Here's a condensed version. I'm sure others here will have different opinions, but most will stay close to this.
#1
Have a bankroll. Your wagering bankroll should be money that is is set aside for no other purpose. It should be money that if you lost it all, it would not affect your life one bit. If the money you are wagering with is needed for anything else such as rent, car, food or whatever, it will end up with the bookie. Why? Because if you really need to win money you will make poor decisions.
#2
Wager only a small percentage of your bankroll on each game. I think 2% is a good number. $5,000.00 BR = $100.00 wager. Some players with huge bankrolls only wager 1%. Some with smaller BR's wager 3-5%. I say never ever more than 5%.
#3
Never put a large % of your bankroll at risk at any one time. Some say 15%, some say more, some less. I think 15% is a good figure. So if you have a $5000.00 BR, do not have more than $750.00 at risk at any given time. That means you could play 6-7 games tonight, risking $110.00 each.
#4
Always get the best number. Have several offshore accounts and perhaps a local bookie too. That extra 1/2 point is so important. Especially in hoops.
#5
Stay away from parlays and junk bets. Teasers are OK in NFL, but you should know what you are doing.
#6
Discipline, discipline, discipline
These are the baics, mine anyhow. I could write a book on this, (actually I have) but if you stay close to this you will be fine. GL