Why Bankroll Management Matters
Most new sports bettors focus only on picking winners, but betting strategy goes beyond making good picks. Even the best bettors in the world go through losing streaks, and without proper bankroll management, they wouldn’t survive long-term.
🔹Bankroll management ensures that you can keep betting long enough to profit over time.
🔹It prevents you from going broke due to poor decision-making or bad luck.
🔹It helps eliminate emotional betting and reckless wagering.
What is a Bankroll & How Much Should You Bet?
Setting and understanding your bankroll is the first step for any sports bettor. Once you know how to bet, getting excited and firing is easy. That's a poor strategy, and all bettors should start their journey by setting a bankroll, also known as the maximum amount of money you are willing to lose gambling.
What is a Bankroll?
A bankroll is the total amount of money you set aside exclusively for sports betting. You should be comfortable with losing this amount, and losing this amount should have no impact on other financial needs.
✔️ Your bankroll should be separate from daily expenses, savings, or emergency funds.
✔️ Never bet money you can’t afford to lose.
Setting your bankroll is any gambler's first step before placing a sports bet.
How Much Should You Bet Per Game?
Most beginner sports bettors use a unit system to determine how much to wager on each bet. A unit is derived from your bankroll.
✔️ Standard Rule: Bet 1-3% of your total bankroll per wager.
✔️ Most intermediate bettors stick to betting 1-3% per bet to limit overexposure
✔️ Do not increase your units during a short hot streak.
Example: If your bankroll is $1,000, a safe bet size would be $10-$30 per wager (1-3%). This ensures you don’t burn through your bankroll too quickly, even during losing streaks.
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Betting Units – The Key to Smart Bankroll Management
Units are the best way to stake your wagers for newer sports bettors. After you set your bankroll, the next thing to do is to determine how much you should stake per bet, depending on the odds of the bet.
What is a Betting Unit?
A betting unit is a standard way to measure bet sizes relative to your bankroll. Instead of saying, "I bet $50 on this game," a bettor might say, "I bet 1 unit."
✔️ Most bettors define 1 unit as 1-3% of their bankroll.
✔️ Units help compare performance across different bankroll sizes.
✔️ Using units prevents overbetting and emotional decision-making.
These are just guidelines, and there are more advanced ways to stake units we will talk about in future articles. That said, this is the best place to start betting if you are just getting started.
Example: If a bettor with a $10,000 bankroll uses 1% per unit, their standard bet size is $100. If another bettor has a $1,000 bankroll and also bets 1 unit, their bet size is $10. The unit system allows both bettors to manage risk properly regardless of their total bankroll size."
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Flat Betting vs. Percentage-Based Strategies
The unit system is a simple yet effective way to manage your bankroll, especially as a beginner or intermediate sports bettor. More advanced sports bettors may use other betting strategies, like percentage-based or the Kelly Criterion. We will discuss these topics in more detail in this course's “Advanced” section.
Flat Betting Strategy (Best for Beginners)
Flat betting ties in well with the unit system, and it is the simplest way for newer sports bettors to practice responsible gambling immediately.
✔️ Betting the same amount (e.g., 1 unit) on every bet.
✔️ Great for casual bettors who want long-term sustainability.
✔️ Prevents chasing losses or making emotional bets.
Percentage-Based Betting (For More Advanced Bettors)
Percentage-based sports betting is more complex. The odds on an event matter, and understanding odds is crucial for percentage-based betting. As you become more comfortable with odds and with calculating edges, transitioning to percentage-based betting is recommended.
✔️ Betting a different percentage of your bankroll (e.g., 2%) instead of a fixed amount.
✔️ More dynamic than flat betting – bet sizes increase when you see more value and decrease when you see less value.
✔️ Used by professional sports bettors to maximize long-term growth.
Some professional bettors use the Kelly Criterion or a fractional version to adjust bet sizing based on edge. We cover this in the Advanced section.
Example: With a $1,000 bankroll, a 2% stake means your first bet is $20. If you find a bet with a bigger edge than your 2% bet, you may bet 3% on this bet while betting 2% on the others.
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The Psychology of Sports Betting
Sports betting can be complicated, overwhelming, and sometimes frustrating. Keeping a level head is just as important as placing the correct bet. With so much emotional fluctuation, keeping calm is crucial.
Why Emotional Betting is Dangerous
It's easy to get fixated on the highs and lows of every single game you bet on. Making emotional decisions is one of the worst things newer sports bettors can do.
✔️ Chasing losses leads to bigger, riskier bets.
✔️ Overconfidence after a win leads to careless bet sizing.
✔️ Betting on your favorite team often leads to biased picks.
How to Stay Disciplined
To avoid these pitfalls, you need to work on being disciplined. There will always be another game and another edge to bet. There is no need to fire your entire bankroll on one event or over the course of a day to win back losses from previous days.
✔️ Track Your Bets – Seeing long-term results prevents reactionary decision-making.
✔️ Follow a Betting Routine – Set betting days and avoid spontaneous decisions.
✔️ Limit Social Media Influence – Don’t let public narratives or social trends dictate your bets.
Example: Many bettors feel the urge to bet more after a bad loss. The best strategy? Stick to your unit size and avoid impulsive decisions. Hot and cold streaks are inevitable.
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Responsible Gambling & Recognizing Problem Gambling
Sports betting is not easy. There are a plethora of fallacies and bad practices that new bettors may engage in that can have severe consequences. Being aware of responsible gambling concepts and recognizing problem gambling early can be life-changing.
✔️ Signs of Problem Gambling:
Betting more money than you can afford to lose.
Chasing losses to recover lost bets.
Neglecting work, relationships, or responsibilities due to betting.
✔️ Responsible Betting Practices:
Set deposit limits to control spending.
Take breaks and don’t bet on impulse.
Seek help if gambling is affecting your personal life.
Example: If you ever feel like sports betting is becoming stressful instead of fun, set deposit limits or self-exclude from sportsbooks temporarily.
