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Sports Betting Guidelines
1. Bankroll
Must start with a minimum of 20 average bets.
Starting Bankroll = 2,000.00 (100.00 will be my average bet)
2. Bet Limits
Cannot exceed 300.00 (or 3 units) in total wagers for any 1 day.
Maximum of 3 wagers on any given day.
Average Bet Amount = To win 100.00
(e.g. With a -110 line my wager would be 110.00 to win 100.00)
Minimum Bet Amount = To win 50.00 (1/2 unit)
Maximum Bet Amount = To win 200.00 (2 units)
3. Juice Limits
The maximum price allowed per bet is -150
My average price per bet must be less then -120.
4. Wager Types
95% of my wagers must be straight bets.
Any Parlays (less then 5% of total bets) must be 2 game Parlays.
No 3, 4, or 5 game sucker parlays allowed!
No Live or In-game betting, No Halftime Betting
5. Sport Types
NHL Hockey, NBA Basketball, MLB Baseball, NFL Football, and UFC.
(Personal preference)
6. Time of Wagers
All bets must be placed before the first game starts (exceptions allowed for early starts on weekends). The point of this is to stop myself from making bets on late starting games if I happen to be losing in a game that has already started. All bets must be made with a clear head (beer excluded).
7. Stop Loss (Not that crappy movie!)
If on any one day I have a total loss amount of 200.00 or more I must limit myself
to one bet the next day (with a to win 100.00 max bet amount). Why? I myself am
a very streaky bettor. I'm on fire one week and then go ice cold the next. This guideline is designed to help me bet more when I'm winning and bet less when I'm losing.
8. Separate Account for "Fun" Wagers
I set up a separate sportsbook account with 200.00 in it. I will be using this for my fun bets and parlays.This will be for entertainment purposes only. I like betting a lot of games like many people. This account will allow me to bet on most of the games but focus on the games I really like.
Expectations
I do not expect to get rich from this. I do expect to make a profit though. How much? I could invest my 2000.00 into a Government Bond @ 4% and make 80.00 in a year. No Thanks.
My goal is 4 avg bets/month = 4 x 100.00 = 400.00 month
I don't expect to make 4 bets every month but I do expect to
make 6-8 bets some months.
What percentage of my bets must I have correct to reach my goal?
This depends on how many bets I make.
Lets assume 50 bets per month with an average price of -115.
Assuming this I would need to make just under 57.25% of my
bets correctly to reach my goal.
I'm under 60% which is a realistic goal. Anyone who says they have a win percentage of 70% or more over any significant period of time with any significant number of bets is full of it.
