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Sports Betting Money Management Guide – Brilliant Bankroll System

We all like to place sports bets but not all of us know how to use our budgets efficiently: Usually, “all or nothing” is the only sports betting management system we use.

However, using a proper money management system for sports betting is of crucial importance.

Note that this is not about your budget: Even if you are a millionaire, you still need to use a sports betting bankroll management system for efficient gambling.

Doing so will allow you to control your losses, keep track of your betting history, and even create new sports betting strategies that will increase your winning frequency.

To learn more about sports betting money management, keep reading: We will tell you everything you need to know in order to make money with sports betting.

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What is the meaning of sports betting bankroll management?

If you are serious about making money from sports betting, you must think of it as a business and learn more about the best tennis betting strategies for example. And as you already know, no business can stay alive without managing its funds properly.

The same thing applies to you too: You are investing money when you place a bet and you have a certain budget – let’s call this “capital” from now on.

No matter how big that capital is, you must use it according to a plan. If you spend it without a worry in mind and on random things, your business will go bankrupt. But if you use it efficiently, you can control your losses and know what to invest in.

This is what online sports betting bankroll management is. By using a plan and a system, you can gamble more efficiently and always stay in control.

Once again, you may have €100 or €1,000,000 to spend – the amount of your capital is not important.

No matter how rich you are, you must use sports betting money management system when placing bets.

What is the importance of bankroll management in sports betting?

By using proper bankroll management sports betting systems, you can:

  • Know what to bet on and how much to bet
  • Control your win and losses
  • Gamble responsibly
  • Get the best out of your gambling budget
  • Keep track of your betting history and analyze your wins/losses
  • Create new strategies and analyze new possibilities

In short, controlling your betting budget is of crucial importance for every gambler out there: Sports betting bankroll management systems will let you play smart.

Best sports betting money management systems

Ok, enough with the introductions: Let’s start talking about the best money management system for sports betting by giving out practical examples. Before we start, we must explain a term: Below, you will see that we are using “units” as a term more than once. This is a reference to your bankroll. All our sports betting money management systems are based on units.

Here is a simple example: If you have a €100 budget, you can divide it into 10 units. Each unit will represent €10 and will count as the minimum bet amount you will place.

So when we say “1 unit”, for example, we will be referring to a certain percentage of your bankroll (budget).

Simple, right? Let’s continue with the most popular gamble money management systems.

Flat betting

This is probably the easiest sports betting money management system. It is also called “fixed staking” and “level staking”, though, all of these mean the same thing. In this system, you determine the unit you will use and keep using the same units for all of your bets until the session ends or you win/lose a certain amount.

Here is a practical example:

  • You have a betting budget of €1,000 for the entire season
  • You decide to use 1 unit (€10)  for each and every one of your bets
  • You will keep doing so until the session ends
  • Until you make a €100  net profit or lose all of your budgets.

Basically, choose a specific amount and stick with it, until one of the two possibilities happens. As we said, it is as simple as it gets. But does it work? We will answer this question below.

Percentage model

A brilliant bankroll system that works similarly to flat betting, when betting with this money management system, your unit size is determined by the amount of gambling money you have, not in advance. Betting on sports with a fixed amount of money and plowing it all into one bet is one of the classic sports betting mistakes, but by using the percentage model alongside the best sports betting strategies, you can avoid those errors.

Here is how it works:

  • You have a balance of €1,000
  • You decide that your unit should be 2.5%. Therefore, you should opt to make your first wager worth €25
  • If you win your first bet, your bankroll rises to €1,025. Your next bet will, therefore, be €25.63
  • Never go above 3% when using the percentage model

This system is a good bankroll management option for betting on sports because it takes advantage of any winning streaks you come across. However, it can be tricky to recover once the amount of money you stake starts dipping following losses.

Confidence model

Another notable bankroll management option when sports betting, this bankroll management system allows you to increase your stake when you are “confident”. Let us show sports bettors how this works in yet another one of our sports betting systems, tutorials, and strategies.

