For anyone who is serious about creating a winning strategy for betting on the NFL this season, proper money management is an essential part of the process. The overall goal is to capitaloize on opportunities to win money while minimizing the losses when things are not going your way.
The first step is to create a specific monetary betting unit. The second is to employ actual betting techniques when it comes to placing bets on the games.
Unit Betting Systems as a Money Management Tool
Instead of thinking about how much money to bet on each game, you should always think in terms of units. If you normally bet $50 a game, you should consider that a five-unit play with each unit equaling $10. Sometimes it makes sense to lower the units bet if your confidence level is less than strong. However, if your confidence level is sky high for a certain pick, you may want to increase the units bet.
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Unit betting based on confidence levels is a great way to improve your overall return on investment as opposed to relying on a higher winning percentage to earn a profit betting the games.
If Bets as a Money Management Tool
Online sportsbooks offer a betting option that is a great way to manage your betting bankroll when betting on multiple NFL games during a particular week of action. As opposed to a Parlay play where you have to win all of your grouped selections to cash a winning ticket, the If Bet is a series of games grouped together with one play dependent on the results of the previous one.
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An If Bet hinges on the result of the first game bet. If you win that bet, then there is action on the next game on the list. If you win the second game, there is action on the third all the way up to the total amount of games included in the original bet. Some online books will allow you to string together as many as 15 games. In reality, the typical If Bet should probably be limited to two or three games grouped together at one time.
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The following is an example of a three-team NFL If Bet. The initial wager on the Packers vs. Bears game is $110 to win $100. If you lose with Green Bay, the rest of the bet has no action. If you win with Green Bay the next matchup between the Saints and the Falcons has action. If you have Atlanta and lose, the bet has no further action. If you win with Atlanta, there is action on your third game between the Eagles and the Redskins. Regardless of the outcome of this game, your three-team If Bet comes to a close.
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When formulating the If Bet, your initial wager should be your top pick and highest unit play. If you win that game, you can bet up to that initial amount won on the second play. If the first two games are won, you can bet up to that total on game three.
An If Bet would allow you to stagger the risk across three different bets. It also allows you to cut your losses if that first bet losses. This can be an excellent way to manage both your units bet per game as well as your overall money in play.
By limiting any potential losses while also maximizing your winning potential, an If Bet becomes a very attractive option as opposed to a grouping of three teams in a Parlay. How many times have you won your first pick or even first two picks only to lose the third?
