Sports Investing Philosophy 101...

Great info for new gamblers and old!!  Gambling is an addiction and very dangerous, smart people stay away.

Great thread smack ... Couldn't have said it "all" better myself ...

You might also like to inform the "new punter" that ...

Even after you think you got it all figured out ... You think you have perfectly capped player against player ... coach against coach ... team against team ... playing in good weather ... playing in bad weather ... home court / field v's away court / field ... playing on grass v's playing on synthetic ... which refs will be officiating and the teams that play better when certain refs are officiating ... if the moon is in the right place ... etc ... etc ... etc ...

You then need the players to perform to the level you capped them at ... You then need the right calls to be made ... You then need the balls to be caught ... You then need kicks to be made ... You then need there to be very few turn overs ... You then need there to be no injuries ... AND ... If all this happens, be glad that your bet was a winner ...

Basically saying that nothing, and I mean, nothing in this "world of gambling" is a certainty ... So tread warily, have fun, and remember not to drown ...  

Didn't mean to imply that you were copying anyone but that if you want to really delve deeply into managing a bankroll, Huey Mahl was the originator of that idea and his writings are worth reading despite their age.  The percentage of bankroll system takes the emotion out of your betting, meaning when you are losing bettors tend to double up and when winning, they often will want to cut back being afraid that their luck is going to change.  The system controls that for you, even to the point where if your bankroll increases or decreases a certain percentage, you declare a stop-loss, if on a cold streak or you take down profits, if on a hot streak. I think that if you are inclined to believe in a money management system, you will at least find his writings interesting.

And you are right, you have to look at a season in the Long Run.  You'll have losing days, losing weeks, losing months or vice versa. But your goal is to manage your money well enough to hopefully show a profit in the long run.

Having said all that, honing your handicapping skills and LUCK will always play a part.

But as all realistic bettors know, they don't call it gambling for nothin'!!!!