A rule of thumb: never increase your bets or bet on more games in order to make up losses. Sports betting as an investment is a risky proposition at the best of times, and without a proper sports betting money management system in place it is easy to lose money quickly – and, more worryingly, exponentially.

Without being too negative about it, it must be realised that you will lose bets. You will experience losing streaks, and you will experience winning streaks. Not even the most successful punter has won every bet they have ever laid. You must stay disciplined, and by chasing losses all you do is put your bankroll at risk.

If you are unfortunate enough to undergo a losing streak, do not begin betting larger amounts. Pinpoint flaws and problem areas in your spread betting strategies, and reassess your research and handicapping efforts. Would you, in hindsight, make the same bets? If you are still struggling for answers, maybe try one of many widely available free betting systems, or enrol in, for example, a financial spread betting course. Betting online presents the temptation to click away blindly, placing bets left right and centre while running your account funds low. Be patient. Wait for the right opportunity and value to present itself and talk yourself into not making rash, spur of the moment decisions. A betting spree can be disastrous if the cards fall the wrong way, and given the way that bookmakers set their odds, it is likely to end up on the negative side anyway.

Keep learning. The learning experience never ends.

Conversely, if you are experiencing a good week, do not be fooled by winning exuberance. It is easier to blow gains from well-researched bets than to win the money in the first place. Do not increase your bets or bet on more games because you are on a winning streak and cannot lose. You can and will lose. Admire your improved judgment, but consider each bet individually and never consider it correct before the outcome is official. The natural temptation for any gambler, particularly those with less experience, is to start doubling bet amounts and the number of games being bet on. You must stay disciplined, and somehow limit yourself even if things are going all your way. Backing everything that moves after a good win can have calamitous consequences.

Many sports betting money management systems are available, and some are even specialised to certain areas such as horse race betting and spread betting. Take full advantage of these free betting systems and be prepared to learn from others’ experiences.