If you want to be a successful sports bettor, here is one of the best sports betting advice anyone will ever give you: manage your bankroll responsibly. What does that mean? It means that you only set aside an amount for betting that you can afford to lose without sacrificing money that you would need to pay for basic necessities such as food and rent. It also means that you allocate your money well so that you can ride out losing streaks (and there will be many) until they end and you start winning again. Remember that on average, you will lose around half of your bets.
One aspect of responsible bankroll management, which most sports bettors neglect, is to set the size of their bet relative to the size of their bankroll and stick to it. It can be tempting to bet large amounts, especially if you’re winning but you have to resist this temptation as it is a sure road to bankruptcy, particularly if you are a serious sports bettor who wants to continue making money in the long term.
Most experts advise bettors to bet no more than 2% to 3% of their total bankroll per wager and never more than 5% on any game in which you are offered even odds. If you follow this strategy, you are sure to make money in the long-term.
Of course, if you want to be a serious sports bettor, you also have to treat it as if it were your job. Constantly do your homework and monitor the teams that you are betting on. Be on the lookout for developments which could affect their performance, while not forgetting to study the fundamentals such as their strengths and weaknesses as a team and as individual players. And of course, you should never bet when you’ve been drinking, a common mistake many sports bettors make. Intoxication can hamper your judgment, leading you to make bad bets and lose money. Remember that most sports books make their money from bettors who are not disciplined – so don’t be one of them. Play responsibly and with discipline, and you’re sure to make money from sports betting.
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