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п»їSports Betting Money Management Skills.
Most of us focus on betting systems and strategies that will be profitable. After all, without a good betting system, we won’t make any money, right? The same thing can be said about “money management.” That is, if you don’t pay attention to money management, you might not be able to take that “next” step to becoming a “sports investor.” Good money management will reduce the chances of extreme losses and help turn this “hobby” into a legitimate “investment.”
In the world of finance, many professionals use the phrase “risk management” and “money management” interchangeably. What are we trying to do when we focus on “money management?” In simple words, we’re trying to “manage our money” – or “manage our risk.” Our goal is to preserve our capital or hard-earned money. We want to minimize the chances for loss – or in a larger sense, minimize our “risk of ruin.”
The information on this site is for entertainment and educational purposes only. Use of this information in violation of any federal, state, or local laws is prohibited.
Flat Betting.
First things, first… We believe that “flat” betting is the way to go. That is, bet the same amount for each play. “Chasing” or increasing bet size based on your last bet (or series of bets) is not recommended. (This is true for most people; please see * Note * below.)
Over time, you may hear about various systems where you increase your bet size “knowing” that you are due to win sooner or later. In general, these systems don’t work. Eventually, a bad streak occurs and you are betting a recklessly large amount to re-coup losses.
In general, many of these approaches MIGHT seem to improve short-term performance – BUT at the HUGE expense of increasing your risk of ruin. A bad stretch could endanger your bankroll fairly quickly. If you DO succumb to the charms of various Martingale systems, please use some sort of systematic risk management method. In this business of sports investing, it pays to minimize your risk of ruin.
Professional money managers – as well as sensible sports investors – will agree that you should minimize the chances of “blowing out” your investment portfolio. Flat betting will help you to “stay the course” and ride the ups and downs of investing.
* Note *: Experienced gamblers might use a variation of a Martingale or “chase” systems – but will always have some sort of risk control in place. This is beyond the scope of this article but might be addressed in a future article on money management.
Unit Size.
Next, you should think about the type of investor that you are. Are you aggressive or conservative? Are you experienced or a novice? The answers to these questions will help you to determine the size of your typical bet. This is called your “unit” size.
We typically recommend that a sports investor bet 1% – 3% of their bankroll on each bet. Conservative sports investors (or beginners) should bet 1%-2% on a play. Note that professionals are normally in the 1% range.
Aggressive sports investors might want to bet 3% on a play. 2% is a good medium; it allows you to withstand a losing streak while helping to build up your sports investing bankroll. Very aggressive investors might bet 4% or 5% of their bankroll on a bet, but this is too risky for most investors.
Why not 4% or 5%? The short answer is: Streaks and the risk of ruin. If you bet amounts that are too large, a bad streak could cut your bankroll in half (or worse). You then might feel like you need to reduce your bet size – just before the inevitable hot streak. Smaller bet sizes are more prudent and allow you to stick to your approach and stay disciplined.
“True” Bankroll and “Risk Capital”
Whenever we talk about percentages of bankroll, most casual bettors feel that they are on the “high end” of the ranges we discuss. This might SEEM true – but only because the “true bankroll” for most casual bettors is higher than what they have in their accounts. That is, many bettors might have $X in their accounts, but are willing to add another $Y if they draw down their account. Professionals normally already know their “full bankroll” and need to preserve their “capital” versus “risk of ruin.”
Investors – and in this case, sports investors – need to understand the level of their “true bankroll” or “risk capital (allocated to sports).” Once investors take a serious look at their finances, they might better understand the “true” level or amount they allocate to sports investing. They might then realize that 1%-2% of their “true bankroll” or “risk capital” is indeed a realistic bet size.
Summary: Money Management and Playing Defense.
Disclaimer.
We do not guarantee that the trends and biases we’ve found will continue to exist. It is impossible to predict the future. Any serious academic research in the field of “market efficiencies” recognizes that inefficiencies may disappear over time. Once inefficiencies are discovered, it is only a matter of time before the market corrects itself. We do not guarantee our data is error-free. However, we’ve tried our best to make sure every score and percentage is correct.


