Everybody would love to have a big bankroll, but most sports bettors can not afford it. Or at least have the good sense not to risk the rent money on a sports bet.
One of the most asked questions I get is "How do I build up my bankroll so I can place bigger bets?". In my continuing efforts to help you take more money from the books, I will tell you what I have found to be the best and safest approach.
This method is complimentary to my betting strategies, and will not work well for the hardcore gambler who wants to place many bets every day. If you are one of those gamblers, you may want to focus on extending the life of your bankroll rather than trying to build it with long term profits because your method of playing is not conducive to making money at it.
The most asked question about bankrolls is how big should it be. I have a stock answer for that, and the amount is different for everyone. You should start your sports betting endeavors with no more than you can set on fire without changing your current situation or future prospects.
With that caveat, here is the best way to build your bankroll, while at the same time retaining a backup bankroll in the event of a catastrophic loss of the first one. In this example, I will start out with $200 for the total investment. If you need to start out with a smaller one, that is no problem, nor is it a problem if you want to start out a little larger. The math will be the same in percentages.
So now you have decided you want to be a professional sports bettor, or at least grow a decent bankroll to play with. You have decided that you can put up $200 in your new business (yes, you must look at it like a business).
The first thing you do is take $100 and commit that to wagering on games. Take the other $100 and put it in a safe place at home. Do not deposit all of it in an online book, and do not mix it with other money you need to live your life and pay bills.
The first $100 will be your playing bankroll, the second will be your backup bankroll. You will be betting in $10 units, so you are staring out with 10 units in the playing bankroll, and another 10 in the backup.
Because you are only placing one bet a day (if you are smart), you will risk no more or less than 10% of your starting bankroll on any given day. Your objective will be to increase the playing bankroll by 10 betting units. In effect, your goal each step of the way is to double the 10 units you start with.
Good fortune has befallen you, and you have doubled the initial $100 and now have $200 in your playing bankroll, or a $100 profit. Take that $100 and divide it between the two bankrolls, putting 50 in each.
After doing that, you will have a playing bankroll of $150, and a backup bankroll of the same still tucked safely away in your safe place at home. If you are playing at an online book, just have them send you a check for $50 and leave to $150 where it is.
With your new playing bankroll, you will begin playing in $15 units, or 10%. The goal once again is to get 10 units ahead.
Again, let's say that good fortune has befallen you and you achieve your goal again. This time, you will have $150 to split among the bankrolls, or $75 each. Add that to each of your bankrolls, which would leave you a $225 playing bank and a $225 backup.
Your new betting unit is still 10%, or this time around $22.50. You have doubled your playing bankroll twice, but the actual bankroll has grown by 125% over it's starting point, as has the backup still safely hiding in your safe place at home.
I think you get the picture, so let's carry it out a little so you can see how the bankroll grows over time, and with success.
On the third time going up 10 units, you will have 225 to split, or 112 for each bankroll, leaving 337 and a betting unit of 33.70.
On the fourth time going 10 units up, you will have 337 to split, or 168.50 to add to each bankroll leaving 505 in the playing bankroll, and the same in the backup still in your safe place at home.
Just continue on building this way until you reach your goal, whatever it may be. If you take $100 dollars and 10% units, you will be betting $50 units on a $500 bank after doubling it just 4 times. And you will also have a backup bankroll of 500% of the starting amount.
Time wise, that could take about a year at a 4 unit per month average profit, or less if you have a good year. It is very possible to double it in a good month, but definitely not every month If you churn a little, it could take longer.
Now, for the unaddressed question of what do you do if you bust a bankroll? It really depends on when you do it and how you want to proceed. For an example, let say you double your bankroll twice, but on the third try you bust it out. Your backup bankroll at that time would be $225, and it will need to be used to continue.
You have two choices. You can go all in with it and keep the 22.50 unit, and when you double it take the entire amount and replace the backup bankroll. Or you can split it back into two bankrolls and use an $11 unit to start over fully protected.
What you do is totally up to you. My suggestion is to keep playing with the bigger unit. But that is only a suggestion.
I rarely bust a bankroll with my betting strategy. I would have busted one in February of 2012, but I had not yet took the profits from a good January that left me over 12 units up. I hit a losing streak that would have busted a 10 unit bank had those profits been taken. I didn't bust it then because I actually had about 23 units still on the table. It took two months to recover and get back up to 23 units again, but I never had to employ my backup.
So there you have it. Many will say that 10% units is way too big. If you place a lot of bets, it is. If you follow my betting strategy it is perfect. It doubles quickly, with not as big a risk of busting as the hardcore gamblers would have you believe.
