Bankroll Management
Learn how to manage your sports betting bankroll like a pro. Set limits, size bets properly, and protect your funds for long-term success.
What Is Bankroll Management?
Bankroll management is the practice of setting aside a dedicated amount of money for sports betting and controlling how much you wager on each bet. It's the single most important skill for long-term betting success, regardless of how good your picks are.
Setting Your Bankroll
Your bankroll should be money you can afford to lose — never rent, bills, or emergency funds. Most experts recommend starting with an amount you'd be comfortable losing entirely. A common starting bankroll for recreational bettors is $500-$1,000.
Unit Sizing
A 'unit' is your standard bet size, typically 1-5% of your total bankroll. If your bankroll is $1,000, one unit might be $10-$50. Flat betting (same amount every bet) is the safest approach. Never increase unit size after losses to chase.
The Kelly Criterion
The Kelly Criterion is a mathematical formula for optimal bet sizing based on your edge and the odds. The formula is: (bp - q) / b, where b = decimal odds - 1, p = win probability, q = 1 - p. Most bettors use fractional Kelly (25-50%) to reduce variance.
Common Mistakes
Chasing losses by increasing bet sizes is the #1 bankroll killer. Other mistakes include betting too many games per day, parlaying every bet for bigger payouts, and not tracking results. Discipline beats talent in the long run.