The Lock Talk - Newsletter #44

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TLT SPORTS BETTING SCHOOL
BANKROLL MANAGEMENT 101 - RECORD KEEPING

Prior Bank Roll Mgmt. Lesson Emails:
- Part I - What is Bankroll Mgmt.?
- Part II - What is a Unit?
- Part III - Different Betting Styles
- Part IV - Dealing with W’s & L’s

  • Maintaining Detailed Records of Every Bet:

    • Start by logging every bet you make. Include details like the date, type of bet, odds, amount wagered, and the outcome.

    • For example, if you bet $50 on Team A at odds of -120 and win, record it. This practice will give you a clear picture of your betting journey.

  • Analyzing Betting History for Patterns:

    • Regularly review your betting records.

    • Look for trends and patterns.

    • Maybe you're winning more on basketball than football, or your live bets are more successful than pre-match ones.

    • Recognizing these patterns is key to refining your betting strategy.

  • Evaluating Betting Strategies Based on Records:

    • Use your records to assess the effectiveness of your strategies. Let’s say you've been following a progressive betting strategy.

    • By looking back at your records, you can objectively determine whether this approach is profitable or if it's time for a change.

  • Importance of Regular Review and Adjustment:

    • Your betting strategy shouldn't be set in stone.

    • Review your betting performance periodically – weekly, monthly, or quarterly.

    • If you find that your weekend bets are less successful, it might be time to rethink your approach during these days.

  • Using Record Keeping for Bankroll Management:

    • Detailed records are invaluable for managing your bankroll. They help you track if you’re consistently over-betting or if your bankroll is dwindling.

    • For example, if your bankroll shows a steady decline over several months, despite some big wins, this could be a signal to reassess your overall betting strategy.

Keeping and analyzing records might seem tedious, but it's a game-changer in making informed, strategic decisions. It transforms betting from a game of chance to a disciplined practice with a focus on continuous improvement.

TOOLS ARE KEY IN MAKING OUR LIVES EASIER!
HOW TO HAVE BETTER BANKROLL MGMT.

  • Keep track of your bets & get better at our lesson from above by clicking the link HERE 

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