Many sports gamblers focus their efforts on betting strategies and systems that promote high chances of winning. After all, these are the aspects that make sports betting enjoyable, exciting, and profitable. However, disregard proper money management, and you might find yourself losing more than initially intended.
With good money management techniques, it’ll reduce the chances of accruing extreme losses. Furthermore, it can even aid in turning a “hobby” into a prime investment. Betting on different sports contenders is a type of risk, and learning how to manage said risk is to aid you in minimizing loss while preserving our hard-earned capital. Here are some good money management practices you might want to check out if you want to safeguard your cash from extreme losses.
What Type of Investor Are You?
Before anything else, check what type of investor are you; are you a novice or an experienced individual in managing financial risks, or are you a conservative or aggressive investor? The answers to these questions will help determine the typical size of your bet. In the world of sports gambling, this will be your “unit” size. It’s recommended for a sports investor to only wager 1% to 3% of their subsidy per bet. In doing so, and if by any chance that your preferred contender loses, then you’re not going to lose a lot of your hard-earned savings.
Know and Understand Flat Betting
Flat betting means to wager the same amount every time. Increasing, or otherwise known as “chasing” a particular bet size is not a recommended move for beginners and experienced investors alike. Perhaps you might hear some betting instructors to increase your bet size over time because they’ll “know” that you’ll eventually win over your losses sooner or letter. However, these “quick money schemes” generally don’t work, and it’ll increase the risk of streaks of extreme losses.
Know Your Risk Capital
A risk capital, which is also known as the “true” bankroll, is a sports investor’s long, hard look at the amount of money they’re allocating towards sports betting. Realizing your limitations can help you realize that perhaps only 1% or 2% of your risk capital is sufficient per bet. Increasing your risk capital will also heighten the chances of major losses occurring.
Just because there’s a possibility that you’re going to win big bucks in sports betting sites like situs judi bola, it doesn’t mean that you should blow your entire savings on a single wagering session. It’s recommended to always play on the defensive side so that you can safeguard your valuable investments.