I was told that good moneymanagement for betting sports is to bet a consistent dollar amount- let's say $100 a bet. And I was also told that to be profitable, you have to win about 55% of your bets (not sure at what juice but I would assume -105 to -110). With those two being said, you are suppose to make a profit- rough math would be about 5% profit from all your bets. So if you bet a total of $100k throughout the year, I would assume you would win about $50k give or take.
Here's the catch I think- not many people win over 55%.
I see this game like a card game. If you were cold should you keep betting the same amount? Sure or less. If you were hot, would you bet the same amount? Heck no- any card player would tell you if you are hot you should push it- add another 10% or so more to your original bet.
All in all, I think you should push your luck and add a few more percent to your bet (just like some players say bet 3-6% of your bank roll)- so instead of betting the usual 3%, why not bet the 5-6% until you lose then you can go all the way down to the usual 3% bet.
All in all, easy to say but tough to do. Most gamblers are bad gamblers because they are scared. They win a little and tighten up and go into protection mode to protect their winnings so they bet less when they are hot and win they are losing, they bet more out of rage to try to get their winnings back- recipe for a consistent losing player in any type of gambling if you ask me.
Oops, $5k not $50k.
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