Bankroll Bankroll Bankroll!

• Author: Ed
• Filed under: Tips
• Date: Jun 30,2008

What exactly is bankroll?  Today we’re going to talk about money management.  The critical skill that can be applied to any betting opportunity (casino / sports) which when used successfully will yield a sharp increase in profits.

Essentially money management is just that.  It is the ability to manage ones ‘bankroll’ as gamblers like to call it, and to know when to quit etc.  

So – today we’re going to look at some basic rules to help us in the long running.

Firstly – avoid the exotic bets – this means you are focusing on straight bets and flat bets only.  Why do exotic bets exist? Sure they are attractive, but chances are you can do exactly the same with multiple straight bets.  Exotic betting helps one person; the bookmaker!

So what is a flat bet?  – Flat betting means betting similar amounts every time you play.  Similar amounts mean more calculated losses and our profits which make it easier to forecast and predict what is going on.  So for example:

Team A) are the favourites – Bet £30 to win
Team B) not so favourite – You bet £10
Team C) the underdogs – You bet £5

So let’s just say that team B and team C have just won, because you weren’t using a flat betting strategy, you’ve lost potential profit from these two bets.  If you had increased your bets to £30 for each team while your risk is slightly higher, your profit is also considerably higher.   Obviously for this to work one has to win more games than you lose, but generally this is not difficult.  What is hard is sticking to your guns and playing it through!

Continued..

• Author: Ed
• Filed under: Tips
• Date: Jun 21,2008

Following on from the previous post on sports betting terminology we’re going to go one step further today and take a look at some written terminology today in order to help us understand the ‘jargon’ a bit further.

Sports betting can be like a science with very complex literal notation to describe games and other events.  However, with a bit of practice it is easy to decode and start using it to your advantage.

Lets start by taking a look at odds.  They are a nightmare for many people, but they are actually really easy to figure out.

With every bookmaker there are always a number of betting types available, but what you need to be aware of are odds.

Many people over calculate the odds – but its very very simple.  Base it on this working -

If odds are 8/5 then for every £5 you will get $8 back.  so if you have a bet of £15 you will get – £24 back. 

If odds are ‘even’ and you wager, £5 – you will get £5 back + £5

Odds on: if your odds are 1/2 you wager £1 and get £0.50 back

Basically in ‘modern terminology a 1/1 bet returns 200% i.e £1 + £1 a 2/1 returns 300% your initial bet + 200 % profit.  if you bet a 1/2 you get 150% (100% plus 50%).

Odds are a trouble for many people. Don’t get confused at the race track or at the bookmakers. It is important to be able to calculate your winnings so that you can have strong gaming sessions. Another handy hint – Many mobile phones now have calculators. Don’t be afraid to use them.

Enjoy your next betting event.