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Establish a Bank Roll
This is the money used for your wagering purposes only. This means don't bet the rent money, grocery money, car payment money and so on. When you do happen to catch a winning wave, treat yourself to a nice payout. Making profit is what it's all about.
Money Management
This is one of the major keys to winning in the long run. Ask yourself this question. How much can I really afford to lose today without having a "heart attack?" Think about it, be logical, then bet accordingly.
Some strategies are:
- Never bet more than 5% of your current bankroll on a play. You can have more than one play going, just make sure you stay at 5% of that current bankroll.
- Some players bet the same amount on every wager, having in mind that they will beat the break even point in the long run and profit this way.
I agree with both of these, but I also believe there will be certain games upon occasion that will be stronger than others. If you can spot these special games, then you might want to step up your normal wager just a little. The bottom line is bet with your head not over it.
Patience
This combined with money management will take you a long way. Patience is very important, not you or anybody else wins everyday or week. Everyone is going to experience some down times, it's just part of the game. Stick to your game plan and you will come out of it. In the long run you will have more ups than downs and that's what we're after.
Don't Chase Losses
The worst thing you can do after a losing day is to double up your wagering. For example in Football, if you have had a bad day, please don't start tossing out twice as much money on the Sunday or Monday night games and even the following weeks games, just to try to make up for the losing day you had. Stick to your game plan. Accept the loss and move on. You must buckle down and get ready for the next set of games to be played. It all goes back to money management and patience. You want to say in the game, not on the sidelines watching.
Parlays, Teasers & Straight Bets
Your "serious" bets should always be your straight bets. If you must play parlays and teasers, I would suggest using smaller wagers. If you happen to hit, this would be a "bonus" if you have a good day with your straight bets. I would much rather hit 2 out of 3 or 3 out of 4 on a good day, than have a losing day playing only parlays and/or teasers. Bet like a pro and use those straight wagers, you will prevail with the right information.
Keep Your Focus
A clear head is a must when it comes to sports betting. No matter if you're riding a winning wave, having a "down-time" or maybe a personal crisis. You have to dig down deep sometimes to keep your focus. Even taking some time off could be in order. Don't let emotions get in the way of what you're trying to accomplish. I hope these views have been helpful to new comers and vets alike in the sports betting world. Good luck to all this upcoming football season.
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