Keeping your head – The most important part of keeping your money
Betting can be a lot of fun, but if you are in it to make some money then you should start treating it as a business rather than a game (though having a smaller bank for fun bets is still a good idea).
It is very easy to lose your head when betting, we have all had moments when your well researched top picks don’t come in and you are left with a hole in your betting bank.
Make sure you follow a good money management system.
Money management is key to making and keeping your winnings. Find the money management strategy that best suits you and your budget and then make sure you stick to it.
Never bet with money you can’t afford to lose
In the words of many a country and western song – You will lose your home, wife, kids and dog. Don’t take the risk, no matter how good a bet seems.
Don’t bet on sports you don’t understand
Most people know one or two sports very well, stick to these, or at least make sure you fully get to grips with the rules of a new sport before risking your hard earned cash.
Read the market rules
Does the football match include extra time, penalties? How many horses are included in a place market? Don’t put your money down until you find out because you could be in for a shock if you don’t.
Don’t bet when you have had a drink
It is very easy to miscalculate and get over confident when you have had a drink. Never ever visit a betting site with anything other than your separate fun betting fund when you are under the influence of alcohol.
Don’t chase your losses
After a series of losing bets it is common for all sorts of strange betting opportunities to start jumping out. Bets that you would never usually consider suddenly start appealing to you. Don’t do it, it is a sure fire way to get yourself deeper into the brown stuff.
Always look for value
Always look for value odds, it is the best way to make sure your money grows.
Don’t get too greedy
It is human nature to want more, but be careful not to let greed cloud your head and lead you away from the betting rules you have set for yourself. Resign yourself to the fact that growing your bank will take time.
Open a second betting account if you want to keep a ‘Fun’ betting fund
Why not open a second account and make the most of the sign up offers to keep your fun money away from your betting bank.
