It is tempting when you are winning to place a large amount on one bet, but what has gone before has no bearing on the result of the next bet. It is exciting to put a large amount on one bet, and a bit dull to put relatively small amounts down. Dull, however, is good. It is inevitable you will go on bad streaks no matter how good at picking winners you are, and it is money management that sets apart those who make money over the long term and those that don’t.
So how much should one bet?
If you have a betting balance of £10,000, risking more than £300 per game is too much. If you have a balance of £1000, risking more than £30 is too much. If your balance is £500, don not bet in increments of more than £15. This may seem cautious, especially if you have a small starting budget, but patience in betting is key.
The good news is, YOU ARE IN CONTROL OF THE BIGGEST REASON THAT PUNTERS NORMALLY LOSE. That is NOT the odds you pick, but is they way you manage your money.
Never EVER bet more than 5% of your bank roll and on average bet 2-3% of your betting balance. Don’t bet tempted, even when you are on an amazing winning streak to increase the amount. In an unbelievable season when you pick 60% winners, there will be a guarantee that there will be periods when you success rate dips below 40%, and without the correct money management this period could wipe you out.
If you can show restraint, self control and patience, this system will be the biggest single factor that will bring you long term success against the bookmakers.
Remember if you are on a winning streak and your betting balance increases, so does the size of your bets, as you are using a percentage method and as a losing streak kicks in the bet sizes decrease. A benefit of this is that it is impossible to ever completely wipe out your betting balance.
In conclusion never bet more than 5% of your betting balance on a game, try to average 2-3% per game. i.e. if you are less sure of a result lower your risk to 1% and conversely you are convinced your pick is a certainty you can increase your risk to 5%.
Try grading each bet from 1-5
1 = not sure of the outcome
2 = Quite Confident
3 = Reasonably Confident
4 = Confident
5 = Convinced of your pick
Then bet a percentage based on which group you place your bet, so you are always betting between 1-5% of your bankroll.
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