The Lock Talk - Newsletter #43

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TLT SPORTS BETTING SCHOOL
BANKROLL MANAGEMENT 101 - DEALING WITH W’s & L’s

Prior Bank Roll Mgmt. Lesson Emails:
- Part I - What is Bankroll Mgmt.?
- Part II - What is a Unit?
- Part III - Different Betting Styles

• Emotional Discipline in Sports Betting: The key to success isn't just in the bets you make, but also in how you handle the emotional rollercoaster.

  • Winning can lead to overconfidence, while losses can trigger frustration. It's crucial to remain disciplined and not let emotions override your strategy.

  • Remember, betting is a marathon, not a sprint.

• Moderation During Winning Streaks: It's natural to feel invincible during a winning streak, but caution is your best friend. I

  • f your usual bet is 2% of your bankroll (say $20 on a $1,000 bankroll), consider a modest increase to 2.5% ($25), rather than doubling down.

  • This approach safeguards your winnings while still capitalizing on your streak.

• Handling Losses Without Chasing: After a string of losses, avoid the temptation to 'chase' these losses with larger or riskier bets.

  • This often leads to even greater losses.

    • For instance, if you're down $100, don't make a $100 bet trying to break even in one go.

    • Stick to your standard betting unit, or take a step back to reassess.

• Consistency in Bet Sizing: Whether you're on a hot streak or facing a slump, consistency is key.

  • By maintaining a steady bet size, you ensure that a single win or loss doesn't disproportionately impact your bankroll.

  • This strategy helps in managing your funds effectively over the long term.

• Regular Strategy Review: Periodically review your betting strategy, especially after significant winning or losing streaks.

  • This review can help you determine if these streaks are a result of good decisions, mere luck, or if your strategy needs tweaking.

  • Continuous learning and adaptation are vital in the dynamic world of sports betting.

Remember, managing your bankroll effectively during varying streaks is crucial for long-term success in sports betting. Stay disciplined, stay smart, and let your strategy guide you through the highs and lows.