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Bankroll management

A properly aligned sports betting strategy, also known as bankroll management, is well worth paying attention to, as it is an important condition for making a profit. Poor bankroll management is the main reason that recreational bettors lose their money.

After reading this betting guide, you will understand why it is important to take your bankroll management seriously. On top of that, we will make some recommendations so that you will place your bets rationally.

Bet without emotions

An accurate bankroll management will prevent emotions from taking over. A classic example of emotions influencing your behaviour is the well-known gambler’s fallacy. The gambler’s fallacy, also known as the Monte Carlo fallacy, occurs when an individual erroneously believes that a certain random event is less likely or more likely to happen based on the outcome of a previous event or series of events. For example, when you manage to lose five bets in a row, you might think that the chance of winning the next bet has increased and is now greater.

Sports betting bankroll management

This may cause you to increase your staking size with the next bet, because you think it definitely will be a winner now. However, this assumption is completely false! Never do this, also not to compensate for earlier losses.

Proper bankroll management

If you want to become profitable with betting in online sports, you not let your emotions take control. To help you with this issue, we will provide you with some proper bankroll management tips, so you can get the most out of our Transparent Bets service.

All the bets, provided by our team of experts, come with a certain amount of units that we suggest to put at stake. This number ranges from 1 to 5 and you should decide how much money you want to assign to 1 unit. As a reference, we advise our clients to take about 1% of their bankroll per unit.

In addition, accurate bankroll management should ensure that you do not lose all your money because of short term variance in sports betting. In the long run, the number of bets gets larger and the variance will even out due to the law of large numbers.

Last but not least: do not bet more than you can afford to lose!

See also:

Accumulators, a bad idea

See also:

5 golden rules in sports betting