Managing bankroll is an important aspect of successful football betting. By getting the bankroll management correct, one can have ample funds in hand to invest on football betting. It can be achieved through calculated risks, proven strategies and discipline. Let’s explore meaning, benefit and strategies of bankroll management to learn all about it.
What bankroll management means
Bankroll is the amount of money you intend to spend on football betting over a period of time. It can be your weekly or monthly budget for betting. Ensuring that you don’t go overboard and have sufficient bankroll size in hand always is what the bankroll management means. It is quite important for ensuring sustainability of the betting activity and allows the punters to understand if the activity is working in their favor or not.
On joining any football betting site, you are asked to fill your betting account with a deposit. This deposit size is your bankroll and it should not be too small or too large. The punters need to keep a track of all losing and winning bets using a spreadsheet or an app to understand if they are managing their bankroll well or not.
Benefits of bankroll management
Bankroll management is a conscious activity that a punter needs to perform to stay in the betting game for long. The process can offer benefits such as:
- Ample funds in hand for betting: The punters will never face the cash crunch when they have done bankroll management correctly. So, when a lucrative opportunity to bet, which they have analyzed well and found promising comes by, they can make good of it. Also, the betting has to be taken up as a form of recreation and not as a source of living. Thus, bankroll management allows the punters to relish the process and not worry about the cash flow.
- Allows moving on to bigger bet unit size: When you realize that you have entered a winning streak, why not milk the opportunity? But it can become possible only when you have managed the bankroll well and have won extra funds to increase the stake size. So, bankroll management makes it possible to increase the bet size when the punters are confident of winning the ensuing bet. It can help them multiply earnings and become a profit-earning punter.
- Helps avoid reckless spending: Controlling expenditure is a core activity in the bankroll management process. The punters are not betting on every bet that reaches them through any channel. They practice financial discipline, proceed with caution and bet on the event which they are fully confident of happening. Thus, they preserve the bankroll for profitable propositions and don’t get into reckless spending mode. It, eventually, helps them bet more, often and with confidence.
- Helps understand the profitable bets: A punter makes a cognitive effort in identifying the profitable bets so that the money is spent mostly on the event they are confident of occurring while performing bankroll management. This leads them to go through the betting records and find the frequency of wins and the bets that yielded those wins. Thus, while managing the bankroll, the punters come to know about their strong side. It can help them cash their strengths and pick the betting strategy that brings the break-even closer and generates profit over a long period of time.
Bankroll management strategies to follow
Betting involves money and so it has to be managed efficiently. There are a few bankroll management strategies that work well for the punters of various kinds and with different attitudes towards the betting process. These strategies are:
- Flat betting strategy: It is the strategy meant for newcomers but works well for the experienced punters too. The punters spend a fixed amount on bets in this strategy. According to experts, the punters must pick 1% to 2.5% of the bankroll to fix the bet unit. This strategy helps build the performance table and let punters know about the yielding bets. They can increase the bet unit size with time if they are scoring wins, or reduce it in case of a losing streak.
- Percentage model strategy: It is the strategy used when the punters want to make the best of the winning streak. Since the bet amount increases with the increase in bankroll, the punters can get bigger wins to enjoy. Thus, they are able to take bigger chance and get bigger return when the percentage model is applied during the winning streak. The players should be extra cautious and confident about the outcome of the bet for this strategy to work.
- Confidence model: In this strategy, the bet amount is increased when the punter is confident of the bet and reverse is done in case the punter is not too sure but is willing to take a chance. Thus, the bet unit varies and it is to be applied when the punter has won a few bets and want to chalk out the plan for further action.
- Kelly Criterion Model: There is a formula that reads as follows:
Wager Percentage = (Decimal odds of bet * win probability – loss probability) / decimal odds of bet
This formula gives exact amount one can consider betting on the game. Many times, the percentage comes as high as 25%, which definitely can be a big risk. So, to make this model work in favor, the punters must have done extensive research and have mastered the art of guessing winning probability.
To conclude,
Betting can be sustained for long when the punters have learned to manage bankroll. There are several strategies to achieve a dependable bankroll management route. However, all the strategies require punters to be experienced, and being in know of how odds and probability work. They can get extra weightage to their decisions by taking tips from soccertipsters.net, a site that provides predictions on all football games and covers several betting markets. With those tips and personal experience, the bankroll management objectives can be achieved leading to better results from soccer betting.