Bankroll Managment & Staking Plan
Bankroll management should be the most important aspect of your game, its vital to get this right in order to remain in profit, some of you may or may not know but although it may seem as though you’re in profit, in reality the only ones winning are the bookies. this doesn’t apply to everyone, but if you could check how much you’ve won/lost alot of people would be surprised, all those £5/£10/£15 you feed into your account each and everyday thinking nothing much of it, because who cares right, last week you won £200 from an accumulator? NO this isn’t how is should be. Gambling isn’t a SPRINT its a MARATHON and in order to maintain any sort of bank roll management you shouldn’t be constantly depositing small amounts, i strongly suggest to people they work out how much of their income is disposable for gambling, almost like a set amount, so lets say your new to gambling, and you want to get started, what do you do? what i would advise is after everything you need to pay is paid, you think realistically how much you can afford to use/gamble, now for some people this will be £50, some people this could be £200 it doesn’t matter as long as you have the right staking plan and have good knowledge of bankroll management.
So you’re just starting out, what do you do?
As i mentioned in the above paragraph you workout how much of your income is disposable, (how much you can set aside for gambling) So lets say you have £200 set aside, now realistically you need a goal that you would like to achieve as well for that month, so lets say you’d like to double that so your aiming to end up with £400 at the end of the month, which in my opinion again is realistic, you cant expect to come into gambling, make a quick buck and become a millionaire that’s not how this game works. its not a get rich quick scheme.
So now you have your starting bank roll of £200 hypothetically speaking, and its your first proper day of gambling, what do you do? do you place loads of accumulators and hope for the best, do you start doing roller challenges in a hope to turn £25 into £100? the answer is NO. the answer is you dont actually place any bets, you may have your starting bank roll, but whats the point in placing bets without a proper staking plan?
So therefore i suggest you workout a staking plan comfortable for you, now weather that means Units which i personally use, or just working out what a low/med/high stake is for you. Units would probably be best as theyre easy to work with, but this is whatever suits you. get yourself an excel sheet and track every single bet you place so you always have it on record and can see if you’re in profit or a loss.
Units is something that “Professional Gamblers” use, 1 unit works a 1% of your bank roll. I personally suggest never using over more than 5% of your bank roll on one bet no matter what your confidence is, the average that should be placed on a single bet is 2/3% which is a nice healthy amount, the reason alot of people use units is because when you hit a rough patch and a losing streak you can easily adjust the % your using on your bets, which i would refer to a responsible gambling, and believe me it doesn’t matter how good you are, there will come a time where that rough patch hits you unless your a psychic.
When should you change your unit size?
So what i would suggest is you adjust your unit amount often, maybe once at the end of each week, not after every single bet, It really depends how often your placing bets, if your doing well, what sort of bets you are placing and so much more so its hard to answer that to each persons specifics but I would say once at the end of each week is often enough, any profit/loss should be gradual so you’ll be able to reevaluate your unit size as you go based on if you are doing well, what kind of run your on etc.
depending on my form I tend to adjust my unit size at the end of every week based on the current shape of my bank roll, the good thing is following a staking plan your unit size shouldn’t significantly increase/decrease to a stupid size very quickly, if you are staking correctly it should be more of a gradual gain/loss so you can chose to adjust it accordingly.
If im not having much luck and hit a rough patch I will look to adjust it slightly more often, but more often than not when things don’t go my way I just call it a day & go back to it tomorrow, which is where responsible gambling comes in which is a vital part of a staking plan / bankroll management because sometimes the stats don’t matter, bad runs are inevitable.
Next Steps…What Do I Look For/Avoid?
This is where discipline comes in, you should only bet on things that you have a lot of knowledge in or have researched, you dont really want to be betting on a team from Algeria when the only player you recognise from the country is Mahrez and cant name one of the starting 11, stick to what you know, don’t go placing bets based on inplay stats and team names you can’t pronounce.
Now my next point is very important and ive seen ALOT of people do it and i cant understand why, CHASING LOSSES and COVERING BETS! these are both things you should NEVER do! its throwing money away for nothing, and chasing losses shows your judgment is already clouded, if your bet is losing, consider it lost and move on, dont attempt to cover it or chase the loss by placing another bet, just relax yourself and let it go.
Another thing that grinds my gears is people saying “certs” / “lumping” earlier on this week i saw a tipster suggest a “LUMP” bet on game where the team had already qualified, now a few things stuck out to me, 1. he was clearly heavily affiliated on a commission based deal 2. he was a dodge guy, he deleted his tweets soon after it lost, i cant help but think about all those people who chucked their whole betting bank on it thinking it was a sure winner.
Lumping isnt the way to result in profit, you may get lucky from it a few times, and dont get me wrong 1. im guilty of lumping myself, but thats because ive managed to make enough from gambling to afford to, and 2. because i would never ever advise a lump. its unprofessional, ive only every “lumped” twice, one was a winner and one lost, both researched extensively, so it just goes to show sometimes no matter how much you research lumping isnt the method to use in order to stay in long-term profit, and nothing is a “cert”.
I have never and will NEVER advise my punters to lump and thats a promise.
The Emotional Side Of Gambling
Ive personally come across some people who seek a thrill, so they’re chucking hundreds if not thousands on a game, just for that adrenaline rush, this isn’t a good thing and may be a sign you need to stop, gambling should be fun & responsible but you need to know your limits, if you feel like at any point you are struggling with gambling, please seek help.