Do you love the adrenaline and profits that come with wagering in the betting lines and coming out with big profits? So do we! Fortunately or unfortunately, betting—especially sports betting—comes with several risk factors that need to mastered if we are to avoid sinking into the oblivion of bad irreparable losses and lifelong debts that have, for so long, been the norm for bettors that aren’t mindful of the risks that come with this profitable but risky world of betting. Here are a couple of the most elemental risk factors every bettor—amateur or not—should keep in mind.
Risk Factors that Every Sports Betting Fan Should Keep in Mind
Money Management Can Make or Break You
The basic principle behind money management is that you should only spend what you can afford to lose and avoid going overboard with you wagers, whether you are winning or losing. By doing so, you not only protect yourself from accruing big losses (more so when you are in slump) or even getting too excited when you are winning. I mean, it would be a pity if you pissed away your capital or hard-earned money by not being able to manage your money and risks.
Parlay Bets are Not for the Faint-hearted
The great thing about parlay bets or multi bets is that; for a small stake, you stand a chance for a potentially big payout. What many bettors don’t get into their heads is that parlay bets commit the punter to the whole bet for a win-all or lose-all situation. If one of your 10 multi bets fails to go through, the other nine wins don’t mean anything; you won’t cash out. Parlays also require a lot of patience, especially if your selections spread over several hours or several days. So, unless you are have the heart to risk winning or losing so much, and the patience to wait out for your multi bets, stay the hell away from risking on parlay bets.
“Chasing” Your Bets Doesn’t Make You Luckier
This point is more-or-less an extension of the one above talking about money management, but is unique importance makes it best-viewed as a standalone point. Chasing your bets, in this instance, is loosely used to mean the practice of increasing your stakes based on your last wager (or series of wagers. All those talks about increasing your betting size with the “proven knowledge” or hope that you are bound to win big sooner or later are ill-informed. To avoid all that, it is best recommended that you stick with “flat betting” where your best stay constant, unless you have come into some REALLY big bankroll that warrants increasing your stakes sizably and progressively over a given time of long-term success.
Streaks—Winning or Losing—Eventually Come to an End
Yes, nobody will always be a loser in betting just in the same way winning eventually comes to an end. if you are in the habit of recklessly pushing your wallet in losing streaks or trusting too much in your winning streak by betting carelessly (like chasing your bets, as explained earlier), you will soon find yourself with losses that are too big and hard to re-coup. As a guiding factor here, always know when to say “No”, whether you are winning or not.