Top Money Management Tips & Systems for Sports Gambling.
New to the industry? An understanding of how to bet or how to handicap games are critical to getting started. However, none of that matters if you don’t manage your bankroll properly.
That’s why I created this article on the keys to money management when betting on sports. Before we get into it, there are two things you need to come to grips with.
First, there is no such thing as a lock when betting on sports. This can be difficult for a lot of people to grasp. That’s because several amateurs blame their losses on games being fixed.
Second, you have to treat it like a long-term investment not a weekend trip to the casino. Investing on sports takes discipline and lots of it. You aren’t trying to hit the jackpot with one play. You instead are trying to find many small edges over a long period of time.
Invest Like the Professionals: Learn Expert Skills to Money Management.
If you are someone who just throws money around on games with no method to your madness, chances are you aren’t collecting from the books. Instead, you are finding yourself reloading more and more.
I’m not saying it’s bad to do it for entertainment purposes. You can still do that with a disciplined approach that gives you a greater shot at profiting.
Basics: Starting Bankroll, Bet Size & Risk Tolerance.
The first thing that you have to figure out is how big of a bankroll you have for sports betting. Once you have that, you can determine what your starting bet size will be. This is a balance between your expected win rate, the number of bets made, and risk tolerance.
Just because you have an edge does not mean you want to double down your entire stack. An easy way to look at it is like this. Let’s say you have a random number generator that is equally likely to select any number from 1-100. If the number is between 1-55 you win, if it’s 56-100 then you lose. How much would you be willing to risk in this situation?
Kelly Criterion.
I use the Kelly Criterion to determine how much I risk. The formula is as follows.
“b” is the net odds received on the wager, that is what you receive on top of getting your wager back. “p” is the probability of winning. “q” is the probability of losing (1-p).
Seem complicated? Don’t worry. There is a Kelly Calculator that makes it easy.
Example.
Let’s say you have $10,000 in your bankroll to use on the random number generator. How much should you wager on the number being 1-55?
If you are getting even money back (1 to 1) and your probability of winning is 55% your ticket size would be $1,000.
That is the full Kelly amount which would maximize risk and return. Want to reduce your risk? A common approach for gamblers is to use “half-Kelly” and risk half the recommended amount.
Bet Size Based on Expected Win Percentage.
Here are some common win percentages with the percentage of your bankroll your wager size should be.
Win % Bet Size 52.5% 0.25% 53.0% 1.30% 53.5% 2.35% 54.0% 3.40% 54.5% 4.45% 55.0% 5.50% 55.5% 6.55% 56% 7.60% 56.5% 8.65% 57.0% 9.70% 57.5% 10.75% 58.0% 11.80% 58.5% 12.85% 59.0% 13.90% 59.5% 14.95% 60.0% 16.00%
This even works when trying to decide what to wager on arbitrage bets (everything you can), trying to middle games, or hedging parlays.
Top Sports Betting Strategies to Manage Your Money Long-Term.
Flat Betting System.
For most bettors I recommend they enter their bankroll, expected win percentage, and average odds of -110 to find the recommended bet size. Then, take half of that and use it to flat bet each game during a season.
It keeps things easy and comfortable.
Let’s look at an example. If you go 82-68 (54.67%) on the year and use a flat $100 per game you would be up $720.
If you start out using a flat betting system, but after a great winning streak decide to vary your bets and increase them you could cost yourself.
Let’s say you start out the season going 60-40 (60%) at $100 per play, 60 X 100 = $6,000, minus 40 X 110 = $4,400, winning $1,600.
Then you decide to get greedy and up your bets to $200 per play in the hopes of winning even more money.
It is extremely unlikely for you to continue to hit 60% of your wagers long term. Let’s say you go 22-28 (44%) on your next 50 bets. That would give you 22 * 200 = $4,400 on your winners and 28 * 220 = $6,160 on your losers for a total loss of $1,760.
For the season you are still 82-68 (54.67%), above the required win percentage (52.38%) to win money. However, now you are down $160 on the year instead of being up $720!
This is why I recommend most bettors pick a unit value for the season and stick with it.
Kelly & The Power of Compounding Return.
