What is a Bankroll?
A Bankroll is the money you have set aside for betting purposes only, this can be $100 or $100,000 everyone’s will be different. The money you have set aside is small enough so as that if you lost the lot it wouldn’t affect your day to day life
How much to bet?
We recommend you bet 1% of your bankroll per bet. So for example, if you start with a €500 betting bank, you will be betting €5 per bet. This strategy will mean that you will be able to weather the ups and downs of the sports betting World
If you’re not following this strategy you run the risk of blowing your betting bank during a losing streak, every professional bettor has bad losing streaks, this negative variance is unavoidable even for the most trusted and tested betting models.
Bookies want you to place Accumulators and multiple bets because this increases the “House Edge” in their favour. Stick to placing single bets only so you can give yourself the best possible chance of profiting long-term
If you’re not taking the best possible odds available on a bet you are going to miss out on substantial profit in the long-term. Use odds comparison sites like Oddschecker and shop around for the best possible odds before betting
Track your Bets
Tracking your progress over time will give a better idea of where you are having success and where you are not. If starting off I recommend a simple spreadsheet or a free service like Bettin.gs
The purpose of this article is to make you aware of just how vital bankroll management is.You MUST give some consideration to bankroll management when betting on sports, regardless of whether you bet seriously or just for fun. If you don’t, you risk losing money