The Hidden Secret Behind Sports Betting Success!

Why Money Management is so important

To consistently make profits over a long period of time in sports betting, you must not only make the right bets, but you also have to use your bankroll and keep control of your emotions. There is a tendency for people to ride a winning streak too hard and bet too much hoping to hit a super big payday. I have done it many times before I learned proper bankroll management.

Also, there is a tendency for gamblers to bet wildly amidst a losing streak to attempt to make a one bet comeback. This has spelled the death of many sports bettors that would have otherwise been on the path to profits. Improper money management can turn wins into losses and moderate losses into nightmares.

Both winning and losing streaks are a very real part of gambling. It is how you deal with these ups and downs that will determine just how well you’ll do at the end of the day.

That is precisely why money management is so critically important. When you are on a winning streak, you have to stretch those winnings to the maximum, but still safe level and make sure that you are a winner. And when things go the other direction, you must restrict losses to affordable amounts.

Money management takes a lot of discipline and for some people it probably takes some of the fun out of it too. But those are the people that must get a kick out of giving a lot of money to the sports books. Sports

Betting is very similar to investing in stocks or other financials in the way that money management can make or break the investor.

Progressive Sports Betting System

In the world of sports betting as well as other gambling endeavors, the key to long-term success is enshrined in good bankroll management. While there exist more than a few methods out there that could prove worthwhile, the most fundamentally sound strategy that should be prioritize is progressive betting.

What is progressive betting? Progressive betting is basically when you stick to a set amount for each bet depending on the size of your bankroll, then increasing the amount of money per bet as your profit grows from the starting point. Identical methods are being used alongside many instructional orders on other gambling-like games like craps, blackjack. The recommendation usually varies wildly depending on the author but I personally advocate a more conservative stance than the majority of these authors simply because they tend to endorse a too risky and unsafe strategy once you’ve managed to grow your bankroll.

When betting on sports, discipline does not come easy to implement for a sports bettor. It is a skill that must be conquered for you to have long-term success in sports betting, as long as you took the time and effort to establish handicapping insight that has demonstrated a consistent winning record.

Let me give you an example that utilizes an effective conservative approach while at the same time, allows you to keep good discipline. Keep in mind that when gambling, a certain amount of swings will always be involved, therefore, it is crucial to be able to withstand losing streaks that could erase any profit you previously made alongside your initial bankroll money you started with.

Let’s say you begin with a bankroll of $2,000 in which you could have probably deposit that money in a reputable online sports-book or keep this money set aside for your sports betting future activity. In that case, the recommended unit size should be $44 to win $40 for each game which amount to about 2% of your bankroll in play. More than a few experts would proceed in suggesting you to risk 4 or 5 percent but the risk with a higher figure will be the limitation of your flexibility should you hit a prolonged losing streak. It may eventually take time to build up your bankroll, but you should always remember that sports betting is more like running a marathon, not a print.

With everything stated above, let us say that you’re averaging 1 bet per day for a full year, and ended up with a very respectable overall record of 210 wins and 150 loses. After taking into account house juice for each bet, you are left ahead with about 50 units or an additional $2,000 on top of your initial investment. With that conclusion, your initial bankroll of $2,000 would have been doubled in a span of a year to $4,000.

Now that your bankroll is standing at $4,000, you could ante up your bet to $88 from the previous initial bet size of $44. So you will basically retain the same 2% of your bankroll put into play but you will now be yielding twice the amount of profit that you started with. Logic should take hold with the fact that since you were able to double your starting bankroll of $2000, you would have probably achieved a proven track record as for your betting performance, thus allowing you to risk even more of your bankroll.

With everything being said, you still do not want to go crazy here and put all your profit at risk by increasing your bet size too much. Instead of going big, a conservative unit size bump of about 3% would yield a much better win percentage while still having some type of protection against cold streaks to fall back on. In this case, you may start entering bets of $120 to win $110 for each game which is just about 3 percent of your precious bankroll.

