Most sports bettors simply place bets using the money in their pocket.
When they win the money goes back in their pocket and when they lose they simply replace the money from their job or other income source when they want to place the next bet.
Some set aside a set budget and make bets from it and add their winnings to it so it goes up and down through the season or year.
Almost all long term winning sports bettors have a budget and take part of their profit from the budget from time to time as they win and their bankroll grows.
Of course all of these methods are fine and you can handle your bets and bankroll however you see fit.
As you continue reading you’re going to learn about a new method for handling your sports betting bankroll. After you learn everything about it, consider giving it a try for a year or six months. You might find it strikes the perfect medium for your needs.
Who This System is Designed For
This system of bankroll management is designed for people who enjoy betting on sports but haven’t reached the point where they consistently win. This means that it’s for 95% or more of sports bettors.
While a few people are able to beat the sports books over the long term, most of us are lucky to break even or come close.
One of the important things to understand is if you consistently operate with a negative expectation, in any situation, your bankroll will never be big enough.
But that doesn’t mean you should ever stop trying to improve or give up.
This system is also designed for sports bettors who have a difficult time managing their bankroll. The bettor who simply makes bets out of their pocket instead of a bankroll usually doesn’t really know how well they do over time.
They know when they have a good day or week or bad day or week but overall they just go with the flow. As I mentioned above, there’s nothing wrong with this, but if you use a system like this it helps you control your losses, helps you track your results, and helps put profit in your pocket when you have a good streak.
The Weekly Stake
The first step is to set a weekly sports betting amount.
This amount should be small enough that you can easily provide it every week without stress, and an amount you’re comfortable betting every week.
One of the best things about this system is you don’t have to come up with a big bankroll up front and you don’t have to worry about what percentage of your bankroll you should bet. The idea is to bet the entire amount each week.
The amount I suggested in the title, $100 a week, is simply a starting point to get your mind working with the system. You can decide to do $10 a week, $50, $500, or more. The amount doesn’t matter, as long as you can provide the bankroll every week.
You should also not count on using any money from the previous week or weeks. I cover more about this in the section below about handling profits and losses, but for now pick a weekly amount that works for you.
By using a $100 a week bankroll it’s the same as having a $5,200 bankroll for the year. Here’s a breakdown of what different weekly amounts equal on a yearly basis.
$10 a week is $520 a year.
$20 a week is $1,040 a year.
$50 a week is $2,600 a year.
$200 a week is $10,400 a year.
$500 a week is $26,000 a year.
Of course many bettors only bet on one sport. If you just want to bet on the NFL simply commit to the system for the NFL season. Or if you like the NBA or MLB simply do it for the length of your season.
What many bettors find is if they get to a point where they can get decent results in one team sport they can often use the same types of thought process and analysis in other team sports to replicate the results.
Team sports are unpredictable, especially when you factor in the spread or money line differences. It can be easy to pick winners heads up many times, but that doesn’t mean you can do it enough to beat the vig.
But this banking system helps protect you from this and locks in a certain amount of return over the course of the season or year.
Once you decide on your weekly sports betting amount you’re going to find enough contests each week to bet the entire amount. One of the important steps in this system is you have to accept in your mind that your entire weekly bankroll may be gone every week.
This is ok because you know that no matter what you’re going to start the next week with the same sized bankroll so you don’t have to worry about a good or bad week.
You can bet all of your weekly bankroll on a single contest or divide it up over many different contests.
During Super Bowl week you might want to bet your entire weekly bankroll on the big game. But during baseball season you might want to bet on 10 different games during the week.
Many so called sports betting experts recommend only betting when you have an edge. While this is good advice, if you’re good enough to have a consistent edge you don’t need this system. It can still work for you, but remember this is for the rest of us. It’s for the people who like to bet but haven’t mastered a winning system yet.
So if you have a $100 weekly bankroll you can bet:
- One contest at $100
- Two contests at $50 each
- Three contests at $33 each
- Four contests at $25 each
- Five contests at $20 each
- 10 contests at $10 each
- 20 contests at $5 each
You can bet on a different number of contests every week or the same number. The number of contests doesn’t matter, just the total dollar value of your bets.
The types of wagers don’t matter either. Maybe you like placing spread bets or money line wagers. Or maybe you enjoy taking your chances on prop bets or always backing the favorite or the underdog.
Tracking Your Results
The next step is to track all of your results. This can be as detailed as you want, but at a minimum you need to keep track of the total amount you bet each week and the total amount you win from your bets.
