Managing your bankroll the right way

One of the key components of success in sports betting, just like the ability to analyse events, is proper bankroll management. Even the most accurate predictions won't guarantee a stable income if you can't control your finances. The bankroll is the amount of money a player allocates exclusively for betting, without touching personal or family funds. And, obviously, under no circumstances should you take out a loan.

The idea of bankroll management

Our main goal is not just to increase the bankroll, but to preserve it for as long as possible to ensure you can keep betting over distance. Most beginners make the most common mistake of betting impulsively, increasing stakes after a win, or trying to recover losses after defeats. Such behaviour will always lead to losing the bankroll. Proper bankroll management allows you to withstand temporary setbacks and minimise risks.

Bankroll size and strategy selection

Before you start betting, it's important to define the bankroll - the sum of money that, if lost, won't hurt your personal budget. This has to be realistic. For example, if someone can afford to set aside €1,000 a month, that becomes the bankroll. Next, a betting strategy is chosen: a fixed amount (percentage of the bankroll) per bet or a more advanced mode, such as flat betting or the Kelly criterion.

Flat betting strategy

One of the most reliable bankroll management methods is flat betting. It means placing the same stake on every event, usually 1% to 5% of the total bankroll. For example, with a bankroll of €1,000, every bet would be worth €20 (2%). Even during a losing streak, the bankroll won't be wiped out, and it will grow with a consistent profit. That's why, when I suggest a bet in our Telegram channel, I always indicate the recommended stake size.

Kelly criterion

A more advanced approach is the Kelly criterion, which helps calculate the optimal stake size based on the probability of winning and the odds value. This formula allows you to balance risk and return. However, the Kelly criterion requires precise probability estimates, making it better suited for experienced bettors and analysts. In our Telegram channel, we also take the Kelly criterion into account when recommending the sizes of the bets.

Emotional discipline

Even with a perfect financial strategy, success is impossible without psychological stability. You must control your emotions and avoid greed or impulsive betting. Never double your stake after a loss or use the so-called "chasing" strategy. A successful bettor focuses on long-term profit rather than quick wins.

Record keeping and analysis

Keeping detailed statistics is an essential part of bankroll management. Record every bet - event, odds, stake amount, result, and reasons for the pick. By analysing mistakes, you can adjust your strategy, track effectiveness, and identify profitable areas.

Distribution and diversification

Never place your entire bankroll on one sport or bookmaker. It's much better to spread your bankroll across various disciplines, leaving a part for football, and a part for tennis or, say, basketball. This reduces the risk of total loss from poor results in one area. That's also the reason why we recommend several reliable bookmakers on our website.

Conclusion

Proper bankroll management is the foundation of professional betting. It protects your funds, builds discipline, and allows you to win systematically rather than by chance. We have to remember: the goal isn't to "guess," but to earn consistently over time. Whoever controls the bankroll controls the game. We don't gamble, we earn our money.

Serge Gorelikov is a professional sports bettor whose column will be published at MightyTips weekly. He'll explain how the betting world works and talk about various aspects of the game - from the basics to advanced stuff, which will be useful to experienced bettors too. For his bets, please follow our official Telegram channel.