Sports Betting Bankroll Management
In the online gambling world, there’s something that pretty much all pros do: sports betting bankroll management. After reading through this site, if there’s one technique you adopt for use in your time gambling online at the best football betting sites, it should be bankroll management, as it really could make a massive difference to your success.
Firstly, what’s the bankroll meaning in betting? Well, essentially, it is the amount of available money you have to gamble with. This amount needs to be managed, and this is possible by only risking a set proportion of your account balance on a wager. By never overreaching, you’ll always ensure that there’s money left in your account for another day, meaning that you won’t be topping up your account.
Here’s an example: imagine you have $100 to spend in total, and you want to make a wager on a football match. We’d recommend never risking more than 5% of your account balance, meaning your wager should be a maximum of $5. Those who aren’t too hot at mathematics can use a sports betting bankroll calculator to see how much to wager.
If you were to bet larger sums, such as 20%, it would be a larger chunk of your account balance being risked – something that could see you losing everything extremely quickly.
It doesn’t matter whether you’re trying to build a bankroll for football betting, horse racing betting, or any other type of gambling – the advice on this page still counts.
Starting Bankroll for Sports Betting
If you’re looking to start a bankroll at one of the popular betting sites, the first thing you’ll need to do is deposit some money. It doesn’t have to be loads. However, it should be enough to give yourself a chance. We’d recommend around $50 to first-time gamblers looking for a good starting bankroll for sports betting.
You then need to answer this question: what percentage of your account balance should you bet? We’ve said earlier that 5% is the maximum, so those with $50 in their account should risk no more than $2.50. Don’t be tempted to go over this, even if you do think your wager is a definite winner.
If you manage to win, you’ll then have a bankroll of $52.50, meaning that you can gamble slightly more next time. If the wager is a losing one, your maximum wager will reduce slightly. Adjusting your wagers up and down is the vital aspect of sports betting bankroll management.
Working out the percentages can start to get complicated, so remember that you can use a bankroll calculator to help you.
Bankroll Management on Winning & Losing Streaks
It’s vitally important to keep a level head when building a sports betting bankroll. Regardless of whether you win or lose, you must stick to the sports betting bankroll management principles laid out on this page. Deviate from the plan and everything could easily become unravelled.
Let’s first take a look at being on a winning streak. It’s tempting to get excited and think that you can’t lose – that luck, somehow, is definitely on your side. It would be a mistake to ramp up your wagers though, as just one incorrectly sized bet can decimate your bankroll, putting you back weeks, or even months. Always remember what percentage of your balance you should gamble, even during the good times!
You will also go on a losing streak at some point, and many people then start chasing their losses. They make bigger and bigger wagers, hoping to win their money back quickly. The result? Normally they lose everything and have to start building a bankroll for football betting (or another sport) from the beginning again. Instead, adjust your wager size according to the 5% principle and keep going as before – it gives you the best chance of winning your money back.
Flat Betting System
There are many so-called “systems” that can be used in conjunction with sports betting bankroll management, and they sometimes recommend making massively different sized wagers at different points. We’re going to keep things simply on this page though, as the system on this page is called the Flat Betting System. It’s a slightly different method to use when building a sports betting bankroll, but incredibly easy.
Firstly, you decide how much to gamble. Let’s say for this article that you risk $5 on a selection. If that wager is a winner, you still place $5 on the next bet. If it’s a loser, guess what? You’ll also still wager $5 next time. This is an insanely simple technique and you won’t have to think about what percentage of your bankroll you should risk, plus you won’t need to use a bankroll management calculator.
As already mentioned, this system is just one of many that can be used when gambling at an online sportsbook. Check back at this site regularly, as we’re going to describe more sports betting systems in detail in the future.