Video Summary

Handing your bankroll is crucial for a winning sportsbettor. It's the most important aspect of sports betting, and many people misunderstand it. Bankroll management is important because it prevents you from chasing losses and getting into debt, and it also prevents you from getting carried away when you're on a winning streak.

There are three types of bankrolls: professional, fixed, and variable. Professional bettors have large bankrolls and bet a small percentage of their bankroll, usually between 0.5% and 1.5%. Those with a fixed bankroll have a set amount they budget for the year and bet a percentage of it, usually 1-3%. Recreational bettors have a variable bankroll, which they add to as they go, and bet between 1-5% of their bankroll.

To manage your bankroll, you should set milestones based on your profit or loss. For example, if you start with a $10,000 bankroll, you might set a milestone at 20% above what you started with, or 12,000. When you reach that milestone, you can adjust your bet size. The key is to never let your bankroll get too high or too low. This helps you grow your bankroll safely and gives you a goal to work towards.