NFL Betting Bankroll Management
Bankroll management is extremely important din any form of betting. After all, games of chance involve lots of variance, and you need to manage your winnings/losses wisely in order to survive bankroll swings.
Such is the case with NFL betting, where your best week ever can quickly be followed by a nightmare week. And if you want to ride out the rough times and on towards profits, it's very important that you adopt a strong bankroll management philosophy. Taking this into account, let's go over some money management tips that will give you a better shot at long-term NFL betting success.
Break your Bankroll down into Units
One of the biggest problems that bettors have is looking at their bankroll as one big chunk, instead of a certain number of betting units. For example, they might have $500 total and just wager however much they feel like in the moment. And this is a sure way to quickly burn through your bankroll!
A better idea is to break your money down into a specified number of units. Using the $500 as an example, you could proportion this into 50 chunks, which would work out to $10 a unit. From here, you need to decide how many units to wager on each game, which we'll discuss next.
In order to give yourself a strong chance at long-term NFL wagering success, it's important to be conservative with your betting units. Most of the good football bettors only wager 1-2% of their bankroll on a single game. So if you had a $1,000 bankroll that was broken down into 50 units of $20, you'd only bet $20-$40 (1-2 units) per game.
The idea here is to limit losses during downswings and avoid damaging your bankroll. Now this isn't to say that you can't put more than a couple of units down on a game if you've thoroughly researched it. But we recommend that you avoid risking more than 5% of your bankroll - even when you've got a really good feeling about a certain contest.
Keep your Cool during Losing Streaks
Anybody can look like an expert at bankroll management when things are going well and they're experiencing success. However, losing streaks are when a bettor finds out what they're really made of.
After all, it's very tempting to increase the number of units you put on an NFL game to try and win back losses. However, if the downswing continues, then all you're doing is adding to the problem. So it's crucial that you stick to your bankroll plan during losing streaks - no matter how difficult it may be. By doing so, you'll have an excellent opportunity to do well with NFL betting and possibly come out ahead.
On top of everything else, make sure to do lots of research on potential games that you're going to wager on and never stop studying tips.