Choosing the right bet size is a crucial aspect of any risk management plan, regardless of whether you're playing at a sportsbook, betting on sports, mega888 or participating in online tournament. Your bankroll is essentially the amount of money you have set aside for betting, and it's essential to manage it effectively to avoid financial difficulties and maximize your chances of winning.
Determine Your Bankroll
To begin with, you need to determine how much money you're willing to commit on betting. This should be money that you can afford to cede without experiencing financial hardship. A general rule of thumb is to set your bankroll at a level where you can afford to give up up to 20% of it without suffering from financial hardship.
Decide on a Stakes-to-Bankroll Ratio
Once you know your bankroll, you need to decide on a bet-to-bankroll ratio.
