Without money management which is basically a set of rules on how much money you will bet on each game, you are gambling your money away. I look at betting on sports as an investment like buying stocks. I don't view it as gambling and that is because of money management.
Setting a bank roll is part of your money management. This is something you must do before you place a wager. It is a number that a bettor can afford. Betting over your head and throwing rent and grocery money away on sports betting is simply foolish. If you don't set your bank roll you are more than likely to chase your losses and increase your bets to make up for losses.
More times than not that will lead to losing your money. Believe me when I first started out betting I lost because I had no money management I would chase and I would chase with parlays and teasers in the wrong situations. Knowing how to set your bank roll and good money management skills is the first step to becoming a successful sports bettor!
Once you understand money management it is important to understand sports odds.
