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Sports Betting Money Management can be Challenging

When you like to place bets, you have to have a strategy for sports betting money management. It’s not enough to simply lay a wager whenever and however you feel like it. If you want it to be anything more than a passing hobby, and if you want to be sure that you stay in the black, you need a strategy to guide your way.

In some ways, the old days made betting money management easier. The only way to place a bet was to be in direct contact with your local bookmaker, and the only way to pay was with cash. Cash in hand was preferred, and unless you were a gentleman it was often demanded. This placed natural limits on how much money was in play at any given moment, regardless of sport.

Then too the kinds of bets were simpler. Betting exchanges didn’t exist. If you’d told the bookie down at the horse track that someday his number one competitor was going to be an internet casino on the Isle of Man he’d have looked at you as though you’d sprouted three heads. These days its simply reality.

The flipside to that reality is that there are now so many different kinds of betting combinations that dedicated study is required to understand them all. Bets which seem simple on the surface can come back to really bite a chunk out of your pocketbook when you lose. There are also more opportunities for you to lose, with accumulators and other multiple bet card programs raising the stakes even as the odds get long.

In the heat of the moment and the peak of the season, it’s easy to get carried away and over bet. Online bookmakers can play into this impulsiveness. You can literally bet the house while sitting in your living room at 4 in the morning, and there’s no one around to talk you out of it if you’re not making a wise decision.

Thus, before you ever open your first bookmakers account, you will want to sit down and consider your sports betting money management strategy. Have a good long thought about what you would do if you won it big on long odds next week. Then be realistic about your usual patterns of play, your profits or losses, and what you can really afford to do as you play the game. The better you manage, the better your profits online and offline will be.

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