How To Build A Bankroll Sports Betting

Sports betting bankroll management is often overlooked by many in the world of gambling, but it’s something that can be an essential tool for success if used correctly. Every bettor needs a plan. We’ll delve deep into the concept of bankroll management, betting systems, betting strategy, and how to make good use of various bankroll.

  • Can you make up your mind? Are you willing to commit to doing whatever it takes? If not, you can't even hope to generate a living betting on sports. Start With a Large Bankroll – Bankroll Management. You have to place a lot of big bets in order to win $100,000 a year betting on sports. Professional sports betting works like investing.
  • How to Bet On Sports Bankroll Management. Many sports bettors simply focus on betting systems and strategies that will be profitable. After all, without a good betting system, we won’t make any money, right? The same thing can be said about money management.

Improving your Sports Betting to Build that Bankroll in 5 Simple Steps

There is nothing better than placing a bet on a sporting event and sitting back and watching the money roll in as the team / player wins. Unfortunately however, this doesn’t happen quite as often as we would all hope, as the vast majority of gamblers will lose money in the long run - many without realizing why. Some good news though - there are a number of steps you can take to ensure that your gambling fortunes improve!

In this article I look at five aspects of gambling where you’ll be able to make immediate improvement by detailing the mistakes people make and suggesting a better approach.

Of course, every bettor knows that consistently selecting the best lines (odds) and the best value from sports betting bonuses and promotions are also important. The detailed sportsbook reviews here at High Tech Gambling will help you get the most from these vital areas.

Building a Sports Betting Bankroll - Step One – Be Selective

Many gamblers will place a bet on whatever event is on the TV. This might be because they have a particular interest in the sport, they are a fan of one of the teams/players or simply because they want to have a bigger interest in the game. However, by betting on anything that is on TV, you are not being selective at all – in fact the television companies are almost selecting your bets for you.

By all means look at the odds for a live televised event and if a particular bet does stand out, then go for it. However if nothing stands out, don’t place a bet and wait for a better opportunity – never bet for the sake of it. Top australia online casinos.

Building a Sports Betting Bankroll - Step Two – Don’t Increase your Stakes When Winning or Losing

Winning feels great and winning also breeds confidence. However in gambling this can be a dangerous combination, as many people will happily increase their stakes when winning as they feel invincible. A gambler who has won £500 on a given weekend might happily place a bet for £250 at the end of that weekend when normally their maximum stake is £10. Why risk giving half of your profit back to the sportsbooks? Stick to the same £10 stake and that win will keep your gambling bankroll happy for a long time.

On the other hand, you might be on a losing run and take a shot at winning it all back in one go with one oversized bet. This is another huge mistake, as you have to consider what happens if this bet loses? Do you take an even bigger sizes shot to win THAT bet back as well? This is one of the most dangerous things you can do when gambling.

Building a Sports Betting Bankroll - Step Three – Accumulators Cost you Money

For many sports bettors, accumulators (or Parlays) are seen as the ideal bets to place, with the offer of a big money payout for a relatively small stake. However these bets are the ones that bookmakers and sportsbooks love the most. Consider that every bet you ever place has an in-built house edge, where the bookmaker will only actually pay out a percentage of the money they bring in (this might be 95% or less). Now consider what happens when you place an accumulator with this 95% payout. The expected return for the first leg is 95%. The expected return for the 2nd leg is 95% of the 95%, which equates to 90.2%. A 5 leg accumulator sees a return of just 77%, a 10 team accumulator sees a return of just 60% and a 20 team accumulator sees a return of just 36%. You can quickly see why bookmakers love these bets.

