Managing Your Bankroll – How Not To Lose Your Head While Betting
Have you ever thought about Managing Your Bankroll? Investing in any business requires control over what we invest and how we evaluate profits and losses. In sports betting, the Sports Betting Banking Management appears as a tool to control the bets and the values invested in each event, to improve performance.
Taking care of our assets (in the case of our money deposited in a betting house) is the basic duty of each bettor. We can establish a simple relationship with everyday life and clearly understand the importance of this management to continue in this world.
Let’s see how can you start Managing Your Bankroll!
Table of content:
- Managing Your Bankroll – How Not To Lose Your Head While Betting
- How to Do Sports Betting Banking Management
- Practical examples to manage your bankroll
- Fixed stake
How to Do Sports Betting Banking Management
Can you manage your expenses with respect to the salary you receive? Every month, the common worker receives a value X and with this he has to make the accounts of what he has to pay, buy, invest, etc.
The mismanagement of the money entered is, surely, one of the great problems of the citizen, which causes most of the people to end up in debt. In sports betting, the premise is the same. Mismanaging the money we invest in the betting houses will end up taking us down the same path, losing everything, that is, bankruptcy.
Many bettors (the vast majority actually), do not have any control over their bets, or over the value, they bet at home. He limits himself to entering, compulsively gambling with random values, loses most of the time, and ends up being left with nothing. This happens for a few reasons:
- 1st-Lack of control of their bankroll
- 2nd-Lack of analysis in their entries
- 3rd-Lack-of emotional control
The psychological part is connected with the first two factors. Not doing a prior analysis of where we bet our money, and not having the least notion of how much investing in each bet makes us lose more than we win. This greatly affects the psychological state of the players, which is normal.
The vast majority are affected when they see their money disappearing. But this happens precisely due to the fact that you do not have a line of control of your expenses. Thus, first, control every penny invested and then create strategies to invest more.
Practical examples to manage your bankroll
- Divide into units
Here, we divide our finances into units, that is, with the total value of the bank, we divide it into equal parts (units) in order to later be able to define some entry strategies.
Example:
- Value entered into your bookie account: $1,000
- Division units: 20 units Unit
- Value: $ 50
In this example, we divide the bank into 20 equal parts, and we have the unit ($ 50) as a benchmark for analysis. Splitting into 20 units can be, for some bettors, too aggressive, so whoever wants to can divide into 30, 50 or even 100 units, depending on the size of their bank.
The important thing is to understand that this unit is stipulated, understand what the average return is with each unit and that this value cannot be changed randomly (bet 50 on one game and 63 on the other).
Management of Sports Betting Banking: The idea has to be to respect the units. As a rule to use only one unit, and in case of great confidence, to put at most 2 units in the same event. But each one can create their strategies.
- Banking Percentage Division
There are those who control your entries with respect to the percentage of your bankroll. In the example above, the units remained the same, changing only the amount invested, depending on the confidence in the bet. Here, the value of the bet will be stipulated with respect to the percentage of our total value at the bookmaker.
Example:
- Value entered into bookie: $ 1,000
- Defined percentage: 5%
- Value of each bet: $ 50
Although the value is the same as the example above ($ 50), it may change, since the management considers the total value of the bank, changing depending on the losses and profits.
- 1st Bet: 50 (stake value) x 1.80 (odd value, hypothetical) = 90 return (50 invested + 40 profit)
Total Bank: 1,040 - 2nd Bet: 52 x 1.80 = 93.60 (41.6 profit)
Total Banking: 1,081.60 - 3rd Bet: 54.80 x 1.80 = 97.34 (42.54 profit)
Total Banking: 1,124.14 - 4th Bet: 56.20 x 1.80 (Here the bet is lost) = -50
Total Banking: 1,074.14 - 5th Bet: invested value will be 53.70
In this case, the value of the stake changes according to whether we win or lose. We can see that in the fifth bet, the invested value will be smaller than in the fourth. In other words, there is always a safety margin, to prevent the bettor from losing his bank or betting exaggerated values.
As in the first example, the percentage value can be changed, depending on whether the bettor is more or less confident. However, I believe that the maximum value should be 5%, to protect the bank.
Fixed stake
This case is very simple. We define the value that we will invest in each bet, and we keep it the same, until a new evaluation of our bank. This can also be considered a unit method, but without the possibility of changing the invested value, even if we have a lot of confidence in the bet.
If we define that the value will be $10 (hypothetical value), we will always keep it. Until we make a new profit and loss assessment and until we are confident to increase, or we are forced to decrease the value.
The important thing here was to show that it is essential that there is control of our expenses. This prevents overconfidence and stronger investments than we should when the timing is very good, and it also protects our investment when the tide is not good.
Those who manage their banks well usually have a more well-structured psychological stage, achieve better analytical conditions and in the medium/long term will almost always have a lucrative return.
Now that you’ve learned how Managing Your Bankroll functions, see also Recommendations For Newbies In Sports Betting
