Video Summary

Effective Bankroll Management in Sports Betting

When it comes to sports betting, it's essential to manage your bankroll wisely to maximize your chances of success. Bankroll management refers to the process of setting aside a specific amount of money for betting, ensuring you're not betting with funds you can't afford to lose. A good starting point is to allocate 1% of your bankroll per game, allowing for a 20-loss buffer before you're wiped out.

Another crucial aspect of bankroll management is unit size. Betting more units on a game with a higher perceived edge may maximize your wins, but also increases your losses. Conversely, betting fewer units on a game with a lower edge may minimize your losses, but also limits your potential gains. A hybrid approach, such as tiered betting, allows you to balance risk and reward.

It's also essential to distinguish between a flat unit and variable unit approach. Flat unit bettors bet the same amount per game, regardless of the edge, while variable unit bettors adjust their bets based on their perceived edge. A variable unit approach can be more lucrative if your edges are correct, but also increases your risk.

Another strategy is to adopt a sniper or shotgun approach. Snipers focus on a few select games with a high perceived edge, while shotguns bet on multiple games. While some may advocate for picking carefully and betting on a few games, the truth is that if you have an edge, it's better to bet on it. However, be cautious when selecting your edges and don't chase losses.

Bankroll management is also about perspective. Stop chasing losses and focus on the long-term view. Incremental gains may seem small, but they can add up over time. Look at your results from a seasonal or yearly perspective, rather than daily or weekly.

Finally, develop a system to identify your true edge. The “roller” system, for example, sorts edges by strength and identifies the threshold where profit turns into loss. By focusing on this true edge, you can optimize your betting strategy and increase your chances of success.