Learn techniques for sports betting bankroll management
Discover the best way to manage your sports betting bankroll. Succeed with a steady and a professional approach to staking and overall bankroll management
Published on 08 December 2017
Updated on 08 December 2017
All sports betting bankroll management strategies start by setting a bankroll size. The size of your initial bankroll depends entirely on how much you are willing to devote to your gambling hobby. For the sake of discussion, let’s say that you want to start with £2,000 for your bankroll.
Start with your betting goals
To set a proper bankroll management system or strategy, you should create a goal. For example, you can say that you want to double your bankroll in six months. If you are just a casual bettor, you could set a longer timeframe for your goal.
Your time frame sets your aggressiveness in betting. If you only have a short period to reach your goal, you need to be more aggressive in betting. You can adjust your aggressiveness through the percentage of your bets or your betting rates. If you are just a casual bettor, you could start by betting 0.5-1% of your bankroll on each bet. If you want to be more aggressive to reach your betting goals faster, you could increase your betting size to 2-5%.
Beginners should start low
You should also control your aggressiveness based on your success rate. In the beginning, it is normal to expect losses. You are still looking for the best strategies for picking winners. You are also testing out your information sources for placing bets. In this transitional stage, your success rate may decrease.
You should also limit your aggressiveness when you are just in this stage. You can just make more aggressive bets if you are sure of your sources and you have a better win rate.
Adjust your betting limits based on your mastery of the sport
If you are betting on multiple types of sports, also adjust your rate based on your performance on each sport. If you have a higher win rate with football compared to other sports, you could use a higher betting rate for it compared to other sports. It’s possible that your knowledge for the game and the league is far superior in this sports. It may also mean that your sources of information in this sport are more reliable. No matter the reason, try to take advantage of your high win rate by increasing your betting size.
If you are just starting to bet on a particular sport, start with your minimum betting limit. Only increase your betting limit when you have established a good win rate for the sport.
Adjust your betting rates based on preferences
Beginners usually start their betting careers by only picking the favourites. As they gain more experience, they learn to bet based on the value that they get from the spread. Your aggressiveness should also adjust based on your betting preference. If you like betting only on favourites, your expected returns per win will be lower but you may also have a higher win rate. On the other hand, if you mostly bet on the underdogs, your general returns will be of a higher rate.
After setting your betting rules, write it down and post it near the computer where you do your betting. You should read your rules before placing your bets. Even if you bet with disciplined 99% of the time, it just takes one whimsical bet to lose all your money. It is important that you follow your rules at all times, regardless of the circumstances.
Section: Betting Bankroll