A lot of legal sports betting guides will always tell you to gamble responsibly. What exactly does this mean? As a sports bettor, you are free to place as many wagers as you want, and you can bet whatever amount until you hit the limits your sportsbook sets. But just because you can, it doesn’t mean you should. Learning how to save money seems too serious, but trust us, you will want to hear what we have to say.
The key to having a successful sports betting career is to know how and what to bet on, and to pace yourself. Earning money from sports betting won’t happen overnight. It takes years to gain the experience and wisdom to be good in sports betting. Even then, you won’t win 100% of the time, although you can definitely win more money from betting wisely. But the fun and excitement of betting should not get you bankrupt.
How To Save Money
A pay per head bookie will sometimes see gamblers flame out early on. This is mostly because some gamblers tend to bet all of what they have in a single game, or a single player. While the winnings can be big, the loss is also bad. Bookies tend to set limits to help make the sportsbooks manageable, and to protect players from this. But some will still push through by going to multiple sportsbooks and betting in one game. And when they lose, they are good as gone.
This is why bookies always warn their players to pace themselves. Surely, its not a bookie’s job to dictate your wagers, or to police your gambling activities. But bookies want players to be in their sportsbooks for the long-term. And this is what your goal as bettor should be. Which is why the first thing we will tell you, is to pace yourself.
Bankroll
A bankroll is basically your budget, or operating expense for a certain period of time. For example, Bettor A wants to set aside $20,000 for the NBA regular Season, while Bettor B wants to set aside $2,000 for December alone. Both are acceptable options, and this means that regardless of how many wagers they make, they should not spend more than $20,000.
Let’s say Bettor A sets aside $20,000 for the NBA regular season. There are 1,230 games each season. If a bettor wants to place a bet on every single game of the season, then this averages a wager of $15.62 per game. This is an acceptable option. The bettor also has the option to just bet on his favorite team, and each team plays 82 games. This means, he can bet $243.90 per game. Again, this is an acceptable option. Or, he could just wing it, and place bets whenever, so long as he does not exceed $20,000.
Meanwhile, Bettor B is allotting $20,000 for the month of December. He could bet on any sports event, and game, or player, as long as he limits himself to $20,000 for the month. He can choose to divide the amount per sport, or even per week.
Committing to Your Bankroll
Both of their strategies are fine. This is, after all, a conversation about your budget for betting. It’s the same as budgeting for your monthly expenses, and you also need to stick to it. Your bookie can help you set limits if you think you will need help doing this. Otherwise, any gambler is free to set his own bankroll and spend it however he wishes to.
By doing this, you are actually helping yourself to be responsible with spending. It can be easy to get carried away by the excitement and the rush of betting and winning. As mentioned earlier, you can talk to your bookie to help you. Bookies can set a maximum limit on your wagers, which can be adjusted any time. A lot of bookie pay per head reviews actually focus on the ability of the bookie to adjust and personalize their players’ experience. Whatever amount you choose to bankroll, make sure you stick to it or risk spending money you cannot afford to lose.
