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What is money management

Well, in short, it is the key to success, but this answer will not tell you who knows what. Specifically, we can say that it refers to the correct management of money for sports betting, so that you can bet calculated, avoid major and frequent losses, and after certain lost bets you have the opportunity to recover money. Basically, money management is about having a clear pre-determined betting plan so you don’t have to chaotic bets: this means having a well-established budget and knowing exactly how much you will bet on each bet depending on the given situation.

The advantages of money management

It is very important to know how much to bet on a particular event, depending on the odds offered by the bookmaker for that bet, based on the total amount available, depending on the match analysis made by you or read by professionals, and not – finally, according to the initial plan. Equally important is that the betting budget should be set from the beginning, and be one that you allow yourself: this means not taking the money for other important expenses (food, maintenance, rent money, etc.).

By establishing these things from the beginning you will no longer bet on chaos, you will no longer make the wrong decisions based on the experiences of the moment (like the recovery game), you will not get into situations without exit (like the bet on debt), and obviously this can only bring you long-term benefits.

One thing is important to note: you must also be able to abide by an initial plan, that in vain you apply everything I wrote above if after 3-4 losing bets you get annoyed and forget everything you initially set out to start playing.

What is a bankroll?

And if we have already talked about allocating a fixed amount to bets, it should be noted that the starting money (necessary for any serious “money management”) is called “bankroll”. As you’ve probably already figured out, this is the amount of money we invest in bets. There is an old saying that we should never bet more than we allow ourselves to lose. Thus the start bankroll must be represented by an amount that we will not miss in the case of poor results.

The link between bankroll and money management

The amount we place on each bet should have two main aspects: the start bankroll we have available and how much we are willing to risk. Suppose we want to play on each bet a certain percentage of the bankroll.

If we have a substantial bankroll it is advisable not to bet more than 5-10% of it on each bet. But if the bankroll is smaller then we can bet 20-25%. Some professional bettors bet only 2-5% of the bankroll on each bet, while the bets who want to risk will bet even more than 25% of the bankroll on a single match (not recommended). It basically matters how much money you have available and how much you are willing to risk. Also, the amount bet on each bet should be influenced not only by the confidence you have in that forecast but also by the odds of that event. These tips apply when betting without following a sports betting strategy.