How Much To Bet On What System?

One of the challenges that face anyone that wants to become successful with sports investing is that there is such a plethora of sports and systems to bet on. If you try to bet too many sports/systems simultaneously you can find yourself with a bankroll of zero dollars quicker than you can say “oops”!

For example, with a sports prediction system and very active community like Zcode you have such a smorgasbord of picks at your fingertips that it is easy to end up betting too much.

Picture of an empt wallet

What your wallet will look like if you bet too many systems haphazardly.

Let’s have a look at how you can avoid this.

Stick To Your Bankroll

As I say in my “7 deadly sins” course, one of the most important rules of thumb in sports betting is to risk only about 1 percent of your bankroll each time you bet. If your bankroll set aside for betting (money you can safely afford to lose) is $1000 your maximum bet, or unit size as it is often called, would be $10.

However, if you are going to be placing many bets with many different systems each and every day, it is a good idea to reduce the unit size so that you bet no more than about 1 percent of your bankroll in total.

I know this may make your bets, and thereby your winnings, in each system seem unnecessarily small, and if you are following a good system you could perhaps risk a bit more. But remember that a rather conservative approach will usually work better in the long run.

Nothing is as depressing as blowing your entire bankroll in a short matter of time and having to start over again from scratch.

About The Actual Systems, Progressions etc.

When selecting what your unit size for any given system and sport you bet on should be, it is very important to consider how profitable and time-proven the system has been in the long run. Especially with new systems I personally start out very carefully.

Just because someone has managed to make 100 units of profit in the past few weeks doesn’t necessarily mean they won’t lose all that back (and then some) over the next few weeks. Remember that, while all systems will have hot and cold streaks, you should set some type of limit on much you are prepared to lose before at least putting that particular system on hold for a while.

Another thing you need to be extra careful with is systems that involve some type of progression (A-B-C or 1x, 3x 6x etc). Depending on the odds this type of system can quickly make a single bet grow exponentially in size, so you need to take this in account with your initial unit size – can your bankroll really take going to a C-bet, while keeping all your other systems active at the same time?

Less Is More?

Last but not least, you should keep careful track of which systems are actually giving you the best return on investment. An often paraphrased saying in business is the so called 80/20 rule, or the Pareto principle as it is called.

And I have found that to often be true in the world of sports investing as well. Following just a handful of systems that produce consistent profits in the long run is much preferable to constantly jumping between many systems that can rack up impressive winning streaks occasionally, but that are highly unstable.

Always keep your mind open and be prepared to experiment, but do so cautiously – while you let your proven bread and butter systems constantly keep growing your bankroll.

 

Photo credit: -Mandie-

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