What is sports betting bankroll management and how does it help?
Discover how professional bettors think about their sports betting money management. Learn how you to keep your sports betting discipline and wager sensibly
Published on 07 December 2017
Updated on 07 December 2017
Bankroll management is a set of rules that bettors establish for themselves in order to manage their gambling fund. The rules differ for each bettor. These rules limit the bettor’s aggressiveness to lessen the potential losses during bad runs. You can use this guide to start creating your own bankroll management system that fits your personality.
Bankroll management has two important effects in a player’s betting behavior. First, it sets a uniform betting amount. Beginner bettors usually make the mistake of betting all of their money, thinking that they will double their money with one bet. However, most of the time, this behavior leads them to lose all of their money.
When you use bankroll management, you follow a rule on how much to risk in each bet. Most of the time, you only bet a percentage of your total bankroll. Betting your entire bankroll is discouraged to prolong your gambling life. If you lose your bet, you will have more opportunities to regain your losses in the future.
Because you determine the betting amount based on the percentage of your bankroll, your betting size will gradually increase as your bankroll grows. This works best with beginners to gambling. When bankroll management is practiced properly, a beginner should start small. If he wins consistently, his bankroll will grow together with his betting size.
Bankroll management also enables you to manage your emotions so you won’t end up chasing losses. Beginners usually make the mistake of staking more to regain losses. This leads them to make bad decisions that result to more losses.
When you keep on losing, you are more likely to make bad decisions. In the gambling world, this is called playing on ‘tilt’. When you are in this state of mind, you are no longer making decisions objectively. You place bets based on emotions and you no longer consider the information you gained when researching your bets. Most bettors who play while tilted end up losing. Bankroll management prevents this from happening.
Bankroll management limits your betting frequency to prevent this from happening to you. Even beginners will be able to pick better spots to bet on when using a management system. Because you only have a limited amount of funds to use, you will not bet it all in a single game.
The most important effect of bankroll management is that it prevents your betting life affect your financial life. If you want to become a successful bettor, you must create your own set of rules to govern your betting hobby.
Every person should find a management style that fits his betting preferences. You should test these rules and see if they fit your personality. Aggressive bettors who mostly bet on underdogs should have different rules from bettors who only bet on the favorites.
Lastly, you should adjust your management system based on your experience in using them. As you gain more experience in betting, you may change your strategy and your aggressiveness. As you change these factors, also change your management guide to suit your new style.
Section: Betting Bankroll