UPDATE: I’ve just created a simple free bankroll management calculator for you below..
One of the most important things I’ve learned over the years as a sports bettor is that you have to manage your bankroll correctly if you don’t want to go bust.
I remember when I first started I was so sure that a team was going to win that I’d bet 50% or even 100% of my roll on any one single game.
I remember winning a bunch of money when I started but of course it wasn’t long before I went bust and lost all my profits and my initial bankroll.
And then I remember finding a tipster who had a good track record so I started betting only 20% of my roll on each game but of course he ended up losing 5 or 6 in a row and again I busted my roll.
Let’s be honest, I was a complete newbie and a bookmakers dream.
But then I began to wise up to the importance of bankroll management, they say the best way to learn is through your own mistakes.
Before long I found the ZCode System and they actually do a pretty good job at explaining bankroll management but I like to keep things simple.
What I do nowadays is I only invest 5% of my bankroll on any one game.
That means I’d have to lose 20 in a row to go broke fast which I don’t think will happen now that I’m following the ZCodes proven systems.
So why am I writing this post?
Well this is pretty much just a message to anybody new to sports betting or people who are struggling with big losses.
If you wanted to be even more conservative then you could risk only 2% of your bankroll on any one game.
The thing you need to remember about sports betting is that bad runs can and will happen.
Even the best sports bettors can lose 5-10 games in a row which can be devastating to your bankroll if you’re not conservative.
So is there a downside to being conservative?
Well yeah, if you win 10 in a row then you’ll kick yourself for not betting more but that’s just something that you’ll have to live with.
As a member of the ZCode which helps me make the right bets so far my longest losing streak has been 6 in a row which would have been devastating had I been betting 10-20% of my roll but seeing as I risk around 5% that losing streak only cost me 30% of my bankroll so I had plenty left to spare.
On the other hand my best winning streak has been 17 wins in a row which helped grow my account by 85%.
Anyway what I’ve done is created a little calculator for you below.
Simply enter in your current bankroll amount and then select a risk setting and it will tell you how much to risk per game!
I hope you find this bankroll calculator useful!
Anyway sports betting is not a sprint it’s a marathon. If you try to get rich quick then it’ll turn around and bit you in the ass.
Instead it’s all about making the right decisions over and over again and capitalizing on your edges.
So don’t put too much risk out there, be conservative with your bankroll so you can weather any downswings you may encounter.
Good luck and let me know if you have any questions!