New to sports betting, and have some questions.

[HoustonGreg]

I just started placing wagers about a month ago. I have followed sports very closely all my life and consider myself very knowledgable. I am obviously starting out with a small balance, and was just curious as to what the best strategy is, to build up my earnings?

Over the last month, I have placed all kinds of bets, teasers, parlays, straight bets, etc. Although I have had some success with parlays, (have hit on 10 team moneylines, 4-6 teams point spreads,) I have come to the conclusion that parlays are not the way to go, at least anything more than 2 teams. I hit on a 4 teamer last Saturday night, and won $100 on a $7.50 bet, but since have lost the amount b/c I bet some larger amounts on parlays.

Anyhow, I plan on depositing $100 today into my account, and plan on placing strictly straight bets for now on. What is a good amount/% to place on each game?

Thanks a lot in advance for your input, and great site!

 

[oldmanTED]

HoustonGreg

Welcome to the RX. To answer your question, since you are just beginning to wager, you should keep your wagers small until you get a feel of this business. A relatively standard rule is to not bet more then 1% of your bankroll on any one play. This way your bankroll will allow you to survive and long losing streaks. Now, since you are depositing $100, most books don't accept a $1 wager, so you should limit your wagers to $5 if your book allows. Stay away from parlays and teasers for now and just stick to straight wagering. It won't be glamorous but you have a better chance to make your $100 grow. Best of luck to you.

 

[HoustonGreg]

Thanks for the information Ted!

 

[billhill999]

Welcome to the RX. To answer your question, since you are just beginning to wager, you should keep your wagers small until you get a feel of this business. A relatively standard rule is to not bet more then 1% of your bankroll on any one play. This way your bankroll will allow you to survive and long losing streaks. Now, since you are depositing $100, most books don't accept a $1 wager, so you should limit your wagers to $5 if your book allows. Stay away from parlays and teasers for now and just stick to straight wagering. It won't be glamorous but you have a better chance to make your $100 grow. Best of luck to you.

5 Dimes will give you a dollar bet.
I suggest looking into it.

 

[oldmanTED]

Thanks for the information Ted!

You're welcome. Billhill999 made an excellent suggestion. You should seriously consider opening an account at 5Dimes. Excellent sportsbook with solid backing. Here is the link.

http://www.5dimes.com/default.asp

 

[forumnut]

Welcome to the RX. To answer your question, since you are just beginning to wager, you should keep your wagers small until you get a feel of this business. A relatively standard rule is to not bet more then 1% of your bankroll on any one play. This way your bankroll will allow you to survive and long losing streaks. Now, since you are depositing $100, most books don't accept a $1 wager, so you should limit your wagers to $5 if your book allows. Stay away from parlays and teasers for now and just stick to straight wagering. It won't be glamorous but you have a better chance to make your $100 grow. Best of luck to you.

This is KEY to surviving the long season's ,etc,etc. Please remember MONEY MANAGEMENT is the biggest factor of sports betting that will kill you. Like stated above keep all your wagers the same like $5 to start out as your bank roll will grow as I took $50 to over $2000+ in 2 1/2 months and all I have to show for it is a new tat as the wifey well you get it kinda a trade off if you know what I mean.

MONEY MANAGEMENT

I know you don't want to hear it but those two words will help you survive a long time in this business.

Welcome and Best of Luck to you.

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