High Wager Sports Picks Wagering Tips

BANKROLL MANAGEMENT

What is bankroll management? Bankroll management refers to how you handle your funds while making bets, and it is the most important part of any winning sports betting strategy, so even if you are just looking to add a bit of excitement to this weekend's game, you should know how to manage your bankroll.

Never bet any money you can’t afford to lose. Your bankroll should be completely separated from the money you need for living, paying bills etc. So what size should your bankroll have? It all depends on your comfort level, financial situation and how often you plan to bet.

BET SIZE

Once you have decided on a bankroll amount the next step is to determine your bet size, meaning what percentage of your bankroll you will bet on any one event. 

So, what is the right amount to bet? Well, here are the general rules of thumb:​​

  • If you want to play it safe, your bets should be 1-2% of your bankroll per single bet.​

  • If you are feeling confident and would like to bet a little more aggressive, your bets should be 3% of your bankroll.​

  • If you are extra confident in your sports betting knowledge and skills, then it’s possible that you could increase your unit size to between 4-5% of your total bankroll.

 

For beginners we recommend staying between 1-3% of your bankroll. This allows you to stay disciplined in your sports betting while you hone your skills finding value.

More Important Wagering Tips

Chasing Losses: It's a scenario we have all found ourselves in. Your last bet went south, and the urge to recoup your loss with a quick win is palpable. It’s tempting, but it’s also a one-way ticket to draining your bankroll. Betting should always be calculated and strategic, not a knee-jerk reaction to a recent loss.

Overconfidence in a ‘Hot Streak’: While it’s exhilarating to rack up wins, remember that each bet is an independent event. No hot streak can alter the fundamental statistics of the game you’re betting on. Confusing luck with skill can impair your judgment and lead you to risky bets.

Ignoring Value: It’s easy to focus solely on picking winners and losers, but smart betting is about finding value. Just because a team is likely to win doesn’t mean they’re a good bet if the potential payout is negligible. Always evaluate the risk-to-reward ratio.

 Overestimating the “Due Factor”: Some bettors wrongly assume that because a team has lost multiple games, they are “due” for a win. This gambler’s fallacy can be dangerous and is not backed by statistical probability.

Mishandling Bankroll: Poor bankroll management is a fast track to financial woe. Ignoring principles like setting a unit size or not keeping records can lead to erratic betting and, ultimately, significant losses.

Neglecting Line Shopping: The accessibility of multiple bookmakers online is not just a convenience; it’s an opportunity for line shopping. Failing to compare odds across different platforms essentially leaves money on the table.

Blindly Following the Public: While popular opinion can provide some insights, it shouldn’t be your compass. Oddsmakers often capitalize on public sentiment, creating artificially inflated or diminished odds that don’t represent the true likelihood of an outcome.