Building a Sports Betting Bankroll - Step Four – Don’t Bet just Because you Think a Team / Player Will Win

One of my biggest pet hates when watching sport on TV is when a commentator/announcer states that a team or a player ‘have got to be a good bet to win’. It happens all the time, but how can you know if something is a good bet to win if you don’t know the odds you’re being offered? However, many people make this mistake by simply deciding to place a bet in exactly this way – blindly betting on a team/player without actually giving any consideration to the odds. For example – you might think that ‘Chelsea are a good bet to win the Champions League’. At this point stop and consider what their chances are. If you think they have a 1 in 8 chance, do you really want to back them at 4/1? However, should you see a bookmaker offering 12/1, then go ahead! Only bet when you think you are receiving value for money.

Building a Sports Betting Bankroll - Step Five – Take the Wider View

Have you ever placed a bet where you consider a team or player to be a certainty without considering the opposition? For example, you might see Roger Federer playing a lesser known tennis player, or Barcelona taking on a club from Eastern Europe in the early stages of the Champions League. These are always dangerous bets, as you might know all there is to know about one side of the contest, but you have no knowledge of the other side. Spend some time checking out the opposition and you might see a good reason not to place the bet, or to even change your mind completely and bet the other way. In this day and age there is no excuse not to do your homework as there are so many resources online. Betting blindly with no idea about the opposition is a mistake waiting to happen, and if it does, you will only have yourself to blame.

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This very slick site offers top-rated odds; a huge range of bets and a big list of player promotions (really, check the latest before you bet elsewhere). This now includes an excellent 100% profit boost offer for all new players.
32Red are my go-to betting site, you’ll quickly find out why once you see www.32red.com/sports for yourself - check them now!
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More Sports Betting Strategy Articles:

  • Betting on US Sports (Sitemap for the many detailed US sports betting strategy pieces here at HTG)
  • Bovada Sportsbook Review (the most popular offshore sportsbook for US bettors - and the best!)
  • <-- Back to the Online Sports Betting Main Page
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Betting on sports is one of my favorite gambling activities. I’ve always been a sports fan and played for as long as I could when I was younger. Betting on sports is also one of the few gambling activities where you can overcome the house edge and make a profit.

One of the biggest problems with making a profit while betting on sports is if you can learn how to get an edge. And in order to make a lot of money, you need to have a large bankroll. In the first section below, I’m going to show you the numbers that explain why you need a large bankroll.

Most sports bettors don’t have $50,000 or $100,000 they can use to start betting. But there’s an easy way to build your sports betting bankroll that I’m going to show you in this article. The best news is that you can start building your bankroll using this method even if you’re not a winning bettor yet.

You can use this method to build your bankroll while you gain more experience and figure out how to win.

Why You Need a Big Bankroll When Betting on Sports

The reason you need a big bankroll as a sports bettor is because the margins are small. In order to break even against the vig, you have to win between 52% and 53% of your games. Winning sports bettors are able to win between 53% and 55% of the games they bet. These numbers are based on betting games with a point spread and a vig of 10%.

Many inexperienced sports bettors underestimate how hard it is to win on a consistent basis. I’ve seen bettors run numbers like the ones in this section assuming they can win 60% or more of their bets. This is unrealistic, and the numbers derived from this are worthless. It’s extremely hard to get to 55%, and only a few bettors can do it consistently. But at least it’s realistically possible, so here are some numbers using 55% to show why you need a large bankroll.

If you bet on 100 games every month and win 55% of your bets, you win 55 games and lose 45 games. Here are the profit numbers at several different average bet amounts.

  • Betting $11 to win $10 on each game is a total amount wagered of $1,100. You don’t receive anything back on your 45 losses, and you receive $21 back on each of your 55 wins. You get your original wager of $11 back and a win of $10, for the $21 total. 55 wins times $21 is $1,155. When you subtract your total amount wagered of $1,100 from this, your profit for the month is $55.
  • Betting $55 to win $50 on each game is a total of $5,500. On the 55 games you win, you receive $105 back on each game for a total of $5,775, for a profit of $275 for the month.
  • Betting $110 to win $100 on each game is a total amount wagered of $11,000. Your return on 55 wins is a total of $11,550, for a profit of $550 for the month.
  • Betting $220 to win $200 on each game is a total of $22,000. The return on your 55 wins is $23,100 for a profit of $1,100 on the month. And so on.

