# Effective Sports Betting Money Management

Money management, sometimes called bankroll management, is not, strictly speaking, a betting strategy. But it is very important and will influence how you play.

## The Pot

Your pot, or bankroll, is the amount you are willing to spend on your betting system over a fixed amount of time. The main benefits of creating one are:

• To accurately assess the success of your strategy by monitoring your progress
• To stick to a plan and avoid impulse betting
• It helps you decide how much to stake

## Money Management Strategies

Once your pot is in place, money management strategy becomes a question of how best to put this pot to good use. There are lots of ways to do this, but we will have a quick look at the most common ones here.

### Fixed Stake

Always betting a fixed figure (usually a percentage of your initial pot), lets you apply equal value to all of your betting decisions and allowing the odds to account for variations. This is a safe start for every beginner and can be a good way to ease into regular gambling.

### Kelly Criterion

The amount you bet, as a percentage of your bankroll, is calculated by multiplying the odds (in decimal form) by the chances of winning, then dividing by the odds minus one.

For example, let's say you had a bankroll of £1,000 and wanted to bet on Real Madrid to beat Athletico in the Champions League final with Betfair Sports at 1.98, but thought Real had a 75% chance of winning. You'd bet ((1.98 x 0.75) - 1) - (1.98 - 1) = 0.494 or 49% of your bankroll, so £490. But it's vital to get the predicted chances of winning correct to avoid over or under valuing a bet; and it's also worth remembering that the Kelly Criterion instantly reflects the size of your pot, making it a strategy that pushes for aggressive growth.

### Star System

Even more aggressive than Kelly, the Star System is essentially a more complex version of casino-betting's Martingale System, and involves an incremental series of rising bets to rapidly boost your pot. The series, which represents bet multiples, goes: 1, 1, 1 / 2, 5, 10, 15, 25, 40 STOP. The '/' represents the point to start the progression, which only ever occurs after a win. To employ this approach, you need to be incredibly confident in your predictions or risk losing everything due to gambler's fallacy.

## Monitor and Keep Track

TThe rise of online gaming has made it much easier to establish and track the development of your pot. Sites like Betfair provide their account holders with detailed bet histories and the option to download long-term account data.

## Gamble Responsibly

Your money is important, and a solid bankroll management strategy plays a big role in responsible gambling. It helps stay in control and cultivates discipline. It reminds that you have a strategy in place and helps you stick to that strategy instead of allowing impulsive behaviour to creep into your play.

Modern online betting sites help with some tools that help you monitor how long you have been playing as well as tools to help you set financial limits. These days you can control the products you see, limit your deposit amounts and self-exclude if you feel a break is the right thing.

Responsible gambling helps you avoid reckless behaviour and helps to enhance any bankroll management strategy you put in place.

