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Many thousands of people, all around the world enjoy the thrills and spills of betting on sports, for all sorts of reasons. Some use sports betting as merely a way by which to increase their bank balance. However, the majority of punters that bet on sports do it for the "adrenaline rush" and find it hard to resist the excitement of risking some hard cash on the betting odds offered on football, rugby, cricket and tennis matches, along with golf tournaments, whether live or on television.

The underlying motive is irrelevant to the enjoyment of betting on sports. However, it makes sense that successful, profitable betting is vastly more enjoyable than a long string of losing bets. As is true for most worthwhile activities, successful betting on sports requires a certain amount of good, old-fashioned hard work. For sports betting, much of the groundwork takes the form of extensive research into the sports that are the medium for potential bets. In addition, sports punters need to fully identify what they seek to achieve form their sports betting, as without parameters against which to measure it, there is no way of measuring its success, or otherwise. Furthermore, potential sports backers need to learn to handle their money correctly, develop a sound staking plan and sufficient discipline to apply it correctly.

Money Management

Although dealing with money effectively is essential to any form of betting, it is the aspect that is most often overlooked. The most important element of any effective money management strategy is the surety that betting does not interfere with money set aside for other purposes, such as day-to-day expenses. With this in mind, sports bettors would be wise to adopt the "betting bank" strategy. This involves setting aside a pre-determined sum of money, used exclusively to fund sports betting.

Staking Plans

Opinions vary widely with regard to effective staking plans. Some are very simple, whilst others can be extremely complicated. A simple, yet effective approach is the "percentage of bank" staking plan. According to a punter`s confidence in a selection, the amount staked varies from 2% to 5% of the currently available funds in the betting bank. This approach has 2 major advantages. Firstly, in maximises profits and minimises losses. Secondly, it provides adequate protection against the long losing run of bets that every punter will have to endure at some point. With a maximum stake of 5% of the betting bank, this staking plan will support a losing run of twenty of a punter`s most confident bets before the available funds run out.

Discipline and Control

Betting on sports must not be viewed as a means of obtaining huge wealth overnight. Instead, punters should adopt the more realistic approach of seeking small profits consistently, which lead to substantial gains in the longer term. Discipline is vital, particularly during the periods of frustration following several consecutive losing wagers. It is essential to take a long-term perspective and stick to tried and tested practices. The disciplined approach discussed above will prevent many costly errors.

Backers should be aware that sports betting, in keeping with all forms of gambling, including playing hands in poker, have an inherent risk and bets, both in terms of stakes and frequency, must be kept to a sensible level.

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