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Diversification is a fundamental risk management strategy. Avoid putting all your funds on a single bet or type of bet. Diversifying across different sports, events, and bet types helps mitigate the impact of losses in one area, contributing to overall risk reduction. UFC Today Live Updates, Betfair was an innovative advancement for the betting industry when it was established in 2000. Operating similar to a stock market but trading odds instead of shares, Betfair quickly became one of the world's premier betting exchanges and made placing bets on sporting events much simpler for punters.

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