One of the biggest keys to successful sports betting is also something that most casual fans don’t even consider before placing their wagers. Money management is an extremely important factor in terms of building up a profit over the span of a long period of time. It’s incredible that so many casual bettors won’t even consider the value of a successful bankroll method. Each strategy is different so it makes sense to look around and find which strategy best suits your approach. Here is a look at the different types of bankroll methods.
All In Every Time
This strategy is actually quite simple so it’s no surprise it isn’t highly recommended. Some bettors want to go all in, all of the time. While it might seem rewarding while you are winning, the reality is that one loss will completely bankrupt you. This seems like a silly system to use if your intention is building up a solid bankroll over a substantial period of time.
The Martingale system is a little more unique and it’s also very popular. The basic concept behind it is that you double your bet after every loss so that you will recover all previous losses plus a profit equal to the original bet. In theory, this strategy is completely foolproof if you have an unlimited bankroll. However, nobody betting on sports that would consider this approach has an unlimited bankroll so you need to adjust. The key to using the Martingale system for the casual bettor is to start with a lower amount so that you minimize your potential to go bust. By starting small you should be able to effectively cover your losses while giving yourself a chance to bounce back when you do hit that double.
This system is based on betting a fixed amount on every wager. For example, if you have a $1000 bankroll then you could bet $100 on 10 times. The key is that you will bet $100 every time rather than make bets at different amounts. If you win more than you lose then this could be an effective strategy. However, it would be important to bet on underdogs with value rather than betting favorites. It would also be very important to win at a 55-percent rate or better if your goal is to build up your bankroll. This strategy might help keep you from losing too much money at once. However, it also limits your potential winnings when you do select a winner.
One system that helps players avoid losing too much money in a small span is the proportional betting system. In this strategy, you bet a fraction of your balance in proportion to your total bankroll. Therefore if you start with $400 and you decide to risk 10% on each wager, you will start by betting $40. If you win, then your bankroll jumps to $440 and you now wager a larger amount since 10% of $440 is greater than 10% of $400. However, if you lose then you drop to $360, and will bet less on the following wager since 10% of $360 is less than 10% of $400. The proportional betting system ensures you are always betting relative to your total bankroll and therefore it is a very safe system.
The final system to consider is the Fibonacci approach. In this strategy, you increase your bet in a Fibonacci sequence with every win. The system numbers are as follows: 1,1,2,3,5,8,13,21,34,55,89,144. The first two numbers in the sequence are either 1 and 1 or 0 and 1. This method has similar drawbacks to the Martingale system, but if you are on a hot streak then you could go on a nice run before deciding to stop the sequence and start over. This is just one more intriguing strategy that you might use to help improve your bottom line and your ability to build up your bankroll.