Betting money and making a profit: these factors play a major role when betting on football. Anyone who occasionally takes a gamble does not need to devise a complete strategy. But if you are serious about betting, you need to manage your money wisely. This even helps you to keep making a profit in the long run. In the gambling world, this money management is called “bankroll management”.
The term Bankroll is mainly known in the gambling world for online casinos like RTP Live Slot Pragmatic. A bankroll in online poker stands for the total number of chips/fishes you own as a player. But this term is not only used in poker, it is also regularly discussed in betting on football. While discussing football betting, the “bankroll” is also regularly discussed. But what does a football betting bankroll actually mean?
What is meant by the term bankroll?
When talking about a bankroll when betting on football, this is a definition that stands for the amount of money that a player makes available in total for betting. A player’s bankroll, therefore, represents the entire amount of money that a player has as a potential amount of money to play with. The definition, therefore, applies (in the case of football betting) purely to the amount that is made available to possibly bet on a bet. In principle, other private funds and income are completely separate from this.
Bankroll management means – the proper and insightful handling and use of your bankroll. Properly managing your bankroll will prevent you from going broke in no time. In bankroll management, many gamblers often choose to bet only a small part of the total amount on a bet. Structural betting based on your bankroll is extremely suitable for a betting strategy such as the pie model. The pie model is a betting method where you only bet a percentage of the (entire) bankroll on a football bet.
In this way, a player always has good insight into his winnings and losses. By consistently betting with (small) percentages on a bet, you prevent as a player from losing large amounts of money in one go unnoticed. An overview of your total bankroll provides a lot more insight, whereby your amount of money does not shrink in its entirety over time. Which can have you bankrupt in no time. The combination of an insightful bankroll, with the correct application of bankroll management, provides more insight and structure when betting on football. For example, you can choose to bet only 10% of your total available money on a bet.
Determine your bet
As the definition of Bankroll can be explained above, this is briefly the total amount of money that you have available to gamble with. It does not matter whether you want to play with a maximum of €25 or €250. Based on this bankroll, you can determine how much you bet per bet. Because what is sensible? If you like to play a lot of bets, you can choose to bet a low amount on each bet. But of course, a little bet will also give you little profit.
And that’s a shame if you win a lot of bets. If you bet a large amount in one go, you run the risk that you will lose your bankroll within a short time. That’s just not the intention. Smart bankroll management helps you to divide your money as best as possible over the different bets.
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Bankroll management: betting with a fixed percentage
Bankroll management is all about percentages. In addition to the bankroll, you also determine in advance how high the maximum percentage with which you will play. Most players assume 5 or 10%. Suppose you have a bankroll of €250 and you keep a maximum percentage of 10% (in this case €25) per bet. With this bankroll, you can play at least 10 bets before you run out of your available money. So it’s a sensible distribution.
If you lose all these bets in a row, you lose the entire bankroll. In other words, you are ‘broke’. But if you have a little knowledge of the current leagues and championships, the chances of losing all these bets in a row are of course not very high. If you play with the so-called ‘stakes’ or ‘units’, you further reduce the chance that you will go broke.
How do you use stakes?
When you start betting on football matches you will naturally come across the term ‘stakes’ or ‘units’. These are important terms for anyone involved in bankroll management. An example immediately makes clear what is meant by these stakes or units. The percentage of your bankroll that you can play as maximum bet is equal to 10 stakes. With our bankroll of €250, those 10 stakes maximum bet equals €25. So a single stake is worth €2.50. Are you betting on a match between Ajax and SC Heerenveen and are you sure that Ajax will go home with a win?
In that case, of course, you bet your maximum bet. If you are not completely convinced of the final result, it is better to be a bit more careful with your money. A bet of 6 stakes (i.e. 6 x 2.50 = €15) is much more sensible. By smartly managing your money in this way, you reduce the chance of going broke. And perhaps more importantly, in the long run, you can steadily increase your profits.
Even more smart strategies
Bankroll Management is a good strategy to distribute your money wisely. But there are more models that you can rely on when you start betting money. For example, the pie model and the Return on Investment (ROI) principle are well-known strategies among gamblers. The pie model is very similar to bankroll management. The amount you are going to play with is divided into 10 equal pieces in the pie model. With each bet, you bet one or more pie pieces.
Exactly how many there are depends on the chance of winning. Just like with bankroll management, with the pie model you make an estimate of your chances before you divide the money. The Return on Investment principle is a handy way to calculate how big the win percentage has been on past bets. You can see at a glance whether you are on the right track.