Managing your bankroll in Sports Betting

April 8, 2021 10:10 am

Betting is becoming one of the fastest-growing ways of entertainment. This is because as you have fun with the sport, you get to earn money.

But as the saying goes, no risk, no gain. You have to gamble with your money to win. If you are a pro gambler or an amateur, you need to learn how to set your betting budget and how to manage your funds. Below are some strategies on how to set your betting budget.

1.Decide the size of your budget

How much should you deposit in your wallet or sportsbook? This answer mainly depends on your financial capacity and also the amount you are comfortable with. Remember, never bet on a sum too large that you can’t afford to lose. Assess your financial situation logically and realistically to determine what you can’tlose. Once you’ve figured out the amount you can lose, you can now choose an accurate figure with regards to the time you will spend betting. For example, will you be betting 4 -5 times a year on major sporting events or will you be getting it daily? Betting four times entails you invest less compared to daily betting. Remember to stick to your plan.

2.Choose the amount you will be placed on a bet

Once your budget is made, you need to come up with a percentage of the budget that you will be placed on any event. The standard one is always 1-2% of the budget. Aggressive and confident players can bet with amounts up to 3% of their bankroll. If you trust your guts to win you a lot, you can bet up to 4-5%. It’s best to keep it standard because this allows you to stay disciplined on the gambling game.

3.Keep track of your games.

Knowing what games you perform better will help you select the best game to wager on. Keeping a record will help you know if you are making profits or losses and which games are causing you the most losses. This can be a game-changer in your betting career.
With these facts, you can now create a betting plan for a week or a month or an annual one. Just remember to always stick to the plan you’ve set out. Don’t ever let the excitement of betting cloud you to bet outside your plan.