NBA Postseason Best Bets (5/3)
Alex Christenson
What Is a Sports Betting Bankroll?
A bankroll in sports betting is the amount of money you’re willing to lose before calling it quits or taking a break. It’s money you’ve specifically designated to bet on sports, risking only what you can afford to lose. If you deposit $100 into your favorite sportsbook, you shouldn’t be risking your entire balance on a single wager. We’re all guilty of betting on a game or an event for our entertainment (perfect example is the Super Bowl) but it’s critical to treat your bets as an enterprise you want to get a positive return on.
How to Build Your Bankroll?
The easiest way to build your sports betting bankroll is obviously to place +EV bets and win, but an often-overlooked aspect is always be sure to bet the best number available. Use FTN’s Prop Shop to find the best number when betting props and FTN’s Live Odds page when betting on sides and totals.
Bankroll Management
It’s not all about just picking winners, managing your bankroll is critical when you’re betting on sports. Doubling down or chasing losses is an easy way to find yourself in a hole or down big. You never want to risk what you can’t afford to lose when betting on sports. Ideally your bet size should depend on the size of your edge, but quantifying your edge isn’t always easy. If you can’t quantify your edge, then you should stick to a fixed/flat betting (betting the same amount) with your wagers. It isn’t the soundest approach, but it’s better than using your gut/feel to determine how much to bet on an event.
