Whenever you decide to start risking your hard earned cash by placing sports bets you may need to remember the golden rule; "if you run out of cash, you're busted", it's as simple as that. It also stands to reason why making the top possible use of that same hard earned cash should be our number 1 priority. However, parting you through your money as quickly as it can be appears to be the aim of our opponent, the bookmakers.

As such, the best rule for money management in sports betting is in order to avoid as many of the "teaser bets", playing soccer bad side bets and "easy to place bets" as possible. The bookmakers only draw your attention to these to stop you centering on your primary objective - money management.

Potential online betting danger - access to your credit card.

Money management applies every bit as much to an online betting experience as it does "in the shop", perhaps more so. When you're in a betting shop and you have a few of losing bets, and you are running short on cash, you can readily see that you're running short on money. Online, the danger is that you just type in your card details without worrying too much. The problem comes home in the event the card bill comes in.

You don't need extensive formulas and theories to deal with your finances for sports betting. You simply need to understand that it is extremely easy to underestimate the total amount of money you are actually spending. After all, the idea is to make money, not create a massive loss.

Betting strategy should help money management.

Having a certain strategy about what you're going to bet on, both the specific events themselves and also your total budget will help stop problems before they begin. Decide just how much you're ready to bet and stick to your limit. Of course, if it does go wrong, there is always another day. If you exceed your limit do not place any further bets as that type of play could become addictive and you may lose a great deal extra money than you will ever make from sports betting.

Ensure you pay attention to what you're betting on at the time. Do not let yourself become distracted through the other betting opportunities around you. Beware that the shop or online betting site you are in will try to encourage you to make rash bets. These will stop you winning your objective. These "side bets" will lead you away from what you are trying to do and turn a successful betting day in to a losing one.

Your emotional state also matters.

Beware of the emotional state that you're in and ask yourself "Is the bet I'm going to make logical and justified?" If you can not justify why you are going to risk your money then leave that bet alone. Feelings like "It won last time so it's bound to win now" or worse still "The team have not won for a while so this must be their week" are only going to lead to a lot of losing bets.

Eventually, there is absolutely no hard and fast group of rules because each player has his own style of betting and you need to control what you are doing. Your degree of expenditure may only be decided by you and needs to take account of your level of expertise and betting ability.

With understanding of the game as well as a check on your emotions, you may manage your hard earned money for sports betting to your ultimate advantage. Remember to bet only after having considered all the various factors that are available to you and treat every bet as though it were your first. This way you will win a lot more than you'll lose and don't be tempted to bet according to emotion.