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Money Management by John Wise Many factors must be considered. First should be how much can one afford to risk. If losses can affect your life style or cause undue stress, then you are risking too much. I prefer to look at plays as risking "units" or "numbers", anything but dollars. Once you have arrived at a figure that you are comfortable in risking, what size do you make the wagers? Let's assume that the initial amount is 2000. A good rule of thumb is to make any one play no bigger than 5% of the amount available. In this case, 100 is the max. I refigure my bet size at every opportunity. If I have made a profit, then my bet size can increase. If I have lost, the bet size goes down. After reaching a certain profit, collect and start over. This method tends to keep the transfer of funds to the sportsbook on the down side. Another consideration in amount wagered is expenses. Are you paying for a service? If you are paying 300 per month for a service, then that is an expense. If you can play at the same advantage the books operate at( a 5% return), you need to make a total of 6000 in bets for the month to expect a 300 return. This will pay for the service. Keep in mind that playing at a 5% return is not easy. Another factor is time. How much time do you spend? How much is your time worth to you? I have always had my best success when I have a plan and stick to it. A little discipline can go a long way. |
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