Online betting should involve money management, discipline, and realism but oftentimes it does not.
Once a bettor extends beyond his reach and starts betting money that should not really be a part of his online betting bankroll he will start to bet scared; and he will then start to lose. Scared money never wins in online betting.
Online betting is filled with people who bet scared with money that they didn’t have. It’s like a law of nature than when somebody bets something out of desperation they will not only lose, but lose in heartbreaking fashion. That’s just how it works and the sooner that you accept that, the more prudent you are likely to act with your bankroll because dollars are all you have to fight with in online betting.
The best way to avoid betting scared and making a mistake that is inevitable when betting online is to maintain online betting bankroll discipline and never deviate from it. The best way to do this is to understand your bankroll and allocate it properly when betting online.
The first step to breaking down an online betting bankroll is to come up with the grand total amount of the bankroll itself. In this example we will say it is $1000. If you are betting sports then you want to keep your wagers to 5% or less of your overall bankroll. If you are playing poker then you want to sit at a table that has low online betting limits. You don’t go sitting at a $10-$20 with a $1,000 bankroll, yet that is what many people do in online betting. If you want to play poker then you need to have at least 200 times the big blind when sitting down and betting online. In this example that would mean you need at least $4,000 to play at that $10-20 table. Most people don’t do it that way and that is why they lose in online betting.
The same bankroll and money management principles apply to other forms of online betting. If you are playing casino table games or betting the horses you need to manage your money intelligently and risk only a small portion of your overall online betting bankroll. If you don’t do this then eventually you will be betting online with scared money and that is never a good thing.