  • You choose to be one unit
  • You can increase your bet to two or three units, based on the amount of money you have, but don’t go beyond three units. Half unit bets are permitted when there is a decent chance of winning
  • Track your bets and monitor the events and successful sports bets where you have won. Stick to these as you go forward

Of course, there is a great deal of risk with the confidence model. False confidence can knock you off balance for a start. It may be ideal to score each bet out of three, based on how confident you feel about them. Then the only wager on the games you are confident about pocketing a result from. Only increase your bets in those events you feel confident in and potentially even lower them in matches where you are less confident about the outcome.

Kelly Criterion betting

Invented by J.L. Kelly in 1956, who was a researcher at Bell Labs, the Kelly Criterion is seen as one of the most effective sports betting bankroll management systems. Unlike other systems, it has a specific mathematical formula, which looks like this:

[(Winning Probability x (decimal odds-1)) — Losing Probability]: (odds-1)

It looks complex, right? Basically, this formula shows how many units should you allocate for a specific sports bet. The result will be a number, and if it is 20, for example, you must use 20% of your bankroll for that event.

The mathematical formula is too complex to explain simply, but it looks like this: (a – b) / c = d. In this formula:

• A shows the potential payout,
• B shows the probability of winning or implied probability
• C shows the probability of losing,
• D shows how much we should invest.

The Kelly Criterion actually works but only if there is actual hard data to use. Basically, if you can add the payout and probabilities of winning/losing to this formula, it will show you how much you should bet and it will be a very accurate number. The thing is, the probabilities of winning and losing are not hard data – they are based on personal expectations.

In order for this formula to work, you must calculate the probability of winning and losing yourself, which is not an easy thing to do and won’t give accurate results. Two players can try the same thing and come up with different results.

In any case, if you think that you are capable of making such a calculation (for example, Team A has a 60% chance of winning and 40% fail rate), the Kelly Criterion will give you very accurate results on how much to bet. But if you are that good to have this ability, we recommend applying it to the nearest mathematics faculty.

The Kelly Criterion is used especially for exotic wagers (such as arbitrage bets) and the parameters are usually taken from odds picks consensus scores. However, based on the figures you use; it can give quite volatile results. This is a useful formula and it can really help you, but do not use the results of the Kelly formula for a “boom or bust” strategy.

If the results seem too volatile, the formula may be misleading you or they may be something wrong with your parameters. Remember that J. Kelly developed this formula for economic investments, which already have enough data for accurate results.

Sports betting is a different kind of beast: Even if you are amazing at calculating win/loss percentages, the results still will be just a prediction.

Point betting

Lastly, let’s take a look at the point betting system. This one requires you to create different units with your bankroll, and use them according to how likely it is for a specific outcome to happen. Ok, this sounds confusing, so let’s give a practical example:

  • You have a betting budget of €1,000
  • You divide it into 10 units, 15 units, 25 units, and 50 units
  • You will try to predict the outcome of a sports event
  • If you think that outcome is likely to happen, you will bet 50 units
  • If you think that outcome may happen, you will bet 15 or 25 units
  • If you think that outcome may happen but it is still a long shot, you will bet 10 units

Basically, you will create a priority system and allocate your bankroll accordingly. Now, since we have listed the most popular sports betting money management systems, let’s answer the obvious question:

Which one is the best?

Which bankroll management sports betting system is the best?

Firstly, there is no single brilliant bankroll system – all of these sports betting bankroll management systems have their advantages and disadvantages.

Let’s start with the last two because they depend on the same thing: Your ability to make an accurate prediction.

When J.L. Kelly invented his system, he used it on a heads or tails game and used the results to show that the strategy works. And it really works, as long as you can correctly predict two values: winning probability and losing probability.

We asked you to remember these two above and there was a reason. The formula does not contain these values: You need to find these figures by yourself. And since it is impossible to find the exact values, the best you can do is making a “good-enough” estimation. If that estimation is close to the real values, then yes, the Kelly Criterion system will be useful.