If you decide to use the 3% method, all you’ll need to do is clear about 17 units to make your next $2,000 as opposed to the 50 units that would have been necessary to profit the same amount when you started.

As soon as you get more comfortable with this skill set and start seeing consistent positive results, the next step could be to start rating the quality of your picks and then incorporate it into a big strategy that could improve your betting system.

Let me give you another example to clarify things further. Let’s say your standard unit size is $44 per bet but on certain occasion, you feel more confident about certain games. In this case, you can announce that your confidence level for this particular game is so high that you will bet “2 units” instead of the original and standard “1 unit.” That should mean your wager would have to increase from $44 to $88 because it is now a 2 unit play. It is of course important to keep record of your larger unit size so that you know whether it is worth increasing your betting size. Unless you can demonstrate a winning rate of about 65% on those high confidence 2 unit size bet, it would not be worth going through with it. At this point, it would be best to keep it simple and fully go back to the original 1 unit size bet for all bets.

So remember, you should not force yourself to increase the size of your bet if the amount of money that would be needed makes you uncomfortable. Keep a performance track record so you know whether to discontinue certain part of your betting strategy. You will surely gain more experience and confidence as you go and this will allow you to be able to analyze your situation and make the needed fix when it requires it.

In the meantime, the best strategy that I would recommend to someone who is just getting started is to keep their wager at a consistent unit size, specially if it is showing a winning rate. There is simply no need to over complicate things too soon and risk losing it all because you got too greedy.

Gaining and Keeping a Competitive Edge on Sport Betting

When it comes to sport betting, each player must be aware about the nonexistence of a certain kind of formula for winning. Unless the player chooses to involve in trickery, then there is really no given method to secure winnings. However, there is a way for every bettor to gain an advantage in this field. Although sport betting (by its very nature) is very reliant on chances, players can actually increase their chances of winning by getting a full grasp on the unfamiliar (or even unspoken) yet altogether important law in sports betting.

Instead of looking for that magic winning formula, it’s best for every bettor to keep in touch with reality and get ahead by knowing how the entire sport betting system works. Since there are only a limited number of people who know about this particular sport betting law, players who’ll take the time to understand this will definitely have an edge among the others.

Just in case you’re one of those bettors who want to gain an edge over other sports bettors, here’s what you need to know:

Sport betting (or even gambling in general) operates under a certain type of principle. However, this law simply operates in order to guarantee all casinos or any betting establishment to profit regardless of whether its players win or lose.

So how does this so called gambling law works in particular? Simple. The person in charge of coming up with the rules and odds of the game basically controls the outcome, and makes the money. However, it doesn’t necessarily have to be that way. Players can use their knowledge of this law to their advantage.

To get ahead of the game, bettors can seize control of the rules and odds by simply keeping track of the perfect timing to place a bet. Players increase their chances of winning by choosing to bet on the right situations and employing only the right wagering strategy. That’s basically all the player needs to do in order to get an edge over other players and the game books itself.

Where I Play Blackjack in Las Vegas, NV and Why

Blackjack routinely offers the lowest house advantage over players as compared to all other casino games off the top. Players can enhance that inherent gambling advantage further by applying very accurate basic strategy play and insistence on playing only those games that offer player-favorable rules. There’s a plethora of variation between game rule-sets and table conditions and these directly affect the mathematical player expected value (EV) which ultimately translates to enhanced winnings / minimized losses over time. Proper game selection can easily reduce house advantage to.5% or less for the conscientious player who employs accurate basic strategy decision plays for a specific game and set of rules. Blackjack also provides one of the best venues to accrue comps for gamblers interested in playing the comp game; wise use of certain comp accrual tactics can increase real dollar value expectation and provide a means to keep losses to a minimum when including the values of potential awarded comps.

