Money Management Ten Rules

Mar 13, 2019 | Krackology

A lot of people dream to become a professional sports bettor and not to punch a clock or have a boss to answer to.  99% of them will fail.  Following these simple rules below will help you move in the right direction.

#1- Always have an allotted bankroll specifically for sports betting. This is put aside and will be used to build with.

#2- NEVER bet more than 3% of your bankroll on any one event. As an example, IF you have a $10,000 bankroll, your biggest wager should be $300. Your bet amount will increase as you bankroll grows.

#3- Do a monthly evaluation. Check your bankroll and write out your bad habits that have cost you money.

#4- Most of the bets that you make should have an edge. Compare what numbers you are getting to what the closing number is at the sharper books. If you are beating the closing number the majority of the time, then you are on the right track.

#5- Never chase or over bet losses…This is probably the #1 reason that most people fail at trying to become a professional bettor.

#6- You have to understand and be able to handle nasty losing streaks that can happen at any point in time. Streaks of Bad Beats will happen, but it all evens out.

#7- Always “line shop”. You should have as many outs/books as you can handle. There will always be a little discrepancy in the numbers at each respectable book. HALF POINTS MATTER! Always check to make sure you are getting the best # available to you at the given time.

#8- Research. 20 years ago you had to take serious time to get all the info and data you needed to cap a game. Now a days, you can get any information you need by just a few clicks of a mouse. You can never have enough good information. Thank god for the internet 🙂

#9- Be a sponge around other successful gamblers. It is not only important to observe what they do, but also what they DON’T do.  Even after 25+ years of doing this successfully, I am still learning and reach out to my old mentors from time to time to ask questions and advice.

#10- Don’t let the BS news outlets sway you or change your opinion on your work. Most of these “experts” are simply giving you what I like to call “fluff” or stuff that makes good TV. These guys couldn’t pick 50% if their lives depended on it.

I can honestly say I practice and apply all ten of these rules every day of my life – and even more-so knowing that I am working for people who put their faith in my hands.

Krackology Weight
0

Tags

Get exclusive access to Bill's sports picks in real time when you download the KrackWins app now. Available on iOS and Google Play.

No mobile device? No problem – click here to signup for an account through Paypal.

Author: Bill Krackomberger

Author: Bill Krackomberger

Professional Sports Bettor

I love to help and to teach people what I have learned the last twenty-five years as a consistently winning sports bettor.  I have been a guest on many networks, including ESPN, CNN, Fox Sports, VSIN and radio shows coast to coast as well as am featured in the new Showtime series “Action”. Download my app KrackWins to get my picks in live time. Read more about Bill Krackomberger.

Author: Bill Krackomberger

Professional Sports Bettor

I love to help and to teach people what I have learned the last twenty-five years as a consistently winning sports bettor.  I have been a guest on many networks, including ESPN, CNN, Fox Sports, VSIN and radio shows coast to coast as well as am featured in the new Showtime series “Action”.  Download my app KrackWins to get my picks in live time. Read more about Bill Krackomberger.

Free Betting Guide

Sign up to get Bill's 5 Tips for Betting on NBA delivered to your inbox

Name(Required)

Latest Lines

Featured Articles

WEEKLY RECAPS

Sports Betting Picks Weekly Recap 8.3.22

The wait is finally over and NFL is finally officially back! This year’s slate starts Thursday as the Las Vegas Raiders and Jacksonville Jaguars kick off the Hall of Fame Game in Canton, Ohio.

Free Betting Guide

Sign up to get Bill's 5 Tips for Betting on NBA delivered to your inbox

Name(Required)