Posts Tagged ‘poker bankroll’

Sports Betting Bankroll Management

It is profitable to make money from online sports betting, but a lot of this depends on how well you utilise your bankroll and limit your financial exposure. It’s just like financial trading really, even if you “feel” a certain stock is going to rise by the end of the day, you have to limit how much you invest. You cannot be risking what you cannot afford to lose. Hence why in poker bankroll management professional players will only risk 5% or less of their total bankroll in each game.

In sports betting, you have to realize that just because you think a team will win or lose, it doesn’t mean you can afford to risk half of your entire bankroll. Sports betting and financial speculating do not work like that. Earning money through sports betting is a marathon – it is a bit like the football teams winning the English Premier League. You don’t make your profit by betting large amounts on high odds, you do it by grinding out results over the season and getting more bets right than you did wrong.

A general rule in sports betting is to only wager 1%-3% of your entire bankroll at a time. This means that if you have a maximum bankroll (the amount that you’re prepared to commit and lose) of $1,000, then you only be staking a maximum of $30 at a time. This is very important.

Professional NFL punters, who make money from betting on the NFL, only have a win-rate or margin of 50-56% on average. This means that they’ll predict just over half of the matches that they bet on correctly. Over the course of a season, if you bet too much per game, and lose a few games in a row (which is entirely possible), then you will end up risking a huge portion of your bankroll and you might not be able to recover from it.

Depending on your insight and knowledge about a particular game, alone with your recent winnings, you can vary how much you wager. If you are very confident of the end result and you have a very strong feeling about something then you can afford to risk the higher end of your bankroll (up to 3%). On the other hand, if you’re not entirely confident or betting on a team which you don’t know much about or that has played very inconsistently in the past (or there’s a lack of heads up information) then you should only part with 1% of your bankroll.

Generally, sports betting bankroll management isn’t hard or difficult to understand. What is hard however is to actually execute this theory and discipline yourself to limiting how much you wager with. Any sports betting fan can get over confident and start wagering silly amounts (e.g. 10% of their bankroll), only to lose a lot of money and have taken 2 steps forward 10 steps backwards. Stick to a plan, stay disciplined, don’t get emotionally involved and make smart wagers – that’s the key to successful online sports betting.