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Money Management for Betting on Baseball Games
We used to almost always focus on betting underdogs and very small favorites. Avoiding the large favorites were important for us because we were betting large amounts of money on these games and risking -200 juice just was not an option.
But there are favorites that really are worth betting on and avoiding them is throwing away money. One option was to have one method of betting favorites and another for betting underdogs but we felt that would be confusing to the majority of our website visitors. It is confusing because you don't see any other betting establishment doing that!
So our next option was to use a percentage scheme where we bet a certain percentage of our bankroll on a game. Doing it this way, we limit our losses per game. So regardless of whether or not the team we bet on is a favorite or an underdog, we will risk a percentage amount of our bankroll.
We will continue to rate plays as units because that is what people understand. Other handicappers have units mean percentage of their bank account wagered on a game but because we have had gamblers following us from last year, we did not want to confuse them with a new unit ratings system.
We rate plays as 1, 1.5, 2, and 3 unit plays. The percentage of our bankroll that we will bet on these teams is shown below:
1.0 Units Plays - 3.5%
1.5 Units Plays - 4.0%
2.0 Units Plays - 4.5%
3.0 Units Plays - 5.0%
We generally start counting on April 15 (tax day). We started tracking our performance by making up a bankroll of $15,000 as we feel this is a very comfortable amount for most investors to bet. The bankroll is adjusted on a daily basis based on the results of that game's action. The percentage amounts are then taken of the new bankroll.
The beauty of our money management system is that you will never lose all of your money. As you lose, your betting amount decreases. As you win, your betting amount increases. It also allows you or any other gambler to come in at any point in the season and begin seeing profits based on a percentage of their starting account. Better than stocks!!