Gambling Money Management
First and foremost, we at PickPatrol.com
INSIST you bet with your head,
and not over
it. Please take this advice whole-heartedly.
Gambling is a hobby and a recreational
passtime,
not an investment. Please refer
to Gamblers
Anonymous if you feel you have
gambling problem.
That said, please follow the
below information
when using our service.
Allocation is of utmost importance
when gambling.
PickPatrol will never tell you
an amount
to wager on each pick, as we
have no knowledge
of your financial obligations.
This is a
decision best left to each individual
gambler
as they take into consideration
their overall
money allocated to the recreational
sport
of sports gambling. Our goal
is to discuss
percentage allocation in respect
to each
wager.
Here is an example:
Let’s pretend you set aside $10,000
to wager
for football season. Let’s also
pretend you
wish to wager 10% of your bankroll
on each
wager. Therefore, you would wager
$1,000
on your first wager. Assuming
you win, your
bankroll is now $11,000. If you
continue
down this path of wagering, your
next wager,
(following the 10% method) will
be for $1,100.
(Of course, the figures will
never be exact
as in many sports, the juice
charged can
vary.) However, you can round
off to get
close to your 10% (or other nominal)
figure
for each play. Following the
same model,
if your first play loses, your
bankroll will
be $8,900, assuming the play
had a 10% juice.
In that scenario, your next play
would be
$890 following the 10% model.
With this model,
you increase your profit potential
when you
are winning, and cut your losses
when the
inevitable cold streak comes.
Face it, nobody
is perfect. Whether you sign
up with PickPatrol,
another service, or just pick
on your own
based on your own information
and feelings,
you will not be on the right
side of the
games 100% of the time. It’s
just not possible.
Mitigating your risk when you
go cold is
the smart money management move.
“Chasing,”
when you are losing, is NOT a
smart money
management move. Please keep
this in mind
when making your selections.
The above model is called “Fixed
Fractional
gambling.” The advantage of this
model is
is the principle of convexity.
Convexity
is betting more money on the
way up while
betting less on the way down.
This allows
you to maximize profits along
with keeping
you in the game longer when you
hit the inevitable
cold streak. It is NOT advised
to bet your
entire bankroll on ONE SINGLE
game…..no matter
who, what, or where you got your
information.
It’s poor money management and
will not help
you in your quest to make money.
From time to time we release
“games of the
week” or “games of the year.”
In these situations,
we recommend, at your discretion,
to up your
wager to 20 - 25 of your bankroll.
If you have any questions about
money management
and gambling, feel free to email
the PickPatrol.
Best of luck!!!!
PickPatrol Team
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