It’s impossible to overemphasize the importance of learning basic strategy for those interested in enhancing the value of their blackjack experiences. It’s the foundation of all efforts to beat the game for both novice and professional players. Basic strategy play is based on literally billions of computer simulated hands to arrive at proper hand play decisions regarding standing, hitting, doubling, and /or splitting pairs against a given dealer’s upcard. Those players who might be interested in becoming serious students or professional blackjack players will learn that further advancement in learning advantage play methods (eg card counting) is pointless without a solidly grasped knowledge of basic strategy. Memorization of specific basic strategy play is not difficult, especially for those who are interested in increasing their expectation at the blackjack table. As a new player in the process of learning these systems, basic strategy charts (specific for specific games and rule-sets) are available in countless books and on the internet; these are also available at most casino gift shops and or player’s clubs in Vegas. Using these at a live Vegas blackjack table is perfectly acceptable and common and is encouraged for novice players. With minimal time and effort at using and memorizing these basic strategy hand decision play charts, proper play will become second nature. Remember that there are some variations in given basic strategy play depending on the number of decks in play and the specific rules in force at a given table. There’s also a “generic” basic strategy chart that is utilized to cover all games and rules; this version is not as accurate as specific charts for specific games and conditions but is far superior to those proverbial “gut” play decisions. Keep in mind that use of perfect basic strategy play will not put players in a position to have an advantage over the house; the casinos will still have an edge over players in virtually all games except a few 3:2 payoff single deck games (which are beyond scarce in Vegas these days).

What are the blackjack rule sets / table conditions that enhance player expectation? I routinely play 6-deck (6D) shoe games that don’t utilize continuous shuffle machines (CSM’s) with $5 – $25 dollar minimum bet conditions. Keep in mind that games with higher minimums ( $25 and up) MIGHT have comparatively better rule sets for players than lower minimum tables; players should scope the better games out at all denomination minimums. The minimum rule sets / conditions (ultimately rendering a house edge between.25 and.42% off the top in 6D games and involving accurate basic strategy play) that I seek out in Vegas include..

Base games = 6D shoe games, $5 – $25 minimums, 1 – 12 bet spread variation (x minimums), 75% penetration, no CSM’s; 2D pitch games, $5 – $25 minimums, 1 – 6 bet spread, 60 – 65 % penetration.

Rules Lowering House Advantage / Increasing Player Expectation (EV) :

– Insist on 3 : 2 payoffs on naturals (blackjacks); adds + 2.5% EV; players cripple their blackjack expectation off the bat if they play tables with either 6 : 5 (there are tons of these in Vegas now, particularly 1D games) or even money payouts on naturals. One of the single biggest errors unknowing, average players make is electing to play these games if they’re concerned about value.

– DAS ( doubling bets allowed after pair splits ); adds + 0.14% to player expectation. There are plenty of games offering this rule in Las Vegas.

– S17 (dealer stands on all soft seventeen hands, eg A, 6 etc.); adds + 0.20% EV vs H17 games (dealer hits all soft seventeens); there are a few Vegas casinos who offer this rule, though most games are H17.

– LS (late surrender offered; allows player to surrender hand and half their original bet with certain 2-card totals against specific dealer upcards AFTER dealer checks for blackjack ); adds + 0.075 % EV. There are a very limited number of games in Vegas that offer this rule, but they’re locatable. Often this particular rule is not posted at tables so ask when you approach for play.

I don’t play 6D blackjack games in Las Vegas unless it offers all the above rules unless there is a specific set of other rules or promotions that drives the house edge down. Obviously, the above games are few and far between and you may consider this an anal approach…I just adhere to this axiom ( you don’t have to ). I agree that blackjack should be an enjoyable, “fun” experience; it’s simply neither of those for me if the house advantage off the top is insurmountable over time. I have found the above 6D rules / games with some consistency at the following Vegas casinos ( keep in mind that you may have to play $15 – $25 dollar minimums to collectively locate the above rules at a given table; additionally some of the properties may require these minimum bet levels for players to even get rated for table game comps, which can potentially add significant real dollar value to player expectation / EV) :

– MANDALAY BAY (Strip)

– MGM GRAND (Strip)

– MONTE CARLO (Strip)

– TREASURE ISLAND (Strip)

