Most sports bettors only focus on their betting strategies and systems to improve their profitability. Without a good betting system, you can’t make money. However, you should not ignore sports betting money management.
If you don’t know how to handle your bankroll properly, you are bound to lose a lot of money. Using a sports betting money management system will reduce the risks of big losses. In addition, it can help turn your hobby into a profitable investment.
In the financial industry, most professionals use the phrases money management and risk management interchangeably. By managing your money, you minimize the risks of losing it. With proper guidance, you can reduce the chances of becoming broke.
Sports Betting Money Management
When it comes to managing your bankroll, the first thing to consider is the betting unit size. The size of your wager depends on whether you are a conservative or an aggressive bettor. Pay per head bookie experts recommend betting 1 percent to 3 percent of your bankroll with each bet.
If you are a conservative player, your bet should be 1 percent to 2 percent of your bankroll. Take note that professional sports bettors’ betting unit size is around 1 percent of their bankroll. Aggressive players might bet 3 percent for each play.
Two percent is a good number and help you withstand a losing streak and at the same time build up your bankroll. Betting 4 percent to 5 percent of your bankroll per play has too much of a risk. You will not see smart players betting that high.
You should also consider your betting style. Smart sports bettors have a flat betting style, where they bet the same amount for every play. Increasing your bet size is not advisable because you will fall into a deep hole if you get into a losing streak.