Posted Friday, August 05, 2011 02:42 PM
How to make money sports investing;
I've been gambling for a decade, profitably for 2-3 years. I became a student of the practice. Reading books, blogs, articles, questioning the greats on forums, blogs, websites, and simply trying countless systems. There is a ton of information out there, but bottom line, anyone can be profitable if they follow a few simple rules;
1) Money management
This is the single most important thing and the reason 80% of gamblers fail. For the sake of space and time, for today I will briefly mention a few components of money management (MM), without going into too much detail.
Units - Each bet should be a unit (a percentage of your bankroll between 1-5%). Some people run different systems with different unit amounts, but for a beginner, and most experts each play should simply be 1 unit at around 3%.
Goals - The power of intention is strong. Set yourself goals so you aren't playing just to play. Whether that be weekly, monthly or monetary goals, reach them and reset them.
Discipline - Another rookie mistake; losing two games in a row so playing 3 times as much on the third. To be profitable you need to stop this (ties into rule #3). How many of us were up 10 units, only to pop into sportsbook casino's and lose it all? Dont' chase (unless it's part of your style), stay out of the casino's, and stick with your unit system. Always. Or YOU WILL LOSE IN ... [More]