Sports Betting 101 with Steve Stevens – Money Management

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The Key to Beating the Book: Money Management

In the world of sports betting, money management is often misunderstood. Many bettors think it's about betting on their favorite teams or games, but the truth is, it's about discipline and strategy. The biggest misconception is that money management is about how you feel, but it's actually about betting the same amount of money on every game, every day.

Betting on multiple games a day is a recipe for disaster. It's physically and numerically impossible to make a profit by betting on multiple games. Instead, focus on betting one game a day, and stick to your plan. This is the only way to beat the bookies and make a consistent profit.

A common mistake is to get emotional and bet more money on a game because you think it's a sure thing. Nothing is a sure thing in sports betting, and betting with your heart will only lead to financial ruin. Stay focused and stick to your plan, and you'll be well on your way to beating the book.

The key to success is to bet the same amount of money on every game, every day. This is the only way to ensure that you're making a profit in the long run. Don't get caught up in the excitement of a big game or the thrill of a winning streak. Stay disciplined and focused, and you'll be a winner in the world of sports betting.

Celebrity handicapper Steve Stevens from CNBC's original series “Money Talks” provides simple explanations of sports betting …



Celebrity handicapper Steve Stevens from CNBC's original series “Money Talks” provides simple explanations of sports betting …