Bankroll Management Issues
How to approach bankroll management issue when betting on horses
In all sorts of betting and casino games, deciding how much money to spend is no silly issue. Unless making a wager on impulse or following interesting tip, having your moves well-thought-of is extremely important. Otherwise, the danger of going broke rather quickly are very large, which simply takes all the fun away.
In terms of betting strategies or tips on how much to spend on a single wager, there is probably more material on the web from poker and general gambling perspective. The biggest online poker sites often provide valuable insight about bankroll management. Of course, that doesn’t mean you won’t find anything worth noticing on the matter of horse racing. Undoubtedly, all the information we can get to become better is crucial. Racetracks usually makes a splendid job in putting together races and fixing odds in order to establish a situation when players essentially compete against each other. Therefore, overcoming the obvious house advantage is not an easy task.
Taking the question seriously, the first key decision is how much do we want to spend. Typically, there is no limit to a minimum bet size which encourages people to start playing with very little in the hope of hitting something big. Such approach will inevitably lead to bankrupting in just a few steps. Even relatively low bets can take up large percentage of an expected budget when there is not enough cash. The amount has to account for the unavoidable losses and be able to absorb them while still maintaining good chances to turn some profit in a long run. Only the long-term thinking allows to implement strategies and ultimately make the ability to build up the bankroll possible.
The most frequently asked question raised by those anxious to jump right into action is clearly how much to spend on a single wager. Considering many available options, as well as fees involved, or any specific restrictions some races might have, the straight answer isn’t always possible. Of course, the actual size largely depends on how much we have. As a general rule, it is best to assume about 2 % of total bankroll at the time should be adequate. This means for example, if you have 500 pounds designated for the purpose, the proper amount for individual race is £10.
Additional steps to take up next should involve adjusting those numbers to the circumstances. There are two types of approach to have in mind. The first is backing short-priced horses with lower odds, like 3/1 or under. With those “surer” bets the wagered amount may slightly increase. On the other hand, long-shot bets with odds between 10/1 and 20/1 are advised to be made with less money, as there is higher risk involved, even if sometimes it could be worth to take a gamble. In general, you should be looking at projected return of 10 % of your bankroll, and pick bets accordingly.
There is no guarantee that any technique will get you sustainable profits, but if there is ever a promise of obtaining that goal, it is only by following the strict rules and keeping appointed course.