Sports betting is not just another form of online gambling. It’s something that takes time to develop a true appreciation for, or at least a sense of ingenuity and unremitting success. Every triumphant professional got their start somewhere, and establishing a sports betting bankroll to build upon will be yours.
Establishing a Bankroll
You’ll first have to establish a betting bankroll. Start saving up, setting aside extra funds for your initial bankroll until you have accumulated a decent starting bankroll.
It’s not enough to save up just the amount you want to place on your first wager. You should have at least enough to place 20-30 equal wagers before you ever place your first sports bet. We’ll discuss why more detail in a moment.
For obvious reasons, you should never, ever use funds that were meant to go elsewhere to place sports bets. If you only have half of the mortgage payment, don’t wager it hoping to win the other half. Don’t use bill money, gas money, grocery money, you get the point! Your gambling funds should always be separate from household cash.
Building your Bankroll
Now comes the really important part. Don’t make stupid bets! If you have a favorite team, don’t bet on them just because your heart tells you they can pull it off. Take your time and make educated decisions. If you can’t bear to bet against your favorite team when they are the underdog, look for a good point spread, or avoid the contest altogether.
We mentioned above that your starting bankroll should be enough to span 20-30 wagers. This is because you simply can’t expect to win every bet, no matter how favourable those bets seem at the time. If you wager your entire bankroll on the first bet and lose, you’re more likely to give up on sports betting altogether.
If, however, you make several educated bets, you can expect a better hit-rate. Try taking the advice of a reliable handicapper. A good handicapper will have a better rate of accurate predictions than someone just starting out.
Each sport has a betting structure and quirks that will set it apart from other sports. With a little disciplined bankroll management, a lot of study to find your edge and a bit of luck, sports betting can earn a solid living for the pro and a nice side income for the casual bettor who does his homework. At the very least, it will keep you on the edge of your seat as you watch the games that you have wagered on!
Building a sports betting bankroll is a long term goal. By taking it slow and divvying up your bankroll wisely, you should be seeing more wins than losses suffered. Over time, your bankroll will continue to grow. Keep this mindset throughout your online sports betting experience and you should have no problem maintaining a lucrative account!