Money Management Continued…

• Author: Ed
• Filed under: Tips
• Date: Jul 2,2008

The other day we were talking about flat betting.  I hope you all understand now the benefits of avoiding exotics and focusing on a solid betting system based on likely winners.  Today we’re going to continue on the topic and talk about bankroll some more, but we are going to be speaking about determining appropriate bet size.

Determining an appropriate bet size is crucial in gambling because it lets you make every bet profitable; even if your last one wasn’t.  It does not mean using a martingale system but it means betting enough to maximize your winnings, whilst not risking your bankroll.  Let’s face it, sometimes we have bad runs of luck.  If we have a good betting system, these runs are minimized. 

As a general rule; larger bettors like to limit their exposed bankroll to a figure like 2% – 3%.  This is great if you have £20k to invest in gambling; but if you have £100 what do you do?  Ideally you can stick with this rule, but it is not much fun.  Increase the risk, and change up to 5% – 7%  of exposed bankroll per bet.    Why? because it’s a smaller amount, and if you are winning small bucks, it is not very gratifying. So increase the risk to see a faster return and it will become more personally gratifying if you stick by your rules, and work your system. 
What to wager?  I mentioned above £100 in your pot that is in my personal opinion far too low to operate a longer term strategy for two reasons.  You can’t sustain losses for long; and profits are not so great.  If you’re testing the waters by all means, but try and put an amount in your bankroll that you can realistically profit from. REMEMBER:  You should never risk money you depend on.  Separate gambling into a segment of your income and treat it as a hobby.  If you need food to eat, do not put it in your gambling fund.  Got a spare $10? Put it in there, and keep that money for gambling.  Too many people blur the lines and this is when big problems happen.  Remember and be realistic and pragmatic as your money in gambling needs to be disposable.