Sports betting isn’t just about who knows the most about sports – it’s also about who knows how to wager properly. With no strategy behind your stakes, you may end up not having the bankroll when you most need it. Here are five signals that your average betting size may be too large.
Your Bankroll Has Significantly Shrunk
Finding your bankroll to be constantly low is perhaps the most obvious indicator that it’s time to reassess your betting strategy. If losses have diminished your funds so that there’s not much room to left to bet, it becomes risky to continue betting the same amount. So, a £30 bet represents 3% of a £1,000 bankroll. That quickly jumps up to 6% when your bankroll hits £500. Continuing with the same bet size after a series of losses can quickly deplete your funds. To solve this, recalculate your unit sizes based on the current bankroll (ideally you’ll stick to the 1%-5% rule.
Your Win Rate Consistently Underperforms Expectations
If your win rate is frequently below expectations then this ought to raise a red flag. If your actual win percentage is less than what you initially had in mind, your bet sizing might overestimate your edge. So, a bettor expecting a 55% win rate but only achieving 50% risks quickly using up their bankroll. You need to be on top of this ASAP when your performance doesn’t align with your predictions. If you use many different providers on Legalbet.uk, or perhaps mixing in casino betting too, then you need to take the aggregate into account – try and look at the bigger picture.
You’re Making Emotion-Driven Bets
Making emotion-driven bets is a big factor in overbetting, particularly when chasing losses after a cold streak. Though, many overbet during a hot streak too. Emotions lead to poor decisions because it clouds our rational and logical thinking. Perhaps worse though is that it can make us overconfident, and this is what really drives the overbetting. The warning signs of this are if you’re betting more than planned after big wins or losses. Try to stick to your wager plan no matter what…
You’re Using High-Variance Strategies
High-variance strategies can increase bankroll volatility. Ideally you will use smaller bet sizes to mitigate their inherent unpredictability while still being able to participate. Wager on a wide variety of sports, leagues, bet types, and individual bets rather than trying to concentrate capital. Diversification reduces correlated risks, just like in most areas of life.
Your Bets Exceed 5% of Total Bankroll
Professional bettors typically risk just 1% per play because they know that larger percentages exponentially increase the risk of ruin. With simple percentage-based staking, each wager represents an equal percentage of your total available bankroll. Most beginners find stability in using 1-5% stakes as they learn too. Some strategies may require higher percentages and that’s fine, but it should be preplanned. Going above 5% should be a red flag unless it was preplanned in a strategy that focuses on short odds and high probability, like the current outlook for Liverpool to win the league. Sticking to these rules can help gain more experience, place more bets, and focus on higher volume.
Sports betting is very difficult, and so to ensure that it remains enjoyable rather than running out of money early on, knowing how much to wager is key.
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