There are many sports bettors who give very little thought to how they manage their money and it's really common problem in this sphere. So firstly you need to learn about management of your funds. And only then consciously put the bets!
There is bankroll management. It is relatively straightforward. First, you'll need to set a budget for how much youre prepared to spend on your betting and then never exceed this limit.

Definitely! The main advantage of such management is that it should prevent from debts. Or from betting too much just because you appear to be on a winning streak. It can even help you make better betting decisions.