Bankroll is the money you place separately only for gambling over a time frame. So to manage your bankroll is very important. To maintain the budget for your bankroll, here are some tips you should follow:
Know your requirements
How much money you can place on each bet?
How often you need to vary the size of the bet?
Do you really need to vary the bet size?
Do you need to hedge the bet?
Mainly to, keep your bankroll under budget, all these questions should be answered first. As per experts’ opinion, you should never wage more than 2% of the total bankroll on any bet.
Stay away from Betting Systems
Most of the betting systems are run by touts, who look for making some quick bucks on newbies. All of your wagers are independent of each other. So you should set a certain percentage of the bankroll as the maximum wager amount.
Know your motive to betting
Some of the games just look for fun, while some of them do this for their living. If you are doing this for fun, then you will not lose much money. e.g. If you bet for $100 on a Monday Night Football, then you will not lose $5 per week, even if you pick gets broken.
Use Sportsbook Tools
They help you to track the bankroll. These tools post the account balance on every website page with their user-friendly interfaces. So you can see and remain alerted to spend money on betting.
Use Flat Betting
This is nothing but placing almost same bet on every game. If you vary the betting size, you may turn the winning bet into loss.
Although bankroll management seems quite easy, but is very difficult to practice. But if you follow these simple rules , it will keep your bankroll under budget and you will enjoy the betting.