Money management in the world of horse betting online is the ability to manage your betting money in such a way that you stand the best possible chance of succeeding. The aim of anyone who bets on horses is to make money rather than lose it, and although you will need to know about picking winners to do this, you will also need to adopt sound money management principles.

The most important money management principle is never to bet more than you can afford to lose. You will of course hope to win, but nobody can pick 100% winners so it is inevitable that a certain percentage of your selections will lose you money. Adhering to this first principle of only betting money that you can afford to lose will help you to avoid the possibility of going broke when one of your horse bets lets you down.

The next most important money management principle is to establish a betting bank. This is a sum of money that you are willing to set aside for horse betting online. It could be £20, £100 or £1,000, but whatever the amount you must ensure that if you lost this sum you wouln’t be plunged into poverty. Remember, horse betting online is a potentially profitable hobby, and not something that you can rely on to pay the mortgage.

When you have established a betting bank, you need to decide how to use it effectively. The two most popular approaches taken by horse betting online enthusiasts are as follows:

Bet level stakes. This involves dividing your betting bank into a number of equal smaller amounts and then betting those amounts on each of your horse betting online selections. For example, if you have a betting bank of £100 you might divide this by 20 and place a £5 bet on each of your selections. All of your profits should of course be added to the betting bank as you go along, but no matter how big your bank gets, you would still continue to bet level stakes of £5 per selection.

Bet a percentage. This money management strategy involves betting a fixed percentage of the available betting bank on each horse betting online selection. For example, you might decide to bet 5% of the available balance on each selection. This would mean a bet of £5 when your bank is at £100, £7 when your bank is at £140, £10 when your bank is at £200, and so on. The benefit of this strategy is that your stakes increase as your bank gets bigger, but if your bank gets smaller after a few losers then your stakes are reeled in to reflect that.

There are other options that someone horse betting online could consider, and we will present details of those more advanced ‘staking plans’ in a future article. In the meantime, it is a good idea to focus on improving your ability to pick horse betting online winners and to make money with level stakes or by betting a fixed percentage of your bank.