Hi, and welcome to the Gooners MONEY MANAGEMENT page.

This is the section where we discuss basic principles that WILL help you to collect more from your winning bets - and also lose less on your losing bets.

This is the MONEY lesson and it's the simpliest to do (it takes about an hour to setup) and just a wee bit of discipline to use in order to ensure better returns - but many punters will never take this step.

Once again - lack of space means we must gloss over the detail - so if you want to get more specific then lets start a discussion on the forum. If we cover something good then I'll also post it on here.

Bookies have the mathematical edge - but we can minimise that simply by being prepared and find a way to consistently make a profit.

Good Luck.

So, you want to make a BIGGER profit eh?

This section is for people who are already pretty comfortable with Sports Betting. You understand the odds, the bets, and the game, but you'd like to turn or profit of improve that profit so it starts paying for your BAR TAB!


Here are a few ways that you can improve your "take".

ALWAYS bet at the BEST price.

You remember in the advanced betting concepts we talked about value?

Value is quite simply the chance of a bet winning multiplied by the odds taken. Well - if you can't improve the chances of the team - then the best thing to do is improve the odds you take !!

Impossible? No. Here's how it's done.

1) USE MULTIPLE BOOKIES!!

Just take a look at the odds in the table on the right hand side - you might recognise it - it's the table from the Euro2004 final between Portugal and Greece.

All of these bookies are reputable bookies - who had the same information - but take a good look at the spread of prices on the two sides and see that there is a significant difference in the prices for both sides.

A bet on Portugal was priced between 1.67 and 1.80 (a spread of 17%) while Greece was priced at 5.00 to 6.00 (a spread of 20%).

This is a typical example - although the low/high bookies change from game to game.

It happens because bookies rate the teams slightly differently to start with - but also because as their customers bet on the games, it causes the prices to change as the bookies try to balance the bets on both sides of the fixture.

It's a statistical fact that by spreading your bank around and using 4-5 bookies you will get 10-12% more out of your betting than by simply using 1-2 bookies.

It's a statistical fact that by spreading your bank around and using 8-10 bookies you will get 15-20% more out of your betting than by simply using 1-2 bookies.

DON'T go away and forget about it. DON'T switch off because it's boring.

This is the most important thing you will learn about your betting in pre-season. You will do better if you follow this path.

If YOU have active accounts at multiple bookmakers online - and only take the top prices - then YOU WILL WIN 10% or 15% or 20% MORE than you do today - even if you change nothing else.

ACT TODAY - IN FACT I SUGGEST YOU ACT NOW!!

If you really do not have time - then bookmark this page and come back later today (after work) and get your betting finances in order.

If YOU prepare for the new season - open 1,2 or 3 accounts with new bookmakers and make a deposit in all of them then this season YOU are going to be winning more. ( you can claim the FREE JOINING BONUSES as well !)

You should try to fund each of the bookmakers to the same level - share your total bank amongst them - as I am going to suggest a staking plan that assumes multiple bookmakers.

2) Kelly Criteria - Staking Plan

Ok. I am currently using a variant of the popular Kelly Criteria in order to determine my Money Management schemes.

This is a simple and elegant calculation, that examines the value advantage you have on the bookies odds, and suggests a stake level given your current bank.

However it does assume several things :

You have calculated the potential winning chance of your bet.

You have found the best odds at one of YOUR active bookies

You have at least three active bookies

The Kelly Criteria will calculate the stake required to boost your bank at the bookie by a percentage equal to your advantage. It is an aggressive staking system that will maximise winnings IF you accurately assess your chances.

It suggests percentages between 5% to 50% of a bank - and that it why it is ESSENTIAL that you have multiple accounts in order to smooth out any damage that may be caused by a big stake being lost at one bookie.

But just remember. The whole process is a tool. The more that you study Sports Betting - the more it starts to feel like an investment business. You should not leave steps out.

If you use the Kelly Criteria with incorrect chances it will give you bad advice. Your estimates must be good.

If you use the Kelly Criteria with just one account and accept low odds then you cannot expect to increase your average winnings. And you run the real risk of blowing you whole bank on a poor bet. No bet should ever be for more than 20% of your bank. EVER.

LINK COMING SOON:
I have not (yet) managed to code a web page with the Kelly Criteria calculation on it - I hope to have completed this by the end of July - but if you would like an early copy then get onto the FORUM and post a request message and I'll reply with a link to an EXCEL spreadsheet with it on.

3) Which Bookies to use?

OK. Hopefully you've paid attention and want to win more money. Now you need to prepare your portfolio of bookmaker accounts in order to get the best prices.

I've listed all the bookies that I personally bet with on the right hand side, and you can see their adverts running down the left hand side.

DISCLAIMER : If you join the bookies directly from ANY of the links on this site - then I get a FREE BEER - which would certainly be appreciated.


FREE BETS

I've provided a summary of four bookies that have FREE BONUSES in the Free Sports Bet Offers as the bookies are fighting for your business and offering joining sweeteners. They are worth taking.

BOOKIES REVIEWED

I have also reviewed and ranked all my personal bookies in the 100% Secure Bookmakers Rated section. I suggest that you only choose bookmakers on this list.

Depending on your preferred bets, favourites teams, and leagues you may find a different combination of bookmakers to suit - but all for these bookiesare 100% secure - AND THAT'S ESSENTIAL !!

CASINO AND POKER

If you already belong to all these bookies then you are on the right track - you're probably a regular winner - and I hope to see you sharing your ideas on the visitor forum too.

If you'd like a FREE BONUS for online gambling then you could try My Casino & Poker Page - as it lists two world class options for online gaming - and they are giving out BIG joining BONUSES this month. Get in!!

Summary

IF you've gone through the tips pages, Basic Betting Tips, Special Bets Betting Tips, Advanced Betting Tips, and Money Management then you'll have a good idea as to how I look for and find my bets.

Want more ...

We are pretty active on the FORUM on most match days - and you are certainly most welcome to stop by and join in - review the bets being suggested and provide you own ideas.

I'd love to see you there.

Good luck with your punting ...
THE GOONER