Bankroll Management Sports Betting
Let us be frank: gambling is not a joke. There’s a reason only adults are allowed to partake, and there’s a reason why licensing for online operators is such a big issue in a lot of countries. It’s a very thin line between recreational betting for entertainment and what is referred to as “problem gambling.”
One of the best ways of keeping yourself on the former side is bankroll management. These are ways of controlling your spending with online sports betting and other forms of gambling. You’ve probably heard the oldest piece of advice when it comes to this – never bet bankroll more than you’re willing to lose.
However, there are other bankroll management strategies. Let’s take a look at some of them.
Expect to Lose Bet Money
It might sound a bit pessimistic, but it’s true. This one has a second part, as well. No not expect to win. These might sound the same, but there’s a slight difference.
On one hand, spend bankroll money on online gambling the same way you would on any other form of entertainment. That’s an important point. Online betting sites are a form of entertainment, not a sports betting investment. Once you’ve put up bet money, treat it as if it’s already lost. If you do win – great. But never count on it, because no matter how reliable your betting tips are or how good your betting strategy is, it’s never a sure thing.
Set a Budget
The safest way of making sure you’ll never spend more than you should is my setting an amount of bet bankroll you’re willing to lose. This can be on a daily, weekly, or monthly basis. Just stick to the number, and have discipline – do not go over it no matter the circumstances.
Luckily, a lot of the best online bookmakers offer a deposit limit as a feature. This can help you out with keeping track of just how much you’ve spent, and prevent you from accidentally going over your budget. Which brings us to our next point.
Track your Bets
Even if you’ve set an acceptable budget, it’s a good idea to do some basic accounting. Just keep a detailed track record of all of your wins and losses, and re-evaluate it now and then.
Your budget is not necessarily set in stone. If you feel you’ve got a bit more disposable income and that you’re generally okay with spending some more on online bookies – great. If, on the other hand, you feel like your losses need to be cut down a bit, it’s important to recognize the fact early and adjust your budget.
Use a System of Betting Units
Sports betting units, in betting terms, are used to refer to a sort of standard stake that you use to make all of your wagers. It’s a fairly straightforward way of doing things: it requires only a little bit of math, it does not have a lot of variables, and it offers consistent results. Using unit bet is great sports betting money management system.
The easiest way to calculate your unit amount is to take your budget and divide it by the number of bets you make on average. That way, you always have a fairly clear picture of how much you’re spending.
Br management deserves as much attention as you can afford to give it. Keep what you’ve read here in mind, and you can rest easy knowing that you practice safe betting.