How to manage your betting bankroll?
An outstanding bettor is the one who is able to manage properly its betting bankroll. Independently from being an expert or just a beginner in performing bets’ previews, having a betting bankroll is crucial to succeed over the Bookmakers. In case you don’t have knowledge concerning betting bankroll management, you may consider to read this tutorial, to better understand how you should manage your betting bankroll and have always available funds to bet.
To begin, it is necessary to understand how does betting bankroll works and which are the terms related to financial management. Bankroll is the total amount of money you have available to perform your sports betting. Stake is the confidence level you have while making a preview or a guess, in which a Stake of 1 represents a low confidence level, while a Stake of 10 means highly confident. The Stakes scale usually goes from 0 up to 10, to measure the confidence level at a specific result that you are previewing. A Full stake is the Bankroll percentage that you can/ must invest in a specific bet, depending on your previews and results performance. The better your average performance, the bigger can be your Full stake. As a rule, the Full stake is presented in percentages, being 5% and 10%, respectively low and high performances. Betting more than 10% of Bankroll is never recommended if you are an inexperienced bettor.
Stake different levels
In order to easily understand how does Stakes works for sports betting, lets analyse the existing different levels and how it works in terms of bankroll betting. To correctly manage your bankroll betting you necessarily need to be rigorous concerning Stakes levels, which means, you must bet a 10 only when you really are confident about your preview and that you use a lower Stake for guesses that you consider the correct ones, not being however blindly confident. Lets see the following example:
- Stake of 1 or 2: In general, a low Stake means you are not entirely sure about your guess, thus because your betting in a underdog or because the odd for your bet is too high.
- Stake of 3: Normally, a Stake of 3 also means there is not much trust in the type of bet and/or there is few information available to analyse a certain match. In order to get good results in sports betting, it is crucial to have plenty data regarding the teams and the matches, therefore, when this doesn’t happens, the Stake must be lower to avoid unnecessary risks.
- Stake of 4, 5 or 6: These three Stake’s levels, as a rule, are the most used in sports betting and shows that the bettor has information regarding the event to analyse. However, you must bet with moderation, to avoid making mistakes or take unnecessary risks. Most of the times, when there is many information available regarding a specific match and previews are performed, most Stakes vary from 4 up to 6, depending on the confidence level of the end result.
- Stake of 7 or 8: A high Stake should be specially used when you find outstanding betting opportunities, such as a Value Bet. In both cases, it is possible to perform Stakes of 7 or 8, since the end result confidence level is most of the times pretty high.
- Stake of 9: This type of Stake shows that you are almost entirely sure that your preview is correct and, therefore, you are very confident in the end result. In order to make a Stake of 9, the same rules as the ones for Sure Bets and Value Bets are applied.
- Stake of 10: Generally, a Stake of 10 shows that a bettor is completely certain that it will win the bet. Using such a high Stake should rarely happen and you must only do it when you are totally sure that your bet will win.
Unfortunately many bettors make unnecessary mistakes managing their bankroll betting, such as by using Stakes of 9 or 19 in previews where the confidence level is not that much high. It is necessary to use wisely high Stakes, otherwise the end results will not be satisfactory, and almost for sure you will spend your betting bankroll very quickly, not having any useful results with that.
Types of Betting bankroll
Now that we know how does betting bankroll works and their many existing levels, it is time to practice. A Stake is basically a bet confidence level, but is not a bet. In order to perform a sport bet using a betting bankroll method, it is require a bit more that the Stake definition. There are two betting bankroll methods well knows and highly used in the sports betting industry, that are pressingly the ones we recommend you to explore more carefully. Please notice the following:
The betting bankroll linear betting is the most common method used in sports. In this method, a Full Stake divides linearly in 10 equal parts. To calculate a beting Stake, it is required to use a small mathematical formula, in order for you to fully understand which value you must bet in a certain result, depending on the confidence level (Stake) and on your performance (Full Stake) as a bettor. Lets see the following example: If your Full Stake is §40 and your preview is a Stake of 6, therefore you should bet on that preview about 40 * 6/10 = £24
The exponential Betting is a bankroll betting method more professional and used for experts from the entire world. However, it is a slightly more complex method than the mentioned before. In the exponential betting method, your Full Stake will be divided also in 10 equal parts, whereas each part varies exponentially according to your bet preview level of confidence. In order to calculate your betting value using the exponential management, it is required to use the following mathematical formula: Stake(x) = FullStake * coefficient (10-x). Lets see the following example: If your Full Stake is about £10 and the coefficient 0,67 and you have a preview Stake of 7, therefore your betting value on that preview must be equals to 10 * 0,67(3) = £3,01.
Money in several bookmakers
Adding to all betting methods, it is recommended that you also have available funds in several bookmakers, since it is common to find distinctive odds in each one of them. By having several bankrolls available in different bookmakers, your will have more alternatives to choose from, and you can select which you want to place your bet on a specific event. This type of multiple betting bankroll management is also a way for you to win more money, taking advantage of the better odds offered on the different bookmakers.
Betting bankroll by sports type
Another relevant aspect regarding betting bankroll is definitely all many different sports analysis. As a bettor, you are probably best in a specific sports than in another, for instance in Football or Tennis. In order to more correctly manage your betting bankroll, we recommend you to have different bankrolls for each sports type, accordingly to your level in these sports. Thus, your performance as a bettor in Tennis matches will not affect your football betting bankroll and vice-versa.
Enjoy your bets!