Bankroll management is one of the most important aspects of being a successful sports bettor.
How you decide to manage your bankroll will make the difference between a winning player and a losing player.
Being consistent and disciplined with your bankroll will help you ride out the inevitable ups and downs that come with sports betting.
If you choose to pick sports betting as an extra income you need to understand that it’s a long process, and that money can’t be won overnight.
Your main focus should be that you need to protect your bankroll without reloading your account and grow it responsibly.
So for the first thing you need to decide how much you will have in your bankroll.
Do not bet your rent money. The money that you do not have or do not afford. Do not borrow money to bet. The money from your bankroll must be like some extra money or hobby money.
How big should my bets be?
Whether you decide to go staking with 1%, 5% from your bankroll, or somewhere in between, that amount would be considered your standard “unit” size. If you have started with 1% than you will bet constantly 1%, if you choose 5% then you will bet 5% all the time.
Do not bet different amounts, for example today 50$ tomorrow 200$. If you win the 50$ one and lose the 200$ it will be a disaster.
Do not chase:
– Do not bet on the same day if you lose, by trying to recuperate when you go on tilt, you will lose more and it will be very difficult to recuperate.
– Never bet with your heart
– Don’t do parlays, use single bets so you can have a higher hit rate.
If you find yourself tilting, tilting happens when you are betting the money that you don’t have, or you are betting too much per day.
‘Tilt’ in betting describes an episode during which the player can no longer control their game by rational decisions. It leads to a loss of control over the game, a loss of emotional regulation, higher cognitive distortion, and a loss of money
Use a strict betting schedule and respect it, if you do not respect it, you basically do not respect your money.
– Place ONLY 1 Bet per each day for a period of one month, this way you can control the tilt on maximum.
– Or use a professional betting advisor and follow his predictions, a good ROI is 7-10% per month.
When you calculate your profits, you need to calculate it in a minimum frame 3-6 months in order to understand how you perform. Because in sports betting there are constantly ups and downs.
Do not follow the bankroll money daily/constantly, it will get you tilted.
You can always hide the bankroll and check it at the end of the month for example, and fully focus on the 1 bet per day method and to bring more value instead of thinking on the money.
In the end, it’s all about bankroll survival, the key is not to invest more reload money and do a little discipline and you are all good.