One of the most asked questions I get is "How do I build up my bankroll so I can place bigger bets?". In my continuing efforts to help you take more money from the books, I will tell you what I have found to be the best and safest approach.
This method is complimentary to my betting strategies, and will not work well for the hardcore gambler who wants to place many bets every day. If you are one of those gamblers, you may want to focus on extending the life of your bankroll rather than trying to build it with long term profits because your method of playing is not conducive to making money at it.
The most asked question about bankrolls is how big should it be. I have a stock answer for that, and the amount is different for everyone. You should start your sports betting endeavors with no more than you can set on fire without changing your current situation or future prospects.
With that caveat, here is the best way to build your bankroll, while at the same time retaining a backup bankroll in the event of a catastrophic loss of the first one. In this example, I will start out with $200 for the total investment. If you need to start out with a smaller one, that is no problem, nor is it a problem if you want to start out a little larger. The math will be the same in percentages.
So now you have decided you want to be a professional sports bettor, or at least grow a decent bankroll to play with. You have decided that you can put up $200 in your new business (yes, you must look at it like a business).
The first thing you do is take $100 and commit that to wagering on games. Take the other $100 and put it in a safe place at home. Do not deposit all of it in an online book, and do not mix it with other money you need to live your life and pay bills.
The first $100 will be your playing bankroll, the second will be your backup bankroll. You will be betting in $10 units, so you are staring out with 10 units in the playing bankroll, and another 10 in the backup.
Because you are only placing one bet a day (if you are smart), you will risk no more or less than 10% of your starting bankroll on any given day. Your objective will be to increase the playing bankroll by 10 betting units. In effect, your goal each step of the way is to double the 10 units you start with.
Good fortune has befallen you, and you have doubled the initial $100 and now have $200 in your playing bankroll, or a $100 profit. Take that $100 and divide it between the two bankrolls, putting 50 in each.
After doing that, you will have a playing bankroll of $150, and a backup bankroll of the same still tucked safely away in your safe place at home. If you are playing at an online book, just have them send you a check for $50 and leave to $150 where it is.
With your new playing bankroll, you will begin playing in $15 units, or 10%. The goal once again is to get 10 units ahead.
Again, let's say that good fortune has befallen you and you achieve your goal again. This time, you will have $150 to split among the bankrolls, or $75 each. Add that to each of your bankrolls, which would leave you a $225 playing bank and a $225 backup.
Your new betting unit is still 10%, or this time around $22.50. You have doubled your playing bankroll twice, but the actual bankroll has grown by 125% over it's starting point, as has the backup still safely hiding in your safe place at home.
I think you get the picture, so let's carry it out a little so you can see how the bankroll grows over time, and with success.
On the third time going up 10 units, you will have 225 to split, or 112 for each bankroll, leaving 337 and a betting unit of 33.70.
On the fourth time going 10 units up, you will have 337 to split, or 168.50 to add to each bankroll leaving 505 in the playing bankroll, and the same in the backup still in your safe place at home.
Just continue on building this way until you reach your goal, whatever it may be. If you take $100 dollars and 10% units, you will be betting $50 units on a $500 bank after doubling it just 4 times. And you will also have a backup bankroll of 500% of the starting amount.
Time wise, that could take about a year at a 4 unit per month average profit, or less if you have a good year. It is very possible to double it in a good month, but definitely not every month If you churn a little, it could take longer.
Now, for the unaddressed question of what do you do if you bust a bankroll? It really depends on when you do it and how you want to proceed. For an example, let say you double your bankroll twice, but on the third try you bust it out. Your backup bankroll at that time would be $225, and it will need to be used to continue.
You have two choices. You can go all in with it and keep the 22.50 unit, and when you double it take the entire amount and replace the backup bankroll. Or you can split it back into two bankrolls and use an $11 unit to start over fully protected.
What you do is totally up to you. My suggestion is to keep playing with the bigger unit. But that is only a suggestion.
I rarely bust a bankroll with my betting strategy. I would have busted one in February of 2012, but I had not yet took the profits from a good January that left me over 12 units up. I hit a losing streak that would have busted a 10 unit bank had those profits been taken. I didn't bust it then because I actually had about 23 units still on the table. It took two months to recover and get back up to 23 units again, but I never had to employ my backup.
So there you have it. Many will say that 10% units is way too big. If you place a lot of bets, it is. If you follow my betting strategy it is perfect. It doubles quickly, with not as big a risk of busting as the hardcore gamblers would have you believe.
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