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Managing the bankroll
By Damian Steiner Chang
A good management of your betting funds is primordial to be successful in any sports gambling strategy. There is not such a thing like a perfect winning method and losing streaks will be unavoidable, therefore an important objective of any management strategy is to prevent losing your investment capital and have funds available on your good picks.
A good recommendation is to separate a fixed amount for sports betting and divide this amount into smaller units. Each of these units will become a bet, there are two ways to divide this amount, each one with advantages and disadvantages:
- Fixed Amount
- Percentage
Once the start amount has been chosen, the next step. is to define your bankroll depth this will give you a limit for individual bets that you have to follow strictly. We recommend that you start by stablishing a goal with limits: How much time? , how much profit/loss? how much risk do we want to take?
Always respect the limits
The best way to understand bankroll management is with an example: A minimum bankroll depth is 90 bets, therefore if your bankroll is $9000,00, the maximum individual bet should be $100,00 A desirable bankroll depth is 100 bets, anything between those two values will be perfectly fine
The bet limits can be static or dynamic, if you are winning you can adjust the minimum up., but remember that it will take you less movements if the results trend reverses. I find static management easier to use.
The bet amount is another aspect to take into consideration for a good bankroll management. It is easier to keep track of winnings and losings if your amounts are the same, you just have to win 50% of the bets plus the house margin,
which varies between 10% and 20%. Based on those margins, you will be making a small profit if you win 55% to 60% of your positions, with some knowledge and discipline it is easy to achieve.
If you play combinations like parlays or teasers, or propositions, you will need a more complex system.
Finally, if you take into consideration probabilities, bet amount are affected by a a probability factor, and basically if you have a better chance to win your bet amount will be higher.
No matter what system you use it is very important to keep track of every movement and also be willing to be flexible. Remember that there are not perfect systems, and sports and odd makers are constantly changing in order to be competitive you will have to keep continuosly evolving.