As described in our previous (partie 1), money management in sports betting is one of the first stone of the building and one that will allow you to sustain your long-term system.
There are people who are players in the soul and who view betting more as entertainment than anything else.
But there are 2 importants factors that come into consideration for all traders and punters who want to find ways to be long-term beneficiaries.
Obviously have a long-term winner system (positive expectation) will not be profitable, if a strict money management is not applied. The combination of these two items is preponderant.
We often find that there are many bettors and traders who have negative results, despite their high quality in their respective fields for the simple reason that they does not apply bankroll management and that sooner or later they go bankrupt.
If you are in the testing phase, using amounts from a few euros to upgrade your system and your potential losses will be a small investment in your research phase.
If your are confident that your system is winner in the long term, set initially starting capital that will be your tool and protect by applying just a conservative money management or slightly aggressive depending on your profile.
Why is it so important to apply a rigorous money mangement?
As everyone knows, even being the world champion of betting or trading, nobody’s safe to cross a very bad run, good money management so will allow you to get through these times without incident and no wonder about your system if you make 1 or 2 negative consecutive days, or even more. This will also help you remain calm after these bad times and keep your management on the same line. Obviously it takes a minimum of discipline.
Do not forget that the system performance can not be measured after only few bets made in a short period, but after a hundred or more months so that the results are smoothed over time.
The advice of Easysportbet:
– Set a maximum loss per bet or trade according to your management (aggressive or conservative) 1 to 5% maximum.
– Set a maximum loss per day depending on your management (aggressive or conservative) 3 to 10% maximum.
– Stop your bets following some trades or bets lost and focus on the next day.