Deciding on how much to bet is one of the tough questions for beginners. For some, it can get quite tempting to throw in a big bet right off the bat, while for others, even a small bet may seem too risky. How exactly are you supposed to strike the right balance and know exactly how much to bet? We plan on clearing your doubts by providing a helpful guide on how much you should wager.
Managing your bankroll is absolutely crucial in betting, whether you are doing it professionally or recreationally. In the first case, you will be able to increase your winnings, while in the second case, you will be able to make better use of your money.
Keep in mind that, sometimes, how much you can bet and how much you want to bet will be conflicting. Once again, you will realize how important it is to keep tabs on absolutely everything – your wins and losses, how much you can win with each bet, and so on.
Introduction on How Much to Bet?
With your betting account already set up and properly funded, it’s finally time to move on to the real deal. But now comes the pressing question: “how much to bet?”. Don’t worry – many first-time bettors also find themselves worrying about it. As always, it all comes down to personal preference, although there are a few other things worth considering.
The most important rule regarding how much to bet is to know your limits. You should only bet what you can actually afford to lose. After all, aside from some very specific exceptions, betting rarely offers a guaranteed return. The first thing you should take into account when deciding how much to bet is how much you can afford to lose.
Our next recommendation is to keep track of everything related to your betting account – bankroll, wins, losses, and active bets. It’s always a nice idea to use a betting spreadsheet. You can either make one yourself or find one online. The betting spreadsheet makes it much easier to keep tabs on your money.
Another important advice on how much to bet is to not chase losses. You are bound to have bad days every now and then in betting – and that’s perfectly fine. However, don’t try to make up for your losses with crazy bets expecting immediate returns, as it can easily dig you into an even deeper hole. It’s better to live and fight another day rather than risk everything in one go.
Tips on How Much to Bet?
We have listed some important tips for you on how much to bet.
- Keep a betting spreadsheet: this is extremely helpful. It’s easy to lose track of your bets, wins, and losses. A betting spreadsheet takes care of these problems. List your balance, your bets, how much you’ve won, and how much you’ve lost. This is a valid tip for recreational bettors as well, since you will be able to make better use of your money.
- Calculate how much you can profit: it’s always nice to know the potential return from a bet before placing it. You can use a betting calculator to go through all possible bets prior to settling on a single one. Understanding how much you can profit from a bet will make deciding how much to bet much easier.
- Set limits: one way to get the most bang for your buck is by setting limits on your bets and losses. You can come up with betting units to make it simpler. As a rule of thumb, a betting unit is usually 1% of your bankroll. You can then increase or decrease your unit value depending on how much you win or lose. Calculating your wins and losses based on betting units allows you to keep better control of your wallet.
Examples of How Much to Bet?
- If you are riding a negative streak, then it’s usually better to exercise some restraint. You can lower your average bet to 0.5 units rather than a full unit to make better use of your remaining funds, and then adjust accordingly in the future.
- A sportsbook is offering very competitive odds with a solid return on a heavily favored team. In this situation, you can consider raising the bet to 1.5 units or even 2 units, thinking of a solid return.
- An underdog team carries some very long odds to win a match, but you consider that the upset is definitely possible. You can make a small wager, around 0.25 units, and roll the dice. If the bet hits, then you get a solid return with a small investment. If it doesn’t, then you aren’t going to lose much.
Pros and Cons
- Betting with less and using smaller units for a low risk, low return strategy usually means that you will be minimizing your losses in exchange for smaller wins. No worries – you can still get a solid return by accumulating multiple successful bets this way. Slow and steady wins the race after all.
- If you prefer to go big or go home style, then you will be maximizing your returns in exchange for a bigger risk if you lose. But if your bets hit, then you can easily make up for your losses by racking in some huge wins.
- Risking less doesn’t mean zero risk. You are still going to lose bets every now and then. And much like smaller wins can turn into a bigger profit, the same applies for small losses. Multiple small losses can lead to a big dent in your bankroll, and you will take slightly longer to recover. Again, bet wisely and you won’t run into this problem.
- Going for huge bets can easily dry your entire bankroll in the blink of an eye if you are not careful. If you lose more than you win, then your account balance will turn to zero in no time at all. Taking risks doesn’t mean that you have to be reckless. Know how much of a swing you can take instead of just blindly throwing wagers around hoping one of them hits.
How much to bet is always going to come down to your preference and betting style. If you are willing to take risks, then you can make bigger bets. But if you would rather play it safe, then there is absolutely nothing wrong with making smaller bets.
At the end of the day, the same advice applies for both styles: keep track of your bankroll, understand how much you can afford to bet and always calculate potential returns before wagering.
As long as you have a well-defined betting strategy and stick to it, you are bound to win more often than you are going to lose. In the long run, this means that you will be making a profit no matter how much you decide to bet.
FAQs: How much to bet?
1. What is a good amount to bet?
2. How much does a $100 bet win?
3. How much should you bet per unit?
4. How much of my bankroll should I bet a day?
5. How much do I bet on a game?