Money Management Tips
Here are some tips for any gambler who is looking to always be pulling money out, albeit not as flashy as the 10K bet all or nothing play of the year:
1- flat bet. If you make a bet you believe it will win, so why think it will win any more than any other bet. Unless you have solid math to back up your reasoning you should always flat bet, and if you were that good with math you would not be looking for money management tips here.
2-Break your money up into enough bullets that you can survive the downs. I usually divide my bankroll into 30 bets. After that I put a goal of where I want to get to before I set my bet size again. I may lose 4-5 bets in a row but I have been doing this long enough that I know I can beat the books at 53-55% and make a profit long term. I never lower my bet size because I believe I have given myself enough outs that I will never lose 30 units gambling at 53-55% and adjusting my unit size only up.
3- Take advantage of bonuses, low vig, free contests. This was a lot more prevalent back a couple years ago when the economy. Now with the economy picking up and the legal climate getting a load better there will be a lot more out there for the common joe bettor to pick up. (Because that is who the books really want the money to go to.) 100% bonus is like free money as far as I am concerned. I figure with the bonuses and contest winnings and low vig I can hit around 45% (which is actually hard to do even if you try) and still break even. So hitting well over 50% makes me feel very comfortable I will never go on tilt to the point of where I wonder if I will lose my entire bankroll.