As a bettor, you should place bets on games in proportion to your funds. You decide how much you bet according to the units. Let’s assume that the average lowest bet you place money on is $40. In this example, your allocated value per unit is $40. If your lowest bet is LVL 20, then the unit value is LVL 20.
The key to betting in units is to work with a number of units that you feel comfortable with. A unit is the average lowest amount of money you would bet per game. When making each selection, think in terms of units and how much you like that particular selection. My approach is to place bets based on the quality of the choice, not on whether I won or lost my last bet. The more you bet on a particular bet, the more you believe it has a chance of going through.
In summary, it will be difficult to win over a long period of time by betting every day or betting the same amount on every game. You can look for bets every day, but there will be many days that you just have to skip because there will be no good bets. You should be selective and only bet when you feel that the choice is well justified. Serious sports bettors should place bets three to nine times a week. For others it may be less often. Remember that you are looking for bets with good value, not bet after bet, especially on your big bets.
Set financial targets
Setting realistic financial goals is an important part of money management. I think that setting a specific financial goal, such as being a bettor, often leads to failure. Your goal should be to benefit from every good and excellent bet you find and to bet more money on better bets. If you keep this in mind and are a successful bettor, your long-term goal of making a profit will be achieved.
If your goal is to make £10,000 a year, that’s fine, but don’t bet just to meet your annual target. If you do, you will find that you are betting on games you don’t like that much and you will only move further away from your annual target as you will lose out by making mediocre bets.
Don’t dream that you will be able to turn a capital of 10,000 lats into 70,000 lats in one year. It is not realistic. Your financial resources can disappear very quickly if you try too hard to achieve your dream. If you have 10 000 lats to play the lottery and you manage to turn it into 13 000 lats in a year, that is not bad. Reaching 15000 lats would be very good, and doubling to 20000 lats would be great. Even if at the end of the year you turn your financial resources into 11000 lats, making a 10% profit, it’s still okay because you are ahead of most of the public who are losing money. Even if, after all the time and hard work you put in, you just end up with zeros in your gains, that’s okay too. The experience you gain can help you reap the benefits next year.
When betting in units, don’t suddenly increase or decrease the amount you are betting on just because you are “hot” or “cold”. If you are “hot”, stick to unit play with quality bets. Don’t think that if you are in the “plus” you are playing with “other people’s” money. No, you are playing with your own money – money that you have worked hard to earn. If, when you are in the ‘plus’, you start betting higher amounts, you will end up in a cold streak. You don’t want to lose profits just because of poor money management.
If your financial resources grow and you start to do well, you might decide to increase the size of one unit. A reasonable increase could be, for example, from 50 to 65 lats or from 300 to 400. The key to success is the quality of the bets over the quantity of the bets.