MONEY MANAGEMENT
How you choose to manage your money is an integral part of any gambling strategy. Before each internet gambling session, a smart gambler determines what his/her bet unit will be and when to quit. This action plan has its rewards - it can bring you joy (Wow, I walked away a winner!) and save you grief (I reached my loss limit, so I stopped).
Establishing a bet unit: If you are a conservative player, your bet unit should be 1% of your bankroll. For example, with a $500 bankroll your bet unit is $5 ($500 x .01 = $5). If you are an aggressive player, 2% of your bankroll may be used as your bet unit (with a $500 bankroll, your bet unit would be $500 x .02, which is $10). The important fact to remember when establishing your bet unit is that the fewer the units, the higher the risk of bottoming out during a gaming session. v When to quit: Set a win goal and a loss limit for the gaming session. Establishing a predetermined amount to win or lose will help you maintain control over your gambling. Both win amounts and loss amounts should be reasonable.
A loss limit of losing five consecutive game plays, or losing five bet units is reasonable. If you've met your loss limit during the session, why stay to lose more? Simply quit and take a break.
Establishing a win goal is a foreign concept for most gamblers. If you've met your win goal - simply cash out and take a break. Whether you set a win goal of one bet unit, or ten bet units, a winner is a winner - take your profits and take a break!
Money Management Tips: • Never bet an unusually large amount on any one game, no matter how good it looks. Set a limit and stick with it. "Locks" simply don't exist and many sports bettors lose big by falling into this trap each season.
• Never have more than 25% of your bankroll at risk during any given week, even if means reducing your wager amount.
• Stick to a flat betting system or something similar to avoid increasing your bet on high profile games. These games get more attention from the oddsmakers and the lines are tighter.
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