5 Tips For Managing Your Gambling Money Wisely
While gambling should be fun, it never hurts to consider what you can win and lose while doing it. That is why here we leave you some tips on what you should take into account to correctly manage your money when betting . You and your pocket will thank us!
Define A Betting Budget
Rule number 1 in the betting world is NEVER bet more money than you have. But we also advise you not to bet money that you do have, but that is intended for your fixed expenses. To avoid bad experiences and problems with people close to you, we recommend that you allocate only a percentage of your salary to gambling that does not affect your lifestyle and that you always stick to it.
Divide Your Budget
Now that you clear your budget to bet , you must define how much of this you will use for betting on casino and how much for sports betting . For example, if you plan to bet 1000 pesos a fortnight, you can use 600 pesos for sports bets and, of that money, use 400 pesos for soccer and 200 pesos for eSports . The remaining 400 pesos can be used to bet on games of chance and divide them between card games, slot machines and even in draws .
Set A Loss Limit
Obviously if you lose all your gambling money you would no longer have to continue betting until you receive your salary again, but at this point we are referring to consecutive losses. For example, if you find yourself in a losing streak , you will not start playing and losing over and over again until you lose your 1000 pesos from your budget . Ideally, you should set a limit of, for example, 400 pesos of money lost in bets made consecutively so that you can take a break and bet again later with the 600 pesos that you have left.
Your Earnings Are Not Part Of Your Budget
There are bettors who add the winnings of their bets to their budget to continue betting . However, it is best to separate that money so that in the end you can enjoy it alone or with your loved ones. So if you have 1000 pesos in your budget, bet 200 pesos and win 400, it does not mean that now you have 1200 pesos to continue betting. Our advice is that you continue playing with the 800 pesos of your budget and that those 400 pesos you spend on something else that you also enjoy a lot.
Always Keep Track
Although in your Strendus account you can find a record of everything you are betting and winning, the ideal is that you keep your own record in a notebook or even in an Excel table in which you can add the bets you make on other sites and / or with other people. You can also include your accumulated earnings and what you spend them on so that later you don’t forget where the money went.