Topic: Know what bankroll management is in sports betting? - page 7. (Read 64289 times)
Looks near to the perfect on paperwork or for making a master thesis but let's accept the reality and move on with it. The idea of gambling is not only having fun, entertainment, and checking Youtube streamers is more fun for me. The main idea is to increase the bankroll and run fast from the casino. If the only idea is to have fun, then either the money is no a problem or he really likes adrenaline on gambling. Otherwise, demo play is enough for reaching the same "fun level". Just my 2 cents.
What is very difficult in all of what you have posted here is to never chase your losses, what I notice to most of the gamblers either they are new or old gamblers is that they became hot after they are lossing and they will not stop until they cannot recover their losses.
And they end up lossing all their money in the end as there are very few only who were able to recover their losses in this kind of situation. A calm mindset is very important in order to avoid those kind of happenings but sometimes we forget this once we are already losing our money in the midst of our gambling session.
And they end up lossing all their money in the end as there are very few only who were able to recover their losses in this kind of situation. A calm mindset is very important in order to avoid those kind of happenings but sometimes we forget this once we are already losing our money in the midst of our gambling session.
This is one of the major topics that is never covered here (or maybe I haven't seen any such threads related to this).
Deciding Units
I have seen many people getting confused about units and how to set it. Well, I've got a simple formulae here - just divide your bankroll by 100 and you'll get your 1 unit cost. Means, if you have $100, you should bet no more than $1 per bet doesn't matter you win or lose. This will give you 100 bets in total with 100 units available to play with.
Never chase your losses
Only asses chase losses! Haha, jk. But still, there's no need for you to go and double your bet every single time just to chase your total loss and get into profits. Trust me, if you eventually turn your gambling habits from being greedy to becoming a smart gambler, you will be in much better profits than just gambling it all away at once and chasing could be really dangerous for your bankroll's health.
Calm mindset
There is no need to feel bad for your loss, even if you lose 1 unit, you still have 99 left, so 2 more wins and you are in profit. Don't go all in on one bet, instead place your bets in parts. Opportunities are available every single day in sports betting, but don't bet like a gambler, bet as a sports investor and apply the rule of "1 bet 1 unit" and I assure you that you'll become a much better gambler one day.
Have an edge over yourself
It's not funny to gamble tbh, some people do it for fun but where's smartness in losing your money? Will you be called smart? No, right? It's better to only use and invest your bankroll in those games over which you have an edge. If you are sure about the game you are betting, then only use your 1 unit on that game, otherwise no need to gamble based on half (or 0) knowledge because we are talking about smart gambling and managing our bankroll. This assures that you have higher chances of winning over losing, and this edge will only help you gaining much more profits in the long run. If you don't know about a game, or yours is a few days ahead, just don't gamble and wait some days and let your expected game arrive.
100th of the total bankroll as a bet might not work for everyone. For instance, I don't have a monthly sum to spend on gambling or something like that, and I don't hold significant sums in my casino wallets. When there's something interesting going on and I want to place a bet, I deposit some money and spend it over a relatively short period of time on a few bets, and that's it. It doesn't lead to uncontrollable spending, and I've never lost too much, so it works fine for me.Deciding Units
I have seen many people getting confused about units and how to set it. Well, I've got a simple formulae here - just divide your bankroll by 100 and you'll get your 1 unit cost. Means, if you have $100, you should bet no more than $1 per bet doesn't matter you win or lose. This will give you 100 bets in total with 100 units available to play with.
Never chase your losses
Only asses chase losses! Haha, jk. But still, there's no need for you to go and double your bet every single time just to chase your total loss and get into profits. Trust me, if you eventually turn your gambling habits from being greedy to becoming a smart gambler, you will be in much better profits than just gambling it all away at once and chasing could be really dangerous for your bankroll's health.
