Money
Management 101
by John Rayzohr
Lots
of folks have had lots of things to say on the topic of
money management in sports betting. And this article will
add to the already considerable fray of what constitutes
"Good Money Management." But being an introductory
level article, and in trying to give a simple to follow
laymans assessment of "Practical Money Management
Advice" we're going to take a more pragmatic tact
in approaching money management theory.
So,
before we begin to look at the topic, I'd like to ask
you to take an earnest evaluation of yourself as a sports
bettor and ask yourself why you care about money management
in the first place.
The
reason I ask you to ponder this question, is because the
way you approach the topic, and how likely you are to
stick with any money management "scheme" is
quite often dictated by what type of "gambler"
or "bettor" you are.
For
instance, a "recreational bettor" who enjoys
having $20 a week on Monday Night Football regardless
of who's playing, should approach money management significantly
differently than a $500 a game bettor who plays 1000 picks
a year hoping to average in the 56-60% win range. Obviously,
these two are at nearly opposite ends of the spectrum,
and the middle ground in between where most of us fall,
requires a bit more careful analysis. But once you have
decided which end you are closer to, you can likely make
the determination of whether you are a serious sports
bettor looking to use your money as an investment type
vehicle, or whether you are more a recreational gambler.
So
with the above mentioned, take a second and decide whether
you are the type of bettor who is just looking for a bit
of entertainment and to avoid going broke, or if you are
the type of sports bettor who prefers to do the requisite
work and research and wants to make some sort of living
or second income out of beating the books. Neither choice
is "better" or more correct than the other,
but if you don't know what your goals are at the outset,
its nearly impossible to devise a plan that will be functional
and help you achieve those goals...
If
you have decided you are more a recreational gambler,
and would like some solid tips and money management advice
to help you preserve your bankroll throughout the season,
visit this link: Money
Management for Recreational Gamblers
Alternatively,
if you'd prefer to look at more advanced theory on the
real nuts and bolts behind using sports gaming and money
management as a vehicle to provide a second income, check
out the following: Sports
Betting Money Management Strategies
