Bankroll Management Basics

Your "bankroll" is the total amount of money you've set aside specifically for sports betting. Bankroll management refers to the strategy you use to:

• Determine appropriate bet sizes
• Protect your funds during downswings
• Grow your bankroll sustainably over time
• Avoid emotional decision-making with your betting funds

Even the most skilled bettors experience losing streaks. Proper bankroll management ensures you can withstand these periods while maintaining enough capital to benefit when your fortunes turn positive again.

The first rule of bankroll management is separating your betting money from your everyday finances:

• Set aside a specific amount exclusively for betting


• Only use money you can afford to lose
• Never bet with funds needed for essential expenses
• Consider your betting bankroll as an entertainment expense or investment

A "unit" is your standard betting amount, typically calculated as a percentage of your total bankroll:

• Conservative approach: 1-2% of your total bankroll per bet
• Moderate approach: 3-5% of your total bankroll per bet
• Aggressive approach: 5-10% of your total bankroll per bet (higher risk)

Most professional bettors recommend using 1-3% of your bankroll as a standard unit size. For example, with a $1,000 bankroll, your standard bet would be $10-30.

A staking plan dictates how much you wager on each bet based on your confidence level:

Flat Betting

• Wager the same amount (one unit) on every bet regardless of confidence
• Simple to implement and track
• Reduces risk during losing streaks
• Example: Always betting $25 regardless of the matchup
• Use BettorEdge's Unit Size and 1x units on the order sheet to make flat betting easier for you. Adjust unit size in your account preferences.

Variable Betting

• Adjust your stake based on confidence in each bet
• Typically ranges from 1-5 units
• Example: 1 unit for lower confidence bets, 2-3 units for medium confidence, 4-5 units for highest confidence
• Use BettorEdge's Unit Size and 1x, 2x, or 3x Units on the order sheet to make variable betting easier for you.

Kelly Criterion

• Mathematical formula that determines optimal bet size based on perceived edge
• Formula: (bp - q) / b where:
  • b = the odds received on the bet (decimal odds minus 1)
  • p = probability of winning
  • q = probability of losing (1 - p)
• Often used with a "fractional Kelly" approach (betting a fraction of the recommended amount)

Proper bankroll management requires meticulous record-keeping:

• Record every bet, including sport, bet type, odds, and outcome
• Calculate your ROI (Return on Investment) regularly
• Identify which sports, leagues, or bet types are most profitable for you
• BettorEdge's automatic tracking tools can help with this process

As your bankroll grows or shrinks, adjust your unit size accordingly:

• Recalculate your unit size monthly or after significant bankroll changes
• Increase your unit size gradually during winning periods
• Decrease your unit size during losing periods to preserve capital
• Consider taking profits out periodically while maintaining adequate bankroll

• Increasing bet size to recover losses quickly
• Often leads to even larger losses and depleted bankroll
• Instead: Stick to your predetermined unit size even during losing streaks

• Wagering too large a percentage of your bankroll on single bets
• Dramatically increases risk of bankruptcy
• Instead: Stay disciplined with your staking plan

• Betting on favorite teams regardless of value
• Confusing fandom with strategic betting
• Instead: Separate entertainment bets from value-based wagers

• Not adjusting unit size as bankroll changes
• Using the same stakes regardless of recent performance
• Instead: Regularly reassess and adjust your approach

Solution: Check if you're overbetting on certain wagers or chasing losses

Problem: I'm tempted to bet more than my unit size 

Solution: Set hard limits in your BettorEdge account and remember that discipline is key to long-term success

Problem: I'm unsure which staking plan is right for me 

Solution: Begin with flat betting until you develop confidence in your edge, then consider more advanced approaches

1. Determine your total betting bankroll (funds dedicated solely to betting)
2. Calculate your standard unit size (1-3% of total bankroll for beginners)
3. Select a staking plan (flat betting recommended for new bettors - use BettorEdge preferences to set your default unit size to make it easier for you)
4. Track all bets using BettorEdge's automatic tracking tools
5. Review your results monthly and adjust your approach as needed

Remember that bankroll management is not just about preserving your money—it's about maximizing your potential returns while minimizing risk. Even the best bettors can go broke with poor money management, while average bettors can sustain themselves with excellent bankroll discipline.

By following these bankroll management principles on BettorEdge, you'll be positioning yourself for sustainable long-term growth rather than the boom-and-bust cycle that plagues many sports bettors.