The same thing can be said for the point betting system: As long as you are able to calculate the real winning odds, it will allow you to efficiently manage your budget too.

The question is, are you sure you can do this?

The Snowball Betting system has its problems too. It is still the Martingale strategy at its heart, and Martingale bets on the assumption of “you will win sooner or later”. It is not a real system, it just says “if you bet on the same probability for a long time, you will win it sooner or later”. This is true, but nobody can say when you are going to win. So if you don’t have a budget to back you up until you score a winning, you can easily go bankrupt.

In other words, this sports betting money management system may work at high stakes betting sites, but if you are a low-roller, you should stay away from them.

What about the flat betting system? Well, believe it or not, this is the sports betting bankroll management system choice of the professional players.

Why? Because it simply works. With the flat betting system:

  • You can limit your losses and use your bankroll more efficiently, and,
  • If you use 1 unit for all of your bets, you can still continue to play even after losing 99 bets.

It really gives you the most bang for your buck. Flat betting won’t make you a millionaire but it also won’t allow you to go bankrupt. It is a long-term sport betting money management strategy and if you are looking for “quick and dirty” winnings, flat betting won’t give you that.

However, quick and dirty wins usually come with bankruptcy too – never forget that.

Sports betting bankroll tips and tricks

Ok, we explained the importance of money management for sports betting, so let’s start giving actual examples. There is no single best money management for sports betting system, there are multiple systems you need to use together. Such as:

  • Start With A Fixed Betting System. This one is also known as “flat betting”. The idea is simple: You will use a certain percentage of your bankroll each and every time, no matter what the wager is actually about. It is a very simple sports betting bankroll management system and gives you a clear idea about the state of your budget.

Here is an example:

• Let’s say your bet bankroll is €1,000  per month.
• You decide to use 2% of this bankroll for every bet.
• This means you will place €20  for each and every bet you make.

Simple, right? It is also effective – losing a couple of bets won’t bankrupt you and you can always stick to your staking plans.

In this example, you will stop playing if you lose €1,000 in a month. The “trick” here is resisting the urge to keep betting: If you lose all of your budgets, you will stop betting until the next month. That way, you can limit your losses too. Fixed betting is a brilliant bankroll system but you must also know about these if you plan on using it:

• The percentage per bet should never exceed 3%. No matter what your budget is, each wager must cost between 1% – 3%. If it goes any higher, there is a risk of losing all of your budgets in a short period.
• This system is good for simple wagers, not complex (exotic) ones. So, it will be less efficient for arbitrage betting, for example. Use it if you play standard and classic sports bets only.
• The system has a self-limitation. Even if you are sure about a particular outcome, you cannot place more than the determined percentage. This is actually a good thing as it stops you from taking unnecessary risks, but most players will find it too limiting.

