Even with the best Tipsters on your side, you’re still bound to incur losses at some stage. That’s why you need to keep your gambling sensible.
Nothing is a guaranteed winner even if someone claims it to be, that is why you need to give more thought to the entire betting process.
The odds are never in your favour but are in the favour of Bookmakers, so be ready to lose some in order to gain some!
Staying Sensible
If you’re betting on matches without doing any research beforehand it is time to stop and think about what you’re doing. Following anyone religiously in betting is a sure way to defeat.
That’s because there are so many opinions out there that being a sheep isn’t going to help you outshine the rest.
So make sure you back up your decisions with thorough research.
Why research brings better results:
- Understand the risks, you could lose what you gamble
- You can learn better from your losses
- You can make more logical decisions, avoiding emotional betting and chasing losses
Taking someone’s word or betting blindly is dangerous and can lead to huge problems. It’s fine to research information from a trusted source and using that information when you’re evaluating your bets but its a downhill ride to blindly follow your friends and families advice. That’s why researching is important!
Have an exit plan
As well as setting up a bankroll you should also look into creating stop losses. This is popular with stock trading but you can use this method to limit your losses in sports gambling.
Set a limit on how much you can lose each day, it could be £5 to £100 depending on your bankroll. Stick to this stop loss and you can easily avoid chasing losses.
The best way to recover from the daily stop losses is to have a long-term approach. Wait for the right opportunities and slowly you can build up your profits. Don’t go all in, that is why stop losses are extremely important. Stick to them and you can avoid losing your entire bankroll in an all or nothing gamble.
Take a break to reflect
Taking a step back from gambling from time to time is completely okay. It is much better than chases losses or getting too tied up emotionally. If you’re on tilt or had a series of wins your mentality might be distorted. If you feel that you can’t take a few days off, you might be addicted so make sure that you’re in the right mindset.
Only risk what you can afford to lose
That’s rule number one of gambling. In order to make money, there is always an element of risk, so if your bets are too low then you are not going to make a life-changing amount, however, on the flipside gambling away everything you need isn’t smart either.
You must be prepared that every bet you place could be lost. You can’t be mentally prepared if you need that money desperately because if you do lose you’re going to become extremely stressed.
When you lose a bet it shouldn’t be a serious issue, so it’s extremely important to only risk what you can afford to lose, otherwise, you will be too emotionally tied to your bets and are very likely to go on a losing spree.
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