When you choose to start risking your hard earned cash by placing sports bets you may need to remember the golden rule; "if you run out of money, you are busted", it's as simple as that. It also stands to reason why making the best possible utilization of that same hard earned cash should be our number 1 priority. Conversely, parting you from your money as quickly as possible appears to be the aim of our opponent, the bookmakers.

For this reason, the best rule for money management in sports betting is in order to avoid as many of the "teaser bets", bad side bets and "easy to place bets" as is possible. The bookmakers only draw your attention to these to stop you centering on your main objective - money management.

Potential online betting danger - access to your credit-card.

Money management applies every bit as much to an online betting experience as it does "in the shop", safe football perhaps more so. When you are in a betting shop and also you have a few of losing bets, and you are running short on cash, you can simply see that you're running short on money. Online, the danger is the fact that you just type within your bank card details without having to worry too much. The problem comes home when the credit-card bill comes in.

You don't need extensive formulas and theories to manage your finances for sports betting. You simply need to understand that it is quite easy to underestimate the amount of cash you are actually spending. After all, the idea is to make money, not create a large loss.

Betting strategy will help money management.

Having a particular strategy about what you are going to bet on, both the actual events themselves and also your total budget will help stop problems before they begin. Decide simply how much you're prepared to bet and stick to your limit. Of course, if it does go wrong, there's always another day. If you exceed your limit don't place any further bets as that sort of play may become addictive and you may lose a whole lot more money than you will ever make from sports betting.

Make certain you pay attention to what you are betting on at the time. Do not let yourself become distracted through the other betting opportunities around you. Beware that the shop or online betting site you're in will attempt to encourage you to make rash bets. These will stop you winning your objective. These "side bets" will lead you away from what you are trying to do and turn a successful betting day into a losing one.

Your emotional state also matters.

Beware of the emotional state that you are in and ask yourself "Is the bet I'm about to make logical and justified?" If you can't justify why you are about to risk your hard earned money then leave that bet alone. Feelings like "It won last time so it's bound to win now" or worse still "The team haven't won for a while so this has to be their week" will be just going to lead to a lot of losing bets.

Inevitably, there is absolutely no hard and fast set of rules because each player has his own style of betting and you need to control what you're doing. Your degree of expenditure can just be decided by you and needs to take account of your degree of expertise and betting ability.

With comprehension of the game as well as a check on your emotions, you may manage your hard earned money for sports betting to your ultimate advantage. Remember to bet only after having considered all the various factors which are available to you and treat every bet as though it were your first. This way you'll win a lot more than you'll lose and don't be tempted to bet based on emotion.