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Two important aspects of gambling money management
are
organization and record keeping. They are both key
factors in being a successful sports gambler. Often
learned the hard way, keeping records is vital in
knowing what strategies have worked and what haven’t in
the past. Some handicappers know that their strengths
lie in different sports and place double the amount on
each unit for that sport; this is due to a long history
of record keeping. We need to record accurately not only
our handicapping, but also and just as importantly we
must be right on track with our money. How else will you
know exactly where you stand? You can’t! How many times
have we heard someone say when asked how he or she is
doing, respond, “I’m ahead a little bit”, or “I’m about
even”. About Even, what does that mean exactly? You are
either behind, dead even, or ahead. This people answer
this way, more times than not because they do not know
exactly where they stand, and they rationalize to
themselves that they have won more than lost. Frankly,
my money is too valuable to not know exactly where I
stand every day. The goal here is to make money. If you
do not track your money, everyday, you are already
behind.
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You have to be organized. You have to be
able to know what information you need, where to find
that information, how to interpret that information, and
last but most certainly not least, you have to be able
to record it. Handicapping baseball is an accumulation
of edges that we as handicappers take in and process. It
takes years to develop. In order to see how what we are
doing right, and sometimes more importantly what we are
doing wrong, we have to record what we are doing so we
can step back and take a look at our goal and the steps
we are taking to get there. If we see something in our
handicapping records that sticks out, we can make minor
changes to correct to error and see how the correction
does in the future. If we see improvements in our picks,
we know we did something right, yet without our records
to study, how could we have possibly ever known? We
couldn’t. The point being that a person that looks at a
paper or reads a preview of a match up, then jumps to a
conclusion and places a bet has no idea what he is
doing. When you work with stats, make notes on teams,
and do it everyday, you start to develop a “feel” for
teams. You start to know the pitchers, and why shouldn’t
you? You track every game a team plays and every start
for each pitcher. You can actually feel the team. You
know where they came from, where they are going. Plain
and simple. And without tracking, it is not possible. It
is simply to much information to remember. But with
notes for each team, you don’t have to remember you just
look back in your notes. I consider keeping accurate
records just as important as handicapping games and
making picks. Without it you would be better off making
your picks with a blindfold on.
Record keeping in regards to money seems
like a no brainer. But time and time again bettors, for
some reason or another don’t even consider it. Why, I do
not know. As I mentioned before, my money is too
valuable to me to not keep records. I want to know how
much money is in my bankroll, how much in each online
account. I want to know all of my picks for the season,
win percentage, units up or down, EVERYTHING. Think of
it as another tool in your arsenal.
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