The Lock Talk - Newsletter #46

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TLT SPORTS BETTING SCHOOL
BANKROLL MANAGEMENT 101 - EMOTIONS IN CHECK!

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
- Part V - Record Keeping

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

• Impact of Emotions on Betting Decisions: Avoid making bets based on emotions, like trying to recover after a big loss.

  • For instance, if you lose a $50 bet, resist the urge to immediately place another high-stakes bet to "win it back."

  • Emotional betting often leads to irrational decisions and increased losses.

• Maintaining Discipline in Betting: Set strict rules for your betting, such as limiting your bets to 2% of your bankroll per wager.

  • If your bankroll is $1,000, this means each bet should be no more than $20, regardless of your confidence in the bet.

  • This discipline helps maintain a steady approach.

• Dealing with Losses: Implement a "cooling-off" period after a loss.

  • For example, if you experience a 10% bankroll decrease (e.g., from $1,000 to $900), take a break from betting for a predetermined period, like one week.

  • This break can help clear your mind and prevent hasty decisions.

• Avoiding Tilt: Stay rational and stick to your betting strategy, especially after a loss or a win.

  • Don't change your typical bet size drastically based on recent outcomes. If you usually bet $20 per game, don't suddenly increase to $100 after a win or a loss, as this can lead to rapid bankroll depletion.

• Role of Confidence in Betting Behavior: Confidence is key, but overconfidence can be risky.

  • For example, if you've had a streak of wins and your bankroll increases by 20% (e.g., from $1,000 to $1,200), avoid the temptation to significantly increase bet sizes.

  • Stick to the pre-set percentage of your bankroll for each bet.