Beat the Book - Money Management

must read when time permits

Animal, whats the latest??

Good stuff here fellas ! Thanks ! I've learned something as well !

Yes a good topic, money management is the key,but so few can do it. It's ok to take a loss for the day and not to chase,always more games the next day.

The mistake most bettors make is betting different amounts of money on different wagers. For example, you bet $10 on a game and win, bet another $10 on a game and win, then bet $30 on the next game and lose. You're 2-1 overall, but you're down money overall. Poor strategy.

If you're confident you win more bets than you lose, bet the same amount of money on each wager....no matter how enticing one particular bet may look.

Also, never try a pyramid scheme where you keep doubling your bet after a loss. Sounds good in the short run, since you rarely lose four or five games in a row. But look at the betting history of ANY longtime Covers player and you'll see that long losing streaks do happen. I had a friend lose 20 bets in a row. Imagine what would have happened to his bankroll if he always doubled down after a loss!

Quit gambling is my suggestion no one wins in the end noone

 money management in simplesr form:

betting 2%-5% of your total bankroll depending if your betting hot or cold. a 5g br your max bet or bets should be 250 a day

Haha!! Jeffrey7 has it right, quit gambling... None of us will quit though that's the problem. I use the 5% method myself. I am not afraid to lose and try not to chase (it does happen). I have a blackout at 1 dime so if I lose 500 in a week I quit and start over on Monday. The main thing to stay away from is betting 7 round robins in a day. You can't win that many games. Bet 2-3 games a day and call it good win or lose. Seems to make the bankroll last a little longer. Good luck everyone...

Thanks to everyone who posted.......alot of very good information! I wish more of the posts were like this one....fantastic. Good luck to everyone in 2012

Blackie

The key to gambling is to make sure you win.  If you win, you arent losing anything and are profiting.  Bigger risk bigger reward but if you lose the money, its gone.  Make safe bets.  Find what you're good at.  Look for patterns and analyze, analyze, analyze.  Dont just look at what team is better, look at which team has the most motivation and why they have more motivation to perform.  Basketball has always killed me gambling, because I was always looking at the game and saying "this team is better than that one", totally disregarding which team is more motivated in the spot they are in.  When you bet against human nature you lose, when you bet with human nature, you will win.  Vegas is tricky with the lines on purpose.  You have to weave and dodge to figure it out.  Its entirely possible to do, but its not easy.  Some days there just arent any good bets on the board but every game has a winner.  You cant predict the future, so stop trying.  I'm no pro, but I know what I'm looking for now and hopefully that will lead to more success in the future.

Sevendst19.  It's been a while since I've been on this website.  Using your gameplan above, I would bet a $30 parlay, if it wins then I would bet 60 on a straight play.  If that wins, I should bet half of what(?) on a two teamer?  Half of my winnings? 

Hey Plisskin76 .... I've ben losing betting sports for the past year or so.  Even when I had 5k in my account last year, I kept playing until it vanished.  The lowpoint or one of the low points was doubling my losses at halftime of last years Super Bowl. 

The discussing I started about Money Management was a good one, but I'm still struggling to put it all together.  I read somewhere that amateur bettors will run out of money right before they hit a 13 out of 16 hot streak.  It happened to me.

Any advice or input?