Celebrating 28 Years in 2025
Sports Betting Bankroll Management Pro Tips
Sports Betting Bankroll Management Pro Tips
It would be wonderful if our bankrolls increased predictably and smoothly week-by-week, but that is simply not the way it works. We are not dealing with an escalator moving smoothly and predictably upwards; we are dealing with a pogo stick bouncing crazily up a long, slow, uneven grade. Less than one "bounce" in twenty of our pogo stick will result in a new all time "altitude" record.
Even with about a 55 percent expectation on each and every bet, you will have less bankroll than you've had at one time or another in the past more than 95 percent of the time.
Bob McCune, Legendary Sports Bettor, Author, Lecturer
Sonny Reizner, Legendary Sports Book Operator, Bookmaker and Sports Bettor
R.J. Miller and J.R. Miller, Founders of This Site and Legendary Sports Bettors and Authors
We embarked on an extensive research journey, culminating in our book "How Professional Gamblers Beat The Pro Football Pointspread," where we worked with esteemed mathematician, Dr. Jeffery Allbritton from Middle Tennessee State University, to verify the mathematics and probabilities involved in sports betting.
1. The Power of Correct Money Management
We discovered that successful sports betting is not just about predicting winners, but equally essential is using correct money management techniques. Ignoring this aspect can lead to a swift exit from the sports betting arena, even with a winning strategy.
2. Understanding the Nature of Expectations
Our concentrated study of expectations unveiled a crucial insight: even with a 55 percent success rate on each bet, it's normal to experience a decline in bankroll over 95 percent of the time. 19 out of 20 days you will have less money in your sports book account than at some other time. It is natural for us to feel like we should have more every day, but of course that is not possible. Bankrolls grow in this awkward fashion, and recognizing this fact is paramount to maintaining emotional stability while navigating the unpredictable world of sports betting.
3. Embracing the Reality of Winning and Losing Streaks
The worst losing streak I recall occurred to a professional handicappers in Vegas, Tony Diamond. Tony had a popular radio show, on which he called a shocking 0-27 losing streak against the NBA -- despite his expertise. Tony was never more popular and this ended up boosting his business, oddly. Losing streaks are a reality for all professional sports bettors. Acknowledging this reality and preparing for it emotionally will help you stay on course during bumpy rides.
4. Long-Term Focus: The Key to Success
The ultimate goal is to weather the short-term fluctuations by understanding that, over time, the odds will work in your favor with a winning strategy. Drawing on decades of experience and research, we emphasize the significance of maintaining a long-term perspective.
5. The Perils of Poor Money Management
We firmly believe that bad money management is as detrimental to bettors as poor handicapping. Avoid falling for progressive betting schemes that promise quick riches, as they can lead to financial disaster. Instead, adopting a steady, level betting approach is the safest and most effective way to achieve sustainable success.
Conclusion
Armed with a deep understanding of money management and its integral role in sports betting, you'll be better prepared to face the highs and lows of this exciting endeavor. Stay focused on your long-term advantage, and let your expertise, combined with sensible money management, lead you to profitable outcomes.
Remember, betting is a marathon, not a sprint. Embrace the journey, and with the right strategy, you can build a successful and enjoyable sports betting experience. Happy betting!