In online sports betting, you need to learn how to manage your bankroll effectively if you’re aiming to keep this hobby profitable and fun in the long run. Whether you are a casual bettor or a regular punter, you need to learn how to handle your betting funds with discipline to stay profitable and avoid any financial pitfalls. So if you want to be successful at Red18 Sports Betting Singapore, you must learn how to choose your bets while efficiently handling your funds carefully.
Why Bankroll Management Will Never Be Negotiable?
Bankroll management is not just important but it is actually the backbone of long-term profitability in sports betting in Singapore. Without it, even if you are the most skilled bettor, there is a high risk of losing your funds during inevitable losing streaks. Here’s how you can manage your existing fund when betting at the Red18 Singapore sports betting site:
Determine Your Unit Stake
After you have decided the amount of money you are willing to risk for betting, your next step is to identify your “unit” – the amount you need to wager per bet. This is a golden rule, you should never be risking more than 5% of your existing fund bet and ideally you should not risk more than 1 to 3% of your total fund. This way, you can minimize the risk of depleting your fund and ensure that you’re never one bad bet away from disaster.
Track Every Bet Religiously
It is always advisable that you document your bets – including your stake amount, odds, and results to identify patterns.
Are you overbetting on underdogs or you’ve been making bad bets towards the favorites? With the help of the journal, you’ll be able to identify patterns or spots in what decisions you failed most of the time.
Never Go After Recovering Your Losses
Emotional betting is one of the proven ways to lose your funds. If you experience losses, there is a strong urge to increase your stake to win back your previous losses. But that’s not the ideal way to bet at online sports betting sites in Singapore like Red18. What you need to learn is how to resist this urge and stick to your unit sizing.
Set Your Max Loss Limit
To succeed in sports betting in Singapore, you must also determine your loss limit threshold. And if you have reached this, stop betting on sports and just come back on your next betting session. This way, you’ll avoid making emotional bets and keep running after your losses.
Try Fixed Betting On Sports
To help you manage your betting funds without dealing with complex computations, you can try betting on a steady amount of money for each bet. So if you have $500 for betting and you’re planning to risk 2% of it for each bet, then you will be placing $10 for each bet.
Become A Value Hunter
In sports betting, betting on the favorites doesn’t mean that you’ll win in the long run, but rather it’s about finding value. You are in for a treat when the bookies offer odds that are higher than its true probability because this is a value bet. For you to spot value bets, you have to be patiently researching team form, past performances, H2 records, injury reports, and other factors. By focusing on value bets, you will be able to increase your chances of winning and making a profit in the long run.
Wrap Up
While bankroll management is a nuisance to many punters, this is one of the secrets to becoming a successful bettor in the long run. This may take some effort on your part and some knowledge of mathematics to a certain extent, but it is one of the surest ways to make money at sports betting in the long run. If you are ready to start sports betting in the right way, be sure that you know how to handle your betting funds efficiently before going all the way to Red18 Sports Betting Singapore.
FAQs:
What’s The Ideal Percentage Of My Bankroll Should I Risk Per Play?
Experts suggest that you should never go over 5% of your existing fund and to minimize the risk of fast depletion stick to 1-3% per bet.
Is It Ok To Increase My Unit Size After A Big Win?
Yes, it’s ok, there are bankroll strategy where you can adjust your unit as your bankroll grows. If your existing budget grow by 20% then you can increase your unit by 20%, still maintaining the balance.
Is It Necessary To Track My Betting Activity?
Yes, of course. By documenting your bets, you’ll be able to track if your strategy works, what bets work best for you, and at what odds you are winning.