Establishing and Building a Sports Betting Bankroll
Sports betting is not just another form of online gambling. It’s something that takes time to develop a true appreciation for, or at least a sense of ingenuity and unremitting success. Every triumphant professional got their start somewhere, and establishing a sports betting bankroll to build upon will be yours.
Establishing a Sports Betting Bankroll
You’ll first have to establish a sports betting bankroll. Start saving up, setting aside extra funds for your initial bankroll until you have accumulated a decent starting bankroll.
It’s not enough to save up just the amount you want to place on your first wager. You should have at least enough to place 10 equal wagers before you ever place your first sports bet. We’ll discuss the reason in more detail in a moment.
For obvious reasons, you should never, ever use funds that were meant to go elsewhere to place sports bets. If you only have half of the mortgage payment, don’t wager it hoping to win the other half. Don’t use bill money, gas money, grocery money, you get the point! Your gambling funds should always be separate from household cash.
Making Your First Online Sportsbook Deposit
With funds at the ready, it’s time to make your first deposit at an online sportsbook. Be sure to check out our section on “Choosing the Right Sportsbook” if you aren’t sure of a good sportsbook website to place your bets.
You’ll first need to register a new user account. Just fill in all required information accurately and submit the form. Next, go to “My Account” and choose to deposit. You’ll be met with a choice of payment methods. Select the one that suits you best, preferably one that is instant if you want to start betting right away.
Again, fill in the required information as instructed, input the amount you wish to deposit and confirm.
Building Your Sports Betting Bankroll
Now comes the really important part. Don’t make stupid bets! If you have a favorite team, don’t bet on them just because your heart tells you they can pull it out. Take your time and make educated decisions. If you can’t bear to bet against your favorite team when they are the underdog, look for a good point spread, or avoid the contest altogether.
We mentioned above that your starting bankroll should be enough to span 10 wagers. This is because you simply can’t expect to win every bet, no matter how favorable those bets seem at the time. If you wager your entire bankroll on the first bet and lose, you’re more likely to give up on sports betting altogether.
If, however, you make several educated bets, you can expect to win about 80% of the time. Try taking the advice of a reliable handicapper. A good handicapper should have an 80% or better rate of accurate predictions.
Building a sports betting bankroll is a long term goal. By taking it slow and divvying up your bankroll wisely, you should be taking in more wins than losses suffered. Over time, your bankroll will continue to grow. Keep this mindset throughout your online sports betting experience and you should have no problem maintaining a lucrative account.