1. Successful bettors don’t manage their bankroll at all.
No, it is not true at all. Bankroll management is a vital part of any successful betting strategy. So winning bettors aren’t just lucky people who blindly dump their dollars on sportsbooks. They are intelligent, rational, and responsible people who have financial planning skills. Professional bettors, of course, can feel emotions about games and matches, as well as victories of their favorite athletes or teams, but their emotions never influence the decision to bet, as well as the money they spend on betting.
2. If you are on a winning streak, you can afford to превысить your bankroll unit size once.
This misconception is very dangerous and can cost you money and psychological health. It doesn’t matter if you are on a losing streak right now, you need to get emotions aside and spend only the money you can afford to lose when wagering on sports events. And this rule doesn’t have any exceptions: once you allow yourself to overspend your bankroll, you can do it one more time. Moreover, if you spend just as much money as you want without any limits on vave sports betting, you lose the discipline which is needed in sports betting, and the lack of this discipline multiplies the likelihood that you can become addicted to sports betting many times over.
3. Since sports betting is less risky than gambling, you shouldn’t be afraid of gambling addiction.
Unfortunately, not. Even if sports betting is based more on probability than on pure luck, betting on sports also has a highly addictive nature. This is because bettor experiences excitement when betting, and is constantly in emotional tension. If his bet wins, a person usually experiences a pronounced feeling of joy and euphoria. Without proper discipline and the right attitude to betting, a person can easily become addicted to this emotional high and lose control of his betting. As a punter, you need to be aware of gambling addiction and take all measures to avoid it. You need to stick to your bankroll, not exaggerate the importance of betting in your life, and devote limited time to betting. Never bet if you feel sad or anxious. Think of betting on sports only as one of your interesting hobbies and pastimes and not as a substitute for socializing, family, or professional activities.
4. To maximize winnings it is essential to use progressive bankroll management strategies.
There are different bankroll management strategies (flat strategy, Kelly strategy, etc.) While Kelly betting strategy is about setting precise betting limits, progressive bankroll techniques allow punters and gamblers to continue increasing bet amounts in the long run if it is needed. Progressive bankroll strategies are much riskier to use, and to use them you should be an experienced and disciplined bettor. If you hope to turn into a winning bettor just because you use a certain bankroll strategy you should stop thinking this way. No betting strategy or bankroll strategy turns you into a winning punter who is extremely successful in whatever he does.
5. Bankroll management is only about money.
Even if a bankroll is just a set amount of money, bankroll management is essential for your mental well-being as a punter. If a person loses too much money or experiences financial difficulties, it cannot help but have an impact on their emotional state. A person can hardly stay calm or happy if they have just spent a lot of money that they should have spent on something else. There is even such a concept as emotional bankroll – this is the amount of money a person can spend without feeling remorse or anxiety. He can happily part with this money and not worry. However, if a person spends too much money on betting, it is bound to cause him negative feelings that can lead to serious psychological diseases.
