How to determine the sports betting bankroll?

Many people who are unsuccessful in betting are aware that the existence of a sports betting bankroll is crucial, but they do not know how to determine it and then give up before they even start betting. It is much easier to determine the amount of each bet intuitively, without too much thinking, but that leads directly to bankruptcy. Therefore, we will start this story from the beginning: what’s a bankroll really and how much money should we place?

Many people who are unsuccessful in betting are aware that the existence of a sports betting bankroll is crucial, but they do not know how to determine it and then give up before they even start betting. It is much easier to determine the amount of each bet intuitively, without too much thinking, but that leads directly to bankruptcy. Therefore, we will start this story from the beginning: what’s a bankroll really and how much money should we place?

Separate the sports betting bankroll from the household budget

We have already written about the fact that the money allocated for betting must be separated from the household budget. Therefore, it is desirable to open a special bank account for sports betting, which will be intended for betting transactions, or prepare a special envelope where this money will be kept. This is important for several reasons.

First and foremost, you will find it easier to implement a valid betting strategy with a clearly defined bankroll, without allowing emotions to enter the game. If you know that this money is dedicated to betting, you will not be tempted to spend it on anything else.

Secondly, you will avoid the emotional roller coaster if you lose money, because you will know that it is the money dedicated to betting. You have already said goodbye to a certain amount in advance, so you will not take to heart every small or large loss. Now you may thinkyou are quite stable and thatwould never happen to you, but, please, listen to our advice and separate the bankroll from the household budget.

The bankroll must be untouchable

The amount of your bankroll should not be higher that what you are willing spend on betting, and not anything else. In sports betting, your knowledge brings you profit, but money is the means that leads you to the goal.

People say, "It takes money to make money." And for that reason, say goodbye to a certain amount of money and treat it as an investment that will bring you certain income in the future. You should not bet with money that you are not ready to lose and that is one of the oldest rules!

Keep records

You have to take care of every penny invested, every day. This information will be vital to you one day because it will help you to maximize your profits. It will be easier for you to control your payments, profits and losses, but only if your bankroll is separated. If you keep spending that money on something else, uncontrolled chaos will ensue.

We will elaborate on how to keep records more thoroughly, but for now, remember that you have to keep records of every bet, every event, every game and how the bankroll has changed every single day.

Initial and ideal bankroll

Having once again determined how vital the existence of an independent betting bankroll is, we must now determine its amount. How much is the starting bankroll, and how much is the ideal one?

You need to be aware of the fact that your initial bankroll will be lower than ideal. When you realize this, you will be more relaxed about betting. But if you are consistent and disciplined, you will reach the goal in small steps.

You will limit the risk of initially losing a larger amount of money this way. This means that if you test a strategy that has not been sufficiently tested, you will not lose much of your bankroll and it will be easier for you to get back on track. Otherwise, you put yourself in danger of losing a larger amount. Then you will need a lot of time to make up for what you lost.

Don't let your betting career end before it even begins.

Professional betting or just a hobby

When determining the amount of your bankroll, a very important factor is whether you want to bet professionally or just treat it as a kind of entertainment. If you belong to the first group, then it is desirable that the bank be a little higher. This will motivate you to be responsible and eager to constantly learn how to progress as a professional bettor.

If betting is just a hobby, then it is better for your bankroll to be a bit lower. Then you do not have to follow all the rulesstrictly, but it is desirable. The feeling when you make a profit is always good, even if it is just a hobby.

Beginner or proven winner

A lower bankroll is also highly recommended for beginners, because in this way they protect themselves from themselves. Every start is difficult and mistakes will happen, so but you want to make sure they are not too big. At the beginning, you might not be so lucky, so it’s safer to have less money to lose.

On the other hand, if you have been in the betting world for a long time and you have adopted the basics of betting, you are free to start with a slightly larger budget.

Financial status

It is equally important to be aware of your financial situation at all times. You have to set aside money for betting that you can lose without disturbing your daily life in any way. Even if you have enough self-confidence to be sure that you will be successful in the betting world, do not overestimate yourself.

So, if you’re able to start with €100, that’s great. If you’re ready to start with €1,000, that’s great too!

If you are not sure what that number should be, read our following text carefully, because there is an explanation regarding the amount of each individual stake, which will solve many dilemmas for you.