## Recommended Betting Sites

Affiliate Disclosure: At Gambling.com, we want to ensure that players are matched with the right casino and sportsbook offers for them. For this reason, some of the recommended site links are affiliate links.
1. 1
Established 1946
Long Established UK Bookmaker
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Use Bet Builder to Make Custom Bets
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The code required to claim a sign-up bonus (if any)
Min Deposit
10
Acca Insurance
Refund or free bet when one selection in an accumulator lets the bet down
No
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Is there live streaming of sporting events?
Yes
In-Play Betting
The number of sports with in-play betting available
33
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Can you create your own personalised bets?
Yes
BetVictor is named after founder Victor Chandler (known as the 'Gentleman Bookmaker') and they boast superstar jockey Rachael Blackmore, plus football legends Michael Owen and Harry Redknapp amongst their brand ambassadors and betting experts.
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Min Deposit
30
Acca Insurance
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Yes
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Is there live streaming of sporting events?
Yes
In-Play Betting
The number of sports with in-play betting available
11
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Can you create your own personalised bets?
Yes
GreatWin features a polished design that let's its users easily focus on broad selection of available sports. The platform offers competitive odds, but it stands out with ongoing promotions such as acca boosts. Players can also explore the casino section for more fun.
3. 3
Established 2022
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Promo Code
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Min Deposit
20
Acca Insurance
Refund or free bet when one selection in an accumulator lets the bet down
No
Live Streaming
Is there live streaming of sporting events?
No
In-Play Betting
The number of sports with in-play betting available
11
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Can you create your own personalised bets?
Yes
CobraBet is a reliable online sportsbook with excellent backing (Dama N.V.). It offers an incredible number of markets and promotions, along with very competitive odds.
4. 4
Established 2009
Dual Sportsbook & Casino Operator
Platform with a Clean Design
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Promo Code
The code required to claim a sign-up bonus (if any)
Min Deposit
10
Acca Insurance
Refund or free bet when one selection in an accumulator lets the bet down
No
Live Streaming
Is there live streaming of sporting events?
No
In-Play Betting
The number of sports with in-play betting available
11
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Can you create your own personalised bets?
No
VIP Casino is a host to amazing selection of casino games. Additionally, those eager to place sports bet will find the brand offering plenty of sports betting options.
5. 5
Established 2016
Mobile First Betting Interface
Leo King' Sports Prediction Game
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Min Deposit
10
Acca Insurance
Refund or free bet when one selection in an accumulator lets the bet down
No
Live Streaming
Is there live streaming of sporting events?
No
In-Play Betting
The number of sports with in-play betting available
34
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Can you create your own personalised bets?
Yes
Leo Vegas Sports is the sportsbook from this multi-award-winning casino operator, with a focus on mobile users - including a sport betting app for Android & iOS Devices.
6. 6
Established 2014
Cute Panda Theme
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Min Deposit
10
Acca Insurance
Refund or free bet when one selection in an accumulator lets the bet down
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Is there live streaming of sporting events?
Yes
In-Play Betting
The number of sports with in-play betting available
39
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Can you create your own personalised bets?
No
Royal Panda might be known for it's world-class casino, but the brand also offers a panda themed sportsbook. Players can enjoy profit boosts by placing several bets on a single slip.
7. 7
Established 1997
Big Selection of Live Betting Markets
Official Partner of NLL
Competitive Odds on Various Sports and Events
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Min Deposit
20
Acca Insurance
Refund or free bet when one selection in an accumulator lets the bet down
No
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Is there live streaming of sporting events?
No
In-Play Betting
The number of sports with in-play betting available
4
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Can you create your own personalised bets?
No
Sports Interaction is a dual platform offering both sportsbook and casino games. The brand delivers a plethora of options on both sides, offering a smooth experience on all platforms.
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Established 2022
Fast & Clean Betting Interface
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Min Deposit
10
Acca Insurance
Refund or free bet when one selection in an accumulator lets the bet down
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Live Streaming
Is there live streaming of sporting events?
No
In-Play Betting
The number of sports with in-play betting available
32
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Can you create your own personalised bets?
No
ZetBet is a new to market betting site that includes an attractive sportsbook with excellent filters to enable you to find your bet quickly and easily.
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Established 2021
96% Payout Rate On Top Leagues
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Min Deposit
30
Acca Insurance
Refund or free bet when one selection in an accumulator lets the bet down
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The number of sports with in-play betting available
-
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Can you create your own personalised bets?
Yes
Unlike other betting companies, Sportaza appeals to a new generation of customer by gamifying its offering. This means every week, the online bookmaker will host challenges and tournaments where bettors earn points to improve their VIP rank.
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Established 2022
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Min Deposit
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Live Streaming
Is there live streaming of sporting events?
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In-Play Betting
