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How To Manage Your Money When Betting
Managing your money at the racetrack, casino, or for sports betting is crucial. If you do not learn how to manage your money when gambling, you will always end up a loser. Many people are good handicappers, but lack the necessary skills or discipline to manage their money. These people are almost never successful at winning, because they fail to set goals and expectations prior to going to the racetrack or casino. Even if you are on a winning streak, it is bound to end sometime. I often see people winning one minute and a few hours later they have lost it all and even some on top of that.
Here are some top tips for how to manage your money and therefore limit your losses and increase your winning days.

1. Set goals prior to your trip to the racetrack or casino. Be realistic about what you expect to win. Would you be happy doubling or tripling your initial investment? If so, stop wagering when you meet these goals. The track will be open again tomorrow and so will the casino.

2. Only bring with you a set amount. Choose how much money that you are willing to risk and only bring that amount. Leave your credit cards and debit cards at home.

3. Have a game plan. Decide which races you are going to bet on and stick to this. I recommend wagering only on the races where you have a strong opinion of the outcome.

4. Be willing to take a loss. Everyone has a bad day at the track, casino or sports betting. Don't chase your losses or try to get your money back, this will likely only compound your losses, turning a bad day into a disastrous one. Be willing to take a loss today, go home and regroup, tomorrow will likely be better.

5. Focus on what you are doing. Try not to be distracted by alcohol or other distractions which will cause you to lose focus and increase your chance of losing.

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