Money Management

Control of ones "Bankroll" is paramount to success. You can pick 80% winners and still go broke if you don't know how to play responsibly. There are many theories as to how this is best done. Even the best, most informed Players have bad losing streaks but they know how to handle them. This is normally where the novice gets knocked out of the box. He will chase his losses by throwing good money after bad. We all know what to do with a winning streak, right? Wrong. People tend to either press too hard trying to win too much or they cut back trying to protect their winnings. A money management system as described below is regarded as the best way to properly operate one's Bankroll. It protects against big losing streaks and presses "just enough" in the winning streaks to maximize one's profit. Here's the system:

Divide your Bankroll by the number of sports you are playing simultaneously. College Football, NFL, Baseball, College Basketball and the NBA all get their own Bankroll.
Your average wager should be between 3% and 8% of the Bankroll, with 5% being an average play. When a "Top Play" is found, wager between 9% and 12% of the Bankroll. If you find an opportunity that you feel "can't lose", wager 15% of the Bankroll.
NEVER wager more than 15% on any game!
NEVER wager more than 33% of your Bankroll at a given time. For example, don't make ten 5% plays all at once. This exposes 50% of your Bankroll to the Oddsmaker and eventually, he'll give you a licking! Be conservative.
After each "session" or set of games, determine your won/loss and add/deduct from your Bankroll. This sets you up for the next session. If you won, your Bankroll goes up and you are "allowed" to play more by virtue of the percentages of a larger Bankroll. If you begin to lose, your Bankroll goes down, thus your plays decrease in size, thereby limiting your risk. Bottom line here is that when you are winning, the system "presses it up!" When you're losing, you are "forced" to cut back. By the same token, if you are winning in College Football, and losing in the NFL, this system will automatically adjust your plays to be larger in the Colleges and smaller in the NFL. Keep the Bankrolls separated!
If you choose to follow a Professional Handicapper, play about 4% on his Regular Plays and about 8% on his Top Plays. If he has a "Game of the Year" or unusually large promotion, then you can take the rubber band off the Bankroll and play 10%-15%.
If you choose to play games on your own, by virtue of the fact that they are on TV, or because you are emotionally tied to a particular team etc., consider playing around 2%, or better yet, set up your own "TV Bankroll" or "Loveroll" as in the case of "I just LOVE the 49'ers"
Be humble. Greed kills the Bankroll!