In this article you will find some useful tips regarding proper bankroll management in sports betting.
Bankroll Management is a key factor to successful sports betting. Bankroll is the capital set aside exclusively for one’s betting ventures. The bankroll mismanagement is a serious mistake most bettors make.
The first step to proper management is to never bet more than you can afford to lose. It’s not how much money you can earn from a bet but how many times your bet will be a winning one. In betting terms, this is what you would call “profit in the long run”. Any good player aims at winning in the long run instead of occasionally winning a 4 or 5 game parlay.
Basically, you shouldn’t bet invariably or combine many events on one bet slip while wagering large amounts of money. Chasing big parlays or betting on seemingly big opportunities will only jeopardise a significant part of your bankroll.
Let’s say that you have decided to bet on three teams to win this week’s games. Instead of placing three individual bets you could link them together in a parlay. Automatically, the chances of winning are against you as there are two possible options; either you win and get your payment or you lose one game and consequently lose the entire parlay. But if you place each bet on a different betting slip and you lose one of them, you can still profit from the matches you have predicted correctly.
Ideally, it would be advisable to bet 1-5% of your capital on each bet. This might not be easy for everyone given the fact that the vast majority is seeking for quick gains.
So, if someone sets aside a capital of 1000 units, it would be a smart idea to start their betting venture with maximum 50 units in order to play it safe and increase their initial capital.
Needless to say that the amount you bet every time depends on the initial capital. Never bet more than 1-5% of your initial capital considering that betting is also a matter of luck. Moreover, remember to be careful even when you feel confident about your picks.
Start by placing small bets, mainly single bets, and you will slowly build your bankroll. Follow our advice and the results might surprise you!