Know what bankroll management is in sports betting?

[maydna]

I'm sometimes affected too at this betting with emotions especially if my favorite team is involved.

I will just go with the flow, bet on my favorite team because I want it disregarding how dominant their opponent is.

Generally, it's not that they always losing so still worth putting up a bet. I'm not that blind to just bet on my favorite team even they are weak if I see they don't have the ability to turn the table against a much stronger team.

When it comes to our favourite team, we can feel more emotions, and I feel that too. Going with the flow will not be a problem as long as we know that our favourite team have a chance to win. But if it's not, we shouldn't be placing bets to them because if they don't have a chance to win, we better watch them play.

I have experience betting to my favourite team, but the opponent can turn the situations that give benefits to them, and in the end, my favourite team are lost the game.

Knowing the money management is important to do, and it's not about which team that we will select to bets, but it's about how we manage our money in the sports betting. We want to minimize the losing money, and we don't bet if it does not give a chance to win to us.

[Maslate]

Knowing the money management is important to do, and it's not about which team that we will select to bets, but it's about how we manage our money in the sports betting. We want to minimize the losing money, and we don't bet if it does not give a chance to win to us.

Bankroll management is different from your process of selecting a team to bet, with proper bankroll management, even if you are so confident that a certain team will win, you won't put a lot of money because you follow the right bankroll management.

Let's say you are only allowed to bet $100 per bet, you should strictly follow that as what you need here is to be consistent in order to be profitable in the long run, and even how good you are, cold streak will happen in your career as a gambler.

[maydna]

~snip~

Bankroll management is different from your process of selecting a team to bet, with proper bankroll management, even if you are so confident that a certain team will win, you won't put a lot of money because you follow the right bankroll management.

Let's say you are only allowed to bet $100 per bet, you should strictly follow that as what you need here is to be consistent in order to be profitable in the long run, and even how good you are, cold streak will happen in your career as a gambler.

Thank you for explaining. Yes, consistently will not easy to apply. Many gamblers are drained their money once they see the chance to win, and make them bet more. In the beginning, they can follow the plan, but in the next betting, when it comes to their favorite team, and they see the chance to win, they will use more money.

That is what happens when I bet with my friends. Sometimes, we raise the bet amount because the position of both teams almost the same, and it's hard to predict which team that could win. It was exciting to feel that moment, but if we lose, only regret that we will felt.

[Questat]

It was exciting to feel that moment, but if we lose, only regret that we will felt.

This kind of feeling should be eliminated because it will affect your future decision.
When you put emotion in gambling, you'll never be consistent in the long run as eventually you will lose your focus.

Believe me, I've been there.

[Janation]

It was exciting to feel that moment, but if we lose, only regret that we will felt.

This kind of feeling should be eliminated because it will affect your future decision.
When you put emotion in gambling, you'll never be consistent in the long run as eventually you will lose your focus.

Believe me, I've been there.

I do support a team but I don't just let my emotion run free.

It is true that you are supporting a team but that doesn't mean that you can risk your money with them without doing any analysis or anything that could increase your chances of winning. We are talking about your money here, so you don't need to always just go with that team always, you need to use your head first before your heart as they said it.

[daarul50]

The question is how long can you survive to not tempted to gamble it all away?
I mean you maybe have 100 units and managed to make it 110 in the next week but time after time you look at your bankroll and it is a little bit different as the units dropped to 90 , the next week get another drop to 70 and at this point you will involving your anger to try staking a little bigger and at the end of the day you are busting everything.
This is the reality that most of us experienced. Dont we?

[BIN-BIN]

This is one of the major topics that is never covered here (or maybe I haven't seen any such threads related to this).

Deciding Units

I have seen many people getting confused about units and how to set it. Well, I've got a simple formulae here - just divide your bankroll by 100 and you'll get your 1 unit cost. Means, if you have $100, you should bet no more than $1 per bet doesn't matter you win or lose. This will give you 100 bets in total with 100 units available to play with.


Never chase your losses

Only asses chase losses! Haha, jk. But still, there's no need for you to go and double your bet every single time just to chase your total loss and get into profits. Trust me, if you eventually turn your gambling habits from being greedy to becoming a smart gambler, you will be in much better profits than just gambling it all away at once and chasing could be really dangerous for your bankroll's health.


Calm mindset

There is no need to feel bad for your loss, even if you lose 1 unit, you still have 99 left, so 2 more wins and you are in profit. Don't go all in on one bet, instead place your bets in parts. Opportunities are available every single day in sports betting, but don't bet like a gambler, bet as a sports investor and apply the rule of "1 bet 1 unit" and I assure you that you'll become a much better gambler one day.


Have an edge over yourself

It's not funny to gamble tbh, some people do it for fun but where's smartness in losing your money? Will you be called smart? No, right? It's better to only use and invest your bankroll in those games over which you have an edge. If you are sure about the game you are betting, then only use your 1 unit on that game, otherwise no need to gamble based on half (or 0) knowledge because we are talking about smart gambling and managing our bankroll. This assures that you have higher chances of winning over losing, and this edge will only help you gaining much more profits in the long run. If you don't know about a game, or yours is a few days ahead, just don't gamble and wait some days and let your expected game arrive.

