Sports Betting Survival Kit 2 – Bank Management
A survival kit for whatever purpose it was created cannot consist of just one item. In our first article I discussed the most important item for your survival in sports betting: Emotional Control. In scenery of survival, the emotional control could be compared to potable water without which you can’t survive. But you will need other items to complete your conservation strategy.
You must already be imagining, or read the article title, what comes now. Yes, it can be obvious in theory but I keep getting surprised how this isn’t so obvious in the daily practices of online bettors:
The sung in verse and prose Bank Management! Don’t give up reading, this will no longer be a textbook trying to force you to do something that nobody wants to do.
Who follows the reality of betting groups and forums present on the internet or in social networks gets haunted by the quantity of reports, as a rule of regret or desperate, of bettors that exaggerated the dose when placing their bet, and, when anything goes wrong, with money involved, nervousness and the despair start to beat.
But you may question what basis I used to state that someone exaggerated or not in the dose. What is that reasonable dose and how to calculate if I am betting more than I should?
The “dose” advents from the concept of banking. Bank is all the money that you directed to the bets in a determined period. It is no use depositing 50 reais and losing everything saying that your bankroll was that if you are willing to make 10 more deposits of that value.
Be honest with yourself (that is another behavior you should always adopt in betting, you don’t need to be honest with others, with them you can boast of winning bets and forget the lost ones, but with you, in your heart, always be honest and sincere).
Define your bank, your real bank. Doesn’t matter what size it is, and not if you are, like most of us, a recreational bettor. Defining your real bank will be fundamental for you to price your exposure in line with your desire for exposure to risk. And not staying in all in cycles with smaller deposits.
A second point is the necessity of abstracting the real value, I mean the monetary value, of your bank. Think of it, and so you need to be honest, like everything you own. In your real life do you bet everything you got in just one business? Make your investments in just one modality? Using the common example, do you put all your eggs in the same basket, risking breaking them all in a single fall? Of course not. You divide and diversify.
The secret of everything is diversification so that if you go wrong on one side, you have others available for compensation. But if this is so true to our real life why the hell when we bet we sank into all ins or strategies with no bank management?
Risking much more than we should in terrible bets? Why are we irresponsible in sports betting? Ah, but I’m starting, ah, but I’m a recreational bettor, ah, ah, ah. None of these arguments justifies the fact that you behave like a crazy horse when betting.
Whatever it is your style when betting, even for fun, you are here to win some money right? I don’t believe that making money donations to big bookmakers is your objective. And any objective to win money when betting passes through banking management.
And what is the secret of fractionation / diversification in betting: Bank Management. In a practical approach your bank management means splitting the total you have allocated to place your sports bets in small percentage pieces of the total (fractionate).
For example, I have a bank of X, create units with the value of 5% of this X and apply a methodology of allocation of these units respecting the principle of diversification. Some bettors use 1 to 10 units, others 1 to 3, in short, the important thing is that there is an associated strategy of diversification and fragmentation of your investment.
And why this? Because a word that must always be associated with bank management is RISK, managing your bank is to manage the exposure to risk that you desire, NEVER should you expose all your money to a single risk.
Each piece of your bank bet is a piece exposed to the chances of winning or losing. The bank management dilutes the risk to which you are constantly exposed when betting online. I will not extend myself on what formulas or types of management we have available because the style of each bettor can adapt better to different situations. The rule is to never go over 10% exposure in your units.
I’m already hearing arguments from here like: Ah, with bank management I don’t win money so fast? You really don’t, but you also don’t lose. Bank management will make your useful life in sports betting longer. It will make you survive (remember this is a survival kit) even in adverse situations like negative sequences and lost bets and will allow a safe growing.
Ah, but my bank is small. This is the worst argument I can hear. Bank size doesn’t indicate the bettor quality. Method and organization has nothing to do with bank volume. Whoever told you that betting would be a fast way to make money fooled you! Or worse, who said that in sports betting you will be able to transform little money in a lot of money and quickly?
I repeat: Winning money with bets is possible! But it isn’t fast, or easy! The rule you need to keep in mind is always to use bank fragmentation and diversification no matter if it is big or small.
But is it enough to have emotional control and bank management to survive in sports betting? No. But without a doubt they are the two most important factors. In the next articles we are going to discuss other elements of our Sports Betting Survival Kit. Don’t miss it!