Bankroll Management: Protect Your Betting Budget

Proper bankroll management is the foundation of successful sports betting. Learn professional strategies to protect your funds and maximize long-term profitability.

What is Bankroll Management?

Bankroll management involves setting aside a specific amount of money for betting and implementing rules to protect that money from unnecessary losses. Your bankroll should be money you can afford to lose completely.

Setting Your Bankroll

• Start Small: Begin with an amount you're comfortable losing entirely
• Separate Funds: Keep betting money separate from living expenses
• Regular Assessment: Review and adjust your bankroll monthly
• Never Borrow: Never bet with borrowed money or credit

The 1-3% Rule

Professional bettors typically risk only 1-3% of their bankroll per bet:

• Conservative (1%): For new bettors or low-confidence bets
• Standard (2%): For regular betting with medium confidence
• Aggressive (3%): For high-confidence bets only

Kelly Criterion

The Kelly Criterion is a mathematical formula used to determine optimal bet sizing:

Formula: f = (bp - q) / b

• f = fraction of bankroll to bet
• b = odds received on the wager
• p = probability of winning
• q = probability of losing (1 - p)

Record Keeping

Maintain detailed records of all your bets:

• Date and time of bet
• Sport and event details
• Bet type and odds
• Stake amount and potential return
• Result and profit/loss
• Running bankroll balance

Common Bankroll Mistakes

• Chasing Losses: Increasing bet sizes after losses
• Betting Too Much: Risking more than 5% on single bets
• Emotional Betting: Making decisions based on feelings
• No Stop Loss: Not having limits for daily/weekly losses