The Definition of Bankroll
Your bankroll is how much money you have decided to separate for your betting activities. Whether you are a recreational bettor or a professional one, you will always have a bankroll to manage.
Define Your Goals
It is imperative to understand what your intentions towards sports betting are when you are going to organize your bankroll across the betting weekends and evenings.
If you are betting for fun, then your bankroll will need to be managed to make the fun last as long as possible, and the precautions and practices will be entirely different in comparison with punters that want to profit in the long run.
Whether you are betting for fun or trying to seriously profit, it makes no sense to bet like 50% or 100% of your bankroll at a single bet: if you do that and lose you will need to be constantly uploading money into your account which always takes some time. We suggest uploading a more significant amount of money and divide your bets into smaller percentages – that way you can also enjoy the welcome bonus in a rather profitable way.
We recommend a look at our article about stake size which has detailed information about that topic, but the most important concept of that article right now is to understand that average bets are normally in the house of 5% or 10% of your total pool of money available.
Making the Bankroll Grow
If you are developing skills to become a professional punter (the profession exists and we recommend a look at our article about it), you will need to take care of your bankroll.
The best way to do that is to place bets in a smart way.
Let’s say that you place 6 simultaneous bets of 5%. You are effectively ‘risking’ 30% of your bankroll. Let’s suppose that you bet 6 times with odds of 2, and you won just 2 of those bets. You effectively lost just 6% of your bankroll. If you had bet like 12% on every stake, you would have risked your bankroll in a dangerous way.
The same applies to good days, if you had won 5 out of 6 bets, you would have increased the size of your bankroll. In that case, you could decide to cut a small part of the bankroll as profit for your personal expenses or reinvest it and recalculate the stake size.
The professional bettors and the big syndicates take good care of their bankrolls and only ‘harvest’ money when the bankroll is ready to ‘give’ a portion of this money pool without hurting your capacity to collect value through betting on valuable odds in a repeated way.
Regardless your long-term method, i.e. whether you focus on sports expertise or mathematical methods like statistics or models, bankroll management will affect your betting activities the same way and it’s imperative to take good care of your bankroll to profit in a sustained way over the seasons.