In order to make a decent amount of money betting on sports on a monthly basis, you either have to bet on more games or bet more on each game. It’s challenging to find 100 games every month you can bet on that offer value. Most games have lines that are tight enough that there isn’t much value on either side.

The amount of money you consider as decent profit depends on how much you’re able to make doing something else. Some people consider $2,750 a month decent money, and others can make more than $5,000 a month doing something other than betting on sports.

It doesn’t matter how much you need to make betting on sports; the point is that you have to risk a large amount of money in order to have a chance to make decent money.

If you can truly beat the vig, you don’t need a bankroll as big as someone who can’t beat the vig, but you still need a large amount to ride out the ups and downs. Even winning sports bettors have losing streaks.

The minimum bankroll you should have as a winning sports bettor is enough to cover all of your wagers for a month. Using the examples above, if you’re good enough to win $5,000 a month betting on 100 games, you need a bankroll of at least $100,000.

The only other thing you need to be aware of is that once you get into the area where you need to make large bets on many games, you might find it challenging to get enough money down on enough games. The easiest way to do this is live where there are many sportsbooks, but online sports betting helps.

Simple Sports Betting Bankroll System

The easiest way to build your sports betting bankroll is to add a set amount each week. Keep adding the same amount each week and your bankroll will continue growing, even if you’re still improving your skills.

How To Build A Bankroll Sports Betting Sites

Here are a couple examples using $110 a week. You can use the same easy math I use below to run the numbers using a different amount. The average sports bettor wins half of his or her bets, so I’m going to use 50% for one example and 55% for another example. I’m also using bets on 10 games every week in these examples. As you improve and your bankroll grows, you can bet on more games every week if you can find enough value to do so.

On your first week, you start with a total bankroll of $110. You make 10 bets of $11 to win $10. If you win five games and lose five, you have $105 at the end of the week. You add $110 the second week, for a new total of $215. In the second week, you can stick with betting 10 games at $11 each or you can bet on more games. You can also bet more than $11 per game. I recommend keeping your bet size down as you’re learning, because it helps your bankroll grow faster.

Here’s how much your bankroll grows to at the end of a year if you stick with 10 bets of $11 each every week and win 50% of your games. Your total contribution to your bankroll is $5,720, you bet on 520 games and win 260 of them. Even though you don’t win enough to overcome the vig, you still end the year with a bankroll of $5,460.

Now, let’s look at what happens using the same numbers when you win 55% of your games. You still risk $5,720 on the year, but your return is now $6,006. And you’re still adding $110 every week in addition to your profits, so your bankroll grows faster.

How To Build A Bankroll Sports Betting Tips

How

Earlier, I suggested keeping your average bet size low while you learn how to be a winning sports bettor. Once you start winning close to 55% of your bets, you need to start ramping up your bet size. Assume you end the first year with $6,000. Instead of betting $11 to win $10 on 10 games each week, now you bet $33 to win $30.

Your total amount bet over the course of the second year is $17,160 and your return on this at 55% is $18,018. In addition, you add another $5,720 to your bankroll through your regular contribution every week. This gives you a total bankroll of almost $24,000 to start your third year.

Keep increasing your average bet size as your bankroll grows, and you can build a large sports betting bankroll in just a few years. The keys are to make consistent additions to your bankroll and continue improving your skills.

Conclusion

I know this isn’t a sexy way to build a sports betting bankroll, but it’s a guaranteed way to grow it while you learn how to win. Even if you struggle to become an overall winner, your bankroll keeps growing. Once you start winning more games, your bankroll grows even faster.

While it’s hard to believe, you can grow your bankroll to over $100,000 in five years or less with only $110 a week if you can learn how to win 55% of your bets. This requires an aggressive average bet strategy, but you can do it without a large risk of going broke.

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