The most important thing when betting and gambling is of course to always be responsible. The reason for this is quite obvious, you don’t wanna lose all your money. Another important is not to expect big wins at once, since this rarely happens. If you wanna build a good bankroll you have to be in it for the long run.
Take it slow at start
If you haven’t bet on sports before it’s a good idea to take it easy in the beginning and really learn how everything works. Maybe only betting with one or two pounds. This way you don’t have to be nervous about to outcome since not much is at stake.
Another good idea if you wanna learn how to bet smart is to check out a guide for online betting, especially if you are a beginner.
Do your research
When betting it’s important to do your research. Read up on the form of each team or player in the upcoming match you’re gonna bet on. How has each team performed in recent weeks? Are there going to be any players absent?
Statistics is one of your best friends when placing a bet, so be sure to use it well. Many betting sites have their own portals with statistics where you can find out pretty much anything about teams and players.
Only bet on things you know
Another important thing is to only bet on things you know anything about. If football is your favorite sport you should definitely bet on football. Same thing other way, if you have never watched basketball you should not bet on basketball.
Look for the best possible odds
It’s also a good idea to have not only one betting account but multiple accounts with different bookmakers. This way you have more choices available and are able to get the best possible odds when placing a bet.
Avoid these mistakes
When betting there a couple of mistakes you need to avoid in the order to be successful and don’t lose to much money.
• Never try to ”make up” for losses. If you just had a loss, it’s never a good idea to try to win back lost money by placing a bigger bet right after.
• Don’t bet on impulse and desperation. This is almost always a guarantee for loss.
Set a budget
As mentioned before it’s very important not to bet with too much money. To avoid this it could be good to set a budget for how much money you will bet with. This way it’s much easier to keep an eye on how much you bet with.
As you build up your bankroll you can of course increase your stakes. But one single stake should never be a significant part of the total bankroll. A good idea is to never gamble with more than 10 percent of your total bankroll during one single day.
Think long-term
Just like when investing in the stock market, don’t expect big wins immediately. Rather be prepared for both ups and downs and think long-term. If your goal is to build up your bankroll you have to be in it for the long run.
