Correct betting money management strategy can often prove the difference between winning and losing, and we cannot emphasise enough the importance of what you are about to read. It is ultimately up to individual bettors to make the final decision, but the following guidelines should help novice punters improve their winning chances.
1. Determine your bankroll size
A simple way to avoid developing a gambling addiction is never to bet more money than you can afford to lose, and with that in mind, it is essential that you establish a bankroll, or the amount of money you plan to use for betting purposes. You can obviously add any cash from winning bets to the bankroll, but try and avoid spending more money on wagers than you initially planned to.
2. Always use the same stake
It is never a good idea to increase your stake in an attempt to chase your losses or decrease it when things are going well, since that can prove detrimental to your winning chances in the long run. You should rather wager the same amount of money whatever happens, and and the easiest way to determine your standard bet size is to make it say 5% of your total bankroll.
3. Place single bets
Amateur bettors and those that cannot afford higher stakes tend to prefer placing accumulator bets, which is no surprise given that these can award substantial wins if your predictions prove correct. However, if you want to stand any chance of success, singles should be the way to go. Finding a good value wager is not the easiest thing, but if you can locate several of these a couple of times per week, you will be one step closer to turning a profit.
4. Ensure your bets are placed at the highest odds
The only way to do this is to register accounts with numerous bookmakers, preferably those whose odds tend to be among the best in business. In doing so you will have seriously improved your chances of success, and if you also follow the aforementioned guidelines, you could be one of just a handful of online bettors who are able to consistently place winning bets.