Managing Your Bankroll Explained

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Veteran gamblers understand the importance of effective bankroll management. This page explains the concept of a bankroll and provides tips on how best to manage it.

What is a Bankroll?

A bankroll is a sum of money that you will dedicate to sports betting over a specific period, such as a season or a calendar year.

This should be money that you could afford to lose if you have a terrible season. It should not be money needed for paying your bills, feeding your family and so on, nor should it be borrowed money.

How to Manage a Bankroll

Bankroll management generally requires you to assign a specific percentage of your bankroll as a base unit.

Some cautious bettors go for 1%, while others push it to 5%. Many stick to around 3%. For example, if your bankroll is $2,000 and you go for a 3% unit, you would start out by placing $60 bets.

You can then keep the same base unit dollar amount throughout the season, but most bettors stick to the same percentage. For example, if you start with $2,000 and you win $200 in the first week, you will be placing $66 bets the following week.

That ensures you place larger bets when you are on a roll and smaller bets when your bankroll is shrinking, which helps you stay in the game long enough to turn things around.

Advanced Bankroll Management

If you are placing bets where the chances of success are roughly 50/50, you can apply a betting system to your wagers.

These systems can be divided into two groups: positive progression systems, where you increase your bet amount after a win; and negative progression systems, where you increase your bet amount after a loss. Examples include the Martingale System and the Paroli System.

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