Sports betting can easily become a vice, a dangerous vice that can destroy your life and even cause serious emotional problems. The main damage caused by losing self-control is economic bankruptcy, destruction of your money and loss of ability to think clearly. Following some basic tips and our advice while betting can help you avoid gambling losses.
How to cut your Betting or Gambling losses?
The first thing to do is find a way to cut your losses by betting less money, establish a betting schedule, avoid betting on many football matches at the same time to avoid a betting overload week and losing bets frequently. This is one of the most common reasons for gambling losses.
You can use a powerful tool called Cash Out that some bookmakers offer, this tool gives you the opportunity to get the money of a bet (in case of winning) before the event ends, regardless the final score of the event , doesn’t matter if your bet losses. Betfair and Bet365 both offer this option.
Use live betting if necessary when a selection is in a serious situation and it is necessary to cover or back that bet with another bet against. It is not a simple method, but it works when watching television opportunities if a player is injured or something else happens.
Avoid using money from other funds that are not specifically for the bets, the less money you feed the bankroll, the less the losses will be, all in order to avoid spending money that we can not use for anything else.
Pick which are the best betting options, the ones that offer the most money and are the safest depending on the sport you use to make bets. The easier the type of bet, the losses will be minimal and will almost not appear.
How to avoid gambling debts?
The bankroll has to be funded by “extra” money, the source of the money has to be out of personal expenses, household expenses, food, car or any other fund vital for survival. The further away the bankroll is from the personal life of the bettor, the better.
The investment in sports betting must be done responsibly, it is a long-term investment, losses are something expected and must be faced very calmly. In case of suffering severe losses in a consecutive way, the most advisable is to cut the link with sports bets.
Limiting bets to a previously established percentage, the more reasonable the percentage with respect to the bankroll, the risk of falling into debt will be much lower. Most betting systems include recommendations on the percentage per stake.
Never borrow money to place bets. Some gamblers look for money where they should not and often borrow or use money from credit cards to place bets, this can seriously affect their credit history and prevent them from making profits with the bank in the future.
In case you lose all the bankroll money, do not look for money in other budgets, simply stop betting for a while, until you have enough money to refund your bankroll and continue with your investment in sports betting.
Never ever use a Credit Card on Sports Betting sites. Always fund using your debit card or Bank transfer, so that you don’t spend the money you don’t have. Credit cards can lead to huge Gambling losses and debts.