How Much Should I Wager?
Set a budget and stick to it.
Responsible gaming means enjoying sports betting purely for fun.
There’s no one-size to budgeting as everyone’s risk tolerance and entertainment budget is different. Like any other form of entertainment, you need to decide how much money you can put toward it.
Establishing a Bankroll
Before you wager, establish your bankroll – the common name for a budget in sports betting. This can be informed by your personal guidelines around when and how much you can afford to gamble as well as your risk tolerance for losing.
Distribute Your Spending
As you think about your bankroll, you also should decide how long that budget is for: daily, weekly, monthly, or annually.
It’s important to not spend your set bankroll all on wager. You can start with small bets or divide up your bankroll by sports to allow you to have fun with more games.
Track Your Spending
Setting a bankroll (or budget) is the first step. Now you have to stick to it.
Decide how you want to track your spending and wagers. To start, you can use the tools provided by legal sportsbook operators to set and manage your budget.
Some bettors also track their individual bets to see where you’re winning or losing and adjust wagers accordingly.
Budgeting is part of your game plan. So don’t forget:
· Never play beyond your means.
· Don’t chase losses or place big wagers in the hopes of winning big.
· Sports betting is not a pathway for financial gains.