Betting Bankroll Management

Betting Bankroll Management

Betting Bankroll Management

Getting your betting finances in order is important and will significantly improve your betting in the long run.

1 Starting Out.

A betting bank is best established at the start of the year or the start of a new season and your planned staking system strictly followed. Betting your entire bankroll is never a good idea. However confident you are about the outcome, bad results happen and it can leave you with nothing left to claw back your losses.

The key to managing your betting money is to bet sensibly, have a strategy and then stick to it.

2 Discipline - Common Mistakes.

Not having discipline with your bets is something that lets many people down. Betting too much on one event because you think the outcome is certain is a common mistake. As is chasing losses, everyone suffers losing streaks. Never increase your stakes in an attempt to try and win back your losses in a short space of time. That's a recipe usually ending up with you having no money left at a very fast rate.

3 Level Stakes - % Of You Bankroll.

Having a betting bank allows you to stake set proportions of you bank on bets which reflect your confidence in the selection's chances. Your staking plan should be simple and geared to long-term profit making. It is suggested that no more than 5% of your bank is used on any bet, with the majority of your bets falling below that top level.

The Pyramid is a well known staking plan, but not recommended as the stakes can soon get out of control. In the Pyramid, stakes are increased after every losing bet, if the odds are evens or better.

Pyramid Example

You bet 10 and lose

So you bet 20 but that loses

So you bet 40 and that loses too

You bet 80 and that wins.

Making you 80 profit on your final winning bet which after the previous 3 losses of 10, 20 and 40 = 70, leaves you with 10 profit.

4 Bet Logging.

It is essential to log every bet you make. A glance at your betting records every month will help you to highlight areas of strength and weakness with your bets. Showing up indiscipline with your staking plan and stupid bets made when you have had a big loss.

5 Bet At The Best Price.

You wouldnt go and buy a new car with out shopping around for the best price! Well you should do the same with your bets. Use multiple Bookies and improve the odds you take. This will help you get 10-12% more out of your betting than by simply using the same bookmaker for all your bets. You should try to share your total bank amongst each bookmaker. An odds comparison site is a very useful tool to compare the odds offered by the bookies without having to look at every bookmakers web site which will save you time better used doing your home work studeing form and finding value for your bets.

You must be prepared for every bet you make to be your next loser and when this happens you may be disappointed, but if you manage your betting bank the right way it should not be a serious issue.

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