  • Have A Separate Bankroll And Don’t Take Money From It. Yes, we know how exciting it is to withdraw your money, but using your payouts to increase your gambling budget will be a much wiser decision. Firstly, make sure that you have separate sports betting money. Determining the amount is your job but always pick a number that you can afford to lose. Think of this bankroll as the starting capital of your business: Separate it from your other expenses and do not touch your winnings if you want a steady increase. This is exactly what happens in real life: Successful small businesses do not spend their earnings; they use them to grow bigger. Do the same – each and every payout should be used to increase your bankroll.
  • Keep Records And Check Them Often. Start taking notes about your sports betting history. Record all of your wins and losses, and how much money you spent on both. Betting money management is all about knowing what works and what doesn’t work: With these records, you can easily see if you are really good with a particular bet type and can focus on that. Or, you can see which types of bets you lose money the most and stop wagering money on them. You will also create a personal scores standings stats database, which will help you to do research about sports teams. Lastly, keeping records will let you know how much money is left in your bankroll and plan accordingly.
  • Stick To The Plan And Create Stop Loss Limits. The urge to continuing to play is hard to resist but it is a technique you must master. No matter what the outcome is, you must create stop-loss limits and stick with them. We gave one example above: If your monthly bankroll is €1,000; stop playing after losing all of it. But you should also create a stop-loss limit for your winnings too. In other words, you should also stop playing after winning €1,000, for example. All bettors think that they will simply keep winning because they are on a “roll” but such a thing does not exist. If you do not have a win limit, you can continue to play and lose all the profit in a single bet. In short, create limits for wins and losses, and stick with them no matter what.
  • Use A Sports Betting Bonus. When used right, sports betting bonuses can be helpful and give you an extra bankroll with no charge. For example, a bet now deposit bonus will match your deposit amount with a certain percentage, and that bonus bankroll can be used for placing additional bets. Of course, you need to do this carefully: A “completely free” bet no deposit promotion does not exist and there are always wagering requirements to complete. But if you pick the ones with low wagering rates and use the right online bookmaker, using bonuses can be a very efficient money management strategy for sports betting. Check this guide and website to see some examples: We already have some suggestions in this regard, new independent bookmakers being among them.
  • Stay Patient. You will spend a lot of time doing research, checking picks consensus scores, and analyzing game logs and betting trends. The success won’t come fast and it won’t be easy either. You must be patient and learn from your mistakes. Do not take unnecessary risks just because you scored a winning. However, do not lose hope just because you lost. There are things to learn from both of these – stay patient and keep trying. And yes, this is advanced money management for sports betting tips because you will be surprised to hear how many bettors forget this fact. Because of the Hollywood movies, we think that sports betting will just be an adventure with minimum effort: Sure, we will lose a couple of times but we will score a big prize in the end. Thing is, the real world does not work like that. Unless you are particularly lucky, you won’t become a millionaire by playing sports betting. But if you work hard, show maximum effort to grow your business, stay patient, and stick to a money management strategy for sports betting, success will come.

The pros and cons of sports betting money management

PROS

  • It can help you avoid bankruptcy when engaged in real money sports betting
  • Divided your funds into sports betting units makes it easier to keep tabs on your budget
  • It can be used quite effectively alongside a decent betting strategy

CONS

  • You can’t guarantee a fix if you end up on a losing streak
  • Gambling bankrolls are tough to understand if you are new to betting

FAQs: Your questions on sports betting money management answered

Before you decide on sports betting money management system to use, be sure to read our FAQ and potentially our other how-to win at sports betting and betting advice guides. If you’re eager to learn, don’t hesitate to read our how-to-do bookies make money guide, too. If you have questions about gambling money management, we’re here to help…

Bankroll management involves keeping tabs on what you spend. If you are wondering, “is sports betting profitable?” it can be if you want to pocket decent rewards and use common sense and sports betting math to help you. Bankroll management is a part of that.

Bankroll management allows you to determine the ideal starting bankroll, the bet size you will wager, and how to get max value betting on sports without bankrupting yourself. Naturally, this makes it very important to learn.

Betting for fun vs betting for profit is very different. You need to keep close tabs on your finances in the long term. Sports bettors can use any of the strategies listed above to learn to manage their money.

Claiming money back and cashback offers from trusted sports betting sites can, in the long run, prove to be just as important a part of a top betting strategy as bankroll management, but you should only claim bonuses based on the terms listed above.

Your bet bankroll depends entirely on how much you have at hand and are prepared to risk. Always remember that you are “risking” money as there is no guarantee of success. High rollers can start with a balance of around a grand, but for low-rollers, €100 is a decent sum to start off with.

Use a proper bankroll management for sports betting to gamble efficiently

We all like to place sports bets but not all of us know how to use our budgets efficiently: Usually, “all or nothing” is the only sports betting management system we use.

However, using a proper money management system for sports betting is of crucial importance.

Note that this is not about your budget: Even if you are a millionaire, you still need to use a sports betting bankroll management system for efficient gambling.

Doing so will allow you to control your losses, keep track of your betting history, and even create new sports betting strategies that will increase your winning frequency.

To learn more about sports betting money management, keep reading: We will tell you everything you need to know in order to make money with sports betting.