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Sports Betting Bankroll Management Tips from Pro Tipsters

Betting strategy is only half the battle when it comes to sports betting. The other half is bankroll management.

Even the best tipsters in the world would lose if they didn’t manage their bankroll.

In this article we’ll go through the top bankroll management tips from pro tipsters to help you ride the ups and downs of sports betting and make long term profit.

What is Sports Betting Bankroll Management?

Bankroll management in sports betting means how you allocate and control your funds over time.

It’s a process that ensures you bet within your means so you can stay in the game long enough to take advantage of winning runs and the good betting times.

Rather than betting on a whim, bankroll management sets rules for how much to bet on each bet based on your bankroll.

Why is this important? Because even the best punters have losing streaks.

Without a good bankroll management system you can blow your whole balance in a few bad bets.

Betting is about the long term and good bankroll management helps you ride the waves of luck without going under.

There’s a few myths about bankroll management like it’s only for high rollers or professional punters. In reality it’s for all punters, to reduce risk and maximise gain.

The Golden Rule: Never Bet More Than You Can Afford to Lose

One of the golden rules all pro tipsters live by is simple: never bet more than you can afford to lose.

This means setting a clear, realistic budget for your betting and sticking to it no matter what.

First of all determine how much disposable income you have to put into sports betting.

This is money you can lose without affecting your daily expenses, bills or savings.

Once you’ve done that it’s important to separate your betting funds from your personal funds.

Keeping your betting bankroll separate helps you to control and prevents you from using money meant for other things to chase losses.

Responsible betting has psychological benefits too. It helps you to bet with a clear head, knowing you’re not betting more than you can afford, reducing the stress and anxiety that comes with gambling.

Unit Betting System: Keep it Consistent

One of the most popular staking methods among pro tipsters is the unit betting system.

This system involves betting a consistent percentage of your bankroll on each bet, called a “unit” or “point.”

A unit (or point) is usually 1-2% of your total bankroll.

So if you had a $1,000 bankroll for example, each bet would be $10 (1%) or $20 (2%).

Here is an example of how to operate percentage staking:  

Example of a Percentage Staking System:

Let’s say you have a bankroll of $2,000, and you decide to stake 2% of your bankroll on each bet.

– Initial Bankroll: $2,000
– Stake per Bet (2%): $40

If your bankroll increases to $3,000 after a good run, your stake adjusts accordingly:

– New Bankroll: $3,000
– Stake per Bet (2%): $60

If your bankroll decreases to $1,500, you reduce your stake:

– New Bankroll: $1,500
– Stake per Bet (2%): $30

By using a percentage staking system, you protect your bankroll during losing streaks and scale your bets as your bankroll grows.

The unit betting system is simple. It helps you to be consistent and disciplined, no single bet can wreck your bankroll.

And by adjusting your unit size as your bankroll grows or shrinks you can manage risk.

The Kelly Criterion: A Tipster’s Best Friend

Another approach professional bettors use to calculate the optimal bet size is the Kelly Criterion. It maximises profit while minimising risk.

The formula is:

Kelly % = (BP – Q) / B

Where B is the decimal odds, P is the probability of winning and Q is the probability of losing.

In simple terms the Kelly Criterion tells you to bet more on bets where the odds are in your favour and less on those where the advantage is smaller.

Many tipsters swear by it as it stops them from making impulsive decisions based on gut feel.

However it’s worth noting the Kelly Criterion isn’t without its flaws. The formula is based on the accuracy of your probability estimates which can be hard to gauge.

If you get the numbers wrong you can end up betting too much or too little.

Bankroll Growth Strategies: Compound Interest for Punters

Once you’ve got the basics of bankroll management down you can start thinking about growth strategies.

One such strategy is to reinvest your profits rather than withdraw them. By keeping your profits in your bankroll you allow it to grow over time, just like compound interest in a savings account.

The power of compound growth can grow your bankroll rapidly. But you need to find a balance. Some punters withdraw part of their profits and reinvest the rest.

A common approach is to withdraw a percentage of your winnings when you reach certain milestones or at certain points in time (for example at the end of the year) so you can still enjoy your profits while growing your bankroll.

As your bankroll grows so can your base unit size and you can bet bigger while still managing risk.

Dealing with Losing Streaks: Don’t Chase Losses!

Losing streaks are part of sports betting. Even the best punters will go through tough times so having a plan in place for dealing with them is crucial.

The key is not to chase losses. That’s when you increase your stakes to try and get back what you’ve lost.

