by Pete Smits

Created on: March 07, 2008

Dogs are a (Betting) Man's Best Friend

With the biggest sports wagering event (Note: as a single day event, the Super Bowl draws more wagering, but does not last for three weeks), namely the NCAA Men's Basketball Tournament aka March Madness starting in a few weeks, a few common sense suggestions should help you keep a few more dollars in your betting account and add to your enjoyment of the games.

MONEY MANAGEMENT: Without this fundamental principle, you can write off your stake as being gone by the second weekend of the tournament in all likelihood. Whether you are a beginner or a veteran of the gambling wars, you should determine how much you are willing and able to lose in a worse case scenario - this is your bankroll, the amount you have set aside or placed in an on-line account. This should be an amount that you can win or lose without any effect on your lifestyle, namely paying the bills and mortgage every month.

For example, if your bankroll is $500, then each wager should be approximately 1/100 of your bankroll, preferably at all times. So, in this case, although it may sound trivial, your wagers should be $5 each at the outset - you will have trouble finding this option if you are betting locally, that is, calling a local "bookie," but in an on-line account (more on that below), this will be readily available. From this point, use a week as a "betting period" and then re-assess your success or not at the end of each of these time frames. If you managed to move your stake up to $600, you should begin wagering $6 on each game, if you went the other way to $400, drop your plays down to $4 each. Doing this, you will quickly find that you still have money in your account and that you are learning which wagers work or not while not being penalized severely for the lessons.

BETTING VENUES: Without getting into a political discussion on the government's attempts to legislate morality, your best source for sports wagering remains reputable on-line accounts. Recent legislation has made it more difficult to fund these accounts with credit cards, perhaps not a bad thing and some reputable businesses have stopped taking wagers from United States customers. A few sites that have established a good reputation and have excellent wagering options are: www.vip.com and www.wagerweb.com - regardless, you are looking for an establishment that has been in business for several years, has ample customer support, a clear method of payment with simple terms and, of course, a

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