always change your site at your own ease. However, one vital thing to consider is to avoid any kind of rogue casino sites. Make your casino online betting an enjoyable one ensuring the sites that are recognized and do not cheat the player's money.
2.Convenient and easy withdrawal and deposit alternatives: The online sites offer a range of different banking options to help players in making their withdrawals and deposit. Most online betting sites accept major credit cards like Master and Visa for both withdrawal and deposit purpose. The use of wire transfer of money from the casino account to your banking account is safe and convenient ensuring a secure play each time. Additionally, you can also select to use other e-wallet options like that of Neteller, Entropay, Click2 pay, Money bookers, My Citadel to transfer the money to or from your own casino account.
3.Promotions and Bonuses to be won online: The bonuses and promotions also form to be an attractive option for casino online betting. You will never find these options in any brick and mortar casino. It is the online casino that offers you a range of welcome or sign up bonuses, cash back bonuses, no deposit or deposit matching bonuses and more. With these freebies, you will be able to increase your bankroll at ease. In addition, you can also make use of this kind of free money to increase your cash using them in your further bets.
4.Distance does not matter in the present date: With the inclusion of the internet casinos, there is no need to travel to a faraway casino. The online sites can be conveniently reached by clicking your mouse. Thus the online casino eliminates this distance factor. It enables people who reside in a far away place to sit and enjoy their favorite games online while playing from the comforts of their home or office.
5.Play anytime from anywhere: Continuing with the fourth point, the casino online betting includes one basic advantage that is it makes gambling more easier including the opportunity of playing from anywhere and at anytime. Wherever you may be, you can just connect your pc online and get started with your favorite games.