How to Manage Your Won Money at Gambling and Sports Betting from Busting It Up at Online Sportsbook

Have you heard stories about people hitting big jackpots, winning high staked all-in Texas Hold'Em poker or going on hot streaks in sports betting ???

Of course you have.

And what happened with most of these (short time to get large amount of money) people ???

Simple answer -- they got a complex of being unbeatable and lost all the money they got in these short time and even went busting their entire bankroll in trying to get back on hot streak.

Don't let that to EVER happen to you.

All you have to do is to follow...

RULE No.1: Maintain The Right Money Management.

1st and most important rule you have to implement is how much money are you going to maximum bet on 1 bet?

These can either represent a:

  • % of your bankroll (like 2% or 5%) or
  • it can have a fix amount (like $200 or $5000).

    • I myself bet 5% of my current bankroll and I change my stake every 2 weeks (that's 2x a month). That means that I start a year with the 1st day of NBA regular season and I bet a $1000 on a single bet. Then I change amount every 2 weeks BUT my stake is always 5%.

    Example:

    My starting bankroll is $20.000 and 5% is $1000. After 2 weeks my current bankroll is let's say $28.000 so 5% is $1400 and so I bet for the next 2 weeks $1400 on every SINGLE bet.

    But don't just read these lines here but...

    STOP READING AT THIS MOMENT and GET a decision HOW MUCH WILL YOU BET on every bet from now on !!!

    Take as many time as you want (minutes or hours I don't care) but please don't do it for my sake but DO IT FOR YOURSELF !

    Believe me you will thank me more then once in future for these step you will MAKE NOW !

    Let's continue to...

    RULE No.2: Always bet on SINGLE bets ONLY !!!

    The classic mistake an average bettor makes, is to bet on parlays.

    In any pro sports where any team can be defeated it is suicidal to bet on doubles or higher team parlays.

    Yes -- the odds are getting also higher but your chances are more rapidly falling then odds for winning this parlay is increasing.

    Fact: more teams you put in your parlays, the less chance you have to beat sportsbooks in the long run.

    You might win some parlays once in a while but in the long run you are just throwing your money away.

    And that's it.

    Stick with this simple 2 rules, obey them and you will be minimizing the risk of busting your entire bankroll in less then a week.

    The author of this article, Bruce Goldmayer - is a well known sports betting investor that also published
    an ebook Spank Your Bookie - How to Make & Save TIME and MONEY with Sports Bettting

    From his website you can also contact him about any questions you may have regarding this article or his ebook.
    You can GET a FREE Chapter or DOWNLOAD his ebook at http://www.SpankYourBookie.com

    More Resources

    Unable to open RSS Feed $XMLfilename with error HTTP ERROR: 404, exiting

    More Casino/Gambling Information:

