{"id":9639,"date":"2024-08-19T16:12:32","date_gmt":"2024-08-19T16:12:32","guid":{"rendered":"https:\/\/bettingsitesreviewed.co.uk\/?page_id=9639"},"modified":"2024-08-19T16:13:11","modified_gmt":"2024-08-19T16:13:11","slug":"bankroll-management","status":"publish","type":"page","link":"https:\/\/bettingsitesreviewed.co.uk\/responsible-gambling\/bankroll-management\/","title":{"rendered":"Bankroll Management Strategy & Tips"},"content":{"rendered":"

Bankroll management is the practice of creating and using a budgeting system to help manage the money in your betting account effectively. We\u2019re going to reveal everything that you need to know about how to utilise this strategy to your advantage.<\/p>\n

Why Do I Need Effective Bankroll Management?<\/h2>\n

\"bankroll<\/p>\n

A reality of gambling is that sometimes a bet will lose. Another reality is that sometimes you can have a bad run of luck and suffer a few losing bets in a row.<\/p>\n

Neither scenario needs to be a disaster, but it can be if you have a poor bankroll management strategy in place, or worse still, none at all.<\/p>\n

Let\u2019s say for example, that your betting account has \u00a3100 in it. You decide to place a bet and use the \u00a3100 as your stake. Should that bet lose, you will have wiped out your entire bankroll with just one wager.<\/p>\n

You don\u2019t want to have to be constantly depositing funds to betting sites<\/a>. So whatever the size of your initial bankroll, make sure that your bet stakes are set at a sensible level.<\/p>\n

A golden rule of betting is not to stake more than you can comfortably afford to lose. In terms of protecting your bankroll, there are a number of different staking systems that ensure that you can suffer a few losses, without having to worry about being wiped out.<\/p>\n

Benefits of Bankroll Management for Sports Betting<\/h2>\n

There are lots of benefits to keeping stake levels to a sensible amount with a bankroll strategy and good betting practices. An obvious one is that by making bets that are appropriate to your bankroll size, you have more of a chance of preserving your bankroll, even if you have a run of losing bets.<\/p>\n

If you had a bankroll of \u00a3100 and stuck to bets with a stake of just \u00a31, you could have 100 consecutive losers before you fully wiped out the bankroll. You\u2019d have to be very unlucky for that to be the case!<\/p>\n

By being relatively conservative with the level of your lowest stakes, it\u2019s not so vital that your bet wins. That gives you scope to be more experimental and to try out a new betting strategy, or a different market.<\/p>\n

It also makes the process of betting more fun and less stressful. You don\u2019t want to be in a position where you\u2019re worried about a bet losing. You should instead be hoping that it wins, safe in the knowledge that it doesn\u2019t really matter if it is a loser.<\/p>\n

Proper Bankroll Management Strategy That Works<\/h2>\n

We have some advice that will help you with responsible gambling<\/a> and to form an effective betting bankroll management strategy.<\/p>\n

\n

Avoid Exotic Bets & Straight Accumulators<\/h3>\n

So far, we\u2019ve mainly discussed preserving your bankroll by means of sensible staking. Yet another method is to simply stick to sensible bets. Exotic bets, accumulators and Bet Builders<\/a> are fun wagers that can have temptingly big odds, but those odds are large for a reason.<\/p>\n

Bookmakers are confident in offering these types of bets with large prices, even though they could potentially cost them a lot of money. It\u2019s because more often than not, these sorts of bets will lose.<\/p>\n

We\u2019re not saying that you should never take such a risk, but to be sparing. Generally, stick to sensible bets, that you think have a strong chance of winning.<\/p>\n<\/div><\/div>\n

\n

Bet in Units<\/h3>\n

A common method of bankroll management is to bet in units. This often involves your stakes representing a certain percentage of your total bankroll. Say you had a bankroll of \u00a31,000, for example. You might decide that a single unit would be 1% of that bankroll.<\/p>\n

That would mean that at first, a single unit bet from that bankroll would have a stake of \u00a310. If the bankroll grew with winnings, then the 1% unit size would grow. So, with a bankroll of \u00a31,200, a 1% single unit bet would be \u00a312. Or if the bankroll decreased, so would the value of the stake.<\/p>\n

With a bankroll of \u00a3800, a 1% bet would have a stake of \u00a38. This fluid method means that your level of risk decreases if you have a bad run and increases if things are going well. It creates a good balance between protecting your bankroll and cautiously increasing your risk when appropriate.<\/p>\n

