Knowing the proper amount to bet on each sporting event is probably the most important factor in ensuring that you make money gambling on sports. This article assumes that you have an internet betting account and you make a deposit and use those funds until it grows and you withdraw funds or you use those funds until you run out of money and “bust” the account.
First, the basics, do not deposit money using a credit card, unless you pay that credit card off every month. Second, do not deposit money if it is money you cannot afford to lose. Third, do not gamble with money that you need for food, groceries, gasoline, the rent, the mortgage, utilities or your other monthly obligations. In sum, you should only use recreational funds to gamble.
How much to bet per event:
Unless you are gambling in some form of chase system (see our article on “Chase Gambling”) you should never bet more than 2% to 4% of your total balance on any one event. And you should always bet the same amount on each sporting event. The reason for this is that you want to be able to continue gambling with the same amount of funds even if you endure a massive losing streak. All the time gamblers will bet $100 per game when their balance is $1,000.00 or $200 or even $500 per game when they only have $800 in their account. There is no other way to say it, except this is an uneducated method.
Why 3% of your balance is the perfect amount to bet per event:
If you bet 2% of your balance on any given game, then you can endure a 50 game losing streak, before your account hits zero. If you gamble 3% of your account balance, then you can endure a 33 game losing streak before you bust. However, the gambler who bets 10% of his balance can only lose 10 games before he loses everything. If you bet 20% of your balance then you can only lose 5 games, and from there it only gets worse.
If you are gambling, you have to recognize that you will hit losing streaks, sometimes 10 games straight, there is a reason why it is called gambling. You must protect yourself by being able to endure a long losing streak. A simple chart is below, a safe number is 3%: