Every successful bettor knows how to manage the bankroll. However, if you are a beginner, you should learn how to manage your sports betting money. In this iGaming Korea guide, we will take you through the basics. Also, we will share more sophisticated money management techniques.
Every player needs to be conscious of their bankroll. It doesn’t matter how often they want to wager on sports. Also, it is necessary to combine research and sports knowledge with some mathematical skills.
Steps on How to Manage the Bankroll
The best thing about managing the sports betting bankroll is that you only need to know three easy steps.
1. Determine the Bankroll Amount
How much money will you deposit into the sportsbook for basketball betting? The answer depends on your finances. Also, don’t wager money that you can’t afford to lose. The amount depends on your definition of what you can afford to lose. One thing that you need to consider is the status of your finances.
2. Pick a Unit Size
A unit is an amount you will bet each time you wager on sports. Thus, it would be best to determine the portion of the bankroll you wager on an event. For beginners, we suggest keeping the unit consistent. Also, it should be around one to five percent of the bankroll. According to betting odds experts, most conservative players bet one to two percent of the bankroll each wager. On the other hand, aggressive players bet three percent of their bankroll. If you are already an experienced player, consider increasing the unit to four to five percent of the bankroll.
3. Reevaluate the Bankroll
Sports wagering is dynamic. It would help if you considered recalculating the unit size. Whether you are losing or winning, you need to adjust the bankroll or unit size. If you are in a losing streak, reduce the unit size before the bankroll disappears. That way, you can avoid losing too much.