You can also adjust your level of unit per bet. If for example you were confident, you could place a 2% unit stake, while if you had doubts, you could decrease it to 0.5%.<\/p>\n<\/div><\/div>\n

\n

Don’t Chase Losses<\/h3>\n

If you\u2019ve had a bad run, it can be tempting to try and win back what you\u2019ve lost. This can lead to bettors making emotional decisions, placing bets based on the odds, potential winnings or simply backing your favourite team.<\/p>\n

A successful sports bettor will resist this temptation, accept that losses are inevitable and stay disciplined. Stick to your staking system and only place wagers where you think you have a strong chance of winning.<\/p>\n<\/div><\/div>\n

\n

Flat Betting vs Percentage Betting<\/h3>\n

When we discussed betting in units, we discussed how to do this using a percentage of your bankroll. Another system used by many a profitable bettor is flat betting. With this system you select a level of stake and stick to it.<\/p>\n

So say your current bankroll is \u00a31,000. You might decide that each bet should be 1% of that bankroll, which is \u00a310. You then stick to \u00a310 being your level of stake, regardless of whether you\u2019re successful and build a larger bankroll, or if the bankroll decreases in size.<\/p>\n

A disadvantage of this system is that having the same bet size regardless of the size of the betting odds, doesn\u2019t always make sense.<\/p>\n<\/div><\/div>\n

\n

Use the Kelly Criterion<\/h3>\n

The Kelly Criterion<\/a> is a mathematical formula used by many a seasoned punter. It is a system that helps to decide how much to invest in an asset to maximise wealth growth and can be applied to both financial trading and betting.<\/p>\n

When it comes to online gambling, the formula looks at the odds and considers the implied probability of winning and losing, to decide your stake. The formula is as follows:<\/p>\n

f = (bp \u2013 q) \/ b<\/strong><\/p>\n

\n
    \n
  • <\/svg> f<\/strong> is the size of the bet represented as a percentage of your bankroll<\/li>\n
  • <\/svg> b<\/strong> is the decimal odds of the bet<\/li>\n
  • <\/svg> p<\/strong> is the probability of the bet winning<\/li>\n
  • <\/svg> q<\/strong> is the probability of the bet losing<\/div><\/li>\n<\/ul>\n<\/div><\/div>\n

    FAQs<\/h2>\n
    \n
    \n
    \n

    Is bankroll management just for professional bettors? <\/h3>\n <\/div>\n
    \n

    Anyone looking to become a profitable sports bettor should utilise a bankroll management system. If you are betting on a regular basis, then it makes sense to have some kind of staking system in place, which will help to preserve and grow your bankroll. \u00a0<\/p>\n <\/div>\n<\/section>\n\n\n

    \n
    \n

    How much should I open a betting account with? <\/h3>\n <\/div>\n
    \n

    You should start with an amount that you can afford to lose. Depending on your personal finances, that could be a relatively small amount or a large sum. The size of your bets should be reflective of your bankroll size. You don\u2019t want to potentially lose your whole bankroll with a single wager.\u00a0<\/p>\n <\/div>\n<\/section>\n\n\n

    \n
    \n

    What determines the size of my bankroll? <\/h3>\n <\/div>\n
    \n

    At first, when you make your initial deposit, it will come down to how much money you can afford to bet with. Don\u2019t deposit more than you could comfortably afford to lose. If your bets are successful, you will see a return on investment and your bankroll will grow, while the opposite is true.<\/p>\n <\/div>\n<\/section>\n\n\n

    \n
    \n

    How often should I adjust the size of stakes?<\/h3>\n <\/div>\n
    \n

    Some strategies automatically adjust the size of your staking. With a unit-based percentage system, your stakes will rise or fall in line with that of your bankroll. Or there is the Kelly Criterion which is a formula that decides the stake for you, based on the chances of winning\/losing.\u00a0<\/p>\n <\/div>\n<\/section>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

    Bankroll management is the practice of creating and using a budgeting system to help manage the money in your betting account effectively. We\u2019re going to reveal everything that you need to know about how to utilise this strategy to your advantage. Why Do I Need Effective Bankroll Management? A reality of gambling is that sometimes … <\/p>\n","protected":false},"author":20,"featured_media":0,"parent":9127,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"class_list":["post-9639","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"\nBankroll Management Guide - How to Handle Your Betting Account<\/title>\n<meta name=\"description\" content=\"Complete guide to bankroll management. 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