The most important part of success in sports betting is the ability to find value consistently throughout the season. Behind this, however, lies the ability to properly manage your bank, the amount of money you have set aside for sports betting.
If you do not have a plan or system and you bet random amounts on each bet, it is only a matter of time before you lose all your money in the account.
From our article, you will learn how to manage your betting bank, how much to bet and how much you can win. Finally, we have made you a BONUS – a gift table for tracking results. Enjoy reading!
Why set up a betting bank
We will give you an example with Stu Ungar. He is a poker player who has won over $ 30 million. He loses all his money precisely because he cannot manage his bank properly. Unar is the most talented player, but his failure to manage his bank prevents him from being the most profitable. The same thing happens with many people who win the lottery. They lose their money because can’t manage it properly.
No matter how often or how much you intend to bet, you should be aware of your bank.
- Because this way you will be able to bet on the strategy you have determined (we will explain the best one in our opinion later) and you will not interfere with the emotions that are the main obstacle to winning;
- You will play sensibly, without chaotic betting on directions;
- This way you will be able to keep track of your bets, how much you win, how much you lose, which bets you are more successful at and all the results in general.
What amount to use for the bank
The amount you will deposit or designate as your betting bank must not in any way affect your standard of living and assume that you can do without it.
In sports betting, your knowledge is the maker of money, but your money is the tool you use to turn that knowledge into profit.
Have you ever heard the phrase “Money makes money”? It is perfect for sports betting. You need to be willing to part with your money for a while, to use it properly to make more money.
The amount you set for your bank depends entirely on your financial situation. If you are a beginner, start with a smaller amount and gain a little experience, for example, 200€. If you are advanced, you can play with 1,000€, 2,000€ or more.
It also depends on the target – the profit you set. If you start with a 200€ bank, for example, your real goal for the first month is 200€ net profit. Next month you will have a bigger bank and the target will be bigger every month.
With what amount to play my bets
There are many good strategies for controlling the bank. For some players, one is the most successful, and for others another. Now we will share the most effective for us and I dare say for over 90% of bettors.
With it you bet with a varying percentage of the bank, depending on the security of the prediction, for example from 3 to 5%. If your bank for the month is 200€, you play each bet with 3,4 or 5%, depending on the security, of this amount.
Let’s say it’s the 13th day in the month, and you have lost 20€ since the beginning, ie. you have 180€. Tottenham and Crystal Palace are playing and you think that the odds for Tottenham are high. The bookmaker offers 2.00 to win, and you rate them at 1.70. In this case, you see value in the bet, and in your opinion, it is average good, ie you play it with 4% of the bank. Even though you have 180€, you count 4% of 200€, which is 8€, and you bet it.
Don’t play over 5%, because luck always changes, and if you fix a bigger one in a bad series you can accumulate big losses. Surely you once said to yourself that this is a sure prediction I will play it with a serious amount. This is a big mistake because there are no certain things except taxes and death, and disregard the idea of betting more than 5%.
At the end of the month, you make a conclusion of how you performed and depending on the result, you continue with a smaller, larger or the same bank next.
There are other strategies, such as one in which you play the exact percentage of the pot on each bet, such as 5%. Or one in which the percentage is taken depending on the current bank, and not the one fixed at the beginning of the month. There are many types of strategies, but we believe that this is the most successful and sustainable over time, if you can feel how secure your bets are.
Tracking of bets
None of this will work well if you don’t keep track of your bets and your bankroll. For this reason, we have created a special file for each of you that you can use to record and track your bets and we will now explain how.
- Click HERE to open the file;
- Once opened, click “File” and “Make a Copy”. Name your file in some way and click “OK”;
- You have already downloaded the file to your device and can edit it;
- In the bet list, the winnings and the result are counted automatically, you can only note whether the slip has been won or not. There is also a second sheet where you can write down the withdrawals and deposits you make.
For our clients, we keep such tables directly on the site and summary data, but it is good for everyone to monitor their bets individually to know what results they achieve because they can always miss a prediction or play a lower odds if it is delayed.
It may take time to keep track of your bets, but you will see how big the effect is in the future.
If you are new to betting, you can browse our services, where in addition to teaching you discipline and proper bank management, we will find valuable bets for you and you will only be asked to play them with the right amounts. At the end of the period you will enjoy the good results achieved. Good luck !