Bankroll Bankroll Bankroll!

What exactly is bankroll?  Today we’re going to talk about money management.  The critical skill that can be applied to any betting opportunity (casino / sports) which when used successfully will yield a sharp increase in profits.

Essentially money management is just that.  It is the ability to manage ones ‘bankroll’ as gamblers like to call it, and to know when to quit etc.  

So – today we’re going to look at some basic rules to help us in the long running.

Firstly – avoid the exotic bets – this means you are focusing on straight bets and flat bets only.  Why do exotic bets exist? Sure they are attractive, but chances are you can do exactly the same with multiple straight bets.  Exotic betting helps one person; the bookmaker!

So what is a flat bet?  – Flat betting means betting similar amounts every time you play.  Similar amounts mean more calculated losses and our profits which make it easier to forecast and predict what is going on.  So for example:

Team A) are the favourites – Bet £30 to win
Team B) not so favourite – You bet £10
Team C) the underdogs – You bet £5

So let’s just say that team B and team C have just won, because you weren’t using a flat betting strategy, you’ve lost potential profit from these two bets.  If you had increased your bets to £30 for each team while your risk is slightly higher, your profit is also considerably higher.   Obviously for this to work one has to win more games than you lose, but generally this is not difficult.  What is hard is sticking to your guns and playing it through!