Money Management applies the superior investing principle of wagering a percentage of available funds on each game. Generally speaking, the general rule of thumb for money management is never wager more than ten percent (ten%), of your total bankroll on any particular day. Systems and methods vary, but the general acceptance of the general rule is somewhere between 1 and 20%. Most of the accepted money management systems are based on percentage return, usually taking into account daily record keeping. The Labouchere, Paroli and Darbinyan systems are based on daily record keeping.
The D’Aulaires, D’Cournger and Martingale systems are based on daily record keeping plus varying martingale rates. The Labouchere system is a simple system of progress, Darbinyan is a progression system and the Martingale is a progression system with an automatic stop, at which point your profit is recalculated from your bankroll and not your original stake.
The PAG system is a negative progression system that is usually applied to even money ( Positive expectation) odds bets. It is a simple system of progress, rarely being used today in any of the sports that I play.
There are mixed views on the perfect percentage bet, namely whether you should bet high or low. The percentages are around 95% or 99.5% generally, the lower the the percentage the lower the risk and the higher the percentage the higher the risk. Any system that gives you a result of over 96% is one that you should probably ignore. The King’s Poker Secrets written by David Parker, is a good book to read on the subject of percentages, performance, money management and the like.
Sports Handicapping and Money Management – Money Management
The subject of money management is a tricky one, primarily because it is not as simple as one would think. It is not just a matter of doubling your bets. The method you employ is not just a case of wagering your selections blindly. The process of refining your mind and strategy when handicapping and then managing the funds involved can be tough andealous. You will get a lot of losing bets, you will make a lot of losing bets and you may even lose a lot of money.
You must put a lot of things into proper perspective before you proceed, not only regarding strategy, but also regarding the finances andppers of the enterprise you are handling. Michael Jordan said, “3 things I learned from Michael Jordan #1 wasyright all of my mistakes, #2 was practice and habit – I developed myself.” When you learn from the past you improve your chances of predicting the future, but you may not improve your chance of predicting the past.
You can see a lot of players with large bankrolls who are throwing it all away, gambling, blowing the bankroll and living life on the edge. If you start with a small bankroll you may be risking the chance of losing it all. When you start with a large bankroll you may be risking the opportunity of increasing your bankroll.
The process of bankroll management is the most important part of being a successful egp88 bettor. Once you develop a sound betting and handicapping system that give you a really good edge, you will make a lot of money but you will also be risk a lot of it. You want to reduce the risk of losing a lot of your bankroll to an absolute minimum.
Managing your bankroll can include the following measures:
- Be sure you have enough funds to play through any losing streak you get.
- Don’t ever risk a large percentage of your bankroll without having a really good reason to do so, like beating the point in a tournament when you have a large stack of chips.
- Use a system to manage your bankroll, like the one I describe in the link at the bottom of this article.
- Think about what you will do when you have a big win• Think about what you will do when you have a big loss
There are things you can do to increase your chances of keeping your money for as long as possible. These particular suggestions come in several parts. First, you should not be in the habit of using your winnings to pay for almost anything. If you have not had a good day at the tables, stop gambling immediately, go outside, get some fresh air and sigh happily to slowly breathe in the fresh air before returning to the tables. Second, you should always have a big enough stack to play through the inevitable losing streak. Be aware that winning streaks can end at any time. Always think about your profits and losses in relation to your bankroll. Never gamble if you are in a bad mood because this will only make you desperate to make up for your losses.