Bankroll management in sports betting

Gustavo Fogaça explains the best ways to manage your bankroll in sports betting

There is no successful sports bettor without good bankroll management. The bankroll is nothing more than the total amount of money you will deposit at your favorite bookmaker. When opening an account, you will need to make an initial deposit. This deposit is called "banking".

Consciously managing this initial amount and knowing how to invest so that it grows exponentially is the secret to becoming a profitable gambler.

How much should my starting bankroll be?

It is very important that the money you use for sports betting is not the money you need to pay your fixed bills such as rent, internet, food and transportation. Betting is making an investment and, for that, you must use amounts that are "left over" in your savings for the month.

For example, you go there and get your salary. Pay all bills for the month and 10% of your salary is left over. Instead of spending it on superficialities, you can use this money to make investments in variable income, as in the case of sports betting.

This amount, which you will not need for your day to day and which you will use to deposit your account at your bookmaker, is your bankroll.

How do I manage my bankroll well?

The first thing of all is you create a method. There's no way to do good bankroll management without a method. That way, you limit your investments to only those markets and events that match your studies, your planning and your strategy.

It's good to remember: the world of betting offers many possibilities and if you start investing outside your method, you will probably break your bankroll faster than you think.

Second, it is very important that you have good emotional control. Knowing how to control impulses and emotions is a determining factor for anyone who wants to succeed in sports betting.

If, even keeping your strategy and method validated, you end up having one or more rounds of losses, don't get carried away by the emotional that will lead you to drop everything. Just like if you're on a good streak, don't believe it will always be this way.

Finally, within your method, you need to define your stake. Stake is nothing more than the percentage of your bankroll that you will invest in each game or market that you have defined in your method.

Let's say for example that your bankroll is R$100 and you will use a 5% stake in each game. That is, you will invest R$ 5 in each bet you make.

The stake is super important because with it you can control your bankroll and have an idea of what you win and what you lose. My suggestion is that you always work with small stakes, especially if you are new to betting. Try not to exceed 10% of your bankroll.

Track all your innings, greens and reds in one spreadsheet. Stay true to your method and know how to control your emotions. That way, you will have good bankroll management.

A final tip: set aside 10% of your earnings to inject back into your bankroll and thus make it more and more wealthy.