Proline Money Management
When it comes down to Proline or any other Online Sportsbook betting method one of the most important strategies to follow is Money Management. To become a profitable sports bettor it is crucial to completely understand how money management works to have long-term success.
Bodog is adding $250 to first time users bankrolls
Sign up now!
The Proline Predictions team in 2014 had a 59% winning record when combining all of the various sports bet on. During the 2014 sports betting season the team earned a nice profit strictly by following our Money Management system. As experts in the field we know that it is very difficult to profit long term during a sports season and the Proline team is here to share their tips on how to achieve this even during the cold streaks (Everyone has them).
When managing personal finances it’s important to set aside an amount of money that can be used for sports betting. The money set aside is considered a bettor’s bankroll balance. The bankroll is money that a bettor can afford to lose if their wagers do not work out. Over the course of the year it is important to record the wagers that have been made allowing a bettor to keep an up to date bankroll. Having a proper bankroll will allow the bettor to focus on the games ahead and not stress about losing money needed to pay bills.
Just like every goal in life, it is important to keep focused to achieve success. Emotions play a huge impact on sports betting, to become successful, bettors must control these emotions. The end goal is to profit over a season (long term), every bettor will have their hot and cold streaks but it is important to stay consistent to survive them. When placing your bets makes sure you are clear minded before making any wagers official. Being clear minded means to be focused and not angry, emotional or under any influences that could alter your original game plan.
Money Management System
The Money Management system is important to stick with everyday during a season when placing bets. When it comes down to it sports betting is about consistency; risk the same amount of money on every wager placed. Many bettors lose focus over time forgetting that the odds of winning are the same before each event. Many people will lose focus and bet ridiculous amounts because either they are on a hot streak (forgetting that they can lose), or on a cold streak thinking they are due for a win.
When a bettor has determined their bankroll the next step is to select their unit size. A unit size is a percentage of the bankroll a bettor is willing to wager. When making this decision we recommend a size of 1-2%, with very few successful bettors playing around 5% as a size. Located below is an example to help explain the Money Management System.
Johnny has a bankroll of $1000 to start off the NHL season and wishes to bet 1 unit per game, and 2 units on the games he feels strongly for. On an average NHL wager Johnny would then be betting $10 (1 units) on each game. The games Johnny feels more confident he will wager $20 (2 units) of his bankroll.
The units and bankroll have been determined but are only necessary as long as the bettor sticks to the system. At points you will feel like nothing can stop you from winning but this is when a bettor will get in trouble. Some bettors will go on “tilt” meaning they will lose a wager, but then will raise their bet next time to try and make up for the previous wager resulting in an empty bankroll. By keeping this system the cold streaks will barely affect the long-term profit.
As we noted at the start the Proline Predictions team went 59% in 2014 earning a nice profit on the year. This doesn’t mean that every week we went 59%, in fact there were times where we would go 2 for 12, and other times when we would have a perfect night 10/10. But what allowed the team to profit in the end was by sticking to the money management system installed to keep the bankroll alive. This allowed the team to enjoy the hot streaks and profit in the long run over a course of a season. After the Money Management System is understood check out our Free Proline Picks that we offer over at the blog.