Note: Here is an excellent essay on sports betting system money management written in 2011 by my friend Russ in the sportsdatabase.com googlegroup forum. I don’t completely agree that this is the best way to do things, but the thoughts are so incredibly solid. Let it be a starting point for you to develop your own money management sports betting system strategy!
A Different Perspective on Money Management
By. Mr. East
Let me begin by saying, I am not a gambler, but an astute investor, and 10% of my portfolio happens to revolve around sports, because I am good at it, or let’s say learned how to be good at it.
There is one critical area where I differ from anyone else you will ever see in this culture. I don’t view sports wagering as a football season, or a baseball season, I view it as a continuous investment cycle measured in 5 year increments. I happen to play 6 sports per year (MLB,WNBA,NCAAF,NFL,NCAAB,NBA)
Let’s assume you had money to invest, and sought out a savvy financial guru to help you. You liked his track record, is approach, and decided to opt with him (or her). You hand him the money you want to invest, and let’s say it is the same 24,000.
Three months later you take a peek at your portfolio and the stock market is going down fast, and with it your portfolio is showing a 20% loss! You also notice he is buying more stocks, because that is the right strategy! So if your measuring him over 3 months, he can’t possibly help you! If you don’t give him at least 4-5 years, he knows he can’t help you, because there are fluctuations within the marketplace, but he also knows, long term, he will benefit from them!
See, sports wagering is exactly the same, but 99.9% of people approach it completely differently! If they have a losing football season, it’s over, they lost! Hold on! if you tapped out, your right you did lose, and money management is your issue, sound familiar?
Here is my approach. I know I will win in every sport over 5 years, I don’t know which year I will win in which sports, but I don’t really care. NCAAB season just ended. I connected on 55.2% of all wagers. I closed my account, as opposed to allow it to lie dormant, and put it where I can continue to get a return, but also ensure it is liquid, because come Novemebr I’m back in. The 4,000.00 was initially wagered at 200.00 per game, a 20-1 ratio which by the way is not large enough!..but I have enough experience with systems I run to hand play out every game for at least 7 years to see what is the worst position I will ever be in, and if I have a cushion, I’m good.
My season never ends! I now take the baseball capital and load up in April, and do the same thing. I’m diversified, I have 6 sports, I will win over 5 years, it may be baseball that carries the load, it may be football, I don’t know which, but they all have good track records.
I challenge anyone to have the discipline to do this! If you are capable of winning 53.5%, read that again, 53.5% you will be rich! Most think if you hit less than 55,56…60% you can’t make money. Do you realize why Vegas throws card counters in blackjack out who have a 1-2.5% advantage? because they will get rich!
The secret is treating this as a singular investment that doesn’t end with the Superbowl, or the World Seriers, it ends in 5 years, and reevaluate.
See in 5 years at 55% 4,000 becomes 47,000! Read that again. HOW you ask? because the 20-1 ratio of wagers I expand to 25-1 for added protection, so when the account reaches 6,000 the wager size is now 250 a game, then 300, then 400, etc. Then I spend 6 months when that sport ends collecting interest on the money, and reinvest in the next season.
I don’t care if you have 100 or 4000 or 40000 if your not doing this, you can win 55%+ and you will lose in the end!
-Mr. East (Russ)