|The Lounge | Champions | The Wire | Schedule | Audio | Arcade | The Top Ten | Historical | Email | Video|
Baseball is Back!
What are your goals for this season?
In another week the boys of summer will be back in action for another season of Major League Baseball. During the start of each sports season I like to evaluate how things went the previous season, and set my goals for the upcoming season. Regardless if you are a professional handicapper/gambler or just a casual bettor it is important to take some time to evaluate past performances and set realistic goals.
In sports betting the goal is to make money, period. So the first question that you should ask yourself is how much money would you like to make this baseball season? From that number you can then determine how much of a bankroll you should start with for the season, how many games you will need to bet on, and how many of those games you will need to win. To better explain this I will outline a simple baseball bettors "business plan".
A. How much money do you want to make?
Let us say that your income goal for the MLB season in 2005 is $300 per month, or approximately $1500 profit for the season. (I will use a 5 month example of May, June, July, August, and September for this.)
B. How much money do I have to set aside for baseball wagering?
You have a $3000 bankroll ready to use for your baseball wagering. Based on what we will discuss below your monthly income goal should be about 10% of your bankroll.
C. How much do I need to bet on each game based on my bankroll?
This is a risk vs. reward situation. The higher the percentage of your bankroll that you wager on for any one game, the higher your odds of going bankrupt. I have found good success with betting 2% of your bankroll, and potentially increasing that to 5% for higher rated plays such as, "Games of the year or month, etc.")
In this situation based on a $3000 bankroll, your 2% bets would be $60 per bet. You would have to go 0-50 before you would lose your bankroll. This type of conservative strategy is safe and important in grinding out long term profits.
D. How many games do I need to win per month to reach my monthly goal?
Because baseball betting price outcomes can vary since most wagers on done on the money line and not straight 110-100 odds, it is a bit difficult to say EXACTLY how many games or what winning % must be attained to reach your goal. For the sake of this article I will assume that most people betting money line plays stick with underdogs in the +110 to +150 range, or even a bit higher in some cases. If you are someone who typically bets favorites, I would warn you that over the long haul this can be a very disastrous practice and will eat up your bankroll in a flash! Explaining the mathematics behind this is beyond the scope of this article, but I will expand on this in upcoming articles.
I will show four examples below of playing different money line prices, and the winning percentage needed from each of them to reach your monthly income goal. I will use 80 games wagered for each month, this would correspond to 2-3 picks for each day of the month.
If you can pick 46% winners at +130, you would win 37 games out of 80 , and if you bet $60 per game your monthly profit would be $306.
If you can pick 44% winners at +140, you would win 35 games out of 80, and if you bet $60 per game your monthly profit would be $240.
If you can pick 42% winners at +150, you would win 34 games out of 80, and if you bet $60 per game your monthly profit would be $300.
I discourage you from betting too many favorites, but if you can pick 56% winners at -110, you would win 45 games out of 80, and if you bet $60 per game you monthly profit would be $390.
Over the years baseball underdogs win about 44% of the time, so you can see that if you can handicap well enough to find these winners, you can be successful. With 30 MLB teams there are 4860 total games played for the season, and in the above situation you are playing 80 games per month, or only 8% percent of all the available games. If you are selective with your picks the above is a very attainable goal for any gambler.
E. Applying the above to your bankroll and goals
The above example shows a realistic goal of what is possible if you have a good money management plan, and can pick a reasonable amount of winners.
For your individual situation pick your monthly income goal, that should be approximately 10% of your current bankroll. Realistically, if you want to win more money than that, you either need to pick more winners than the above example shows, have a larger bankroll, or increase the amount of your bets, which can be a hazardous practice, and is not recommended for long term success.
F. Evaluate your progress each month
Each month you will want to evaluate your progress. If you made money, the size of your 2% of bankroll bets will increase, if you lost money one month, they will decrease. A more conservative approach is to calculate your 2% of bankroll on a weekly or even daily basis. That way your bet sizes will decrease during a colds spell, but increase during a hot streak. Monitor the types of games you are wagering on. If you are struggling you should look at things like: are you betting too many favorites, or too many +250 long shots, are you following the 2% bet strategy, or maybe you are just taking some "bad beats"?
If you are struggling with your picks there are professional handicapping services available. Align yourself with a reputable, documented company. A new website to keep an eye on is http://www.PayAfterUWin.com. This site is being developed by Professional handicapper Dave Scandaliato and will provide tons of good handicapping information for all sports.
Hopefully the above information will give all gamblers some things to think about. For the beginning baseball bettor this gives you some basic fundamentals to use as a guide. For the professional gambler evaluating past progress and setting and following goals are a very important aspect of long term success.
Corey Bachmeier is owner of http://www.CoreyBachmeier.com and http://SportsBettorsGuide.com. He provides information to improve your skills and success in the world of professional sports gambling. He can be reached at 612-325-7773 on via his websites.
