The Art of Winning: A Practical Guide to Sports Betting Bankroll Management and ROI

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I’ve always been a firm believer that just because you’re a good handicapper, doesn’t mean you’re guaranteed to be a winning sports bettor. There are a lot of other factors involved when it comes to staying in the black other than just picking winners.
One of those things is bankroll management, which is possibly the most important factor that sometimes doesn’t get enough attention. It’s taken me some time as a bettor to adhere to strict bankroll management strategies, but one that has helped me be a more profitable bettor.
No bettor is the same and these rules might not...

I’ve always been a firm believer that just because you’re a good handicapper, doesn’t mean you’re guaranteed to be a winning sports bettor. There are a lot of other factors involved when it comes to staying in the black other than just picking winners.
One of those things is bankroll management, which is possibly the most important factor that sometimes doesn’t get enough attention. It’s taken me some time as a bettor to adhere to strict bankroll management strategies, but one that has helped me be a more profitable bettor.
No bettor is the same and these rules might not apply to everyone, but these are still some very key points that anyone with a sportsbook account should be conscious of.
Understanding Bankroll Management
Your bankroll is the money sitting in your betting account(s). It’s your leverage. It’s your lifeline. Without it, you have no action.
There is no exact science in determining your initial bankroll/deposit(s). One thing is certain, don’t be that guy that YOLO’s their entire deposit on one bet in the hopes of building up a bankroll. It’s not a profitable strategy, and it's one that builds bad betting habits.
A bankroll should be big enough to support a solid duration of bet-able days and will dictate how much you’re wagering on each play. Some bettors like betting 1% of their bankrolls per bet, but even I know that is a very hard strategy to follow. A $500 bankroll can handle $25 plays which is a 5% rate per bet. That could take you through an entire season depending on your betting volume.
If we look at that $500/$25 scenario, the $25 bet will be what we call a unit size — or what our regular bet amount is. This is an important term, as we use it to value our wins/losses in a relative term such as +2.5 units or -0.35 units. Bettors who bet more per wager have bigger units. Don’t get caught in a unit-size race. It’s your money. Nobody except you has to deal with the losses.
Anywhere from $200 to $500 is a decent starting point for an initial bankroll, but it can also be scaled up or down if needed. The most important thing here is to bet within your means and don’t create a bankroll on money that you can’t afford to lose. When you find yourself increasing your wager size despite the bankroll not increasing, stop what you’re doing and get back to the strategy.
That strategy should also include tracking your plays so you can see where your best returns are, how to evaluate success based on the results, sourcing out tools to create better value in your bets, and risk management.
Tracking and ROI
The best indicator of successful betting is your return on investment — or ROI. Because bettors all wager different amounts at different volumes, and at different odds, a win percentage means nothing if you’re a bettor hitting stolen bases at +800 a pop, and measuring profit with units doesn’t tell the whole story, either.
However, ROI is the best indicator of success and measures how much you bet vs. how much you profited. ROI = (Profit/amount wagered) x 100 Any positive ROI is good in sports betting with great long-term bettors sitting in the 5-7% range. It’s not a sexy life scratching out 5% returns, but if you think you’re going to get a 15% ROI or more, you need a reality check. If you track all your plays, make sure you’re measuring your results in ROI.
One emotional bet can wipe out week...