In my opinion the importance of good money management while betting is THE most important factor to becoming a long term winner. Picking winners is great, but no one wins all of the time, no matter how good they are.
So what do I mean by money management? Well, to me money management is the art of keeping your losses to a minimum so that you bank is never affected too much by a single day of losses. Not only that but it is making sure, as best you can, that your bank grows over time. Bank growth is where the issue appears for most people.
Lets take a very common example…
Spanish Grand Prix Betfair Trading
My initial trading bets with Rosburg and Glock didn’t really pay off, but after tracking the practice and qualifying it was clear that Rubens was going to be good in the early stages of the race. I backed him just before the race started and layed him after the first lap.
I placed bets on each of the drivers during the race, but couldn’t get that much on Button as he was always looking good and the odds were always low. I took a screen shot towards the end of the race as seen above. As you can see, no matter who wins the race at this point a profit will be made.
Trading on betting exchanges can be great if you think you can predict the flow of a race or game.
Note: Never bet with any money that you are not prepared to lose. This system is a high turn over system with the aim of long term profits; it is not designed to be used for single selections. Always form your own opinion when betting and do not blindly follow tips.
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