What is bankroll
The bankroll is the specific money you allocate to your sports bets. It is not all your money, nor the funds you have at the bookmakers: it is the total capital you have decided can fluctuate with the outcome of your bets.
Bankroll management is probably the most important skill a bettor can develop. It doesn't matter how good you are at picking bets: if you don't control how you distribute your capital, sooner or later you will blow your account.
Why bankroll matters more than the win rate
Imagine two bettors:
- Bettor A: wins 60% of their bets but bets 30% of their bankroll on each pick.
- Bettor B: wins only 52% but never risks more than 2% per bet.
Over time, bettor B will consistently make money. Bettor A, even if better at picking bets, will go to zero after a few losing streaks.
Basic bankroll management rules
1. Separate the bankroll from the rest of your money
Define an amount you are willing to lose entirely without it affecting your life. Put that money in the bookmakers and treat it as your trading capital. Never reload with money you need to live on.
2. Define your bet size
The simplest and most effective model to start with is flat betting: always betting the same unit, regardless of how sure you feel.
The recommended unit is between 1% and 3% of your total bankroll.
| Total bankroll | 2% unit |
|---|---|
| €500 | €10 |
| €1,000 | €20 |
| €5,000 | €100 |
3. Don’t chase losses
One of the most common mistakes is doubling the bet after losing to "recover." This is guaranteed ruin. The decision on how much to bet should be based on the system, not on momentary emotions.
4. Record absolutely everything
Without data, you cannot improve. Every bet must be recorded: odds, stake, market, result. Tools like Oddfolio allow you to do this automatically and visually.
With Oddfolio you can see your bankroll broken down by bookmaker, your evolution over time, and if your stake is being consistent.
When to increase units
You should only increase your unit size when your bankroll has grown significantly. A common rule is to review the unit size every time the bankroll grows by 25%.
If your bankroll drops more than 20%, you should also reduce units proportionally. This way you will never go to zero due to a bad streak.
Conclusion
Bankroll management is not the most exciting aspect of betting, but it is what determines whether you will win or lose money in the long run. Define your bankroll, set a reasonable unit, record all your bets, and be consistent. The rest will come by itself.