Calm mindset
There is no need to feel bad for your loss, even if you lose 1 unit, you still have 99 left, so 2 more wins and you are in profit. Don't go all in on one bet, instead place your bets in parts. Opportunities are available every single day in sports betting, but don't bet like a gambler, bet as a sports investor and apply the rule of "1 bet 1 unit" and I assure you that you'll become a much better gambler one day.
Have an edge over yourself
It's not funny to gamble tbh, some people do it for fun but where's smartness in losing your money? Will you be called smart? No, right? It's better to only use and invest your bankroll in those games over which you have an edge. If you are sure about the game you are betting, then only use your 1 unit on that game, otherwise no need to gamble based on half (or 0) knowledge because we are talking about smart gambling and managing our bankroll. This assures that you have higher chances of winning over losing, and this edge will only help you gaining much more profits in the long run. If you don't know about a game, or yours is a few days ahead, just don't gamble and wait some days and let your expected game arrive.
And regarding the last point, I think it's smart to gamble for fun because paying for entertainment is normal. If one wants to earn money, one should find a job. Most people who are determined to win from gambling turn out to be losing. And if gambling is entertainment, a person can choose to gamble blindly or to do research, whatever works better to satisfy one's needs. As for not chasing losses and being calm, I agree with that.
Deciding Units
I have seen many people getting confused about units and how to set it. Well, I've got a simple formulae here - just divide your bankroll by 100 and you'll get your 1 unit cost. Means, if you have $100, you should bet no more than $1 per bet doesn't matter you win or lose. This will give you 100 bets in total with 100 units available to play with.
That's fine to implement and I've implemented them too, but what about the odds to consider?I have seen many people getting confused about units and how to set it. Well, I've got a simple formulae here - just divide your bankroll by 100 and you'll get your 1 unit cost. Means, if you have $100, you should bet no more than $1 per bet doesn't matter you win or lose. This will give you 100 bets in total with 100 units available to play with.
I have tried this formula in the past but still, if I only place low odds then it will only be a waste of time and even a bigger loss and vice versa, if I place bigger odds it might be bad luck in myself. so nothing really works out well. Maybe you guys have a better luck rate than me, so applying a formula like this will still make you profitable and comfortable doing it.
Have an edge over yourself
It's not funny to gamble tbh, some people do it for fun but where's smartness in losing your money? Will you be called smart? No, right? It's better to only use and invest your bankroll in those games over which you have an edge. If you are sure about the game you are betting, then only use your 1 unit on that game, otherwise no need to gamble based on half (or 0) knowledge because we are talking about smart gambling and managing our bankroll. This assures that you have higher chances of winning over losing, and this edge will only help you gaining much more profits in the long run. If you don't know about a game, or yours is a few days ahead, just don't gamble and wait some days and let your expected game arrive.
Unfortunately it's not like that, I bet several times on the team that is sure to win on paper but the result actually loses. If you bet on a team that is believed to be winning it can be a blunder in sports betting, because with you overconfidence it will make you make a bigger bet. In sports gambling or any gambling it cannot be like this or easy to imagine and say, because in practice it is very difficult because there is a luck factor that determines an outcome. It's not funny to gamble tbh, some people do it for fun but where's smartness in losing your money? Will you be called smart? No, right? It's better to only use and invest your bankroll in those games over which you have an edge. If you are sure about the game you are betting, then only use your 1 unit on that game, otherwise no need to gamble based on half (or 0) knowledge because we are talking about smart gambling and managing our bankroll. This assures that you have higher chances of winning over losing, and this edge will only help you gaining much more profits in the long run. If you don't know about a game, or yours is a few days ahead, just don't gamble and wait some days and let your expected game arrive.
I do support a team but I don't just let my emotion run free.
It is true that you are supporting a team but that doesn't mean that you can risk your money with them without doing any analysis or anything that could increase your chances of winning. We are talking about your money here, so you don't need to always just go with that team always, you need to use your head first before your heart as they said it.
