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Tips for proper money management

I will present some useful tips for proper money management to help you earn more in the long run.

Do not copy another person’s management system

It is important to have your own money management and not copy another person’s. Why? Unlike betting strategies that follow fixed rules, money management is much more volatile and should be much more influenced by your way of betting. Each bet is unique in its own way: some have a more consistent budget, others have a smaller budget. Some want to take a higher risk by targeting a quick profit, others prefer to play it safer and think longer term. Some focus on smaller odds, while others play higher odds or even multi-match tickets. And the examples can continue. It is important to choose a money management system that you are comfortable with and which suits you; there is no ideal system because if it were there they would all use it.

Don’t deviate from the initial rules

In theory, it sounds nice to have a fixed betting budget, a clear betting plan and so on. Many bettors are initially excited about this idea, only that many of them after a series of losing bets get upset and deviate from the initial plan by starting to play chaotic. When you get into such situations, remember that this is exactly why you adopted money management: to bet organized. So if you’re nervous about stopping for the moment, take a break and come back the next day with fresh strength.

Keep a book of bets

Why is it good to keep a betting journal? It will be easier for you to respect the original plan and not deviate from it because you will keep track of the bets played and the profit/loss, plus you will see what went wrong and what you can improve.