Today we will see how to manage your bankroll in sports betting. By this, we mean how much money you should allocate monthly to make sports bets without your finances being affected.
Regularly, the amount varies according to how much you want to win. And your experience in the sport to bet. Read on for some tips and techniques for managing your sports betting funds. And don’t forget to take a bonus at 22Bet Naija.
The variables to be successful in your sports betting
As I mentioned in the previous paragraph, the amount of bankroll or funds for your bets will depend on how much you want to win from your bets. Are you gambling just for fun? To earn a second salary? Or to live off your bets?
Now, you can start with a small bankroll, but you will have some limitations, and your progress will be slow.
Take into account that a reasonable average return on bets is 10% of your total bankroll per month. This means that if you start with a bankroll of 100 $, you can expect a return of 10 $ per month.
If you want to earn, for example, 1,000 $ per month, then you will need a bankroll of at least 10,000 $. On the other hand, to be successful in your bets, you will need, the following characteristics:
- A high sports betting fund that allows you to obtain better returns.
- Being able to place a large number of bets during a specific time.
- Of course, a remarkable ability to predict and create an effective betting system gives you a great return on your bets.
By gathering these three characteristics, you can improve the probability of your predictions and win approximately 10% of your bets or more. Thus, increasing your bankroll will be very important for your development from the beginning.
Define a maximum point of risk
Defining the amount of money you will play on each bet divides the average player from the professional bettors.
This is known as a Stake, which is nothing more than the amount or fraction of your bankroll you decide to risk on a specific bet.
If you are new to betting, you should first learn to differentiate each bet by its risk and assign it an excellent percentage to bet. In this way, we maximize the use of money and limit losses in case you do not hit your bets. Good management of your bankroll will help you not to make the mistake of losing everything in a single chance due to a bad streak or your feelings.
The Stake in your sports bets
Now we will see a Stake model that you can use to manage your bankroll. Here we are selecting 5% of our total funds as the maximum possible to bet on. This 5% will be assigned to the safest bet we have, and we should not exceed this limit, no matter how confident we are about a bet.
As the possibility of winning your bet decreases, the Stake will decrease, starting with a Stake of 10 as the highest. And so on until 1 as shown below:
- A Stake of 10: 5% of your bankroll
- A Stake of 9: 4.5% of bankroll
- A Stake of 8: 4%
- A Stake of 7: 3.5%
- A Stake of 6: 3%
- A Stake of 5: 2.5%
- A Stake of 4: 2%
- A Stake of 3: 1.5%
- A Stake of 2: 1%
- A Stake of 1: 0.5%
We recommend not betting more than 5% or 10% of your total bankroll because if you go through a bad streak (and believe me, it will happen at some point), at least you will not lose all your betting funds.
How do I assign the Stake to my bets?
For a bet to be worth a Stake 10, it must have all of your confidence that it will be the winner. And I’m not just referring to a hunch, as said bet must have approved your betting system ideally after a proper investigation of the factors at play.
In Stake 9 there will be those bets that seem to be 10, but that, for some reason, do not quite convince us. Here our experience about football and the teams that will be participating take into account a lot.
There will be bets in Stake 6, 7, and 8 where you are not very sure, but specific information or other data shows a considerable possibility of one team over another.
For positions 3,4 and 5, we will assign bets in which we do not have much data or statistics, but we know well the market and the teams that will play in the event.
Already in the last two positions will be the riskiest bets, like when you think that an underdog has a chance to win the game. If they do not win, your losses will not be painful, but if they win, they will give you good returns because they will have a high quota.
Our final recommendation
We recommend that you follow the limits. Doing so is extremely important to growing your bankroll and generating better returns on your sports bets.
Also, be very strict with the allocation of Stakes for your bets. It is also essential that you create a betting system that, together with your experience and knowledge about a sport, dramatically increases your chances of hitting your selections.
Finally, never give in to your feelings or gamble under the influence of harmful substances, as it will be easy for you to exceed your imposed limits and lose all your capital.
With these tips, you already have a better idea of managing your bankroll in sports betting. If there is any doubt, do not hesitate to leave it in the comments below.