Every single sports betting or gambling website or book tells you to monitor your bankroll. Some of the good ones even tell you how to do it. Bankroll management is less like rocket science and more like vacuuming. If you’re an irresponsible 20 or 30 something year old, you’re probably not going to do it. Even on nights you think you might get laid, you don’t vacuum because you don’t own one to begin with.
So I’m gifting you the vacuum cleaner of sports betting – a free and idiot proof bankroll management sheet. No strings attached, you don’t even need to put down your email or share our website even though we would appreciate that.
Three words for you: Fucking do it.
It is by far the best tool you can have to win.
Unless your name is Cristiano Ronaldo, there’s a 10% chance he or she is going to leave without fucking because your house is a mess. And we all know you can’t be taking 10% chances when you only have 2-3 opportunities a year.
Same thing with sports betting – it’s a game of inches. Bankroll management will help you get 10% better, and that could mean the difference between making money and losing money.
OK I think I’ve made my point about why you should do it, so let’s get into the specifics. Spend 5 minutes reading the rest of this boring article and that’ll be all the studying you’re going to need for now. Most of what you’re about to read is going to be automated in the spreadsheet for you, but it’s better to understand what you’re doing rather than blindly inputting numbers like a monkey.
First, decide how much you’re willing to lose by acknowledging that sports betting is a hobby, not a get rich quick scheme. So figure out how much you spend on your other hobbies. I personally like Jiu Jitsu. Classes are $150/month, Gi costs $200, upgraded my health insurance by $15/month, $30/month on gas. Comes out to about $2,500/year. So that’s the MAX amount I would consider for my bank roll over the course of a year. I personally settled on $2,000. If you’re Jeff Bezos reading this, your hobby is making rockets for Billions of dollars. So his bankroll could be a bit bigger.
Then you take 1% of that number, and bam that’s how much each bet should be. So for my $2,000 bankroll, each bet is $20. That way you can safely place 100 bets this year, even if you lose every single one of them.
“But Usaama, I won’t make that much money if I only bet $20 each time ”
Don’t worry I got you. The Excel sheet has it so that your betting amount is ALWAYS 1% of your total bankroll. So if your bankroll is up to $3,000 because you won a lot, now each bet is going to be $30. So the more you win, the more you can win. And the more you lose the less you lose because each bet is going to be smaller.
All you have to do is download this free Excel sheet, make it habit to put in your bets, and you’re good to go.
Send us a copy of your minimum 3 months record (winning or losing – be honest), and we’ll feature you in an article.