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Psychology is a key factor in long-term success in betting. Sometimes, emotions can lead you to make bad decisions, especially when you are on a losing or winning streak. Keeping calm and controlling your emotions is extremely important.
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Loss of Control and the Costs
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Properly dividing your betting budget is also an important factor to help you maintain your betting in the long term. A popular strategy is "percentage betting". You should only bet a small portion of your total money, for example 2-5% of your total capital. This will help you maintain financial stability even when you encounter a long losing streak. When you win, your betting amount will increase proportionally, but when you lose, you only lose a small portion of your capital, minimizing the risk of losing all your money.