Money Management for Sports Betting
Okay, I have completed 100 bets 62 of them for real money. I stopped betting not because I ran out of money, things just got complicated around here when a tree fell on my car last week and totaled it. All bets were made before the event occurred and results were tabulated the next day. Least number of bets in a single day was 0 (or 1 if you want to look at it that way), largest number of bets in one day was 8. I won 58 bets and lost 42 for a 58% win rate. Flat betting an $11 unit, I bet $1100 total, won $580 (58 * 10) and lost $462 (42 * 11) for a flat bet win of $118. I figure this was beginners luck since I don't follow sports at all, but gives me confidence that I can hit at least the 52.5% (?) to break even with the vig.
Some HMI questions.
If I bet $11 and win, my return is $21 (the $11 bet plus the $10 win), a loss is -$11. So in the HMI spreadsheet, my bet is $11 (Column D) and my RETURN is $21 (Column G). I had to modify the Single Bets spreadsheet to get this result.
Now for the life of me, I cannot figure out the Mini-Session spreadsheet, even with the HMI video. If I figure I use 5 bets for a session, do I divide the recommended bet (Column D) by the number of bets to be made EXAMPLE > Recommended bet $40, 5 bets to make, 40/5 = $8 I make 5 - $8 bets
Do I use the recommended bet for each of the five bets EXAMPLE > Recommended bet $40, 5 bets to make, 40 x 5 = $200 or 4-$40 bets.
I just can't seem to get this one right.
Any help would be appreciated.