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
- Strong money management can help you stay in a game
- 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



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19+. T&C Apply. Play ResponsiblyHuge Selection of Sports Betting MarketsOne of the Oldest Online SportsbooksExclusive Partnership with Sports IllustratedPromo Code
The code required to claim a sign-up bonus (if any)
Min Deposit10Acca InsuranceRefund or free bet when one selection in an accumulator lets the bet down
YesLive StreamingIs there live streaming of sporting events?
NoIn-Play BettingThe number of sports with in-play betting available
34Bet BuilderCan you create your own personalised bets?
No888 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. -
19+. T&C Apply. Play ResponsiblyRegular Bettor TournamentsForecast BettingBettor Hall of FamePromo Code
The code required to claim a sign-up bonus (if any)
Min Deposit10Acca InsuranceRefund or free bet when one selection in an accumulator lets the bet down
NoLive StreamingIs there live streaming of sporting events?
NoIn-Play BettingThe number of sports with in-play betting available
13Bet BuilderCan you create your own personalised bets?
No20Bet 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. -
19+. T&C Apply. Play ResponsiblyRegular Tournament LeaguesWeekly Acca Rewards & BoostsBet Builder FeaturePromo Code
The code required to claim a sign-up bonus (if any)
Min Deposit10Acca InsuranceRefund or free bet when one selection in an accumulator lets the bet down
NoLive StreamingIs there live streaming of sporting events?
NoIn-Play BettingThe number of sports with in-play betting available
15Bet BuilderCan you create your own personalised bets?
NoPowbet sportsbook run a distinctive theme with a unique design. The platform comes with all the features and rewards that newcomers and experience bettors will appreciate, some of which are bet builder, acca boosts and regular tournaments. -
19+. T&C Apply. Play ResponsiblyRegular Bettors TournamentsSport VIP ProgramOngoing 'Forecasts' PromotionPromo Code
The code required to claim a sign-up bonus (if any)
Min Deposit15Acca InsuranceRefund or free bet when one selection in an accumulator lets the bet down
NoLive StreamingIs there live streaming of sporting events?
NoIn-Play BettingThe number of sports with in-play betting available
21Bet BuilderCan you create your own personalised bets?
NoTonyBet 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. -
19+. T&C Apply. Play ResponsiblyLong Established UK BookmakerRegular Bet BoostsUse Bet Builder to Make Custom BetsPromo Code
The code required to claim a sign-up bonus (if any)
Min Deposit10Acca InsuranceRefund or free bet when one selection in an accumulator lets the bet down
NoLive StreamingIs there live streaming of sporting events?
YesIn-Play BettingThe number of sports with in-play betting available
33Bet BuilderCan you create your own personalised bets?
YesBetVictor 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. -
19+. T&C Apply. Play ResponsiblyTennis Betting LeaderboardBig Selection of Popular SportsClean Design for Smooth NavigationPromo Code
The code required to claim a sign-up bonus (if any)
Min Deposit10Acca InsuranceRefund or free bet when one selection in an accumulator lets the bet down
NoLive StreamingIs there live streaming of sporting events?
NoIn-Play BettingThe number of sports with in-play betting available
32Bet BuilderCan you create your own personalised bets?
NoGuts 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. -
19+. T&C Apply. Play ResponsiblyRegular Bettor TournamentsCashback & Acca Boost PromotionsCompetitive Odds & Extensive Sports SelectionPromo Code
The code required to claim a sign-up bonus (if any)
Min Deposit20Acca InsuranceRefund or free bet when one selection in an accumulator lets the bet down
YesLive StreamingIs there live streaming of sporting events?
NoIn-Play BettingThe number of sports with in-play betting available
11Bet BuilderCan you create your own personalised bets?
YesGreatWin 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. -
19+. T&C Apply. Play ResponsiblyBig Selection of Esports LeaguesAll Major Leagues Around the World CoveredAcca Boost for Higher ProfitsPromo Code
The code required to claim a sign-up bonus (if any)
Min Deposit20Acca InsuranceRefund or free bet when one selection in an accumulator lets the bet down
NoLive StreamingIs there live streaming of sporting events?
YesIn-Play BettingThe number of sports with in-play betting available
11Bet BuilderCan you create your own personalised bets?
NoWith its unique Ancient Rome theme, Casinoly sets itself apart. The brand is a dual operator offering casino and sportsbook. It features a huge collection of sports betting options. -
19+. T&C Apply. Play ResponsiblyMobile First Betting InterfaceLeo King' Sports Prediction Game24/7 Customer ServicePromo Code
The code required to claim a sign-up bonus (if any)
Min Deposit10Acca InsuranceRefund or free bet when one selection in an accumulator lets the bet down
NoLive StreamingIs there live streaming of sporting events?
NoIn-Play BettingThe number of sports with in-play betting available
34Bet BuilderCan you create your own personalised bets?
YesLeo 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. -
19+. T&C Apply. Play ResponsiblyWell Designed & Easy To Use Interface‘Boost Up’ Accumulator BoostsLive Betting & Cash-Out OptionsPromo Code
The code required to claim a sign-up bonus (if any)
Min Deposit10Acca InsuranceRefund or free bet when one selection in an accumulator lets the bet down
NoLive StreamingIs there live streaming of sporting events?
NoIn-Play BettingThe number of sports with in-play betting available
Bet BuilderCan you create your own personalised bets?
NoLuckster is a dual sportsbook and casino platform with a vaguely Irish theme, including the inevitable leprechaun logo and shamrock imagery.
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Contributors

Hi, I'm Dean Ryan
"A passionate sports betting expert and journalist with over 15 years spent in the gambling industry."
- Sports Betting Sites
- Odds Compiling
- Horse Racing
Reviewer since June 2016