Bankroll Sports Betting Strategy
Bankroll Betting Strategy
There are a number of different strategies to use when getting into the sports betting industry, but bankroll management should be at the top of the list. A strong bankroll management system is needed for bettors that want to last and be successful in the sports betting industry.
Creating this bankroll management system can look different for everyone, but there are some common strategies that can be used to help you make these decisions. You can make any slight adjustments to this plan as you see fit, but you must have a system in place before you start making any wagers.
You can always make changes to your bankroll sports betting strategy as you go, but you have to begin somewhere.
Live Odds
Determining your Initial Bankroll
One of the most important aspects of having a great bankroll sports betting strategy is determining your initial bankroll amount. This is the amount of money that you are willing to deposit into a sportsbook account, but you should also keep some money put back.
For example, if you are comfortable with spending $1,000 when betting on sports, you don’t want to put that entire amount in right away. Set some to the side so that way you will be able to refund your account if you suffer some losses. This number will be different for everyone, but you want to make sure that you are comfortable with whatever dollar amount you decide. Don’t ever budget more for sports betting than you are willing to lose and still live comfortably.
Types of Bankroll Sports Betting Strategies
Flat Rate Model
The way the flat-rate model works is by setting a specific betting unit size or quantity of betting units that should be placed on a wager.
With the flat-rate model, bettors will simply bet that specified unit size or quantity no matter what the wager is. This could be one unit on a single-game wager, or it could be one unit on a parlay wager with many different legs. Most sports betting experts would suggest using the flat-rate model, especially when you are just getting started in the industry.
Confidence Meter Model
Another common bankroll sports betting strategy is what is known as the confidence meter model. This is a strategy that takes some time to develop, and you have to determine what sports you have some sort of expertise in.
With this strategy, you will determine how confident you are in a certain bet, and then you can increase the number of units you use for that wager. If you don’t have much confidence in a wager, then you could even decrease your stake to .5 a unit in some cases.
Percentage of Bankroll Model
With the percentage of the bankroll model, you will be determining how many units you should bet based on how much money you still have left in your bankroll. This can be a dangerous way to bet, as you might put too much emphasis on a bet that has plenty of risks.
When you are betting on sports, the goal is to make some money. If you have just hit a bet, that doesn’t mean that you should increase the number of units you should be just because you have won some money.
Strategies For Choosing Unit Size
Now that you know and understand it is best to bet with units, you also need to figure out how to choose your unit. There are two common strategies used for choosing a unit size, and there is a big difference between the two of them.
The 1% Model
A common strategy that is used when choosing a betting unit is to use what is known as the 1 percent model. With this model, the betting unit is always changing, and this will require some math to be done before placing a bet.
Using the 1 percent model means that all betting units make up 1 percent of the bankroll, and this number can fluctuate depending on past results. You will also have to continue referencing back to your bankroll amount to determine how much you should wager each time.
Standard Unit
The most common strategy used for choosing a unit size is what is known as the standard unit method. This typically goes along well with the flat-rate model that is used when creating a sports betting bankroll strategy.
When choosing a unit size, most people believe that it is best to choose one standard unit that will be used to make any and all wagers. It doesn’t matter what betting type you are using or what sport, sticking with the same unit is recommended. The reason for using a standard unit is that it eliminates the belief that anyone bet is more important than another. There is risk involved with any wager, and using one standard unit can keep you from suffering a big loss along the way.
NFL Futures
Derek Hudson
Derek is a long time sports bettor who grew up in Providence, RI. Derek is data driven and believes the key to betting the sportsbooks is finding an edge in analytics. Derek is happily married and has two young boys. Derek will bet on anything if you let him.