It is true that you are supporting a team but that doesn't mean that you can risk your money with them without doing any analysis or anything that could increase your chances of winning. We are talking about your money here, so you don't need to always just go with that team always, you need to use your head first before your heart as they said it.
Maybe we can start trying on our own experiment, what we do is to gamble consistently and learn how and when to stop when we are in winning or losing situation.
To be honest, I can do that.
I am that kind of individual that is not really that attached to gambling but just do some bettings if I wanted to and stop if I also wanted. That is the reason why I am kind of confused about why other people are having a hard time stopping from wins or losses even if they really needed to stop. I guess we really have different environments that influenced us as we grow.
Well said, People do have differences and the environment around them also influenced their views in regards to this activities. There are some who just like you ho controlled their gambling engagement.
But their are also gamblers who fully attached who can't controlled things once they are already engaged, even so, self will and that's the very hard part when your attachment is already deep.
It's good for those who can managed it while bad for those who are still unable to control
as they will continue to lose until they figured it out how to properly manage it.
Money management skills are what separate successful gamblers and traders from those that are long term losers, lets suppose you have a way to make money with sports bets, well all of that does not matter if you bet half of your capital on each game as you only need two losses in a row to go bankrupt, but if you only bet 1% of your capital on each one of your bets the chances that you lose 100 times in a row are incredibly low, so even if you have a streak of bad luck you can always recover.
Nice analogy and actually true. You can extend the life of your $100 and even earn more if you know how to strategize your bets. But if you go big in your bets, losing all your money will be fast and easy. Also, in sports betting, it is better to stick with the sports that you are really familiar of. The more you know the sport, the higher the chance that you will bet right.
I do support a team but I don't just let my emotion run free.
It is true that you are supporting a team but that doesn't mean that you can risk your money with them without doing any analysis or anything that could increase your chances of winning. We are talking about your money here, so you don't need to always just go with that team always, you need to use your head first before your heart as they said it.
It is true that you are supporting a team but that doesn't mean that you can risk your money with them without doing any analysis or anything that could increase your chances of winning. We are talking about your money here, so you don't need to always just go with that team always, you need to use your head first before your heart as they said it.
Maybe we can start trying on our own experiment, what we do is to gamble consistently and learn how and when to stop when we are in winning or losing situation.
To be honest, I can do that.
I am that kind of individual that is not really that attached to gambling but just do some bettings if I wanted to and stop if I also wanted. That is the reason why I am kind of confused about why other people are having a hard time stopping from wins or losses even if they really needed to stop. I guess we really have different environments that influenced us as we grow.
~snip~
This kind of feeling should be eliminated because it will affect your future decision. When you put emotion in gambling, you'll never be consistent in the long run as eventually you will lose your focus.
Believe me, I've been there.
I believe you because I've been there too. The feeling of excitement in the match will always be there, no matter we realize it or not. But we need to manage our emotions and don't let it ruin the excitement. When we gamble with our friends, losing or winning will not be a problem because after the match ends, we can have fun with other things. Sometimes, after the match, we go to a cafe, and the winner buys a lot of drinks and food to celebrate his winning. I miss that moment when we gather in one place after watching the match.
Well, that would be different if you are really rooting for a team or a player. I can't just put my bet to another team since they are the real reason I am actually doing that bet. It is true that I let my emotion run but I don't think I will bet if it is another two teams playing and I don't actually support them.
I'm sometimes affected too at this betting with emotions especially if my favorite team is involved.
I will just go with the flow, bet on my favorite team because I want it disregarding how dominant their opponent is.
Generally, it's not that they always losing so still worth putting up a bet. I'm not that blind to just bet on my favorite team even they are weak if I see they don't have the ability to turn the table against a much stronger team.
In my case, that team I usually support is that kind of team that is worthy to say that they are a safe pick in betting like for example I am betting on the Milwaukee Bucks in the regular season but then I lost a lot when they went to Orlando for the playoffs. Well, to be honest, I kind of regretting that I bet on them all the way but still, that didn't change my perspective on their team as one of the best this season.