If you want to take your game to the next level and maximize your earnings, you need to make a simple change. Instead of keeping the same wager, you can adjust each new bet based off your bankroll.
Whenever your bankroll increases, you make small increases in your bet size. At the same time, when you stack goes down, you decrease how much you wager. This allows you to compound your winnings when it’s going well and limit your losses when you are in a slump.
You simply re-calculate Kelly before placing each wager. The swings are greater using Kelly, but the end return should be higher.
Let’s take a look at an example. Let’s say you have that $10,000 bankroll and can hit 55%. You are laying -110 on all of your bets instead of using a reduced juice sports book like 5Dimes. You would start out wagering $550 per game.
You win your first bet. Your bankroll is now $10,500 so your next wager would be $577 to win $525. You win that one and your bankroll is now $11,025. Your next wager would be $606. However, if you lose you are now down to $10,419.
You would keep adjusting the amount before each bet you made until the end of the season.
Best Money Managment Tip – Stay Patient.
On paper, it is easy to see and understand, but doing it in the real world is much different. In all of my time spent in this industry, the number one thing I have learned is patience. It is a must. Without it, you will crumble.
You have got to have the will to sit through a losing streak. There’s no avoiding them. Losing streaks happen to everyone. EVERYONE .
It’s important to remember that betting on sports is not a 50-yard dash, but a long distance race. Similar to the stock market. You’ll see losing days, weeks, months and even years in the stock market.
However, if you look at the returns over each 20-year horizon it has always returned a positive profit. You can do the same with your sports betting if you know how to manage your bankroll.


6 Things to Know – Advice for Sports Betting Money Management.
You might find some people out there who treat sports betting like a business. Typically, these people take gambling much more seriously than the average bettor.
If you’re the type of gambler described above, this article probably isn’t for you. However, if you fall into the category of someone who bets regularly but isn’t planning to quit their day job, I believe some of this information can be useful.
All too often, gamblers forget that winning bets isn’t the goal—winning money is. In this article, I’ll explain what you need to consider to maximize the financial side of sports gambling.
1. Don’t Make Low-Value Bets.
Before I get any further, it’s important to get one crucial piece of information out there: the difference between winning money and losing money in sports betting isn’t determined by one bet.
Most bettors make hundreds of bets per year, and the razor-thin margin between winning and losing means it’s imperative to do everything in your power to minimize losses and maximize wins.
Personally, not only will I stay away from plays that are -150 or more if I’m betting on the moneyline. In addition, I won’t usually even play the point spread if the odds are worse than -110.
Although it might seem like no big deal to avoid games with point spreads at -115 odds, I find it to be an important part of a profitable strategy. The bottom line is that there are nearly endless games to gamble on, there’s no reason to spend more than necessary when you can just move on and look for the next opportunity.
2. You Need to Tolerate Risk.
Every successful businessman or woman knows that risk is a necessary part of improvement. If you make fear-based decisions that feel like you’re avoiding something bad rather than trying for something good, it’s tough to get big wins.
This is where it’s important to remind yourself that sports betting isn’t about the number of games you win, nor is it about your overall winning percentage. If you’re constantly making lower-value, lower-risk plays, you might end up winning a high percentage of your bets. Unfortunately, that isn’t going to help increase your bankroll if you’re betting significantly more than you have to gain on a regular basis.
Though there are no cure-all solutions or prescriptions for the risk-averse. With that being said, the answer might lie in getting comfortable with utilizing the moneyline.
I can’t say enough about the impact smart moneyline betting can have on your bankroll. Obviously, the logical next question is, how do I make the most out of it?
3. Bet Small on Parlays.
I won’t go into the lecture explaining why parlays are almost always a bad way to bet, but suffice it to say that the online sportsbooks actually want you to make these plays (why do you think those risk-to-win numbers look so attractive?). I believe that parlays can be a part of a sustainable strategy, but you must use them sparingly.
In my opinion, parlays can be looked at as a lottery ticket. Just as you wouldn’t buy a lottery ticket for $25, you shouldn’t be betting very much when you do try make parlay bets. Think of it this way: If you’re going to risk $10 to win $200-$300, but there’s a low chance of winning, don’t get greedy by wanting to bump up your potential winnings by increasing your initial bet.
