| For managing money when betting on football, you | | | | consecutive losses is a reasonable goal to set. If you |
| really need a lot of patience and focus. Following are | | | | have reached your losing limit, then there is no use to |
| some tips on money management: | | | | stay and lose more. Just quit and take a break and |
| 1.Bank Roll: You need to establish a bankroll with small | | | | never try to chase losses. |
| amount of money and later allow it to flourish gradually. | | | | 4. Limit of the Bankroll: Do not risk more than 25% of |
| Have a plan on how to establish the bankroll and how | | | | your bankroll, even if there is a reduction in your bet |
| much amount of money is required in the bankroll. | | | | amount. |
| 2 Betting Stake Unit: If you are a beginner, then it is | | | | 5. Stick to a Bet Plan: To win money, you need to stick |
| good to have 1% bet unit of the bankroll. For instance, | | | | to a single football betting plan on a particular game. |
| with a bankroll of £150 your bet unit becomes | | | | Bet only after you gain through knowledge about |
| £15 (£150 x 0.1 = £15). If you are an | | | | every possible odd. |
| aggressive punter, you may have your bet unit as 2% | | | | Final Step: |
| of your bankroll which comes out to be £30 | | | | Try to find out what type of punter you are to choose |
| with the above-mentioned example. Whatever the | | | | the right type of money management system. For |
| type of betting style you opt for, it is always better to | | | | instance, if you are a high-risk punter, then Martingale is |
| have the betting units low, as this reduces the risk of | | | | the best money management system for you. |
| losing, throughout the betting session. | | | | However, you really need to take care about your |
| 3.Time to Quit: It is important to set a winning goal and | | | | bankroll, since Martingale is a high-risk system. |
| a losing limit for the betting session. This is important, | | | | If you are a low risk punter, then Kelly Criteria is the |
| since it will help you to maintain control over your | | | | best-suited money management system for you. |
| betting habits. Set reasonable amounts that you may | | | | Finally, have patience and focus for an overall winning |
| afford to lose. For instance, a loss limit of five | | | | football betting exchange experience. |