Bankroll Money Management in Sports betting
Being successful in betting on whatever games you are interested in is the thing which you need to earn significant amount of money. Always picking the winners is absolutely crucial. However, there is a more important thing which you need to consider, which is money management. If you are doing betting as one of your regular activities, you will realize that winning and losing are two inevitable things. In fact, you can have both long winning and losing streaks over the year. These will happen. If you experience winning streaks, you are golden. But then you will need to handle the losing streaks, which are pain in the a**.
With money management, you will be able to survive from losing streaks. Experienced bettors are excel in managing their money. Surely you don't want to be reckless bettors. So how to manage your money?
Set the Bankroll
The first and foremost rule of managing your money for betting is that you should set aside a bankroll which is purposely designated for betting. Mixing your money with other necessities will make you difficult to keep tracking of your funds for betting.
After setting the money for sports betting bankroll, you will need to determine the unit size you will utilize. Although there is no exact unit size, you can always stick to this suggestion. For larger bankrolls, the recommended unit size is in the range of 1 up to 3 percent of the bankroll. This way, you can use 1% for conservative betting, and 3% for more aggressive betting. If you have smaller bankrolls, you should omit 1 -3 % unit size. The recommended size is 5 up to 8 percent.
Don’t Change Your Unit Size
If you are fond of the matchup it is intriguing to increase your unit size. You may want bet larger amount of your bankroll on it. However, don’t get caught with this temptation. It is safe to stick to your unit size in every matchup. Monitor your bankroll really carefully. Assess your bankroll status so that you can calculate your unit size.
Experienced bettors win about 58 up to 60 percent of the time. That means they can lose 40% of the time. Maintain that percentage so that you will get tangible profit.