Nice one you really explained most of the general rules for betting but you have not really touched the point that got my attention to this thread which is backroll I understood it perfectly but most beginners in gambling such as the newbies will need a deep explanation of the meaning of back roll before going further to how to place betting and managing your winning and losses.

[Questat]

It was exciting to feel that moment, but if we lose, only regret that we will felt.

This kind of feeling should be eliminated because it will affect your future decision.
When you put emotion in gambling, you'll never be consistent in the long run as eventually you will lose your focus.

Believe me, I've been there.

I do support a team but I don't just let my emotion run free.

It is true that you are supporting a team but that doesn't mean that you can risk your money with them without doing any analysis or anything that could increase your chances of winning. We are talking about your money here, so you don't need to always just go with that team always, you need to use your head first before your heart as they said it.

That's good to hear, your emotion is the one killing our plan, every gambler who knows how to analyze games makes his own analysis before putting his bet, he only got some trouble if he got caught up with his emotion while in the middle of the session. Maybe we can start trying on our own experiment, what we do is to gamble consistently and learn how and when to stop when we are in winning or losing situation.

[freedomgo]

The question is how long can you survive to not tempted to gamble it all away?
I mean you maybe have 100 units and managed to make it 110 in the next week but time after time you look at your bankroll and it is a little bit different as the units dropped to 90 , the next week get another drop to 70 and at this point you will involving your anger to try staking a little bigger and at the end of the day you are busting everything.
This is the reality that most of us experienced. Dont we?

You have to understand that it could happen, if you have 100 units and you are down like 30 units, you should still continue to do what you are doing as it doesn't mean you can't recover and you'll decide to double your bet so you can easily come bank.

Bankroll management means discipline and you follow the amount per stake you need to, if you can do that consistently, for sure you already pass one of the most important steps to be a successful gambler.

[madnessteat]

To learn how to properly manage a bankroll you need to do a huge amount of work on yourself and change the usual thinking that is built in the interaction with objects that cause positive and negative emotions...

The human body when receiving negative emotions defines a loss as a bad experience and tries to protect you from failures, including the central nervous system. Only by accepting that the loss is a quite normal outcome of the game a person becomes independent of his emotions and can properly manage the bankroll.

Not everyone can do it. Someone can never defeat the protective reflexes of their body.

[Pamadar]

It was exciting to feel that moment, but if we lose, only regret that we will felt.

This kind of feeling should be eliminated because it will affect your future decision.
When you put emotion in gambling, you'll never be consistent in the long run as eventually you will lose your focus.

Believe me, I've been there.

Agree to that, If you let your emotions then you'll keep trying to recover.

Or, that regrets will keep you holding back, it will affects your decision making from time to time. You have to let it go and forget about it if you really wanted to move forward. There are many games to come and keep assessing each sports that you wanted to bet along, do further research and keep focusing with your bankroll to lessen your chances of busting your money.

[Mauser]

The question is how long can you survive to not tempted to gamble it all away?
I mean you maybe have 100 units and managed to make it 110 in the next week but time after time you look at your bankroll and it is a little bit different as the units dropped to 90 , the next week get another drop to 70 and at this point you will involving your anger to try staking a little bigger and at the end of the day you are busting everything.
This is the reality that most of us experienced. Dont we?

You have to understand that it could happen, if you have 100 units and you are down like 30 units, you should still continue to do what you are doing as it doesn't mean you can't recover and you'll decide to double your bet so you can easily come bank.

Bankroll management means discipline and you follow the amount per stake you need to, if you can do that consistently, for sure you already pass one of the most important steps to be a successful gambler.

That is exactly the issue in my opinion. A bankroll management needs to be reactive towards our losses but we can't always say if our strategy is wrong. If we are down 30% of our bankroll in just a few days, it doesn't mean our strategy is wrong, but it could be the case. So I would want my bankroll management to kick in and force me to lower my bets.

In my opinion the bankroll should determine how much we betting each time. With a smaller bankroll we should also bet lower for a few games atleast until we recovered our losses. If we keep following the old bets we could go broke very fast. It would be best to always bet in relation to our total bankroll.

[carlfebz2]

It was exciting to feel that moment, but if we lose, only regret that we will felt.

This kind of feeling should be eliminated because it will affect your future decision.
When you put emotion in gambling, you'll never be consistent in the long run as eventually you will lose your focus.

Believe me, I've been there.

Agree to that, If you let your emotions then you'll keep trying to recover.

Or, that regrets will keep you holding back, it will affects your decision making from time to time. You have to let it go and forget about it if you really wanted to move forward. There are many games to come and keep assessing each sports that you wanted to bet along, do further research and keep focusing with your bankroll to lessen your chances of busting your money.

Easy to say but would really be hard to be followed on someones gambling activity yet human beings are too emotional but due to experience you would really able to control that and that matters on how
strong your discipline is.

