Why Bankroll Management Matters
Proper bankroll management is the foundation of successful gambling. It protects you from ruin and ensures you can weather inevitable losing streaks.
Setting Your Bankroll
Only gamble with money you can afford to lose. Your gambling bankroll should be completely separate from living expenses.
Unit Sizing
A unit should be 1-5% of your total bankroll. Conservative bettors use 1-2%, while more aggressive players might use 3-5%.
The Kelly Criterion
For advantage players, the Kelly Criterion suggests optimal bet sizing: (edge x odds - 1) / (odds - 1) = percentage to wager.
Session Limits
Set win and loss limits for each session. Walking away at predetermined points prevents emotional decisions.
Tracking Your Results
Keep detailed records of all bets. Analyze your performance monthly to identify strengths and leaks in your game.