Every gamblers must have a way to manage bankroll well, which is a matter of how effective we are in managing bankroll.
Especially when we experience losses, of course there is a strong desire to pursue these losses and this can change the rules
we have made. The more experienced people in the world of gambling, they should be able to find a good formula for managing
a bankroll. Because one of the keys to success in gambling is how we manage the bankroll we have.
Especially when we experience losses, of course there is a strong desire to pursue these losses and this can change the rules
we have made. The more experienced people in the world of gambling, they should be able to find a good formula for managing
a bankroll. Because one of the keys to success in gambling is how we manage the bankroll we have.
I think every gambler knew this deep inside, the problem it's very hard for them to always follow it, we keep saying to ourselves to not chase losses but in the end we decided to double our bets because we feel it, or some just wanted to, that's gambling is, and that's why it's hard to control too. I don't have any problem following this, but I don't have any problem breaking it too, as long as I can afford to lose my budget for the gambling session. Being calm will be easy if you can accept losses actually.
I agree with you. Don't chase your losses, is a rule for people who gamble to (try to) make money. But most of gamblers don't gamble to earn money, they gamble because they just like gambling. They even like to lose indeed, because gambling is not anymore gambling when you never lose. 
In my opinion the bankroll should determine how much we betting each time. With a smaller bankroll we should also bet lower for a few games atleast until we recovered our losses.
Keeping in mind your previous loss will just make your strategy ineffective. Don't pressure yourself to recover those losses but instead, focus on the current ones. It's hard to bet when on your mind, you have a target of chasing your losses. You will not be comfortable with your future bets since you will think that what if you lose and how to recover it.
Stay calm and give your best shot at every bet without worrying you will lose.
It was exciting to feel that moment, but if we lose, only regret that we will felt.
This kind of feeling should be eliminated because it will affect your future decision.
When you put emotion in gambling, you'll never be consistent in the long run as eventually you will lose your focus.
Believe me, I've been there.
Agree to that, If you let your emotions then you'll keep trying to recover.
Or, that regrets will keep you holding back, it will affects your decision making from time to time. You have to let it go and forget about it if you really wanted to move forward. There are many games to come and keep assessing each sports that you wanted to bet along, do further research and keep focusing with your bankroll to lessen your chances of busting your money.
Easy to say but would really be hard to be followed on someones gambling activity yet human beings are too emotional but due to experience you would really able to control that and that matters on how
strong your discipline is.
We should really need to move on and dont look back into those loses and proceed on betting to those lines on where you do know that you do have the edge to win.
Good money or bankroll management would always have the benefits not to make yourself getting burned too fast.
Dont let your emotion control you or else you would really be having a problem not only on gambling means but even on basic or daily living decisions.
The question is how long can you survive to not tempted to gamble it all away?
I mean you maybe have 100 units and managed to make it 110 in the next week but time after time you look at your bankroll and it is a little bit different as the units dropped to 90 , the next week get another drop to 70 and at this point you will involving your anger to try staking a little bigger and at the end of the day you are busting everything.
This is the reality that most of us experienced. Dont we?
I mean you maybe have 100 units and managed to make it 110 in the next week but time after time you look at your bankroll and it is a little bit different as the units dropped to 90 , the next week get another drop to 70 and at this point you will involving your anger to try staking a little bigger and at the end of the day you are busting everything.
This is the reality that most of us experienced. Dont we?
You have to understand that it could happen, if you have 100 units and you are down like 30 units, you should still continue to do what you are doing as it doesn't mean you can't recover and you'll decide to double your bet so you can easily come bank.
Bankroll management means discipline and you follow the amount per stake you need to, if you can do that consistently, for sure you already pass one of the most important steps to be a successful gambler.