The easiest way is to get a notebook and list the weeks for the year or season down the left hand side and put the weekly bankroll amount to the right of each week. Then at the end of each week put the amount of money you win to the right of the weekly bankroll.
When you finish the week see how much money you have left. Remember on winning bets you get your original wager back in addition to what you win. So one week may go something like this.
You place nine bets of $11 to win $10 on the spread. You win four games and lose five. At the end of the week you have $85. The five games you lose your entire $11 bet is gone. But on the four games you win you get your $11 back plus the $10 win. Add the $84 to the $1 you didn’t bet for a total of $85. So to the right of your weekly $100 figure you write down $85.
I like to use a more in depth system for tracking results. You can use a notebook to do this or a stack of index cards. I use index cards and a box made to hold them, but either tracking method is fine.
Get a stack of index cards with one for each week of your season or year. I get 52 and put the week at the top left and the total amount of my weekly bankroll in the top right. Then I list all the bets I make during the week, one per line, including the amount wagered, the spread or money line numbers, who I bet on, and then when the result is in I write it down to the right.
This way I have a record of each week and each game. The ability to go back through these helps develop a better system as the season or year progresses.
I also write down notes for the week on the back of the card.
Here’s an example:
During the baseball season an east coast team was in the middle of a west coast road trip and was facing the Dodgers and Kershaw was starting for the Dodgers. The east coast team was struggling and had a rookie pitcher starting. The money line reflected this but I still thought the Dodgers would win the game enough to make a bet profitable in the long run.
This is the note I made on the back of the card.
Kershaw at home against weak road team with rookie pitcher. ML value.
The ML is short for money line. I also put a star beside the bet on the front of the card to tell me it has a note on the back.
When I look back at the card later in the season I can see the result from the front of the card and can see exactly why I made the bet from the note on the back.
At the end of each week I put the total amount I won on the bottom right of the card.
If you want to use a notebook you can use the same type of system and have room for your notes below the lines listing your wagers.
Simply tracking your results this way can be a tremendous help in the future. As you go back over earlier results you can see how you did and start to pick up on your betting tendencies.
Once you start seeing your tendencies you can make adjustments going forward to improve your results.
In the next section I go over how to handle your wins and losses on a week to week basis.
Handling Profits and Losses
The best part of this system beyond forcing you to track your results is how you handle the profits and losses.
You simply put any money you have left each week in your pocket. While this may not be profit every week, it still feels good because the money was already spent when you placed the bets.
When you have a bad week you still put anything you have in your pocket and start the next week fresh. You basically ignore the loss for the same reason mentioned in the last paragraph; the money is already spent.
Even if you lose everything in a week you still start with your normal weekly bankroll the next week.
This method makes it somewhat more psychologically pleasing to bet on more games because the fewer games you bet on the higher the chance you lose your entire weekly stake. But if you bet on one game and win you have a nice week.
Another option is to put the money you win in a separate account and use it to have a larger weekly betting amount next year or next season. Since the weekly money is already budgeted this is an easy way to build your bankroll without being forced to invest more on a weekly basis.
Here’s an example:
You use $100 a week for a year and at the end of the year you have $4,000 from your winnings. The next year you plan to continue using $100 a week from your normal income and the extra $4,000 from the first year.
You divide $4,000 by 52 weeks and get a little over $76. Now you put that with your regular $100 a week and use $176 per week for the second year.
By using this method you’re building a large bankroll while learning how to be a better sports bettor. Of course you’re funding the bankroll but by doing it this way you’re working with a set and comfortable amount each week and improving at the same time. In just a few years you’re able to bet much more per week without being forced to worry about where the money is coming from.
If you maintain the same return in the second year as you had in the first you’ll have roughly $7,050 at the end of the second year. This is an extra $135 a week so in the third year you’re betting $235 a week.
Following the same percentages you’ll be betting $281 a week the next year and $316 a week the following year.
These numbers go even higher if you can improve your winning percentages.
Another option is to keep all of your returns in a separate account and use it for a vacation at the end of the year or for a down payment on a car or something else you need. You can view it as a type of savings account that lets you build it and enjoy betting on sports throughout the year.
Now that you know how to use the system, try your luck with using a weekly sports betting budget. If you simply follow the system and use the tracking system included above you’ll create another powerful tool to help you become a winning sports bettor. And you won’t have to worry about your bankroll while you’re doing it.