Money Management in Betting on Sports

When betting on sports, it should come as no surprise to know that hundreds of bettors lose their bets on a regular basis. Don't you wonder why so many people lose despite the fact that sports betting provides them the best chances of winning? Some say that it is because of poor handicapping. While this can be true, I don't think that is the main reason that bettors lose so often. There are hundreds of folks that are expert handicappers who still lose their shirts year in and year out. The truth of the matter is, people lose betting on sports because of poor money management.

Too often we hear about people losing a lot of money betting on sports. Usually it's caused by the lack of discipline with regards to their bankroll. If you are serious about being successful while betting on sports, then it is crucial that you come up with a strategic plan and have the discipline to stick to it. As simple as it sounds, this is the reason why the majority of people fail when betting on sports.

What makes a good sport betting plans is as follows:

  • Only use money that you can afford to lose
  • Only bet a small percentage of your total bankroll ie 5%
  • If you increase your bankroll by 25% then you should recalculate your wagers
  • If you decrease your bankroll by 25% then you should recalculate your wagers
  • Follow a specific system
  • Stay focused
  • Stay disciplined and stick to the plan

Betting on sports can be a lot of fun, but for the majority of people it's a losing proposition. If you stick to some guidelines and control your bankroll, betting on sports can be a lucrative opportunity. Remember to stick to the plan and you should see much better results.

 

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