This guide is designed to assist bettors on understanding bankroll management betting strategy and ultimately help bettors to increase their long term gains. Commonly this betting strategy is applied to sports betting, but is transferable to other betting opportunities such as poker.
Table of Contents
Bankroll Management Four Steps
The first step is to split your bankroll from your own personal money in the bank. Have a separate balance exclusively set aside for betting, that way you can stay in control and are only ever betting what you can afford, stick to this and don’t try and win any losses back immediately.
The second step is to divide your bankroll up, we recommend a points based system for all of your bets, We recommend dividing your bankroll into 100 or 200 points, but this is your decision. When placing a bet, each bet we recommend a bet between 1 to 5 points. So for illustration purposes, based on 100 points system, if your bankroll was a total of £250, each point would be worth £2.50.
So for example if you bet a horse to win at 5 points, on this illustrated bankroll you would place a bet of £12.50, which is effectively 5% of your total bankroll. This type of points system (lower risk) is designed to keep your bankroll in tact for when you have a string of bad results, which will inevitably happen.
The third step is down to you, do your own research & due diligence prior to making a bet, the large betting sites have many markets to get involved with – the most popular may not be the most profitable, and always look for good value. There are also many betting tipsters out there, some free, some subscription, again, be careful and ensure you still do your own research, many of the “tipsters” are actually losing bettors over the long-term..
The fourth step is to take advantage of increasing your odds or profit at every opportunity. For example, you may want to switch your bankroll regularly to a new betting site, and take advantage of new customer offers. The additional funds and free bets from these opportunities can reduce risk and increase profitability. Also take advantage of sports betting sites special promotions and odd boosts.
Bankroll Management Conclusion
Remember these are just some tips for bankroll management. Remember to keep it fun and always bet on markets that you are familiar with. If you are looking for a wide selection of bookies to open accounts with for your betting, it might be worthwhile visiting the best online bookmakers UK
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