Skip to content

Money Management Basics For Sports Bettors

For sports betting enthusiasts, money management is an important factor – and one that often means the difference between winning and giving up.

While it’s an exciting thing to win a bet, every experienced sports bettor knows that it’s impossible to always “get it right”. No matter how astute a punter you are, nobody wins all the time. It’s simply part of the game.

The secret to success in spread betting is to play the long game, i.e. be in it for the long run. There will be misfortune along the way, but there will also be amazing successes.

This is why money management is crucial, and even more so when betting the spread than with fixed-odds betting.

Don’t Bet When Out Of Pocket

Bettors and players at online and mobile casinos should only ever wager with money they can afford to lose. It truly is as simple as that.

There’s no use going all in with housekeeping or mortgage money. But this shouldn’t be a cause for alarm or a reason to give up what you love doing. In fact, the best way to avoid losing all your money is to know how to manage it in the first place. And the good news is anybody can learn how.

The golden rule when beating the spread (or any type of sports betting, for that matter) is to keep your betting money separate from your everyday finances. Keeping the two separated has many benefits, including avoiding confusion and having a visible way to track what you’re doing.

Keep A Record Of Your Bets

Keeping a record of your bets requires discipline and a willingness to accept that you won’t be winning all the time.

Even though writing up a losing streak can be a painful experience, the benefits of doing this are more than worth the temporary discomfort.

The thing about gamblers and bettors is that the psyche has a habit of remembering only the big wins and sweeping the losses under the carpet. For this reason, keeping track of your bets (both winning and losing) can be a sobering eye-opener, and will even help you to improve and up your betting game.

Learn How To Choose Your Markets

It’s true: some markets are much more volatile than others.

For example, if the opening quote is for three goals, then the worst-case scenario will be around eight. This must be kept in mind when managing your spendable money.

Luckily, calculating a market’s volatility is usually quite straightforward. To illustrate, a rugby team isn’t likely to win by more than 40 points, just as a team competing in a One Day cricket match is unlikely to score above 300.

Logic is a sports bettor’s best friend.

Winning Is A Long-Term Thing

Losing or winning a single bet doesn’t mean much. While this is good news, it is important to realise that blowing “it all” on a single bet means the end of the fun.

With so many wonderful options on offer, it’s easy to get carried away. But the true winners are those who realise that being in the game over the long run remains the best chance at success and sustained enjoyability.

Published inBetting insights
Copyright Stoopid Pigeon 2023