This is a dangerous strategy that often leads to even bigger losses. Instead stay disciplined and stick to your betting plan, adjust your bet sizes if needed.

Some pro tipsters recommend reducing their stakes during losing streaks to protect their bankroll, others stick to their approach and try to weather the storm.

Either way managing your emotions and being patient is key.

Diversification: Don’t Put All Your Eggs in One Basket

A common mistake among punters is to focus all their bets on one sport, league or type of bet.

While specialisation can be good, it also increases the risk of downturns. To protect your bankroll diversification is key.

Spread your bets across different sports, leagues and tipsters to balance your portfolio.

By diversifying you reduce the risk of a single losing streak wiping out your bankroll.

Diversification also allows you to balance high risk bets with safer, more consistent bets which can smooth out the ups and downs of betting.

However, it’s also important to make sure you have an adequate betting bankroll to follow multiple tipsters or betting strategies.

It’s recommended to keep a separate bankroll for each tipster and ensure that each one is large enough to withstand losing streaks and drawdowns.

Here’s an example of how to manage your bankroll if you had $5,000 and wanted to follow five different tipsters at the same time:

How to Follow Multiple Tipsters with a $5000 Bankroll

If you’re following five tipsters with a total bankroll of $5000 for example, you can allocate $1000 to each tipster.

Here’s how you can manage it:

  • Total Bankroll: $5000
  • Tipsters: 5
  • Bankroll per Tipster: $1000

For each tipster:

  • Allocate a dedicated bankroll of $1000.
  • Use sensible staking strategies, such as a 1-2% stake per bet, which would mean betting $10-$20 per selection.
  • Ensure each bankroll is kept separate, so you can track performance individually and avoid depleting one bankroll by covering for losses of another.

This approach helps manage risk and allows each tipster’s performance to be evaluated independently.


Record Keeping: Track Your Bets Like a Pro

One of the habits of professional tipsters is their record keeping.

By tracking every bet you make you can see patterns, strengths and weaknesses in your strategy and make better decisions over time.

The key metrics to track are the bet amount, odds, outcome and profit/loss for each bet. There are several apps and tools available to track your bets such as bettin.gs or Trademate Sports.

By reviewing your betting data regularly you can see trends and make informed adjustments to your bankroll management strategy and improve your overall performance.

Bankroll Protection: Win and Loss Limits

Bankroll management isn’t just about how much you bet, it’s also about when to stop. Setting win and loss limits is a great way to protect your bankroll from wild swings.

Daily, weekly or monthly limits can stop you overbetting during hot streaks or chasing losses during bad runs.

If you hit your pre-set loss limit it’s time to take a step back, reassess and come back with a clear head.

Same with winning streaks, setting a win limit will stop you from getting overconfident and making silly bets.

Taking breaks and not getting “tilt”—betting emotionally after a loss—will keep your bankroll intact in the long run.

Using Bonuses and Promotions Wisely

Most bookmakers offer a range of bonuses and promotions to attract punters but knowing how to use these into your bankroll management strategy is key.

Bonuses can add value but read the terms and conditions carefully. Some bonuses come with strict wagering requirements that may not be worth it in the long run. This can sometimes be the case with casino bonuses in particular. 

So it’s important to read the full terms of the offer and understand the wagering requirements of any offer. 

It it requires you to wager the bonus 20x, 50x or more then quite simply it may not be worth it. 

Standard bookie free bet offers don’t tend to be so stringent though. Even with those however it’s important to check the terms and conditions so you aren’t caught out.  

Setting Realistic Goals

Set achievable goals based on your bankroll.

For example, a 5-10% monthly growth target might be reasonable, but it’s important to avoid unrealistic expectations, which could lead to poor decisions.

Remember that it’s long-term tipster performance that counts, not their results over the last few days or weeks. 

Keep your focus on their long-term results over the course of a year or more.  

Knowing When to Stop Following a Tipster

If a tipster experiences prolonged losing streaks, it may be time to stop following them.

Keep an eye on long-term trends and avoid emotional decisions based on short-term results.

By following these principles, you can better manage your bankroll, mitigate risk, and evaluate the value of each tipster you follow.

 

Conclusion – Managing your Bankroll Like a Pro

By following these tips from the pros you’ll not only protect your bankroll but be well ahead of the vast majority of punters who tend to bet erratically with no thought of managing their bankroll. 

Remember sports betting bankroll management is all about discipline, patience and making informed decisions.

Stick to these and you’ll be giving yourself the best chance of coming out on top in the wild world of sports betting.

 

 

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