Online Sports Betting Money Management

Sports betting can be an interesting way to pass the time and have some fun while watching your favourite sport. You might even win some money occasionally. Additionally, it can turn into a profession, if you want the profits to be your main source of income. Either way, there’s more to it than simply throwing 20 bucks over the counter, hoping for the starts to align.

In online sports betting, you have to consider several aspects of the matter before risking your money. Namely, knowledge about the sport and the team may be useful, and combined with the odds provided by bookmakers, you might be able to make a solid prediction. However, even when combined with pure luck, there’s a need for actual planning if you don’t want to get carried away.

You might be comfortable using certain real money bonuses at Bet365 without a deposit requirement or attractive promotions from similar betting sites, but such short-term solutions will only keep you entertained for so long. Therefore, more experienced bettors have publicly expressed the need to construct a bankroll whenever you’re planning on taking up sports betting.

Setting Up A Bankroll

This term basically signifies the amount of money you are willing to separate from your usual funds and spend them on betting. Bear in mind that professional bettors always keep to their chosen amount, while amateurs tend to pick the minimum, later adding money from your regular fund which ultimately makes you spend even more.

The bankroll should help you get a clear preview of the exact amount of money you’re planning to spend. However, if things go well, you won’t be spending money as much as you’ll be winning them. Once again, a separate fund for sports betting allows for a precise record of all profits and losses.

How Much to Bet

The eternal question has been answered, and rash bettors are not going to like it. Experts recommend betting 1%-3% of your total bankroll, with 2% being both a risky wager, but a fulfilling one.

In this regard, you may choose to go with a fixed plan. This can go both directions, the first one being level staking which basically means that if 2% of your primary bankroll is $30, you would keep that wager for all bets. Percentage staking, however, accounts your funds and for each bet calculates 2% of the current bankroll.

A variable plan will let you shift between wagers depending on the expected value, the potential profit, or simply your level of confidence about the bet.

Go All The Way

Make sure you don’t lose focus mid-bankroll and start betting compulsively. Considering the fact that even the most experienced, professional sports bettors lose about 35%-40% of the time, keeping any strategy at hand is much better than letting money go to waste.

Keeping your bets low is bound to bring some return from time to time, while fluctuating bets might make you chase loses or even worse, stop just before the major hit.

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