Video Summary

In the world of sports betting, managing your bankroll is crucial for success. Many bettors make the mistake of not paying attention to their bankroll or not using it wisely. This can lead to devastating losses and a damaged bankroll. In this article, we'll discuss how to properly manage your bankroll and set realistic goals for yourself.

First, it's essential to set a goal for your bankroll size and set a realistic goal for the month. Aiming for a 5-10% return on investment is a reasonable goal, taking into account 5-10 unit sizes. This means that even with a $100 bankroll, you can still make a profit by gradually increasing your bets as your bankroll grows.

Another crucial aspect of bankroll management is betting size. Aim to keep your bets between 1-3% of your bankroll. This means that with a $1,000 bankroll, you should be betting $10-30 per game. This may seem low, but it's a strategy that guarantees you can't lose your entire bankroll, even if you go on a bad streak.

Parlays are a different story, as they're riskier and can quickly deplete your bankroll. If you do choose to make parlays, keep the stakes low and realize that they should be treated as entertainment, rather than a serious way to make money.

Remember, even small profits can add up over time. With a well-managed bankroll, you can enjoy a steady stream of income and avoid the pitfalls of irresponsible betting. By setting realistic goals and understanding the importance of bankroll management, you can achieve success in the world of sports betting.