When it comes to the Super Bowl betting, money management is absolutely crucial. There is so much excitement around the game, so many betting opportunities, and so much time before the game, that it can be easy to bet far too much of your bankroll on the game and to bet it in ways that don't give you the best chance of success - or at least the smallest risk of losing all your money. Good money management isn't complicated, but it can be an easy thing to forget about in the heat of the moment. Luckily, all you need to do to keep yourself on track when betting on the Super Bowl is ask yourself these four questions:
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Why are you betting?: You need to start by asking yourself what you are looking to accomplish by betting on this game. Are you just interested in having something to cheer for or something to brag about to your buddies? That means you are likely to want to bet less and bet less intentionally than if your goal on the day is to make a big score and end your NFL betting year on a high note. You can also ask yourself whether you are looking to make one big bet that will make or break you or if your needs will be better served by making a large number of small bets spread over different styles of bets. Once you know what kinds of bets you are looking to make you have a better idea of what you are looking for and you know what kind of handicapping you are going to need to do to get you where you want to go. You'll also be able to avoid bets that don't help you get where you want to go. Most often, avoiding bets is the biggest part of making profits.
What are you good at?: This is a question that doesn't get asked often enough and that people don't consider when thinking about money management, but it is really very important. Successful betting is all about putting your money in the places where you have the best chance at enjoying a healthy return. You manage your money best by focusing on those strong spots and avoiding weaker spots. It only makes sense, then, that you should focus on the areas in which your personal strengths give you the best possible chances. For example, when it comes to the Super Bowl, I focus on props because I'm good at breaking down the math quickly and separating the ones with value from the duds. On the other hand, I am not strong at breaking down the Xs and Os of the game, so I leave that for others. By just sticking with what I do best I am giving myself the best chance for success from the start. If you keep good records of your bets then you should also look back at the types of bets that have consistently been profitable for you and the types you struggle with.
What are your limits?: Now that you know your goals and what you are going to focus on then you need to figure out how much you are willing to bet. Most specifically, you need to think about how much you are willing to lose on the day - because that is always a possibility in sports betting no matter how good you are. You want to start by realizing that you shouldn't bet money that you can't afford to lose. If you are choosing between paying your rent and taking the over then you really need to look in the mirror because you have a problem. Beyond that, you need to think about how big your bankroll is and how much of it you are willing to put on the line. A determining factor in that could be how your season went. If you made a profit up to this point in the season, for example, then you need to decide if you want to let that profit ride or you want to ease up to ensure you wind up in the black no matter what happens. There is no one right answer, so what is important is that you think about your situation and consciously do what is best in your eyes.
What looks good?: Maybe this question should be different - does anything look good? When we are looking to bet on high-profile events like this one then it can be really easy to force a bet just because we want to be part of the fun. During the season, though, bettors toss out dozens of games because they just aren't attractive. It only makes sense, then, that it is possible that the game won't actually warrant betting a large amount. You might still want to bet a bit for fun, but it might not be worth a full bet - no matter how much you might want it to be. On the other hand, perhaps when you look at the game you find a situation that offers particularly strong value and is worth a strong bet.
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