I'm not going to bore you with all the complexities within money management as there are thousands of references online that go into detail of all the various aspects pertaining to this subject although it is just as, if not more; important than actually picking winners. Suffice it to say, my belief is never wager more than 3% of your total bankroll on any 1 play.
You must have a bankroll used strictly for your betting. Do not use money that could be used to pay bills, rent, etc. for betting.
Make your wager amounts proportionate to your current bankroll on every play.
You'll never see 5 star specials, locks of the month, plays of the year or any other garbage like that on this site.
My betting philosophy is bet to risk, not to win on money line prices at or over -150 and lay any price under -150. I lay the standard -110 on pointspreads or totals unless otherwise noted. Money line dogs will also be 1 unit or a $100 bet. I will make it clear if I'm recommending more units. I do this because it allows me to play higher priced money lines at much less bankroll risk. Feel free to follow your own judgment in regards to how you wish to handle your bet amounts.
Another way to track your results is ROI% (return on investment) which is a more accurate indicator and doesn't rely on units. ROI is simply dividing your total profit by the total amount you've invested. For example, say you go 5-1 on standard -110 bets for $110 per bet on a given day in the NFL. Your profit is $390 divided by a total investment of $660. $390/$660 = 59% ROI.
One more very important note is to never bet NFL double digit favorites because the league is far too competitive. You can get away with laying high spreads in just about any other sport (CFB in particular) but I guarantee you'll save yourself many losses abiding by this rule.
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