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Sportsbook 201: New Money Management Tips

Sportsbook 201: New Money Management Tips

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There’s no doubt that TopBet offers the best odds and lines for the world’s largest and most-popular sporting events. While the intense sports-betting action can get you on a wagering high, it’s always best to be aware and cautious with the risks that you take.

Here are a few tips that are definitely worth practicing to optimize your online-sports-betting experience.


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TopBet’s Tips for Better Money Management

1. For beginners, starting out with a fixed budget and bankroll is key. during your first week or so of wagering action, don’t expect to be on the winning end right away, and don’t let those losses get to your head. Stick to your weekly or daily budget and continue doing so until you start winning more bets and get more comfortable with your decisions and predictions. What’s just as important is that you do not put all your eggs into one basket, meaning don’t bet everything that you’ve got on a single team or sporting event. Get acquainted with other teams, sports and events to maximize your bankroll and chances of winning in the long run.

2. Don’t jump right out of the gates with massive bets. Instead, keep your bets to a reasonable amount before you test the waters of larger bets. And once you do win a rather significant amount, don’t jack up the stakes instantaneously in hopes of an even larger payout. You must first read up on the sports, teams and players that you want to bet on during a particular timeframe to make sure that your odds of winning will increase with more careful analysis and decision-making.

3. Learn to differentiate your betting expectations with realistic outcomes. You’re actually in good shape if you win more than half of the bets that you made, so don’t expect that just because you’re on a roll that your winning percentage will shoot up to about 70 percent in a flash. Patience and pacing are key traits of a good sports bettor, and it’s always advised to walk away a winner while you’re still ahead.

4. In the event that you find your bankroll to be in a significant loss, don’t attempt to chase said loss by making more huge wagers in an attempt to bring your bankroll back up to at least an even keel. Again, patience and knowledge makes for a great bettor; learn from your mistakes and adjust accordingly with reasonable bets to see if that next plan of action will indeed pay off. Never try to one-up your previous bet if you’re on the losing end, as you just might find yourself in a larger hole than what you started out with.

5. There’s always more factors to consider in a particular sport than meets the eye. Apart from knowing players and team records, you may want to dig deeper in a given event’s matchup to increase your chance of winning. Is a key player benched because of an injury? How’s the weather forecast on game-day? Are these two atheletes or teams heated rivals? These are just some good examples of questions you want to ask yourself before locking in your bet.

6. Once you’ve mastered betting on a particular sport, you may then want to develop your wagering skills by taking on other sporting events. If the NFL is making your a sweet weekly profit, why not have a crack at some MLB, NBA or even NHL action to spice up your expand your winning opportunities? And if you’ve already gotten a hang of all the major sporting events’ ins and outs, check out some parlay propositions or maybe even test the waters of other equally-exciting yet often-overlooked sporting events like golf and tennis. Just remember to do your homework and pace your bets properly before diving right into a new sports-betting endeavor.

Now that you’re all set and armed with these bits of knowledge, why not try your hand on some NFL betting action this instant and right before the regular season kicks off?

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Mark
Written by Mark

Sports Betting Tips, News, and Analysis