Let’s be honest when you start in sports betting the first thing that usually happens to you, sooner rather than later, is that you lose your entire bankroll. That is, you lose all your money because you never thought about how to manage your bankroll. You got overextended and your betting budget vanished faster than your hopes of one day being a professional footballer. That’s a pretty shitty moment, but you learn the most from bad moments and when you run out of bankroll you have some great lessons to learn.
Review your strategy, if you have one
You don’t need a Nobel Prize to come to the conclusion that if you’ve lost all your money, you’re doing something wrong. If you are following a strategy it is time to analyse what has happened to cause you to lose your bankroll. Maybe the strategy is a failure or maybe you did it wrong, whatever it is you have to analyse it to find out what happened. On the other hand, if you don’t have a strategy, the problem will be that without a plan, sports betting will be more difficult than a Sunday with a hangover in the middle of August and without air conditioning.
Don’t rush it again
Who are you kidding, you and I both know that you got into this situation because you thought you were going to win a fortune in two days betting on crazy predictions. It’s a pity that nobody told you before that this plan had more cracks than a house in the epicentre of an earthquake. The good thing is that after this you will think twice about every bet you make and if you don’t do it, either you have too much money, or you like to lose it, or you just don’t like sports betting.
You haven’t looked at much data
And you know it! Because if data and statistics were your best friends you would hardly have reached this situation. Or else, swear to me on your PlayStation that you haven’t bet most of the time on impulse without looking at a single statistic. Less following your instincts and more starting to look at data on, your mind plays tricks on you more than you think and stats are the only thing you can really trust.
Diversify your bets
Let’s say that betting only on Barça or Real Madrid is not the best plan to make money. In fact, that’s probably why you’re reading this article. The betting world is full of teams, markets and leagues, and you’re just betting on a couple of teams and always on 1X2. If you want to make some money betting, you’d better know all the different types of bets and also follow a few tips, believe me, they will help you a lot.
You should have calculated the stake and you know it
If you don’t even know what a stake is then I can see why you are reading this. Basically the Stake is the degree of confidence you have in a bet and that is going to become the budget of your bankroll that you are going to allocate. Stake is from 1 to 10, with 1 being the minimum confidence and 10 being the maximum. Now that you know what you can read here how to calculate it well to start making money.