As I wrote several weeks ago, they say you really learn about someone’s character when the chips are down. And I believe just as much is revealed when things are going really well. Even measured by our strong historical performance, it has been an incredible basketball season so far for KrackWins. But you have to remember to take it in stride the same way you handle the tough runs. That means staying level-headed and disciplined.
I had a look at my Money Management Guide this past week. I would advise everyone to do the same. A few key points in particular stood out:
#1- Always have an allotted bankroll specifically for sports betting. This amount is put aside and used to build with. It always should be right sized for your personal financial situation. Never mingle bankroll money with funds used for other purposes.
#2- NEVER bet more than 3% of your bankroll on any one event.
#3- Do a monthly evaluation. Check your bankroll and write out your bad habits that have cost you money.
#4 – Never chase or over bet losses. It is the #1 reason that most people fail at trying to become a winning bettor over the long term.
#5 – 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.
In these halcyon days of winning 16 weeks in a row, I should add one to this list. When things are going well, don’t over bet with your winnings. Remember, you want to remain profitable over the long haul, so just like you don’t chase losses, don’t make bigger bets because your bankroll has swelled. That’s a sure-fire way to erase everything you’ve worked for to that point. Your bet size increase should be linked directly to units / percentage of bankroll. Never more than that.
For example, let’s say your bankroll has grown from $10,000 to $20,000 from winning. You are betting a basketball game that warrants a unit size of 1%. Instead of a $100 wager when your bankroll was at $10,000, your new wager size will be $200. Your risk-reward balance is properly adjusted and you are not chasing winning in an overly aggressive or emotional manner.
Now let’s dive into my sports betting picks recap from this past week.
Sports Betting News and Picks Recap
As for this past week, Green Bay’s coaching staff vomited all over themselves for 4 quarters, making our rare NFL side a loser. Fortunately, it was one of the very few blemishes on another amazing week. NFL went 3-6 (-3.7 units), PGA kicked off the year going 1-1 and NHL 0-1 (-1.25 units).
The NBA continued to shine going 4-1-1 (+5.1 units) and college basketball blew the doors off, going 12-4 (+14.6 units). Our CBB mark now sits at scorching 66% for the year. Overall, we had another excellent week at 20-13-1 (+14.6 units).
As always, I am super excited as we head into Super Bowl week. As KrackWins Nation knows, NFL props have been extremely profitable this year and the Super Bowl is a prop better’s dream. There will be literally hundreds of props to choose from and you can be sure we will hunt out the very best for you. More to come on the big game in next week’s recap. So for now, be humble, stay the course, and let the good times continue to roll.