Bankroll Management

First things first… what is bankroll? Generally, bankroll is the amount of money in your sportsbooks at the present time. Bankroll is not a ‘one size fits all’ concept, it is tailored to you and how many units you are willing to risk on any given play. A unit? What’s that? Units are a bet size determined by using a percentage of your bankroll, typically around the 1-2% range. They will be commonly shown as 0.5u, 1u, etc. The number indicates the percentage of your bankroll that you should bet.

For example:
• Bankroll = $1000
• 2u (2%) – $20
• 1u (1%) – $10
• 0.5u (0.5%) – $5

Units are also a great way to measure your personal success!Wait… I can keep track of my wins and losses? Absolutely! It’s optional, but if you’re looking at sports betting as a long-term investment it is almost necessary to keep track! You can make yourself a spreadsheet, or, there are apps out there that sync to most of the popular books to keep track for you! Apps like Pikkit and Action Network have capabilities to automatically track your bets for you.

Now that we have some basics out of the way, here are some tips to follow and keep in mind as you continue your sports betting journey… Keep Your Emotions Out of the Game

• Sticking to a system is very important, but what’s also important is what you do after a big win or loss. When your account is flourishing, it’s very easy to find yourself placing more bets than normal, or betting on things you normally wouldn’t. Winning is always nice, but not at the expense of your bankroll. Those kinds of bets can add up, and take your ROI with it.A2ZPICKS

• Adversely, dealing with a losing streak is always difficult, even on the most seasoned bettors. It’s human nature to chase your losses, but it is also a recipe for disaster and a very easy way to blow your entire bankroll. Sticking to your discipline and bankroll management, though difficult through the high highs and low lows, is the easiest way to keep yourself intact. Only Bet What You Can Afford to Lose

• Make sure your bankroll is an amount you can afford to lose in a worst-case scenario. Your bankroll should not be the last dollars you have, and should be separate from the money you need to live your everyday life. There is always a risk to sports-betting, it is truly a gamble. If betting ever begins to take a toll on your mental or financial health, that is where you step away. Keep Your Volume Small

• As you can see, there are several handicappers in the sports industry. With that being said, tailing every single play you see can put you in a hole quickly on an off-day in sports. Pick a few you like, and take a few of your favorite plays. FOMO is real, but again, having discipline and proper bankroll management will pay off in the long run.

Stick to Unit Recommendations

• This is one of the most important tips. Like I said above, we have lots of plays here per day. Each play has its own unit recommendation, and by following those recommendations your bankroll will thank you. Prioritize the Little Things

• Parlays, while flashy and nice to hit, are also higher risk. Expand your portfolio by also incorporating bankroll builders and straights into your betting habits. While still a gamble, bankroll builders and straights have a higher chance of hitting, which keep you afloat and increase your bankroll at the same time. Treat Yourself

• Last but not least… if you had a big win, withdraw some winnings and treat yourself. You earned it.

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