Do you place all your money in a single wager? Have you asked yourself how much to spend on the wager? If not, then you must understand the concept of Bankroll and how to protect the same while placing the bet. A bankroll is the total amount of money that you keep aside, especially for betting and gambling. To practice keeping eye on your bankroll, visit Joker123 casino and place a few bets.
Now, you may think, why is there a need for Bankroll? Well, betting is highly volatile and completely unpredictable in nature, and the same will attract you to pour more money to win more money. But you must avoid such circumstances and must go for Bankroll. Here, you will get to know about various aspects of protecting your sports betting Bankroll, so let’s start the journey.
An Ideal Wagering Amount For Each Game
Before heading to the methods, you must understand how much to bet on each game, as the same will reduce the loads on your bankroll. An ideal wagering amount for each game is 1% of your bankroll. For instance, if your bankroll is $1000, then for each game, the wagering amount to be placed is 0.01×1000= $10. Now, the said amount is your unit size, and you must follow the same at least for a month.
Understand The Concept Of Unit In Sports Betting
Unit is a term used to measure the hike in the standard wager. For instance, if your standard wagering amount is $100 and you made it to reach $1000, it means you have gained 10 units. The concept of the unit is important in sports betting as it will help you know how much you have earned against the standard wager.
Most Efficient Ways To Secure Bankroll In Sports Betting
Sports betting is a mind game where you have to apply your skills to win the bet. While playing the bet, you must focus on the bankroll and need to build over time as sports betting is a long-run game. Here some methods are provided to secure the Bankroll, and it’s time to have a look.
Flat Betting
As a sports bettor, it is necessary to stand for the long-term, and if you follow the short path, it is highly possible you will blow your bankroll. Flat betting is a long-term approach where each unit is fixed for each bet; in short, your fixed amount will be used for betting in each game. For instance, if your bankroll is $100 and you are going for ideal betting standards, i.e., 3%, it means $3 is the amount you can bet on each game. Likewise, the betting money will change as per your chosen betting proportion, but an ideal one is 2%.
Flat betting balances your bankroll, and if you stick to the unit size for the long term, you will get a good return on investment. However, such an approach won’t give you ample benefit, but it will help you maintain your position in sports betting for the longer term.
Kelly Model
Kelly Model is quite famous in sports betting, which gives you the path to know the bankroll percentage you must use in betting. The model relies on the mathematical approach and depends on the difference between the win & loss probability and your wager odds.
Bankroll percentage to bet= [wager odds x wins probability-(loss probability)/wager odds]x 100
Here the wage odds are the odds minus 1; let us understand this formula with an example. If your odds are 3.0, the wager odds will be 2, and your winning probability is 60%, and loss probability is 40%; in that case, the amount you should place for a bet against your bankroll will be= [2x 0.6- (0.4)/2]x 100= 4.
Figure 4 tells you that your betting amount should be 4% of your bankroll, and as the experts, the standard betting amount against the bankroll lies from 1% to 5%. Kelly’s model is very much efficient in sports betting and, considering the same, will help you to protect your bankroll.
Percentage Sports Betting Model
In the percentage model, the unit size is determined by the percent of your bankroll. For instance, if your bankroll is $1000 and you have chosen to go with 2% of your bankroll for betting in each game, if you win the game, your bankroll will be $1020. For the next bet, the unit size will change, and it will become 2% of 1020 which will come to $20.4. This figure shows that your unit size has increased to $0.4, this figure looks small, but if your bankroll is big, then as per the percentage model, the unit size will also increase.
The percentage model directly affects the bankroll, and it is impossible to win every game in sports betting to enhance your bankroll. But the good point is that after every successful win, your wagering amount will increase, and once you are satisfied with your winning amount, you can quit the game.
Confidence Sports Betting Model
The confidence model enables you to increase your unit size in a game, and it is good for you if you are confident of your winning. For instance, if your unit size for the bet is 1.0u, and you are very confident that you can win the game, you can increase your betting unit size to 3.0u. However, moving ahead of the limit size is never recommended because your bankroll will be highly affected if you lose the game.
So, if you are a good sports bettor and know the betting insider very well, you can go with this model, but make sure not to go with the upper limit of unit size.
Bottom Line
Sports betting is truly unpredictable, and to stand in this industry to gain the advantages of winning stakes, you must focus on the security of your bankroll. Flat betting is quite popular in this field as it divides your bankroll into units to bet in each game.
Additionally, the Kelly model is also useful in protecting the bankroll. However, if you go with the percentage model, make sure to put your step back at the right time; otherwise, your bankroll will get affected.
