Many sports bettors simply focus on betting systems and strategies that will be profitable. After all, without a good betting system, we won’t make any money, right? The same thing can be said about money management.
If you don’t properly manage your bankroll, you might not be able to take that next step to becoming a successful sports investor. Employing a good, consistent sports betting bankroll management system will reduce the chances of extreme losses and help turn a hobby into an investment.
In the world of finance, many professionals use the phrase risk management and money management interchangeably. What are we trying to do when we focus on money management? Simply, we’re trying to manage our money to minimize the chances for loss and, more specifically, minimize our risk of going broke.
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