6 Vital Money Management Tips for Football Betting

by The Gaffer, February 9th, 2023

People who want to turn their football betting hobbies into something more profitable need to look at it from a business perspective.

More often than not, gamblers forget that winning bets isn't the goal—gaining money is. In this post, we'll go over everything you should think about when it comes to optimizing the financial aspect of sports betting.

Let's have a look at some helpful football betting tips for managing your money.

Effective Money Management Tips for Football Betting

1. Keep a Dedicated Bankroll for Your Bets

This is a concept that many gamblers learn but most don't include it as part of their betting strategy. Although it is fundamental to delivering longer term returns. Set aside a specific amount of money that you are comfortable with. We recommend never setting aside more than you are willing to lose - another core principal of making better bets. From here, establish a strategy not to spend more than that amount on gambling in a set amount of time. This can be a week or a month.

It's all too easy to lose sight of your total winnings and losses when you're topping up your betting account every time you place a wager. Sticking to your budget is key to avoiding making emotional betting decisions - something you always want to avoid!

2. Determine your Unit Size

After you've allocated your bankroll, you should then choose what proportion of it you're willing to risk on each bet. It's recommended that sports bettors who are just starting should maintain their unit size between 1% and 5%.

On the other hand, if you're more of a conservative sports bettors, you should not go above more than 2% on each bet. Of course. if you are highly confident you may increase the unit size to 4% to 5% of your entire bankroll. It's all down to the individual.

We suggest the optimal unit size is for most people is 1% to 3% .This helps you to maintain discipline throughout. It's worth noting that professional sports bettors rarely bet more than 1% of their whole bankroll on any particular bet.

3. Stick to Your Total Betting Budget

If you're a casual sports bettor a crucial skill to master is not betting too! Even with an advanced data-driven tool such as DataVision Sport is worth remembering that no one can predict the future. What we are doing is providing recommendations based on probabilistic outcomes. It is always best to only gamble with what you are willing to lose.. Approaching your betting this way, it will always be more enjoyable.

Money-making aside, the goal is still to enjoy the sport and profit at the same time. It becomes a lot less fun when you're risking this month's rent to win big!

4. Maintain Strict Betting Records

Almost all online bookies provide access to records of all your bets - these can be manually entered into an excel spreadsheet. This is a very simple way for you to log all of your wagers easily and follow your progress.

Another advantage is that seeing your money increase will help keep your thoughts focused on sticking to your strategy. At the same time, any losses should also make you reassess your strategy and focus on lower-risk bets or lower your unite size.

5. Re-assess Your Bankroll Regularly

Sports betting, like the sports itself, is a highly dynamic activity. Throughout your football betting journey, you must regularly review your unit bet size. There may be times when you need to make modifications based on a recent form of poorer performance or how regularly you've been winning.

If you find yourself in a losing run (which will happen from time to time), reduce your unit size. It's never a good idea to raise your bet sizes in an attempt to recover your losses. Bet with your head, not with your heart.

6. Diversify Your Bets

There is wisdom in the old saying, "don't put all your eggs in one basket." When it comes to football betting, putting your eggs in only two or three baskets isn't the wisest approach, either!

People who make fewer but larger bets (e.g. football accumulator 'tips') generally do not want to put in the longer term effort and are only after the thrills of a 'punt', but these are not the kind of people that enjoy a considerable lifespan in the football betting market! Serious sports bettors gradually build up their bankroll by placing various smaller wagers.

Extra Time

To finish. proper financial management allows you to track your progress in a much more effective manner. You won't have to assume how much money you gained or lost in a particular week or month, instead you be more realistic and tweak your approach.

DataVision Sport is the home of value-based betting tips. We have one of the best in-class prediction algorithms to help inform your betting, and get an accurate football prediction on English football matches.

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