Managing Your Bankolll For Sportsbooks
Sports gambling has always been popular. But it has become even more so in recent years. You can't go one game without seeing an advertisement or commercial for a sportsbook. Announcers now routinely talk about gambling while they're calling the games. And with more states voting to legalize sports gambling, more players are able to get in on the action and experience the thrills and excitement that sports gambling brings. With this rise in popularity, a lot of players are getting into sports gambling for the first time. And because of that, they're eager to win big and experience the thrill of victory. But that rush to win and get in on the action can lead to some rash decisions when it comes to your bankroll. Today, we are going to take a closer look at managing your bankroll when it comes to sports gambling and sportsbooks, highlighting how making some smart decisions can take your sports gambling to the next level. Let's dive in!
Have a number and stick to it
This is no different than when you are sitting down for a regular gambling session. Give yourself a max amount you are taking into your sportsbook session and stick to it. Let's take an NFL Sunday for example. There are typical around 15 or 16 games each Sunday. That's a lot of games to bet on! If you go in with $100, you can easily spread that around to some different games, make some parlays, or go big and put it all on one game you like. But once that $100 is done, let that be it! There's a big difference with sports gambling and regular online casino gambling. And that's the time it takes. When you play slots for example, you are seeing results almost instantly. Sports gambling is not that fast. You need you wait for the games to play out before you know if you win or lose. It's easy to want to keep the action going and continue betting, but that's the easiest way to run up your deposit amounts.
Have patience. Wait for your bets to play out. If you hit some - great! You now have more ammo to play with. But if not, just accept it. Just like with regular online casino gambling - do not chase your losses! When you know you only have a certain amount to play with, it adds to the excitement! Never play with more than you can afford to lose. And if and when that amount is gone, it's time to walk away.
Don't put bets on games or sports you're not familiar with
When you log onto an online sportsbook you are likely to see dozens and dozens of games and sports available to bet on. It can be overwhelming but it can also be exciting. Cricket. Ping Pong. Horse racing. eSports. And that's on top of all the major professional sports like the NFL, NBA, MLB, NHL and all major European soccer leagues. With so many games and leagues to choose from, players might have the tendency to place as many bets as they can. But that's a huge mistake. Betting on sports or games you have no prior knowledge about is the quickest way to blowing through your bankroll. Sure, you might get lucky here and there, but at the end of the day you're basically betting blind. I don't know anything about professional cricket. Just because I have the option of gambling on it doesn't mean I should. Stick to the sports and teams you know and you'll extend your bankroll and be able to place bets on more games.
Keep your bets simple
Parlays are extremely popular with sports gambling. They are placing 2 or more bets on the same ticket. The more bets you have on your parlay the larger the payout. But in order to win a parlay, EVERY bet has to hit. Even just one losing bet will make your entire parlay a loser. That's why we suggest keeping your bets simple. Take single games, spread bets, money line bets. Keep it simple!
Now, we're not saying you shouldn't try parlays. You should! But having a 9 part parlay - even though the payout would be great - probably isn't going to hit. But have a 2 or 3 part parlay is much more likely to hit and still comes with a nice payout. The simpler you keep your bets, the more likely you are to hit on them which will extend your bankroll and keep you in on the action for longer.
A little research never hurt
A lot of players are quick to want to get in on the action. They think because they watch a few games here and there, they're a gambling pro and all their bets are going to hit. We hate to break it to you but that's probably not going to be the case. That's where a little research can go a long way. We're not talking hours and hours of research, but brushing up on a team or players can't hurt.
Let's take a football game for example. One team is a primarily passing team while the other is a primarily running team. And now let's say you check the weather for this game and see they'll be playing in some rain and wind. That's going to make it more difficult on the passing team so the smarter bet would be on the team that's better at running.
Or a baseball game. Let's say one team's starting pitcher is facing a team that has had success against him in the past. A bet on that team might be the smarter play here.
Examples like this don't take a lot of time but can help you extend your bankroll and even hit on some bets!
Sports gambling is extremely popular and it makes ordinary games even more exciting. But by making sure you're playing smart, playing under control, managing expectations and doing a little research, you can make sure your sports gambling bankroll lasts long and leads you to some big wins!