How to manage your sports betting funds?
To manage your sports betting funds, you should :
- Determine your monthly budget
- Evaluate your funds units
- Evaluate the confidence index of your bets
- Analyse the matches in depth
By respecting these four key points, you will surely manage your funds better with the bookmakers. More importantly, follow Sportytrader's expert advice!
Sports betting: How to manage your funds?
Here are the detailed points to respect in order to manage your funds for sports betting. Be careful as this is important to ensure reliable bets are made.
Determine your monthly budget
Obviously, as a first step, you have to decide how much money you would like to use on sports betting. To do this, and since we address that a funds is in fact a capital, it is advisable to determine your budget allocated to online betting each month.
There is no specific number for a monthly budget of sports betting in general. Depending on your available income, it varies from person to person, and it should never put your living expenses at risk.
As gambling addiction is a disease, you should avoid falling into the trap. Determine your budget according to your resources and never exceed it. To help you do this, don't forget that you can set your own monthly deposit limits with the bookmakers so there is no risk of spending beyond your means. Do not gamble money you cannot afford to lose.
As far as the amount of your funds is concerned, we advise you never to allocate more than 4-7% of your monthly income to sports betting. Although this ratio may vary according to your betting profile, it is often sufficient to start collecting considerable winnings from bookmakers.
How to calculate your sports betting funds?
Calculation of a moderate funds = 0.04 x net monthly income
Example: 0.04 x 1800 = £72
In short, a budget of £70 per month is therefore reasonable, when the net salary is £1800.
Calculation of a higher funds = 0.07 x net monthly income
Example : 0.07 x 1800 = £126
In short, a budget of £130 per month is acceptable when the net salary is £1800.
Evaluate your funds units
After evaluating your funds, another step will be vital is to evaluate your funds units. In other words, this means to divide your budget into units, so that you know at the moment how much money to place on a sports bet.
Generally, the total funds is estimated as 100 units, which are used gradually over weeks. If your funds is, for example, 150£ per month, each unit will be worth £1.50.
It is up to you to decide how many units you want to use for your bet. Generally, it is recommended that you use no more than 5 units for a bet, in order to avoid bankruptcy. In the example given here, the maximum stake per bet will therefore be £7.50, while the minimum bet will be £1.50. It’s to be determined in particular according to the confidence index of your bet.Collect your Bwin bonus now!
Evaluate the confidence index of your bets
When your funds is determined, and the amount of your units is known, you are ready to go to the bookmakers to bet. To know the amount to bet, you have to determine the risk, which is indicated by the confidence index.
|Confidence rating||Number of units to bet|
|1 out of 5 - Very High risk bet||1|
|2 out of 5 - High risk bet||2|
|3 out of 5 - Moderate bet||3|
|4 out of 5 - Possible winning bet||4|
|5 out of 5 - Good chance of being winning bet||5|
Using the table above, you can determine how much money is wise to place on your bet. To take the example of a funds of £150, i.e. £1.50 per unit, a bet with a confidence of 4 out of 5 could therefore see a bet of £6 placed, i.e. four units of £1.50.
Analyse the match in depth
Finally, the last key point is to analyse the event concerning your bet.
As we have just mentioned, in order to manage your funds properly, you will need to evaluate the confidence index of each bet. To do this, you will need to analyse in depth the context of the match concerned, whether it be the statistics, the psychological character or the strengths of each side of the field. Here are some points to look at systematically in order to determine the confidence index, let’s take a football match as an example:.
- Consult the current form of the teams
- Analyse the number of players
- Check to see if there will be any major absentees
- Take into account the importance of the match
- Take into account the rivalry between the teams
- Wait for the team line-up
- Follow the recent news of the two clubs
- Consult Sportytrader's prediction
By analysing all these points before betting, you will be able to determine an index of confidence that best fits the reality, and thus avoid betting too much on one bet. A reliable method to optimise the management of your funds. Is everything included? Then it's up to you!
More about Online Betting
- Sport Betting Advice : Our Comprehensive Guide
- How to start sports betting?
- How to make sports bets?
- How to win at sports betting?
- How do odds work in sports betting?
- How betting works?
- What is a good bet?
- How do I cancel a bet?
- How much to bet on your sports bets?
- What are the types of gamblers?
- What are the rules for sports betting?
- What are the essentials for sports betting?
- How to bet with online bookmakers?
- Who should you consult on sports betting?
- How to Gamble Responsibly On Sport?