If you want to become a serious sports bettor, then you have to learn how to manage your bankroll. A great way to do this is by wagering the same amount of money on every bet you place. This allows you to focus solely on finding the best value bets on a given day. It is generally recommended that you bet one to two percent of your bankroll on each wager, but this amount may need to change over time. These are the four times when you should starting adjusting your sports bets.
Extended Winning Streak
The goal of every sports bettor is to make a lot of money during their career. If you are winning a significant portion of your bets, it is probably time to increase your wagers’ size. This is not done because you are on a hot streak. It is done because your wagers are likely insignificant compared to the overall size of your bankroll.
Getting Low On Money
There will come a time during your sports betting career when you hit a dry spell. If this cold streak has taken a significant chunk out of your bankroll, then it is time to reduce the amount of money you are wagering. You may be used to betting $100 on every wager, but that does not make much sense if your bankroll is down to only $1,000.
Low Potential Earnings
Your potential earnings on a bet are determined by the odds placed by the sportsbook. Betting on the favorite is going to yield less money than picking an upset victory. Some teams are so heavily favored that you will only earn a fraction of the amount you typically win on other bets. You can make a bet worth your time by slightly bumping up your wager.
Limited Research Time
There will likely come a time when you are too busy to do the proper amount of research needed to make an informed bet. If you still want to place a wager during a hectic time in your life, then you need to reduce your bet. This allows you to still have some action in the game, but it will not hurt that bad if you lose.