5 Money Management Tips every Sports Bettor needs to know


People love to spend money on things they need and are important for human survival and things they do not need but want to have in their life anyway. Do you ever question yourself like “why did i bought this thing, I never used it”? Most of our habits of spending money on things that are not necessarily essential happen automatically and cause great trouble and harm our budget. We live in a world where we are tempted to spend money and buy different products every day. Over time, it often happens that a few days after receiving the salary, we spend all our resources and wonder what we will do in the rest of the month, how we will survive. We must not blame anyone else for this problem, we are the only ones to blame for this situation. Why is it our fault you wonder? Because we do not know how to manage financial resources.

In the continuation of the text, we will talk more about how successful bookmakers succeed to manage their money. What tips and tricks do they use in sports betting?


Successful bookmakers have developed their betting strategies over the years, defining goals that they fully adhere to. They see betting more as fun, they do not allow themselves to be fully committed to this activity. Just like in some professions, to be successful, you need to dedicate yourself to a certain field and invest your work and effort only there. So it is with betting, to be successful you need to choose which sport you will bet on, which sport you will follow. That way you will concentrate in a certain sport such as football, you will know all the information and results you will simply specialize in that sport and thus you will increase your chances of winning. The golden rule for bookmakers is not to gamble with money you are not ready to lose. Every professional bookmaker pre-determines the amount he plans to play with, he must not allow himself to exceed that amount.

Now let’s move on to the main thing, ie the tips I promised you so that you know how to better manage the money you invest in betting. I will list 5 tips, here are they:

  1. Do not allow yourself to bet too often. Sometimes betting can be very addictive, you will have that uncomfortable feeling that you have to bet on a game today, regardless of the price you will pay at the end. Maybe your favorite team is playing and you think it will win and you think why not bet, you will win and make some money. Do not get into the habit of spending your money on a bookmaker every day. Keep this activity as a hobby and use it exclusively for fun.
  2. Use the double bet betting system. This is one of the most popular systems to help you manage your budget easily. What is the double bet? I will give you an example. You bet $ 2 a double bet and you bet Arsenal will beat Manchester United at 4/1 and Tottenham will beat Liverpool at 2/1. The odds for the double bet will be 4/1 x 2/1 = 14/1. If the stake is added to each part of the bet it would look like this
    $ 5 @ 4/1 = $ 20 winnings + $ 5 stake = $ 25;
    $ 25 @ 2/1 = $ 50 winnings + $ 25 stake = $ 75.
    If Arsenal and Tottenham win the matches then you get the money and the bet is successful.
  3. You bet only on a smaller amount of money, try to bet at the very minimum amount. Be smart and determine the amount of your bet yourself. The best way to easily track bets, winnings, and losses is to set the maximum amount of money per bet that is determined depending on the security of the match. For example, your biggest bet is 10 dollars and the football match is certainly won 70%, then your bet should be 7/10 or 7 dollars.
  4. Some of the online bookmakers offer an initial deposit that you get if you register on their site. Maya Lounge, for example, offers a deposit of a modest amount of 300 Thai baht, which if you convert them is about 9.62 in American dollars, which you can use to place bets on sporting events, you can play roulette online, play slots machines, they even have the online lottery. All you have to do is place an order on their website. This is a great way to leave your home budget untouched.
  5. Use as little of your finances as possible to bet on sports events, let your bets be limited. As much as you are familiar with the history of football clubs and the way their players play, with that knowledge you do not influence the end of the games. Here you depend on your happiness, and as a weapon can serve you detailed analysis, assumption, or intuition. If your bet is limited, even if the game does not end properly and your bet is not won, it can save you from eventually losing big money.

I hope some of these tips will help you save at least some of the money you may lose in the future, and help you better manage them when it comes to betting on a sports match. Remember that you can not make money overnight, but even the biggest millionaires and billionaires in the world did not become what they are today, overnight. Try not to become addicted to betting activities, as they can have a very big negative impact on you. Excessive spending on your budget can impoverish you, and cause you to start borrowing money from friends, relatives, banks, and get into big debt. Educate yourself on gambling systems, give yourself enough time to analyze and choose the system that is most suitable for you and your budget. Try to rely on your luck and it is never too late to listen to your intuition.