Two of the major factors to becoming a successful long term sports bettor is being able to recognise value in a given market, and the second is how to manage your betting bankroll. The name of the game is minimizing risk in order to attain profitable success. Being able to recognise value in markets comes with experience, research, or some type of statistical model assessing the probability of outcomes. Once this value has been identified, the question is then how much should you invest on the bet to make the most but also limiting risk. Below we will go over some of the more popular forms of money management in hope to protect your bankroll. Regardless of your experience level as a sports bettor this article should familiarize you with some of the most popular betting bankroll management strategies. You will have a better understanding of the fundamentals behind successfully managing a profitable sports betting portfolio. Maybe even increasing your chances of becoming part of the small percentage of sports gamblers with long term profits.
Your bankroll is the amount of money you are willing to invest in sports betting. Alternately this money could be considered the amount you are willing to risk betting on sports events. In the beginning you should start with a bankroll that allows for consistent growth.
Some bettors would say that the amount you bet is more important than what you’re actually betting on. Understanding how much money you should bet is commonly referred to as “staking” and is often ignored way to often by casual sports bettors. There are different methods and approaches you can take when developing a staking plan, but being discipline leads to the most effective results. We have listed the most commonly used methods and how to implement them in your sports betting strategy in hopes to become more profitable.
Fixed stakes is one of the easiest methods for bettors to follow and is popular among people looking for reduced risk in an easy to adhere nature. The method involves using a set amount each time you place a bet. The amount should be dependant on how large your bankroll is and what you are comfortable betting. For example, someone who has 1000$ in their portfolio may decide to bet 50$ each bet. While this may take some time to significantly increase your bankroll you eliminate any chance of losing your entire bankroll. This method is commonly used by moderately experience and experienced bettors. With a large volume of bets and small returns the accountability for this method is very straightforward and can lead to large long term profits.
Martingale betting is based on the odds you are betting on with a desired amount of winnings. Similar to fixed betting where you always bet a certain amount, Martingale betting has a goal of winning a certain amount.
|Odds 1.5||Bet $200||Profit $100|
|Odds 3.0||Bet $50||Profit $100|
|Odds 2.0||Bet $100||Profit $100|
|Odds 6.0||Bet $20||Profit $100|
Varied betting takes a ton of discipline from the sports bettors in order to work properly. Placing bets within a range of values compared to other methods with standard staking provides more flexibility for the bettor. Not every bet is placed with the same level of confidence and this method takes this into account. In staking you limit yourself to placing bets worth 1-5% of your bankroll and the percentage is based on the confidence you have on the bet. This method ensures you won’t lose your entire bankroll in one shot, but does force the bettor identify the amount of risk in each bet.
Aside from “Rolling” this is one of the most risky forms of betting. This method has limited parameters but instead is based upon the notion that if you lose a bet, you increase your stake on the next bet to cover the amount lot on the previous bet. If the next bet loses, you increase the stake again and if it wins it will cover the amount lost in the first two bets. This process will continue if you have unlimited bankroll, and is guaranteed to make you money. However if you are like 99% of the world and do not have an unlimited amount of money to risk sports betting than this may not be the method for you.
This form of staking is becoming more popular amongst risky bettors willing sacrifice their bankroll in hopes to win big. This method begins by betting your entire bankroll at once and when/if you win you proceed to do the same on the next bet. Obviously if successful this strategy can lead you to exponential profits, however at the same time one losing bet will end you journey in an instant. Usually bettors who take on this method set a target value and once they reach that value they stop, and start again with a smaller amount.
The theory behind proportional betting is very similar to varied bets but with a standard percentage being set no matter the size of your bankroll. Bettors who successfully use this method execute bets where the bet should be your edge divided by the odds. For example if you have a 10% edge and your current bankroll is $1000 than you should bet 100$. If that bet turns out to be successful then your bankroll would have increased to $1100 therefore making the next bet you place $110. This decreases the impact of losses while positively increasing the chance of growth to your bankroll over time.
After thorough testing and analysis on all of the above methods we have come to conclusion that the safest methods for long term success would be proportional and fixed wager staking methods. As mentioned in the description for proportional betting the risk is managed by staying in the fame for a long period of time increasing your chances with every bet place. Imagine being down to your last $100; the rules of proportional betting would force you to bet $10 on your next bet and having at least 8 more opportunities to get back on a winning streak. Fixed betting is also a very safe method of betting and provides high security to your bankroll. Profits may take longer to attain using the fixed wager method but it almost guarantees bettors with any type of experience and market knowledge some form of long term profits. Eliminating the chance of losing large portions of your bankroll in short periods of time which will provide comfort to most beginners.
Our personal experience using each one of these methods proves that each staking method has vastly different outcomes. The difference between having one opportunity betting everything at once and instantly losing your entire bankroll hoping for a massive return can be found in a solid staking method. In our opinion having 500+ opportunities and gradually growing your bankroll one week at a time through smaller bets makes more sense to anyone with a limited amount to invest in sports betting. It is very important to stay dedicated to your staking method and choose it carefully based on the sports, markets, and leagues you are plan to bet on.