I’ve played sports since I could run and toss a ball; sports betting has given me the chance to continue being involved with sports that I otherwise wouldn’t have time to enjoy.
at a massive advantage. Still, sharp bettors are able to implement a system that eradicates the house edge and leads to profits. Yet none of that hard work will amount to a hill of beans if the gambler hasn’t developed a sound financial plan.
Build the ultimate sports betting bankroll, and you’ll have the means to capitalize on your wins. Stack up enough wins, and you could quit your day job.
The Necessity of a Strong Bankroll
Before you can ever make a profit from sports betting, you’ll have to overcome the vig. The vig is the fee charged by the sportsbooks on all losing bets.
You’ve got to hit a winning percentage of 52.4% before you cancel out the vig and make money. That may not sound like a monumental task, but I assure you hitting profitable numbers is insanely difficult.
It is paramount that you have a sustainable bankroll that will keep you in the game when you’re fighting through the midst of a tough losing streak. Build a substantial bankroll, and you’ll always be able to enjoy the thrills of betting on your favorite sports.
More Money Actually Is Better
They say more is better, and when it comes to building the ultimate sports betting bankroll, they’re correct. You want to develop as much money into your bankroll as possible to account for the losses.
Remember that 52.4% is the threshold for becoming profitable. However, many sports bettors get so locked into a specific team that they fall well below the 50% mark. Let’s take a look at what winning 50% of your bets will actually look like to your bankroll. Then you’ll be able to see the importance of building the ultimate sports betting bankroll.
You should only be leveraging 1-3% of your bankroll on any given wager, for starters. Let’s assume your bankroll is $3500, and you choose to go on the high side of that range by betting $100 per game. Sharp bettors will place 1-2 wagers a week, but most amateurs bet way more than they should.
Keep in mind that I’ve given you credit for only betting about 3% of your total bankroll. It’s uncommon to see recreational punters demonstrate this level of discipline regarding bankroll management.
That’s under pretty optimal conditions. If you’re honest about your own gambling habits, I’m sure you could see that you’re losing money much faster.
How Your Bankroll Will Support Your Sports Betting
I intentionally gave you a scenario that closely mimics what savvy sports bettors adhere to because I want you to see the importance of solid money management. When you take the time to build a proper bankroll, stick to a flat betting style, and don’t put your bankroll at significant risk…
However, you lose slowly enough to maintain a healthy bankroll.
That is vital for a few reasons.
- First, it will allow you to stay in the game. Gambling, and specifically sports betting, is all about entertainment. Having a little action on the games definitely adds an element to the experience as a spectator. So, you want your money to take you as far as possible.
- Secondly, when you finally make a breakthrough and see a profit, your bankroll can help you maximize those wins. Bankroll management is not designed to hamstring your gambling habits.
Its purpose is to ensure you can stay in the game for the long haul and maximize wins when they come.
Long-Term Sustainability
Long-term sustainability as a sports bettor is a complicated matter. You either need to have a solid strategy for replenishing your bankroll or learn to win.
This will ensure that you never bankrupt your bankroll, and the extra money will continue to grow your gambling fund. You’ll want to have enough money in your bankroll to make the most profit when the time arrives.
You can’t count on that 50% win rate. Even if you did, you could still lose every bet for six months. Then when it’s time to win, all of your money has dwindled down to nothing. That leaves you with no way to take advantage of the coming wins.
When planning for your financial plan concerning gambling, it’s helpful that you prepare for the worst and hope for the best. Most sports bettors merely plan for the best-case scenario, and when it doesn’t come, are left reeling. Focus on long-term sustainability, and you’ll inherently become a better sports bettor.
Taking Steps to Build a Sound Bankroll
Taking steps to build the ultimate bankroll doesn’t need to be complicated. Merely bet within your means and put more money in than is going out.
It’s no different than having a savings account. Each month many of us pay our bills and have money left over if we’re lucky. That creates a surplus. This surplus can be used to invest, save, pay off debt, be added to a vacation fund, or for our purposes, go into our gambling bankroll.
As your bankroll continues to grow, you’ll start to see your average bet amount increase. However, there’s nothing wrong with keeping your average bets relatively small until you’ve gotten the hang of things.
Knowing When You’ve Made it to Your Target
I hear a lot of sports bettors talking about their target bankroll. I find the notion of having a defined end goal in mind confusing.
Still, with the break-even point at 52.4%, that’s a profit margin of only about 4.5%. This number means you’ve got to wager insane sums of money to enjoy the opulent lifestyle enjoyed by the elite gamblers.
You’ve got to bet enormous sums of money to become an elite sports bettor. Keep in mind that you’ll only get those returns as one of the best sports bettors in history.
Stick to a Flat Bet Amount
Once you have your ultimate sports betting bankroll, you need to keep it healthy. One of the greatest ways to accomplish that is by sticking to a flat bet amount.
You’ll be faced with a challenge as you see your money begin to fade due to the losses. Many punters believe they must start increasing their bet amount to make up for the losses.
Maintain a flat bet amount, and your sports betting bankroll will carry you through the most brutal losing streaks.
Don’t Bet Out of Boredom
Sports betting is fantastic because you’ve got such a massive variety of contests to bet on. You should be cautious about betting too much.
This is precisely what a lot of recreational gamblers will do. Stop making bets because you’re bored, and your bankroll will remain much healthier in the end.
Conclusion
Now you’re ready to build and maintain the ultimate sports betting bankroll.
Taking a pragmatic business-like approach to your sports betting will yield the highest rewards and keep your bankroll growing for as long as needed.
