Being able to manage your bankroll is one of the key things in sports betting and it’s a mistake that many people make when doing sports betting. Some people may literally put their whole bank on one bet and if they lose all of a sudden the whole money’s gone and you can’t bet again.
Here’s some tips on how to manage your bankroll in sports betting.
First tip on how to manage your bankroll is don’t attempt to combine a bunch of different events in one bet. Let’s say you make a combination of 4 bets and put it all as one bet. That instantly turns the chances of you making money against you. Let’s say you combined 4 bets with odds of 1.90 or higher and 3 of them come through but the other loses. You would lose the money. However if you put 4 bets separately with 1.90 odds or higher all of a sudden if 3 bet’s come through and one loses you would make profit. Basically, betting on matches separately will increase your chances of making profit instead of making combinations of multiple matches.
Furthermore, don’t bet more than 1-3% of your bankroll on one bet. As tough as it may be for some people, in the long run it will come profitable. Let’s say you have £200 on your bank roll. Don’t bet more than 3% of that on a single bet because if you bet like 50% of your bank roll consistently all it’d take is 4-5 bets and you’d lose everything. But let’s say you bet 3% of that you’d only lose £6 from one bet and still have a ton of money for other bets. It may seem like a very long process, but if you continuously bet eventually you should be able to make profit and not lose your money.
Basically if you start off by making single, small bets you should be able to make profit in the long run!