Thomas Sweetz: Will gambling continue to provide governments with tax revenue? - Allentown Morning Call
Video Poker: Why People Lose More Than They Should
Ask any casino executive and they'll tell you that video poker is a real money maker for the house. Yet, many video poker games feature a house edge of less than one percent, and others still can actually yield over a 100% payback if the player uses an optimal playing strategy.
Gambling Equipment 101
The excitement and popularity of the gambling games entices few players to own their own gaming equipments. Mini blackjack tables and poker tables are quite famous among the buyers.
Do You Want to Discover the Three Hidden Secrets of the Poker Playing Professional?
What's the difference between an amateur and a professional when it comes to poker playing? Professionals consistently win. Do you want to win like a pro? Professional poker players are professionals for a good reason - their professionals.
Think Big and Give Your Poker Profits a Boost
Is your lack of confidence hurting your poker profits in your online poker play?In the good Texas Holdem poker rooms on the internet there are various levels of buy-ins for tournament play, generally starting from around $5 (plus site fee) per player. This is the level that most new players play at but has your game moved on while you've stood still? What I mean by that is - have you gained enough poker experience to leave the "newbies" behind and move up a couple of levels? If you have then I would seriously suggest that you start playing for higher stakes, you could be losing out on a lot of online poker profits if you don't.
How To Choose A Reputable Online Casino
With literally thousands of online casinos on the internet, it can sometimes become very confusing as to which ones are safe and reputable, and which casinos are not. So many of them are beautifully designed, look very professional and offer great signup bonuses, so how does one go about choosing the "reputable" online casinos while avoiding the "dodgy" ones?When choosing an online casino to play at, one should always take into consideration the following points:Licensed casino: Is the casino licensed? While many online casinos are licensed, a significant number of casinos are not.
How to Win Texas Holdem
Women Gambling 101
There is a fundamental difference in the outlook of men and women about gambling. Surprised!! Well it is true.
James bond plays it and so does a large part of America. A table a wheel which has about 37-38 pockets many pockets where the ball must land after it is spun by the croupier.
Playing Online Poker For A Living
Playing online poker for a living is absolutely doable, but it takes a combination of talent, dedication, patience, discipline and disposition to succeed.You must study and constantly work on the weak parts of your game.
Texas Hold em Poker Basics
Texas Hold em Poker (also know as Holdem Poker) is a card game which you'll take a few minutes to learn but many years to master. As a beginner you'll want to learn the Texas Hold em Poker basics - the rules, hands rankings and types of texas hold em poker.
Video Poker - Tips to Remember
Video poker is an easy game to learn to play well, so do take the time to learn the basic draw strategy, as well as the best machines to play (the ones with the most favorable payout schedule). In addition, the tips below will give you a better chance of winning and overall make the game more enjoyable.
Amazing Lottery Secrets - Just the Facts!
When it comes to Lottery Secrets, we've discovered amazing and powerfulinformation, that we feel anyone who plays their respective lottery shouldbe aware of. Did you know that the greatest percentage of lottery playerschoose to "quick pick" their numbers?If you knew this bit of information you might want to reconsider.
Sports Betting and Money Management
Your bankroll must be protected at all costs, a good bankroll will get you thru the ups and downs of sports wagering.You must think of Sports Wagering in the very same light as you would Stock Market investments.
Blackjack - Increase Your Odds With Basic Strategy Plus
Blackjack Basic Strategy, played perfectly in a game with favorable rules, will reduce the edge against you to about one half of one percent, the best odds of any game in the casino.But still - it's a negative edge.
Play Poker Online Against the Stars of the Silver Screen
There's no secret that poker is taking the world by storm. Businessmen, college students and even grandparents are taking up the game at astronomical rates.
Compulsive Gamblers Struggle To Stop Gambling Even Though They Know They Have A Problem Gambling
Every compulsive gambler has uttered the words "Please help me stop gambling" at one point or anther in their life. They continue to struggle on a daily basis to stop their hidden addiction.
Gambling Addiction 101
A lot many of us know something or the other about gambling, must have at some point or the other have indulged in it in some or the other form. A trip to Las Vegas takes us right into the heart of the matter although the start might be as simple as a game of poker with friends while waiting for the school bus.
Maximizing Your Blackjack Earnings Without Counting Cards
Blackjack has some of the best odds in the casino. The house's advantage is about ½ of 1%.
Texas Holdem Poker - Today
The Texas Holdem poker phenomenon has taken the country by storm. There are reportedly over 100 million active poker players worldwide.
Class: It Tells All
The word class, used by handicapper is no abstraction. The entire structure of thoroughbred racing is based on the differences in class between animals.
Section Site Map - Submit News - Feedback - Comments - Advertise with Us
Copyright © 2006 Luminati Inc. All rights reserved.