– TROPICANA (Strip)

– RED ROCK (Off-strip)

Notice there are no Harrah’s properties on the above list. Be aware that there are changes to blackjack game rules with some regularity which requires players to seek out current info just prior to a trip and then scout and confirm derived information upon arrival. Excellent sources (modest subscription fee required) for blackjack game conditions in Vegas (and elsewhere) is Current Blackjack News (CBJN) or Trackjack. Be advised that the above 6D games are typically easier to find and play during the day on weekdays than on more crowded weekends. When conditions are more crowded for any reason, the better games are more difficult to find and obviously more difficult to find a seat at. Further, the casinos traditionally increase table minimum bet levels as demand increases and on evening shifts.

There are other additive rules ( in addition to and including S17,DAS, and LS rules) that some casinos offer that reduces their advantage and increases EV;

-RSA (resplitting of aces after initial split ); adds + 0.06 % EV; variations are RSA3 (resplit only once to make three hands) and/or RSA4 (split twice to make 4 hands total). The designation UR refers to unlimited resplits.

-D3 (player allowed to double down on first three cards ); adds + 0.23% EV.

Casinos that have recently offered S17, DAS, RSA, and LS (all at $25 dollar minimums or less) and house edge of.26% include;

– MANDALAY BAY (Strip)

– MGM GRAND (Strip)

– MIRAGE (Strip)

– MONTE CARLO (Strip)

– RED ROCK (Off-strip)

– TREASURE ISLAND (Strip)

– WYNN (Strip)

Two “sister” off-strip casinos that offer H17, DAS, D3, LS, RSA3, and UR with initial house edges of.25% are;

-BIGHORN*

-LONGHORN*

* Note that the current rules at the above two locales involve H17 (dealer hits soft seventeen); the cumulative advantage gained by including RSA3, D3, and UR more than offsets the H17 disadvantage (vs S17) to arrive at a playable house edge with accurate basic strategy play. It should be noted that the above two off – strip casinos offer exceedingly minimal glitz and glamour (like..zero) but they do offer decent blackjack rules and very low minimums. I like them both even though I realize Bruce Willis or Britney Spears won’t be there.

Other rules that can enhance player expectation but are seldom (if ever) found in Vegas casinos are;

– DSA (doubling after ace splits); adds + 0.10% EV

– 21S (suited blackjack pays 2:1 ); adds + 0.56% EV

– BJ2:1 (all naturals pay 2:1 ); adds + 2.28% EV

– 6 (player’s unbusted 6-card hand; automatic winner even against dealer blackjack); adds + 0.10%

– ES (early surrender allowed; allows player to surrender hand and half of original bet BEFORE dealer checks for their potential blackjack ); adds +0.63% EV; this rule hasn’t been offered for several years, beyond rare.

As mentioned earlier, more decks in play results in increased house advantage over players. Single – deck (1D) games in Vegas with reasonable rules and 3 : 2 payoffs are extremely rare these days and essentially nonexistent on the strip. In times past, a player could play even or have a slight edge over the house in 1D games with 3:2 payoffs, reasonable rules, and application of basic strategy. In Las Vegas presently, most 1D games offer 6 :5 payouts on naturals; you might as well ride up the Eiffel Tower at the Paris Hotel and toss cash off the observation deck. My most current info indicates there are 4 downtown (on Fremont street) casinos that offer single deck games with 3 : 2 payoffs;

– EL CORTEZ

– BINION’S

– FOUR QUEENS

– WESTERN

The 1D games at the above downtown locations are all H17 but due to use of single decks ( though they usually only deal out about a half deck before reshuffling) the house edge for all these games is 0.18% and thus playable for a basic strategy player. As a sidenote, if any players employ any type of advantage play techniques (eg card counting, etc.) the pit and eye-in-the-sky surveillance crews may ask them to leave at these games (or any game, anywhere if they’re not adept at camouflage / disguising play). Just be aware. The El Cortez has been referred to as The Sweaty Spaniard for years and there’s a reason why.

