Wednesday, December 13th, 2017

NFL Bankroll Management

Published on September 30, 2014 by   ·   No Comments

If you are a beginner and you think that you are going to start gambling on NFL games, you have to beware of a couple of things. The first thing you need to know is that you need to do your own research and not rely on professional handicappers, the media, our anyone else for that matter. Before you get yourself in too deep, you should start out by keeping sports betting in general to a form of entertainment.

Gambling can be addictive. This is especially true when you lose. You need to bet intelligently and selectively. You need to understand that the very best handicappers only get it right no more than 65% of the time. You can have all the stats and every variable covered and you will still lose at least a third of the time.

So, if you are serious about proceeding, you need to understand how to create and manage a bankroll. Creating a bankroll isn’t too difficult. You need to find a Football Betting website, gather some information, and sign up to a couple of sportsbooks. I would limit yourself to 2 to 3 sports betting websites. Why have multiple websites? This will come into play later when I talk about line movement.

Then, by depositing money, you now have a bankroll. The amount that you bet will be specifically determined by the amount you have in your bankroll. I’m going to give you a couple of bankroll scenarios and help you with the basics of money management as it relates to football betting.

How much is in your bankroll?

How much do you want to wager per game on average? $20, $30, $50, $100 or more? Then you will need to know how much money you will need in order to bet that amount per game without busting out and depositing more money.

Let’s say that you want to bet $50 per game. This would be an average amount to bet on a game for a beginner. In order to consistently bet $50 per game, you should have between $2,000 and $3,000 in your bankroll. If you only have $1,500 or $1,000, you should limit yourself to between $20 and $30 per game.

If you plan on betting $100 per game, you are going to need at least $5,000 to withstand the eventual losing streak that will hit you. Let’s say that you are a high roller and want to bet $500 on average. Then, you will need about $25,000 in your bankroll.

Most people simply don’t understand how much money you need in order to withstand the ups and downs of a typical NFL season. Your bankroll needs to be large enough that you can bet til the season’s end without having to go back and deposit more.

Betting Limits with your Bankroll

Some people like to bet in patterns and don’t simply stick to betting one amount all the time. They go with the flow of a hot streak and progressive put more money on the line. This type of betting doesn’t usually become a problem until you start to lose. Then, if you find yourself progressively betting more to recoup the losses, it won’t be long before you go tilt and start chasing really badly to the point of busting out.

The way you need to look at betting is over the long haul. With sports betting, it’s easier to slow yourself down if you can’t control your emotions than blackjack. With blackjack, busting out can happen over the span of a couple of minutes because you lost your composure and started betting irrationally in comparison to the money that you have left. With football, your usually limited for the week if you do things correctly and stay within your means.

You have to set limits in order to keep your bankroll going. Here are 6 tips that you should follow:

1. Restructure your bankroll weekly. Determine how much you have. Determine how much you can bet per game and for the week.

2. Don’t risk more than 20 to 25 percent of your bankroll during any one week. The week starts with Thursday night and ends with Monday night. If you are going to bet on 5 games that week, limit yourself to an average of 4 percent of your bankroll per game. If you have a couple of great plays in your mind, by all means bet more on those games. However, remember that you shouldn’t exceed a certain amount wagered overall during the week.

3. Do your own research on the games for that week. The opening lines will usually come out on Tuesday for the upcoming week. Study these lines and find the 5 or 6 games that you like. This is called being a selective bettor. If you don’t know who to bet on for the Thursday or Monday night games, don’t bet on them.

4. Find underdogs that you think will win. People don’t bet the underdogs often enough and often bet the line down on the favorite. You can still bet favorites, but you should be taking the underdog about as often as you take favorites.

5. Pay attentions to the lines. The lines will move based upon the amount of money that is wagered on either side. 70% of the people could bet on the favorite and still not affect the line if a couple of large bets are placed on the underdog.

6. Make your own lines for each game before the opening lines are released. Line movement is a big part of betting on football. This is why you should have accounts on at least two online sportsbooks. The lines can be as up to 1 point different at times. More often than not, you will be looking for a half point difference or a large difference in the money line.

An example of line shopping – You may see one sportsbook offer -6.5 (-125) and another sportsbook offer -7 (-105). You have to determine whether that half point is worth 15% to 20% increase to the money line. If you would rather not risk as much money to win the same amount, you might want to take the -105.

Sometimes, it can be much easier though. If two sportsbooks have the same spread and different money lines, then it becomes an easy decision. Even if line shopping only gives you a 2% advantage over the person that bets at the same betting site, that 2% can mean the difference between breaking even and winning, or breaking even and losing.

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