If you are a regular sports bettor I would guess you have heard the term “money management” countless times.
Amazingly enough though, as many times as people here about it, read about it, or talk about it, they still don’t practice it in NFL betting odds. Even the best NFL betting odds handicappers in the world will slip up when it comes to football betting money management. Why is it so hard? Some NFL odds fans are poor with money management because they just don't have any discipline, while other people just don't know what they are doing.
If you are going to be a successful NFL football betting odds player, then get it into your head right now that money management is important, and not something you can ignore. You need a solid plan of attack for NFL betting and it has to be more than just what you are doing this Sunday.
Let's start with the basics of money management. You can't win any money at NFL betting without a bankroll, so let's start there. Many people don't understand that you should be betting only a small percentage of the bankroll on each game. Some of the so-called experts say that your bet size should be 5% of your NFL betting bankroll. I suppose for the casual average bettor that is fine. If you are doing it professionally, however, the size should be 1 or 2%.
Now many people are not going to stick to this 5% or less of their bankroll recommendation for their bet size. They are probably going to go broke. The intelligent NFL betting player is going to show patience and discipline and that means practicing good money management. Let's look at a couple of examples of good money management and bad money management. A good bettor might have a $1,000 bankroll and is betting $50 per game. He has a tough NFL betting day and goes 0-4 and loses $220. He still has a strong bankroll left. The other football betting fan that has to have at least $100 or $200 on his game is down $440 or $880 and in serious trouble. Let's say the good bettor that practices money management is down his $220 for the day but has a strong play on the late game. He can now bet $100 on the late game and feel safe about doing so. The poor money management person has to win the late game or their NFL betting bankroll is gone. You don't want one bad week to ruin the whole football betting season. The NFL betting season is a long one, and you want to be around to see it.
Money management in NFL betting is not easy. It’s hard to remain disciplined and stick to your plan. But I am telling your right now that it is something you must gain to be successful and the sooner you do it, the better off you will be.