In sports betting, one of the attributes that must be developed and maintained by punters (recreational and professional) is proper money management techniques. Its importance cannot be over-emphasized because betting without limitation is capable of making an individual bankrupt.
To achieve the aforementioned, the bankroll was introduced as a betting strategy. A bankroll is the total amount of money set aside by a punter for the sole purpose of placing a stake for a specific period of time. It is a betting strategy designed to make sure that punters maximize their winning opportunities.
To enjoy the dividend of this betting strategy, your first step will be to agree on the amount of money you intend to set aside for betting. Remember, the bankroll must be an amount of money you can afford to lose.Choosing a betting percentage
The core of this type of betting strategy is that punters must agree on a percentage of their bankroll which they must adhere to at all times when placing stakes. For punters, with an average or relatively large bankroll, 2 or 1% should be set respectively. For instance, punters with ZAR3,000 as a bankroll, using 2% means that they cannot bet on ZAR60 per game/bet slip. However, punters with ZAR100,000 or more are advised to set theirs at 1% since they have a rather large bankroll.
You can decide to maintain a fixed rate (2% of your original bankroll) regardless of the match outcome or have a flexible rate (2percent of what is available in your bankroll). The implication of the latter is that the amount used in betting will flow with your winning records. Therefore, the more you win, the bigger your stake becomes and vice-versa.The benefits of maintaining a betting percentage
Below are some of the reasons why you should maintain 1 or 2% of your bankroll as your stake for every game:● Financial Discipline
All financially successful people around the world have one thing in common; financial discipline. Maintaining a fixed betting rate allows you to resist the urge to bet without caution which almost always leads to financial loss.● Saves you from Bankrupt
Setting a certain amount of money aside for betting automatically restricts you from using unallocated money. As a result, you won’t be placing a bet with money that is meant for your personal upkeep.● Reminds you that betting is a recreational activity
By setting aside a particular percentage, it reminds us of the main purpose of betting in the very first place. Therefore, the outcome of any match/bet slip is taken as such.
While no betting single strategy can give you 100% accuracy all the time due to the unpredictable nature of gambling itself, a combination of the right betting strategies can assure you of a better winning rate. Find out more about the 1 to 2 of your bankroll betting tips.Conclusion
Another point to take from this betting strategy is the fact that it is one of the few strategies that has been able to minimize our net expenditure by instilling in us, a good financial management plan which can barely make us bankrupt or compulsive should we follow it strictly.