There are some playable two-deck (2D) games in Vegas; simply playing a 2D game vs 6D adds.25% EV off the top. Theoretically a player can sacrifice some other rules as a tradeoff to arrive at a reasonable / playable house advantage range. A 2D game with base rules of S17 and DAS only provides a house edge of.19%; two strip locales where these games have been offered recently are;

-MIRAGE*

-LUXOR*

*both have $25 minimums

Recently the following off-strip casinos offer 2D, H17,DAS, and RSA games for $2 -$10 minimums and a house edge of.35%;

– ARIZONA CHARLIE’S BOULDER

– STATION CASINOS (BOULDER,TEXAS, SANTA FE, PALACE, AND SUNSET STATIONS)

– GREEN VALLEY RANCH

– RED ROCK

– SILVER NUGGET

– WILD, WILD WEST

Player expectation from blackjack play can be enhanced by taking advantage of short-term promotional games / buy-in incentives, blackjack matchplay or free ace coupon plays, and by employing comp accrual tactics. Info regarding blackjack promotions may be found in casino newsletters / mailers for players club members or on Las Vegas gambling info websites. Some occasional short-term blackjack promotions include 2:1 payoffs for naturals, payoffs on tied blackjacks (vs dealers; normally a push), increased payoffs for suited blackjacks (usually 2 :1 or 3 : 1 payoffs) or specific card combinations for player 21’s (eg 7-7-7 or 6-7-8). Blackjack matchplay coupons (usually 5,10,or 25$ denominations) are historically worthwhile to low-midlevel gamblers and usually valued at approximately 50% of face value for basic strategy players. Free ace coupons are also a valuable coupon to collect and use; player’s club ‘funbooks’ are available at many casinos and can reduce expenses (and thus add to EV ) if players put these to use. These coupon and funbook sources can significantly enhance EV particularly for low- moderate level gamblers. Contact me for some info regarding coupon / funbook sources if interested. Additionally, accruing comps at blackjack can at times mean the difference between winning vs losing sessions or trips depending on bankroll and wager levels. Signing up for player’s clubs and casino e-mail website subscriptions is a must for being able to obtain awarded comps. Specific tactics to employ at the tables include enhanced initial buy-ins (buying in for more than you intend to lose or gamble with), increased wagers when pit crews or floor people are watching / recording your gambling levels during actual play, and any number of methods that slow down the speed of the game and thus the number of hands / wagers per hour. Additionally, it’s suggested that players develop a relationship with a specific table host at specific casinos where they choose to play; often it’s good to select a host of the opposite gender in my opinion. At some casinos (usually not at Harrah’s properties), floor reps and pit bosses can award meal comps for table play. Developing a friendly, “ask-for” relationship with blackjack pit personnel and previously mentioned hosts can go a long way toward enhancing real-dollar value of player expectation when playing. Some of these casino staff members are people, too.

Any discussion of blackjack should at least address bankroll management elements. Play with money that won’t affect your daily life if you lose it. Staying too long at any table to recoup losses is both common and foolhardy. I seldom stay at a given table beyond 1 hour for several reasons; this time is extended only when experiencing a particularly good winning session or other important factors. There is a plethora of info regarding what’s known as Risk of Ruin (ROR) charts which outline betting ramps and bet levels with a defined starting bankroll. Some of these aspects are quite detailed and are usually restricted to use by serious, professional players. If players are interested in becoming a serious student of the game, there’s a massive amount of pertinent info on the web and within the pages of many books. Avail yourself of this info and over time you will be able to discern the credible info sources (there’s some misleading and inaccurate info out there, of course). For those interested, contact me and I’ll provide a decent info starter list.

The present economic downturn Las Vegas is enduring has resulted in a general trend of lower table minimums to a noticeable degree in several casinos. We could speculate that, in order to attract more patronage, the gaming entities might offer more short-term promotional games with player – favorable rule sets in addition to these observed lower table minimums. We’ll see.

Cheers..

Charles Higgins