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Larry Grossman

Larry  Grossman
Larry Grossman is host and producer of Las Vegas' most popular gaming and handicapping radio show, "You Can Bet On It." Since 1989 he has interviewed World Champion poker players that include Amarillo Slim, Puggy Pearson, and Tom McEvoy. Regular guests during the football season include Lem Banker, Mike Lee, Mort Olshan, and Andy Iskoe. During the 1997 and 1998 season, Grossman hosted a nationally televised show that featured many of the nations' top handicappers. Larry Grossman is the author of two books, "You Can Bet On It" Volume 1 - Casino Games and Volume 2 - Sports Betting. He is a regular columnist for many gaming publications. Larry has hosted and produced handicapping seminars in Las Vegas. Visit AudioVegas.com to find archives of his radio show.

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Football Season is in Full Swing

30 Aug 2003

By Larry Grossman
Football season is in full swing and if you want to give yourself a legitimate chance to win, it would serve you well to pay attention to some of the advice that I am about to share.

Betting systems are as old as gambling itself. There's the Martingale, where you double your wager after each losing bet. This is just about the dumbest system ever thought up. There is a huge downside and very little upside. If you or anyone you know suggests this method of play, do not under any circumstance play with your own money. Save yourself the time and aggravation and just take a torch to your wallet.

Here's why: Let's say you win five bets in a row with a starting bet of $20. Under this scenario, since you would not increase your wager after a winning bet, you would win a total of $100. That's all well and good but let's look at the reverse situation happening. If you lose five bets in a row, the sequence would go like this, and I'll round it off without the extra 10% vigorish that you have to pay on every losing bet: $20, 40, 80, 160, 320. That adds up to $620. I know that you are probably thinking that I can't possibly lose five bets in a row. Well my friend, the very best in the business have lost five in a row and sometimes when things are going south a lot more than that.

Many professional bettors like to wager on a percentage of bankroll system. That means if you begin with a bankroll of $5,000 to wager during the football season and begin to bet between 2% to 5 % each game you would start by wagering between $100 to $250 per game. If you win and the size of your bankroll grows, your wagers will naturally increase. If you are losing the size of your wagers will decrease, and it will help to preserve your cash until things turn around.

During the course of the season you will have many ups and downs. That is the very nature of the exercise. If you allow your emotions to run wild and bet large amounts trying to win back what you've already lost, you will have no precautionary measures to stop your downward spiral. If you are losing your betting schedule will be less due to the thinning of your bankroll. A word of caution here: I mentioned previously to bet between 2% to 5% of your existing bankroll. It is very important to stay with this plan throughout the entire season. If you really like a game and have it handicapped where you have a lot of confidence then bet 5%. If you want to play a game and don't have as much confidence, bet 2% or 3%. There is no game that is worth 10% or 20% of your bankroll. The game may look great going in and the pointspread may look totally out of whack but be wise and don't get caught up in the emotion of the moment. It is extremely important to stay with the game plan. Don't stray from what works in the long run.

Big egos and big losses go hand in hand - John Gollehon

As Always…Good Luck!

 
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