Bankroll betting money management is the most important strategy to be a consistent winner in sports betting with the best bookmakers out there, including bet365, 1xbet, Winner and 10cric. Most people believe that unsuccessful sports bettors fail because of lose in picks, but in reality, it is because of their poor money management capability. To be a successful sports bettor, you must understand the bankroll or money management system. This is a vital principle in sports betting arena.
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5 Best Tips for Betting Money Management
Tip #1: Sports betting bankroll
A sports betting bankroll is the amount of money that you want to invest in betting venture. You can consider it as like a saving account on a bank. You take money out to place bet and the winning return is like your interest. A bankroll should have a certain period and should be separated from the personal expense.
It doesn't matter if you are betting on cricket from Bangladesh or India, you should keep your money into sportsbook account for the targeted certain period. This will help you calculate the total profit or loss from sports betting. You should add or withdraw that account after the targeted period.
Tip #2: The golden rule of bankroll betting money management
This is the best rule about bankroll betting money management that everybody should learn and understand. It is not only used in sports betting but also used in other highly risky investment. This rule suggests that you should bet 2-3% of your bankroll on each bet you place. For example: if your bankroll is $20000, you should bet about $400-$600 per pick. Keep in mind that if your bankroll increases or decrease your bet size should vary on that rate.
Tip #3: Why you should follow bankroll betting money management
The reason you should follow this betting money management system to survive from the bad streaks or loss that inevitably will occur. If you invest 50% of your fund on one bet, you may fall in trouble when you lose. By keeping betting percentage same, helps you to survive in the downtime.
Tip #4: Your betting size should be bearable
Apart from the golden rule, you should bet on such amount that you can bear if an unexpected loss happens. Do not invest all your earnings on sports betting. You should only do sports bet if you have enough amount excess money. Never fall into a huge amount of debt by losing continuously on betting.
Tip #5: Do not chase your losses
The last betting money management tip is that do not chase your loss. This means you should not increase your bet size to cover previous losses from picks. Take a break, think more and make the decision wisely at that point in time.
Stewart Dixon is a professional online sports bettor and trader with over 10 years of experience in the industry. He worked numerous online bookmaker including Bet365, Betway, and William Hill. With this long experience, now he has decided to share his experience with other betting aspirants like you. Know more at about us page.