Bankroll Management in Sports Betting

Consider this example: you place 4 bets on a weekend and 2 of them win (you lose the 3rd, the 4th is still to come). You’re already in profit, but your final bet is equal to it. You lose and go even for the weekend. So, even if you’ve won half of your bets, you haven’t really won any money. With a good betting plan, however, this could change.

These kinds of situations (or even worse ones) are the main reason why you need to set a limit on your bankroll and stick to it. A good betting plan can make all the difference between losing and winning money. Setting your bankroll before betting will limit your choices a bit, but if it brings you a profit, it’s definitely worth it.

A betting plan and limited bankroll will prevent you from getting carried away and keep your losses at a minimum. Of course, it requires a lot of discipline, but it will help you establish some rules you will get used to in order to become a better punter in the future.

What’s Bankroll Management?

The bankroll is essentially the sum of money we’re planning to spend on a betting session. The betting or staking plan is essentially a set of rules you establish yourself for your betting exploits. You can make up your own, but there are many already created you can easily apply yourself. Once you’ve set the limits and decided on a staking plan, you can start betting.

We’ve all been in a good or bad punting streak. Whenever you’re winning, you’re surely satisfied. However, many punters start increasing their stake after a string of losses, hoping to win back their money with a single win.

Chasing your losses is an extremely dangerous gambling habit. Although it might work for some people, it’s hazardous and usually ends up bad. Your chances of winning everything you’ve lost in the previous round are slim at best. If you stake everything you have left on one win that can make it or break it, you have to be aware that you’re risking our whole bankroll.

This is where a staking plan comes in. It will keep your losses at a minimum and help you stay in the game for longer, which is what every punter hopes for.

What’s the Percentage Method?

The percentage method is a simple staking plan. It only requires you to set a percentage of your bankroll you’re going to use on every single even money bet. It can be anything from 1-5% or even more if you’re feeling confident. It will keep your losses at a minimum, but sometimes, you’ll waste a good bet on lower odds and you may also get stuck in a losing rut, potentially losing a lot of money.

What’re Fixed Staking Plans?

Fixed staking plans are as simple as it gets and are great for beginners, unlike variable staking plans. When using a fixed staking plan, you can either use level staking or percentage staking plan – in each of them, you follow a fixed formula for your bets.

If you use a level staking plan, you set a general bet size for all your bets and stick to it. On the other hand, a fixed percentage staking plan requires you to use a fixed percentage bet of your overall bankroll for each one of your bets (for example 2 or 3%). Both are simple to follow for inexperienced punters, so if you’re only now entering the world of sports betting, we suggest you start with them.