Sensible betting: How to bet within your means

As we all know, there are many things to consider when it comes to gambling. From comparing odds to managing your funds, sensible betting means covering all angles to make sure your bets are sustainable and rewarding.

That doesn’t mean to say that you have to give up all your time though. There’s absolutely nothing wrong with a high risk bet here and there, as long as you approach it properly. Unfortunately, some people just don’t do this.

Bearing this in mind, today’s article will now take a look at some of the best tips you can implement to ensure that you are betting sensibly. If you can abide by the following, it should enhance both your enjoyment levels and hopefully, at the same time, your chances of success.

Learn what the odds actually mean

We see some people, whether we know them or not, make some huge returns on these bets (although surprisingly, we probably don’t hear much about their losses!). It can jolt some of us into trying this out for ourselves, without really knowing the implications of what various betting odds actually mean.

As such, before you even make your first bet, do some research to help you understand the odds. Once you get your head around what the bookies are actually offering, you will have a great starting point to find out whether you have a value bet, or if you are too up against it when you stake your money.

Abide by good bankroll management

Whether you are gambling or involved in the stocks and shares marketplace, bankroll management is always going to be crucial. If you have dedicated £100 towards your betting journey then first and foremost, make sure you don’t surpass this figure.

Then, it’s all about using strategic bankroll management. Some people will never stake more than 5% of their bankroll per bet, while others will have an even lower figure. The reason for this is so that you don’t blow all of your account in one go – as this is where problems can occur (see below).

Always use your head, not your heart (AKA never chase)

The problems we have just alluded to tend to involve chasing. This is one of the most dangerous games for a gambler, and involves trying to chase those losses that he or she has just made. Generally, it involves placing much higher bets without any real strategy. Sometimes this will be on supposed dead-certs, while some people might go the other way and attempt to go for more far-fetched odds just to claw back their finances. Suffice to say, it’s an approach that doesn’t work and if you ever find yourself in this boat, the best advice is to give up for the day (or longer, if it requires).

Therefore, it is crucial to develop a rational strategy when looking to place a bet. To assist with this, tools such as the bet calculator are widely available to help you calculate your potential winnings based on the odds you have been given. Using a more rational approach like this can help to bet more with your head and less with your heart.

Don’t be afraid of taking a break

On the subject of giving up, there’s also nothing wrong with taking a break. Burnout can occur in absolutely anything, and betting isn’t excluded from this. If you find yourself becoming mentally tired with the prospect, you’re not only risking your finances, but also your mental health.

Quit for as long as you feel is needed, and revisit when your head is at a better place. You won’t lose any money by doing this, but the opposite doesn’t apply vice-versa.