PenguinFan (Sports Betting Bankroll Management)

[Penguinfan]

Thats actually a very good question and honestly one I tend to avoid becasue nobody I know really follow sound money management. Most internet gamblers are in it for entertainment and hope to make a few bucks or have a get rich quick attitude.

If you think playing poker is a grind then you really don't want to try and make a long term profit at sports betting.

You should never be risking more than 3% of your bankroll on any one play and you should never be playing parlays or teasers, ever.

This means if you have a $1000 bankroll to start with you should be risking $30 a game and thats it. Sounds light I know, but thats the fact.

When should you "Move up" in wagers, well some people like me never do, I have found a wager I am comfortable with, albeit higher than 3% of my bankroll, and I just let the bankroll grow until I can take a significant amount out for something worthwhile (like the mortgage).

I really think people should be playing on the internet and not with a "local guy" simply because with a local guy the week usually runs from Tuesday to Monday night and you have a constant look at short run after short run and it is way too easy to "Double up" on the Monday night game because your way behind for that particular week or "really pound" the MNF game because you are way ahead for the week, and mostly becasue you are probably betting on credit as bookies don't require you to post up like internet books do. I think betting with a local requires much more discipline.

Over any given 10 plays I hope to make half of a base wager in profit, what most people call a unit. Thats honestly it, so for me over every 10 bets I hope to grind out, on average $100.

I am sure I have mentioned on here that I work for an internet handicapping web-site that has done pretty well, the two cashes at the Hilton contest for about 20 grand haven't hurt the numbers and you would be suprised at how many customers we have who go broke despite us giving them more winners than losers. Varying your bet size, parlays, action plays, etc... will ruin you, it has to be considered a grind because that is all it is.