Professional Sports Handicapping Service
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Sports Betting - Profit and Money Management

We tend to overthink what sports betting is and how to make money from it. In the most basic terms, sports betting is simply an investment, just like buying a house or putting money in the stock market. And, just like any other investment, your success in sports betting will be directly proportional to the amount of risk you incur. You'll often find people, even myself, telling you that sports betting is not a "Get Rich Quick" scheme. The fact is, however, that it CAN be. But, if you pursue the "Get Rich Quick" angle, you should also be prepared for the case where your effort turns into a "Go Broke Quick" accomplishment. If you are in a position in life that allows for great risk, then go for it. If not, you should adopt a more conservative stance.

Here I will outline for you a few different money management strategies for different financial situations. Depending on your current bankroll, risk allowance and profit aspirations you can pick and choose some traits from each of these methods to create a method that is just right for you.

Slow and Steady, Like a Turtle

This is for those of you who have a significant bankroll and are only in sports betting for the Long Term profit. You realize that your money will gain about 8% for you in the stock market, so you think that a "mere" 20% gain is more than enough to keep you happy. You have no interest in chasing 400% gains because you either aren't interested in the risk or the stress is just too much.

This bettor will play 1% or even less of his bankroll per play. He understands that losing streaks happen, and he will bet small enough to know that a bad week, month or even year won't wipe him out.

Vroom! Vroom! Crash?

While I do certainly preach about betting small, that's not actually what I'm trying to convey. My true goal is to inform people of the best mathematical approach to handling their bankroll. If you are at a point in your life where you can afford to take on extra risk, then it is by all means your right to do so.

This strategy is nothing more than short term calculated recklessness. It is often for people who deposit a small amount (such as $200) with their online bookie and have no patience to be making $5 bets. These people will bet 20% or more of their bankroll on every play. Over the long haul, you will lose money with this approach, but it could very well triple your account in a couple of days if successful. Just be sure to have a goal in mind. Eg., deposit $200 and be very risky until you balance reaches $600, and then calm down a bit.

One Chunk at a Time (my favorite)

As an investor I want a goal, a plateua to aim for. If my $1,000 turns into $1,3000 using one of the methods above that's great, but I'll still feel like I'm at step one of infinity because there is no end in site. This investment strategy focuses on short sprints to reach a goal. After every sprint you will have either succeeded or failed. The overall goal is to have more successes than failures. Alter as you please, but my method involves taking your actual bankroll and breaking it down into several smaller bankrolls, and playing with one of those bankrolls at a time. This is also great for people who are starting off with a very small bankroll and are okay with being risky. These people could very well use their entire bankroll as the "smaller" bankroll.

I'm going to take my $1,000 bankroll and turn it into five smaller bankrolls of $200 each. I will simply play my $200 until I either double it or exhaust it. Once one of these two endings happens, I start over with a new bankroll of $200. I am starting with five mini-bankrolls, and my long term goal is to have as many mini-bankrolls as possible.

This method is great for those who want the satisfaction of immediate results as well as the security of a long term investment.