We should really need to move on and dont look back into those loses and proceed on betting to those lines on where you do know that you do have the edge to win.
Good money or bankroll management would always have the benefits not to make yourself getting burned too fast.

Dont let your emotion control you or else you would really be having a problem not only on gambling means but even on basic or daily living decisions.

[chaser15]

In my opinion the bankroll should determine how much we betting each time. With a smaller bankroll we should also bet lower for a few games atleast until we recovered our losses.

Keeping in mind your previous loss will just make your strategy ineffective. Don't pressure yourself to recover those losses but instead, focus on the current ones. It's hard to bet when on your mind, you have a target of chasing your losses. You will not be comfortable with your future bets since you will think that what if you lose and how to recover it.

Stay calm and give your best shot at every bet without worrying you will lose.

[Saint-loup]

I think every gambler knew this deep inside, the problem it's very hard for them to always follow it, we keep saying to ourselves to not chase losses but in the end we decided to double our bets because we feel it, or some just wanted to, that's gambling is, and that's why it's hard to control too. I don't have any problem following this, but I don't have any problem breaking it too, as long as I can afford to lose my budget for the gambling session. Being calm will be easy if you can accept losses actually.

I agree with you. Don't chase your losses, is a rule for people who gamble to (try to) make money. But most of gamblers don't gamble to earn money, they gamble because they just like gambling. They even like to lose indeed, because gambling is not anymore gambling when you never lose.

[MCobian]

Every gamblers must have a way to manage bankroll well, which is a matter of how effective we are in managing bankroll.
Especially when we experience losses, of course there is a strong desire to pursue these losses and this can change the rules
we have made. The more experienced people in the world of gambling, they should be able to find a good formula for managing
a bankroll. Because one of the keys to success in gambling is how we manage the bankroll we have.

[FlightyPouch]

Well, that would be different if you are really rooting for a team or a player. I can't just put my bet to another team since they are the real reason I am actually doing that bet. It is true that I let my emotion run but I don't think I will bet if it is another two teams playing and I don't actually support them.

I'm sometimes affected too at this betting with emotions especially if my favorite team is involved.

I will just go with the flow, bet on my favorite team because I want it disregarding how dominant their opponent is.

Generally, it's not that they always losing so still worth putting up a bet. I'm not that blind to just bet on my favorite team even they are weak if I see they don't have the ability to turn the table against a much stronger team.

In my case, that team I usually support is that kind of team that is worthy to say that they are a safe pick in betting like for example I am betting on the Milwaukee Bucks in the regular season but then I lost a lot when they went to Orlando for the playoffs. Well, to be honest, I kind of regretting that I bet on them all the way but still, that didn't change my perspective on their team as one of the best this season.

[maydna]

~snip~

This kind of feeling should be eliminated because it will affect your future decision.
When you put emotion in gambling, you'll never be consistent in the long run as eventually you will lose your focus.

Believe me, I've been there.

I believe you because I've been there too. The feeling of excitement in the match will always be there, no matter we realize it or not. But we need to manage our emotions and don't let it ruin the excitement. When we gamble with our friends, losing or winning will not be a problem because after the match ends, we can have fun with other things. Sometimes, after the match, we go to a cafe, and the winner buys a lot of drinks and food to celebrate his winning. I miss that moment when we gather in one place after watching the match.

[Janation]

I do support a team but I don't just let my emotion run free.

It is true that you are supporting a team but that doesn't mean that you can risk your money with them without doing any analysis or anything that could increase your chances of winning. We are talking about your money here, so you don't need to always just go with that team always, you need to use your head first before your heart as they said it.

Maybe we can start trying on our own experiment, what we do is to gamble consistently and learn how and when to stop when we are in winning or losing situation.

To be honest, I can do that.

I am that kind of individual that is not really that attached to gambling but just do some bettings if I wanted to and stop if I also wanted. That is the reason why I am kind of confused about why other people are having a hard time stopping from wins or losses even if they really needed to stop. I guess we really have different environments that influenced us as we grow.

[South Park]

Money management skills are what separate successful gamblers and traders from those that are long term losers, lets suppose you have a way to make money with sports bets, well all of that does not matter if you bet half of your capital on each game as you only need two losses in a row to go bankrupt, but if you only bet 1% of your capital on each one of your bets the chances that you lose 100 times in a row are incredibly low, so even if you have a streak of bad luck you can always recover.

Nice analogy and actually true. You can extend the life of your $100 and even earn more if you know how to strategize your bets. But if you go big in your bets, losing all your money will be fast and easy. Also, in sports betting, it is better to stick with the sports that you are really familiar of. The more you know the sport, the higher the chance that you will bet right.

Money management is not attractive which is why most people overlook it but I would say that it is probably the most important part of any strategy, if you cannot manage your money properly then there is no method of earning money on sports bets that can be profitable for the long term, however if you have a good money management strategy even a decent strategy can be enough to make you money over the long term if you are really strict in the way you manage your money.