Without proper bankroll management it’s only a matter time before you will bust your bankroll. Doesn’t matter how great you’re at capping. To illustrate with an extreme example:
You bet your entire bankroll on every bet you make. Even if you win 9 bets in a row and lose the 10th one you still end up with $0. A 90% accuracy and still nothing to show for it. I know it’s an extreme example but awful bankroll is rampant among sports bettors, even among those who are pretty good at capping. What usually happens in the real world is that you lose a couple of a bets in row, you end up chasing your losses and betting large portions of your bankroll on “sure” bets or risky bets with high rewards in order to recoup your losses and it rarely ends up being pretty. In order to prevent is you need structure.
So how strict money management do I suggest? Before answering this question I want to say that’s it’s not the easiest question in the world to answer. If you’re too conservative with your bankroll you will end up leaving money the table by missing out on winnings. If you’re too aggressive you will likely go bust. There’s a good middle ground somewhere and depending how high your risk tolerance and your edge this changes a bit but I’m going give general guidelines what usually work for most winning cappers.
Assume one 1 unit = 1% of your bankroll. In example a $1,000 roll would mean that 1 unit is $10.
Adjust bet size based on perceived value, in other words if you see great value in the bet you’re making, bet the higher amount suggested.
1-2 units on even money and near even money lines.(ie: +110, -110. +100)
up to 5 units on heavy favorites where you see a lot of value and in the rare instance where you see an underdog that in your opinion should be the heavy favorite but for whatever reason the betting market has completely mispriced it.
0.1-0.5 units on high risk high reward bets. Example a +1000 prop play where you see value but it might only have a 15% chance of hitting.
Avoid parlays. This is a whole seperate discussion in itself but generally parlays means high variance, I know they’re lucrative for losing players but stay away.
If you to feel the need to place the occassional parlay I suggest never go above 0.5 units.
And that’s about it. If you follow the simple guidelines above and never break the rule of going above 5% of your bankroll on a single bet you should never be forced to reload your bankroll(assuming you are winning player). It might seem overly conservative and I can assure that this isn’t even that particulary risk averse. If you’re super worried about losing your bankroll and you think you only have a small edge in whatever betting market you’re working in I would even suggest cutting the above bet sizes in half to be on the safe side.