That is exactly the issue in my opinion. A bankroll management needs to be reactive towards our losses but we can't always say if our strategy is wrong. If we are down 30% of our bankroll in just a few days, it doesn't mean our strategy is wrong, but it could be the case. So I would want my bankroll management to kick in and force me to lower my bets.
In my opinion the bankroll should determine how much we betting each time. With a smaller bankroll we should also bet lower for a few games atleast until we recovered our losses. If we keep following the old bets we could go broke very fast. It would be best to always bet in relation to our total bankroll.
It was exciting to feel that moment, but if we lose, only regret that we will felt.
This kind of feeling should be eliminated because it will affect your future decision.
When you put emotion in gambling, you'll never be consistent in the long run as eventually you will lose your focus.
Believe me, I've been there.
Agree to that, If you let your emotions then you'll keep trying to recover.
Or, that regrets will keep you holding back, it will affects your decision making from time to time. You have to let it go and forget about it if you really wanted to move forward. There are many games to come and keep assessing each sports that you wanted to bet along, do further research and keep focusing with your bankroll to lessen your chances of busting your money.
To learn how to properly manage a bankroll you need to do a huge amount of work on yourself and change the usual thinking that is built in the interaction with objects that cause positive and negative emotions...
The human body when receiving negative emotions defines a loss as a bad experience and tries to protect you from failures, including the central nervous system. Only by accepting that the loss is a quite normal outcome of the game a person becomes independent of his emotions and can properly manage the bankroll.
Not everyone can do it. Someone can never defeat the protective reflexes of their body.
The human body when receiving negative emotions defines a loss as a bad experience and tries to protect you from failures, including the central nervous system. Only by accepting that the loss is a quite normal outcome of the game a person becomes independent of his emotions and can properly manage the bankroll.
Not everyone can do it. Someone can never defeat the protective reflexes of their body.
The question is how long can you survive to not tempted to gamble it all away?
I mean you maybe have 100 units and managed to make it 110 in the next week but time after time you look at your bankroll and it is a little bit different as the units dropped to 90 , the next week get another drop to 70 and at this point you will involving your anger to try staking a little bigger and at the end of the day you are busting everything.
This is the reality that most of us experienced. Dont we?
I mean you maybe have 100 units and managed to make it 110 in the next week but time after time you look at your bankroll and it is a little bit different as the units dropped to 90 , the next week get another drop to 70 and at this point you will involving your anger to try staking a little bigger and at the end of the day you are busting everything.
This is the reality that most of us experienced. Dont we?
You have to understand that it could happen, if you have 100 units and you are down like 30 units, you should still continue to do what you are doing as it doesn't mean you can't recover and you'll decide to double your bet so you can easily come bank.
Bankroll management means discipline and you follow the amount per stake you need to, if you can do that consistently, for sure you already pass one of the most important steps to be a successful gambler.
It was exciting to feel that moment, but if we lose, only regret that we will felt.
This kind of feeling should be eliminated because it will affect your future decision.
When you put emotion in gambling, you'll never be consistent in the long run as eventually you will lose your focus.
Believe me, I've been there.
I do support a team but I don't just let my emotion run free.
It is true that you are supporting a team but that doesn't mean that you can risk your money with them without doing any analysis or anything that could increase your chances of winning. We are talking about your money here, so you don't need to always just go with that team always, you need to use your head first before your heart as they said it.
That's good to hear, your emotion is the one killing our plan, every gambler who knows how to analyze games makes his own analysis before putting his bet, he only got some trouble if he got caught up with his emotion while in the middle of the session. Maybe we can start trying on our own experiment, what we do is to gamble consistently and learn how and when to stop when we are in winning or losing situation.
This is one of the major topics that is never covered here (or maybe I haven't seen any such threads related to this).
Deciding Units
I have seen many people getting confused about units and how to set it. Well, I've got a simple formulae here - just divide your bankroll by 100 and you'll get your 1 unit cost. Means, if you have $100, you should bet no more than $1 per bet doesn't matter you win or lose. This will give you 100 bets in total with 100 units available to play with.
