How to Bet On Sports > Bankroll Management
Many sports bettors simply focus on betting systems and strategies that will be profitable. After all, without a good betting system, we won’t make any money, right? The same thing can be said about money management.
If you don’t properly manage your bankroll, you might not be able to take that next step to becoming a successful sports investor. Employing a good, consistent sports betting bankroll management system will reduce the chances of extreme losses and help turn a hobby into an investment.
In the world of finance, many professionals use the phrase risk management and money management interchangeably. What are we trying to do when we focus on money management? Simply, we’re trying to manage our money to minimize the chances for loss and, more specifically, minimize our risk of going broke.
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Betting Unit Size – Learn what percentage of your sports betting bankroll you should risk for every wager in order to maximize value and reduce your risk of going broke.
Sports Betting Style – Should you alter the size of your wagers depending on your past wins and losses?