Parlays are fun and give you a chance to hit the jackpot. But remember that you’re rarely going to win. Keep these bets small because the payout is going to be significant either way.
4. Track Your Bets.
After a good week of betting, you might feel like a big shot with your winnings. Following a bad week, you might feel like you’ve become poor overnight. The reality is that this week-to-week struggle is going to leave most bettors somewhere in the middle.
The only way to properly evaluate how successful your betting strategy really is in terms of profitability is to track your plays. If you’re betting online, there’s a good chance your plays are stored somewhere, so if you aren’t already documenting your cash flow, go back and start building your tracking sheet today.
Getting this top-line data isn’t going to help you recognize that you’re good at picking the underdog in the NFL and bad at choosing favorites in the NBA (like a fully built out tracking sheet would), but it will help you recognize where you’re standing financially.
Another benefit to having a basic tracking sheet is that it’s easier to keep up with. Update your tracker on a daily or weekly basis, and at the very least, you’ll know how your overall performance is impacting your bankroll.
5. Don’t Throw Money Away.
Sportsbooks rely on relatively uninformed bettors to be the source of most of the action they receive. If you take the time to do even high-level research before making your plays, you’re giving yourself an advantage over other gamblers.
If you’re going to be risking money, you should at least be giving yourself the best chance to win. Don’t make bets blindly, and remember that luck can carry you through for a week, but eventually, those with superior knowledge will have the most success.
6. Remember the Basics.
These might feel like overused clichés in the world of sports betting, but they’ve become the standard advice for a reason.
Don’t chase your losses. Just as the NBA often has “frustration” fouls, bettors make “frustration” bets. These rarely work out for the offender in either case. Don’t fall for the “gambler’s fallacy” which so often plagues bettors of all types. If five favorites hit in the early round of games, that’s not going to have any impact on what happens in the later rounds. Get this type of thought process out of your head, and you’ll make much better decisions on a consistent basis.
Finally, always remember that your bankroll is crucial. Update it often, know where you stand, and never bet too much of it at one time. Your goal isn’t to get one big win, but to stick around and slowly accumulate your profits over time.
Conclusion.
So much of the sports betting talk that can be seen in the media today focuses on wins and losses.
If you feel like you’re winning at a decent rate but are struggling to make any real money, try to keep these tips in mind and see if you can take things to the next level.


Gambling 101: What is Bankroll Management?
Proper bankroll management is important to a profitable, long-term and more enjoyable sports betting experience. While money is personal, and everyone spends it differently, there are simple practices that can help bettors avoid busting their bankroll.
First and foremost, players should never place bets with money they can’t afford to lose. Every wager is a gamble and a betting account should be funded with money that is set aside for entertainment purposes.
Percentage Betting Limits Bankroll Exposure.
Depending on the amount of disposable cash available, recreational bettors need to determine a starting bankroll. For this discussion, we will use $2,000 as our initial deposit and open accounts at two sportsbooks. While suggested percentages vary, players are wise to never bet more than 2% to 10% of available funds on any given day. Based on 10% spending, a player needs to lose 30 straight bets before their bankroll dwindles down to a mere $9.42 balance.
Any player who loses 30 straight wagers should find a new form of entertainment.
Setting daily spending limits allows players to make multiple wagers and still stay within their budget. For example, after making an initial deposit, a bettor may decide to use 5% of their bankroll ($100) the first day they place bets. That means they could wager $50 on a NFL point spread wager, $25 on a NHL moneyline bet, plus $15 on a NBA game total and $10 on a parlay ticket.
By limiting the total amount wagered, and creating a minimal bankroll hit, it’s easier to move on if all four bets lose. A key part of proper money management is avoiding the lure of a big payout that requires a large investment. Wagering a huge sum, on a perceived sure thing, is one of the quickest ways a player can drop their betting account to zero. Houston (-520) losing to Detroit in 2019, as one of the biggest moneyline favorites in MLB history, is a solid example.




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