If you want to survive in the game of sports betting, Casino Guide in South Africa 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 News 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, Casino Guide 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, Place Bets On Sports just remain diligent and the rewards are sure to follow.
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In a previous article I jokingly suggested I had put all my assets – my savings, the deeds to the farm, my kids’ Trust fund, and the proceeds from selling one of my kidneys – on a horse at Newbury. I showed this was potentially financial suicide, and an extreme example of bad money management.
I wrote that more often than not a losing punter will find himself saddled with a bunch of bad betting habits. It is these bad habits that have gotten him, and his betting bank, to where his is now – the Poor House.
To arrive at a change in fortune, and to start making consistent profits, the losing punter has to be prepared to make changes to the way in which he bets. In the previous article we talked about the cornerstone supporting my own personal betting strategy, and that is finding value in every bet you make.
You will only ever make a profit from betting if you consistently back horses at prices too high when compared to their actual chance of winning. This is exactly how bookmakers have made their money for generations – they consistently lay horses at prices too low compared to the actual chance of the horse winning. When punters continue to take these low prices day-in and day-out, it will only ever be the bookmakers who come out with a profit in the long run.
The second ‘bad habit’ I want to examine is the subject of inappropriate staking. What do I mean by staking that is not appropriate? Well, what I am driving at is placing bets that are generally too large in proportion to the size of your betting bank.
Before I expand upon this, the concept of a betting bank is a side-issue in itself. You categorically MUST have a sum of money put aside for the sole purpose of betting. It scares me rigid when I hear of people simply ‘dipping’ into their current account to place a bet using their debit card.
If you do not have a separate account for your betting activities, you cannot keep records, and you will not be able to answer that simple question, “Am I making a profit, or a loss?”
It goes without saying, that betting involves a degree of risk, and you should never bet with money you cannot afford to lose.
Getting back to inappropriate staking, the idea of lumping all your money on one horse is an extreme example of over-staking. Of course, on the one occasion this strategy may pay off. We had friends round a few nights ago to play one of those Race Night DVDs. I was comfortably in front by studying the form before each race, and placing considered bets at what I considered to be value prices. As you might imagine, I had a suitably smug expression on my face as we came to the last race, and our friends were complaining I enjoyed a ‘professional advantage’.
My wife then decided to put every penny she had left on an 8/1 chance. The race turned out to be the ‘lucky last’ for my wife, and she walked away with the whole bank!
But seriously, continue with these tactics, and it will not be long before you lose everything.
Personally, I would never consider starting any betting campaign with a bankroll of less than 100 points. In other words, I will divide my bank by 100 to arrive at my unit stake. You can see that I will only ever be putting 1% of my bank at risk when I place a bet.
This is a very generalised approach, and you might argue that a little more consideration should be given to a punter’s typical strike rate. True, if someone has a strike rate of 50% then it is statistically highly unlikely that he will suffer a run of 100 losers to go bust. So, in this case you might be justified in operating a smaller bank. Bear in mind that when flipping a coin, it is by no means unusual to see 6 or 7 ‘heads’ in succession, and losing runs in double figures do occur.
Erring on the side of caution, you could foresee two such losing runs occurring twice in close succession. In which case, I hope you can see that even when considering a system which such a high strike rate, having a bank of well over 20 points now seems very sensible.
With my own Redd Racing betting service, we enjoy what I would consider to be quite a healthy strike rate. However, we have experienced a negative swing of some 60 points during one particular month a couple years back. The account recovered to make a profit by the end of the month, but it underlined the importance of having a bankroll large enough to absorb the losing runs that EVERYBODY has to endure from time to time.
Indeed, it would probably be better advice if I suggested members of my service had a bankroll of 150 or even 200 points in reserve.
Yet I often receive emails asking me whether it is OK to deposit £100 with Betfair and start with unit stakes of £10.
Betting with stakes too high in proportion to your bank normally comes out of a desire to make money quickly. I think we are all guilty of getting overly greedy sometimes, and unwilling to think a little more long-term. People are inclined to set themselves unrealistic profit targets, given the size of their betting bankroll. Having a bank of £100 and expecting to be able to make £100 per month is not realistic. Get-rich-quick does not exist.
Akin to the Tortoise and Hare story, let me give you an example of where what might initially seem like a very moderate return, actually gives surprising results over time.
If you started with £100 in your betting bank, and increased this bank by just one-half of one per cent every day, after just 6 months your account would have a balance of £244 due to the compounding effect. You could more than double your investment in 6 months with this seemingly small daily profit return. Take that to your bank or building society and see if they can come anywhere near such a deal!
Hopefully this demonstrates how ‘slowly but surely’ wins the race.
To summarize, my advice would be to set your unit stakes at one per cent, or even one half of one per cent, of your total betting bank. By striking only value bets, and when the odds are in your favour, your betting bank will grow. As your bank grows, so you can naturally increase the size of your unit stake to make more profit – but your bets will still be in proportion to your bank.
In the next part of this Sensible Money Management series, I will look at more bad habits that suck money from the accounts of losing punters.
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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.