April 10, 2020

Sports Betting Strategy – The Proper Way to Manage your Bankroll

There are people who think that Sports Betting is just a matter of betting for your favorite team or the most talented one – but really, it’s much more than that. The saying that you must never put all your eggs in one basket rings particularly true in sports betting, and it’s a lesson that every player has to learn before he makes any progress. Bankroll management is the most important aspect of the game, and it’s impossible to make a profit in the long run if the player does not know how to do this.


Knowing your Limits

First and foremost, what you must do is to decide how much money you can afford to lose on sports betting. Don’t think of this as a negative way to begin because it’s actually a practical way to approach the process. Knowing how much loss you can take before you begin spending your rent money is extremely important. After all, sports betting is basically a form of gambling, so you have to keep in mind that there’s a very fine line between gambling for profit or fun and problem gambling. Most importantly, stick with that amount, whether you win or you lose.


Eggs in Separate Baskets

Once you’ve decided your limit, you can then begin to decide how best to distribute the money. Those who are new to the idea of sports betting might be surprised to know that players don’t exactly choose one team over another consistently. Successful sports bettors learn how to spread their bankroll out so that they can turn up a profit in the long run. Big wins are all nice and good – but if you stick with that kind of strategy, you’re bound to end up with a big loss sooner or later. If that happens, you’ll lose a big portion of your bankroll and you’ll end up trying to chase your losses. That’s a pitfall that every sports bettor must avoid because it’s pretty hard to crawl out once you fall in. It is much better to make several smaller bets on several different games so that even if you do lose on some, you’re almost certain to win on the others. It’s a simple matter of odds. When you bet on just one team – put all your eggs in one basket, so to speak – you’ll have a 50/50 chance of losing your bankroll; a very dangerous predicament. If you distribute your money, however, your odds of winning will increase, and you’ll be able to stretch your bankroll out so that you can play for a long time, long enough to make a considerable profit.