The Bankroll is the total amount available to the player to place his bets. It can increase or decrease depending on the results that are given and precisely that is a criterion to take into account when carrying out a strategy or management of the bankroll. This term bankroll is also used in similar activities such as poker.
How to manage the bankroll in betting?
There are multiple strategies but almost all of them point in the same direction. It is advisable to have in play amounts that in case of bets failure, it is negligible for the bankroll, as for example with a total budget of 200€ not to play bets of more than 3€. This rule should be maintained especially in case of losses, since many inexperienced bettors make the mistake of betting equal or even larger amounts when they lose with the idea of "recovering" what was lost in the previous bet. Such actions often lead to bankruptcy.
What is the Kelly Criterion?
Kelly's criterion is an equation used as a bankroll strategy that allows you to determine the amount to bet on an event based on its estimated real probability, the amount of bankroll you have available and the odds offered by the house.
The formula is:
Percentage of the bankroll = ((((Odds x (Estimate of probability/100)) - 1) / (Odds - 1)) x 100
What is the stake in betting?
The stake is a value, usually between 1-10, that the bettor assigns to a bet according to its profitability. It can be considered as a way of knowing the percentage of the bankroll to bet on each play depending on the confidence that it transmits to us, for example if it is a bet that we do not have very clear to play 1% and if it is a bet that we consider excellent to play 10%. A good bettor has to check what stakes he has assigned to the bets and what relationship they have with the successes and failures.
How does the stakes scale work?
Stake scales are an undefined value that cannot be calculated mathematically and are intended to group bets of various stakes according to whether they are considered slightly reliable, interesting, appropriate, a very good bet or an excellent bet. For example, stakes 1 and 2 could be considered slightly reliable bets and stakes 9 and 10, excellent bets.
What is yield and how to calculate it?
Yield is possibly the most important value to consider when evaluating the work of a tipster. It is in percent the yield of the total of the bets placed and it is calculated by multiplying x100 the net result of the bets and then dividing it from the capital played. The result expresses the percentage that has been obtained for each euro for each unit played.
Tips for managing a low bankroll
Always bet the minimum amount, which can be for example €1. Do not make the mistake of playing the whole amount in the same bet or on the same day, since losing the bankroll means stopping playing or having to reinstate money.
It is advisable to look for bets as profitable as possible and play very low amounts, and until the bankroll does not increase as a result of the results, do not increase the amount to play no matter how attractive a bet is.