How To Manage Your Betting Money
Making money from gambling isn’t a short-term “Get rich quick scheme” and, if that’s what you’re looking for, this article isn’t for you!
However, if you’re looking to make a fair return on the money and time you invest in gambling, then the following strategy is something you may want to consider before embarking on your gambling journey.
It’s a strategy that involves setting achievable goals, being disciplined in regard to setting-up and maintaining a betting bank, managing your money, and following a proven system that allows you to make money in the long-term.
Setting Achievable Goals
Whatever proven system you follow, one of the most important statistics to look at is Return on Investment (ROI). This is the figure that shows you what percentage profit you can expect to make on all money you stake.
E.g. if you place 100 x £10 bets a year = £1,000, and your returns are £1,200, you have made a profit of £200 and a ROI of 20%.
ROI is a the figure you need to consider when setting your goal of how much you want to win and, if your aim is to win £1,000 in a year, then you know you have to invest £5,000 at an ROI of 20% to achieve this.
However, don’t worry, that doesn’t necessarily mean you need to have £5,000 to start with – and this is why it’s important to understand how a betting bank works.
The Betting Bank
Most professional punters maintain that you should start betting with a bank that is 50-times the size of the bets you place, and this is so you have enough money to cover the inevitable run of bad luck when it arrives, but still have plenty of money to bet with when your luck (or hard work as we like to call it) turns back in your favour.
Each month your betting bank will fluctuate up and down, but should never run out providing you follow a reliable system – and manage your money correctly.
Managing Your Money
Equally, if you want to follow two separate systems, then you must have two separate betting banks – as two runs of bad luck coinciding could cause problems.
You must also never use your betting bank for fun bets, days out at the races, or chasing losses if you’re going through one of those aforementioned runs of bad luck.
If your system is good – it will come good in the long run – and you’ve set yourself a long-term achievable goal – SO BE PATIENT!
Following A Proven System
You may have already devised your own proven system and, if you have, it’s important to constantly analyse your figures.
However, if you’re looking for a proven system to follow, then you should be looking for one that offers a consistent long-term ROI for the money and time you invest.
Here at Betting Gods we offer tipster services that have proven their ability to make annual profits – and you can see them all by clicking here.