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Create a long-term strategy: Don’t think about making quick profits in sports betting. Betting is a long-term process, and to be successful, you need to have a long-term strategy instead of just betting randomly. This means that you need to learn from each game, from each win and loss, and gradually develop your skills and strategies. A long-term strategy will help you persevere and not get discouraged when you encounter failures.

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One of the important strategies in betting financial management is to apply a capital management system such as the "Kelly Criterion" method. This is a strategy that helps you determine a reasonable bet amount based on the odds and your confidence level in the outcome. Specifically, you should only bet a certain percentage of your current budget, which helps you minimize the risk of encountering a series of consecutive losses and protect your capital.

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To avoid risks, players need to choose bookmakers that have a legal operating license and have been certified by reputable betting industry regulators such as Malta Gaming Authority (MGA), Curacao eGaming or UK Gambling Commission. These bookmakers are responsible for protecting the interests of players and ensuring that financial transactions and betting results are fair and transparent. Players can check information about the bookmaker's operating license on their website or through reviews from the player community.