With the NFL Season fast approaching, it is perhaps a good time to remind ourselves of some betting stategy to ensure that we have a profitable betting year.  There is more to good betting than just picking winners. One of the most important but often overlooked aspects is that of good money management.

Money management is the skill of protecting your betting bank, of keeping your loses to a minumim so you never end up blowing the lot on a bet which you thought was a dead cert.  The aim is to end up with more money at the end of the season than at the start, and sometimes it is hard to take that long term view, however good money management dictates that we must.

We like to set a total NFL betting bank figure at the begining of the season (no pre-season betting for us, though we do provide predictions).  Each bet during the year will be dictaed by your chosen staking plan, but should never go over 3% of your total bank.

3% might seem like a small amount, especially when you think you have a good value bet.  But don’t forget that if you keep winning then your bank will grow, so that 3% in actuall money terms keeps getting bigger and bigger.  The flip side of this is that if you have a loseing streak, it won’t wipe you out.

We will be discussing more about staking plans in future articles.

Don’t forget that our NFL betting predictions are always free here at NFL Foresight.  If you are also interested in betting on other sports then you might be interested in the other Foresight sites too – NBAForesight, NHLForesight, SoccerForesight, PremiershipForesight and RugbyForesight

Have fun betting in 2010 and mind that bank!

Tags: American Football Betting, Betting, Football Betting, Money Management, NFL Betting, NFL Predictions