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Apply the principle of "risk management", which means betting only a small portion of your total available money on each bet. This will help you maintain profits over the long term and minimize the risk of losing all your money in a short period of time. A commonly used strategy is to never bet more than 5-10% of your total betting account money on a single match or game.

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Another strategy to keep in mind is to be patient and wait for the right time to place your bet. Sometimes, it is more important to wait patiently for the right time to place your bet than to participate in every event that is available in the market. Placing your bet when the odds are in your favor and when you feel confident in your analysis can pay off in the long run. Placing your bet too early or too much can lead to unnecessary risk. There are even good times to “wait” until you have enough data to make the right decision.

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A gambler’s psychology can change at different stages in the gambling process. Below are some basic psychological factors that can influence a gambler’s decisions and behavior.