    Related Articles

    Tips On How To Gamble
    How would you like to have your name on a check worth thousands of dollars? Actually, it's not as difficult as you may think. It requires some time and effort on your part; however, the rewards far outweigh the effort that may you put in.
    The Secret of Put Bets
    Pssst..
    Online Gambling Casinos - Wear Your Thinking Cap and Prosper
    I receive many emails each week from people who deposited money at an online casino, only to walk away empty handed merely minutes later. Most of them are quite upset andunderstandably so.
    Play Poker for Free Online
    To play poker for free online is one of the easiest and increasingly popular ways to learn the game, especially Texas No-Limit Hold'Em. Virtually all online poker rooms will let players come in at no cost because they would love to have you as a real money player in the future.
    Wisconsin Casinos, The Top Three
    I have been gambling in Wisconsin since I was 16 years old! I snuck in for two years straight. After legally gambling at the age of 18 for a few months they moved the age limit up to 21.
    Poker Aces - how to play them
    Poker Aces refers to two aces dealt pre-flop. It is the strongest possible pre-flop hand in Texas Holdem Poker.
    Las Vegas - World Series of Poker (WSOP)
    Who Will Be The Top Dog at WSOP?That is the question on everyone's mind as the 2005 World Series of Poker enters its third round with only 272 top poker players remaining.Of the over 5600 entrants who entered the esteemed Las Vegas held tournament at a buy-in of $10 000 each, most walked away with nothing as only the last 560 players qualify for cash prizes.
    Why No-Limit Poker is Better Than Limit
    If you are a tight-aggressive player, you need to consider playing No-Limit Hold 'em if you aren't already. With proper play, not only can you expect to increase your hourly win rate, but you can make it much more difficult for your opponents to draw out on you.
    Viva Las Vegas Buffets
    Please correct me if I am wrong but aren't Las Vegas Buffets just the best in the world! Ok there are a few ones that are a bit how's your father (an Australian term for so so) but I am yet to go to a buffet that I havn't enjoyed. This is probably why I have a Vegas Buffet waist line.
    Gambling On the Internet is Fun That Will Pay Off
    Gambling is something that millions of people enjoy for entertainment. However, we don't all have casinos just down the street.
    Online Poker --- Is It Safe? --- Is It for Me?
    Online Poker RoomsRapidly Growing in PopularityPlaying online poker is fast becoming the most popular form of Internet gambling. You can play Texas holdem online, and match your gambling skills against players from all over the world, playing live poker games, with real people, right on your computer.
    Why Use an Internet Sports Book to Make Wagers?
    Although I started using online sportsbooks almost ten years ago, I still maintained contact with a couple of local books for the express purpose of getting better lines with regard to the local or favorite teams of choice in my neck of the woods, the reasoning of course was so that if I saw "Value" in going against the the local or favorite teams of choice then what better place to get the best line when going against them then in their home area?However, a not so funny thing happened when one of the locals that I was using got crushed one week three years ago and skipped town and in doing so stiffed me for $1200, since that point in time I have wagered strictly online!I have always held the believe that if you want the beat deal available then it would be foolhardy to purchase the first car that you see at the first dealership that you visit, that very same line of logical thinking should be applied to "Sports investment" and of course is the very reason why I personally use four different "outs" as a means of gaining as much of an edge as possible with regard to finding the best line on games that I am wagering on, sometimes a half of a point here or a half of a point there can make all the difference in a winning week versus a break even or losing week.It never ceases to amaze me for example how some people will be totally misers with regard to insisting that any light on in a room with no one in it is a capital crime, these same individuals always seem to be the ones not willing to take the wife and kids to a movie or out to a restaurant for lunch or dinner because they may have to fork over a few dollars on something they consider unwarranted and wasteful.
    How To Choose A Reputable Online Casino
    With literally thousands of online casinos on the internet, it can sometimes become very confusing as to which ones are safe and reputable, and which casinos are not. So many of them are beautifully designed, look very professional and offer great signup bonuses, so how does one go about choosing the "reputable" online casinos while avoiding the "dodgy" ones?When choosing an online casino to play at, one should always take into consideration the following points:Licensed casino: Is the casino licensed? While many online casinos are licensed, a significant number of casinos are not.
    Basic Jacks or Better Video Poker Strategy
    Video Poker is a game of skill - and using the simple combination of playing strategy and mathematical know-how, can be beat. Take note of the "pay schedule" shown on the front of each machine, and look particularly at the most important information - how much the machine will pay out for a Full-House versus a Flush.
    Rules and Strategies for Roulette
    Roulette offers the greatest variety of possible ways you can wager. If you've never tried it, the game is easy to learn and we'll show you strategies that will help make you a winner.
    Gaming Winners
    Before you plan a trip to Las Vegas or Atlantic City or going on a cruise with legalized Gambling, certain things you must know of, and the most important one being How To Win. Gamble is all about taking a calculated risk, using your skills combined with a strategy and finally one thing that all of us want, Luck.
    The Secrets of the Inside Numbers
    The CrapshooterThe Secret of The Inside NumbersPssst..
    Bingo 101 What You Absolutely Need to Know About
    It is quite surprising and amusing at the same time that most of the people aware of the game "bingo" still associate it with some old ladies. The reality, however, suggests that the situation is quite opposite.
    How to Play Two Pairs in Draw
    The most perplexing holding in draw poker is two pairs. Playing other holdings is almost always a cut-and-dried matter compared with the problems faced by the man with two pairs.
    Playing Low Limit Shorthanded Holdem Online
    When it comes to playing shorthanded games online, one size definitely does not fit all. Certain concepts, aggression being the most important, are paramount no matter WHAT level you are playing; but the low limit games with its preponderance of loose, passive opponents mandate a slightly different style of play be used to maximize profits.