5 Tips for bankroll management in sport bettings

Bankroll management in sports betting is one of the key skills needed to become a professional player and win rewards from casinos online. Read the blog article below to learn how to control your money best. With these 5 “golden methods,” MNLWIN is confident you will become a true expert.

What is the bankroll management in sport bettings? 

Bankroll management in sport bettings means deciding how to split your total betting amount into different bets. Depending on how much money you have, you should choose the right betting strategy.

Good money management aims to keep playing for a long time, whenever you want. In other words, you’ll always have enough money to bet when there’s a good game or a great betting opportunity. For many people who don’t bet, betting seems like the quickest way to lose money. However, if you know how to use your money wisely, you can avoid these big losses.

5 Tips for bankroll management in sport bettings

Only some people know how to do it effectively, even if you have been betting for a long time. Here are 5 tips for managing your money wisely when you bet.

Using the 5/3/2 Formula

With this formula, you need to know your monthly income. It will be divided into 10 equal parts, called “x,” and grouped into 3 categories.

• The first group is 5x: Essential living expenses, such as rent and bills, are necessary costs that you must pay every month.
• The second group is 3x: It’s for personal expenses, like shopping, meeting friends, and entertainment. Betting money comes from this group.
• The third group is 2x: The money is used for saving and investment.

Only use 1/2 or 1/3 of the second group to manage your betting money. Your betting budget should be x or at most 2x per month. You need to be strict with yourself to stick to this rule. This way, betting will remain enjoyable and not affect your daily life.

Divide Money into Several Parts

Once you know how much money you have for betting, you should divide it into several parts. This helps you place multiple bets and increase your chances of winning.

For example, if you have P100 to bet, divide it into 10 parts. Since you have the most experience with 1×2 bets, set aside 5 parts for these bets. 

Since over/under bets are easier than Asian bets, use 3 parts. The remaining 2 parts are for handicap bets.

For the 5 parts used for 1×2 bets, choose games with lots of information and use 3 parts of your money. The methods help make better predictions and win more often. Use the other 2 parts for different games.

Don’t bet all your money on a game

A common mistake for many new bettors is placing too many bets on one game. This usually happens because they have some information and feel confident in their predictions.

Placing multiple bets in hopes of winning big can be risky. If your predictions are correct, you could save money. Many beginners have lost almost all their money after just a few games.

You should only choose one or two bets you feel confident about for each game. Stick to these bets and ignore other betting options, even if they seem good/

Increase bets when you’re winning

Even if you have a betting plan, you can still adjust to increase your profits when you’re on a winning streak. For example, if you’re winning consistently, you might want to increase bets.

However, increasing your bets should be done carefully. Experienced bettors suggest:

• Money grows by 1.5 times, increasing bets by 20%.
• Money doubles; you can increase it by 50%.
• Money grows by 2.5 times; you can increase by 70%.
• Money triples, you can double your bet.

But this is the maximum limit. Even if you win more, you should only bet up to double the initial amount. Remember, luck has its limits, and it’s important to remember this.

Martingale Betting Method

The Martingale method (doubling your bet) is very popular in online sports betting today. To use it, you need a large amount of money. This method has the advantage of helping reduce risk when you lose bets and has the potential to recover large amounts of money.

After each loss, you double the amount you bet from the previous round and keep repeating this until you win.

For example:

• Round 1: Bet P100. If you win, keep betting P100. If you lose, bet P200 next.
• Round 2: Win with P200. Go back to the initial bet of P100. If you lose with P200, then bet P400 next.
• Round 3: Win with P400. Go back to the initial bet of P100. If you lose with P400, then bet P800 next.

Putting Bankroll management in practice! 

Implementing these five tips for managing your betting money can transform you into a more skilled sports bettor. These strategies will help you allocate your funds wisely, prevent significant losses, and make more informed bets. By adhering to these guidelines, you can enjoy a longer and more entertaining betting experience.

Keep in mind, betting wisely is more crucial than betting large amounts. Although these tips do not ensure wins, they will guide you towards playing safer and smarter. Why not give them a try on your next bet? Best of luck!

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