The number of sports with in-play betting available
6
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Can you create your own personalised bets?
Yes
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Established 2020
Regular Bettor Tournaments
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Min Deposit
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In-Play Betting
The number of sports with in-play betting available
13
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Can you create your own personalised bets?
No
20Bet wants to amaze bettors with several interesting features. Users will find hall of fame and regular tournaments appealing. They'll be able to compete with others to stay at the top.
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Established 2018
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Min Deposit
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Refund or free bet when one selection in an accumulator lets the bet down
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Is there live streaming of sporting events?
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The number of sports with in-play betting available
27
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Can you create your own personalised bets?
No
PowerPlay is a host to big selection of sports betting options. Sport-specific promotions are there to reward players with various benefits.
13. 13
Established 2006
Blog with Comprehensive Tutorials on Sports Betting
Live Streaming is Supported
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Min Deposit
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The number of sports with in-play betting available
30
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Can you create your own personalised bets?
Yes
Betsafe caters to new and experienced players. Those without experience will find the blog section informative while experienced bettors will appreciate the wide selection of in-play sports and live stream functionality.
14. 14
Established 2009
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Min Deposit
20
Acca Insurance
Refund or free bet when one selection in an accumulator lets the bet down
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Live Streaming
Is there live streaming of sporting events?
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The number of sports with in-play betting available
21
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Can you create your own personalised bets?
No
TonyBet offers over 1,650 sports betting markets and sports. Aside from being spoilt for choice, bettors can also enjoy difrerent promotions. Plus the platform is available on all operating systems.
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Established 2018
Simple & Easy to Navigate Betting Lobby
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Promo Code
The code required to claim a sign-up bonus (if any)
Min Deposit
10
Acca Insurance
Refund or free bet when one selection in an accumulator lets the bet down
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Live Streaming
Is there live streaming of sporting events?
Yes
In-Play Betting
The number of sports with in-play betting available
Bet Builder
Can you create your own personalised bets?
No
The Online Casino, as its name clearly indicates, is a casino first operator with an added sportsbook if you also fancy some sports wagers.
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Established 2022
Operated by Marketplay Ltd & Aspire Global Ltd
Bet Builder available for most popular sports
Promo Code
The code required to claim a sign-up bonus (if any)
Min Deposit
10
Acca Insurance
Refund or free bet when one selection in an accumulator lets the bet down
No
Live Streaming
Is there live streaming of sporting events?
No
In-Play Betting
The number of sports with in-play betting available
8
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Can you create your own personalised bets?
Yes
VegasLand sports betting has a huge variety of markets with top licensing from Malta. Obscure, hard-to-find leagues are available here. Free bets and excellent odds on your favourite sports can be found.
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Established 2013
Big Selection of Popular Sports
Promo Code
The code required to claim a sign-up bonus (if any)
Min Deposit
10
Acca Insurance
Refund or free bet when one selection in an accumulator lets the bet down
No
Live Streaming
Is there live streaming of sporting events?
No
In-Play Betting
The number of sports with in-play betting available
32
Bet Builder
Can you create your own personalised bets?
No
Guts is a great platform where sports betting enthusiasts will find everything they need. Plus, they can play casino games and poker if they like to.
18. 18
Established 2010
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Promo Code
The code required to claim a sign-up bonus (if any)
Min Deposit
10
Acca Insurance
Refund or free bet when one selection in an accumulator lets the bet down
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Live Streaming
Is there live streaming of sporting events?
No
In-Play Betting
The number of sports with in-play betting available
30
Bet Builder
Can you create your own personalised bets?
No
ComeOn! is a popular international brand. It features a platform with clean design that's responsive and easy to use. ComeOn! Rewards make everything more interesting as players can enjoy benefits while betting on sports.
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Established 2021
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Min Deposit
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Refund or free bet when one selection in an accumulator lets the bet down
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Is there live streaming of sporting events?
No
In-Play Betting
The number of sports with in-play betting available
0
Bet Builder
Can you create your own personalised bets?
No
Oh My Spins offers a number of great features to its customers. It is certainly proud of the in-play betting and extra wagers options allowing users to get in on the live betting action even after the games have already started.
20. 20
Established 1997
Huge Selection of Sports Betting Markets
One of the Oldest Online Sportsbooks
Exclusive Partnership with Sports Illustrated
Promo Code
The code required to claim a sign-up bonus (if any)
Min Deposit
10
Acca Insurance
Refund or free bet when one selection in an accumulator lets the bet down
Yes
Live Streaming
Is there live streaming of sporting events?
No
In-Play Betting
The number of sports with in-play betting available
14
Bet Builder
Can you create your own personalised bets?
Yes
888 Sportsbook offers a massive selection of sports betting markets and sports to its customers. In an US expansion effort, the brand has teamed up with Sports Illustrated.