Never chase your losses
Only asses chase losses! Haha, jk. But still, there's no need for you to go and double your bet every single time just to chase your total loss and get into profits. Trust me, if you eventually turn your gambling habits from being greedy to becoming a smart gambler, you will be in much better profits than just gambling it all away at once and chasing could be really dangerous for your bankroll's health.
Calm mindset
There is no need to feel bad for your loss, even if you lose 1 unit, you still have 99 left, so 2 more wins and you are in profit. Don't go all in on one bet, instead place your bets in parts. Opportunities are available every single day in sports betting, but don't bet like a gambler, bet as a sports investor and apply the rule of "1 bet 1 unit" and I assure you that you'll become a much better gambler one day.
Have an edge over yourself
It's not funny to gamble tbh, some people do it for fun but where's smartness in losing your money? Will you be called smart? No, right? It's better to only use and invest your bankroll in those games over which you have an edge. If you are sure about the game you are betting, then only use your 1 unit on that game, otherwise no need to gamble based on half (or 0) knowledge because we are talking about smart gambling and managing our bankroll. This assures that you have higher chances of winning over losing, and this edge will only help you gaining much more profits in the long run. If you don't know about a game, or yours is a few days ahead, just don't gamble and wait some days and let your expected game arrive.
Nice one you really explained most of the general rules for betting but you have not really touched the point that got my attention to this thread which is backroll I understood it perfectly but most beginners in gambling such as the newbies will need a deep explanation of the meaning of back roll before going further to how to place betting and managing your winning and losses. Deciding Units
I have seen many people getting confused about units and how to set it. Well, I've got a simple formulae here - just divide your bankroll by 100 and you'll get your 1 unit cost. Means, if you have $100, you should bet no more than $1 per bet doesn't matter you win or lose. This will give you 100 bets in total with 100 units available to play with.
Never chase your losses
Only asses chase losses! Haha, jk. But still, there's no need for you to go and double your bet every single time just to chase your total loss and get into profits. Trust me, if you eventually turn your gambling habits from being greedy to becoming a smart gambler, you will be in much better profits than just gambling it all away at once and chasing could be really dangerous for your bankroll's health.
Calm mindset
There is no need to feel bad for your loss, even if you lose 1 unit, you still have 99 left, so 2 more wins and you are in profit. Don't go all in on one bet, instead place your bets in parts. Opportunities are available every single day in sports betting, but don't bet like a gambler, bet as a sports investor and apply the rule of "1 bet 1 unit" and I assure you that you'll become a much better gambler one day.
Have an edge over yourself
It's not funny to gamble tbh, some people do it for fun but where's smartness in losing your money? Will you be called smart? No, right? It's better to only use and invest your bankroll in those games over which you have an edge. If you are sure about the game you are betting, then only use your 1 unit on that game, otherwise no need to gamble based on half (or 0) knowledge because we are talking about smart gambling and managing our bankroll. This assures that you have higher chances of winning over losing, and this edge will only help you gaining much more profits in the long run. If you don't know about a game, or yours is a few days ahead, just don't gamble and wait some days and let your expected game arrive.
The question is how long can you survive to not tempted to gamble it all away?
I mean you maybe have 100 units and managed to make it 110 in the next week but time after time you look at your bankroll and it is a little bit different as the units dropped to 90 , the next week get another drop to 70 and at this point you will involving your anger to try staking a little bigger and at the end of the day you are busting everything.
This is the reality that most of us experienced. Dont we?
I mean you maybe have 100 units and managed to make it 110 in the next week but time after time you look at your bankroll and it is a little bit different as the units dropped to 90 , the next week get another drop to 70 and at this point you will involving your anger to try staking a little bigger and at the end of the day you are busting everything.
This is the reality that most of us experienced. Dont we?
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