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 2012
Live Streaming of UK Horse Racing
Acca Club: £5 Free Bet Every Week
Bonus Code
The code required to claim this sign-up bonus (if any)
Live Streaming
Is there live streaming of sporting events?
Yes
In-Play Betting
The number of sports with in-play betting available
9
Bet Builder
Can you create your own personalised bets?
Yes
Cash Out
Can you cash out of bets before an event has finished?
Yes
Acca Insurance
Refund or free bet when one selection in an accumulator lets the bet down
Yes
BetUK have former England footballer Teddy Sheringham and six time champion jockey Kieren Fallon as brand ambassadors and betting experts.
2. 2
Established 2015
Random Supercharged Payouts
Weekly ‘kwiff Club’ Cashback & Free Bets
‘Acca Shield’ Refund (if One Leg Fails)
Bonus Code
The code required to claim this sign-up bonus (if any)
Live Streaming
Is there live streaming of sporting events?
Yes
In-Play Betting
The number of sports with in-play betting available
13
Bet Builder
Can you create your own personalised bets?
No
Cash Out
Can you cash out of bets before an event has finished?
Yes
Acca Insurance
Refund or free bet when one selection in an accumulator lets the bet down
Yes
When a customer places a bet with kwiff, they may find that their bet is “kwiffed” - where you receive increased odds after placing your bet.
3. 3
Established 2000
Long Established UK Bookmaker
BV Loyalty Club - Weekly £5 Free Bet
Free to Play 'Pick 6' Predictor Game
Bonus Code
The code required to claim this sign-up bonus (if any)
Live Streaming
Is there live streaming of sporting events?
Yes
In-Play Betting
The number of sports with in-play betting available
12
Bet Builder
Can you create your own personalised bets?
Yes
Cash Out
Can you cash out of bets before an event has finished?
Yes
Acca Insurance
Refund or free bet when one selection in an accumulator lets the bet down
No
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.
4. 4
Established 1997
Create your own Multiples with Bet Builder
Live Streaming of all UK & Irish Racing
Daily Price Enhancements & Specials
Bonus Code
The code required to claim this sign-up bonus (if any)
Live Streaming
Is there live streaming of sporting events?
Yes
In-Play Betting
The number of sports with in-play betting available
16
Bet Builder
Can you create your own personalised bets?
Yes
Cash Out
Can you cash out of bets before an event has finished?
Yes
Acca Insurance
Refund or free bet when one selection in an accumulator lets the bet down
Yes
888sport offer a wide range of sports betting markets, combined with regular enhanced specials, plus an exclusive 'Acca Club' (bet £20 on Multiples or Bet Builder to get a £5 free bet - every week).
5. 5
Established 1999
Primary Shirt Sponsor of Burnley FC
Football First Goalscorer Insurance
Horse Racing '2nd to a Rag' Insurance
Bonus Code
The code required to claim this sign-up bonus (if any)
Live Streaming
Is there live streaming of sporting events?
No
In-Play Betting
The number of sports with in-play betting available
20
Bet Builder
Can you create your own personalised bets?
Yes
Cash Out
Can you cash out of bets before an event has finished?
Yes
Acca Insurance
Refund or free bet when one selection in an accumulator lets the bet down
No
Spreadex is the only UK betting site to offer traditional sportsbook fixed-odds betting as well as sports spread betting and financial trading from the same account. It is also one of the few betting companies to offer credit facilities - meaning sports betters can place bets without having to first deposit funds.
6. 6
Established 2020
'Rising Star Operator of the Year' 2021
Interactive Football Match Centre
‘BoostItOn’ Accumulator Boosts
Bonus Code
The code required to claim this sign-up bonus (if any)
Live Streaming
Is there live streaming of sporting events?
No
In-Play Betting
The number of sports with in-play betting available
27
Bet Builder
Can you create your own personalised bets?
No
Cash Out
Can you cash out of bets before an event has finished?
Yes
Acca Insurance
Refund or free bet when one selection in an accumulator lets the bet down
No
BetItOn have ex-Liverpool striker and Champions League winner Djibril Cissé as their brand ambassador and resident football expert.
7. 7
Established 2020
10% Cash-Back on Various Sports
'Wager Wars' Cash Prizes
Full & Partial Cash-Out Options
Bonus Code
The code required to claim this sign-up bonus (if any)
Live Streaming
Is there live streaming of sporting events?
No
In-Play Betting
The number of sports with in-play betting available
16
Bet Builder
Can you create your own personalised bets?
Yes
Cash Out
Can you cash out of bets before an event has finished?
Yes
Acca Insurance
Refund or free bet when one selection in an accumulator lets the bet down
No
BritainBet is a relatively new sports betting site and casino platform, which offers Bet Builder and Cash-Outs, plus 24/7 customer service.
8. 8
Established 2016
Mobile First Betting Interface
'Leo King' Sports Prediction Game
Bonus Code
The code required to claim this sign-up bonus (if any)
Live Streaming
Is there live streaming of sporting events?
No
In-Play Betting
The number of sports with in-play betting available
34
Bet Builder
Can you create your own personalised bets?
Yes
Cash Out
Can you cash out of bets before an event has finished?
Yes
Acca Insurance
Refund or free bet when one selection in an accumulator lets the bet down
No
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.
9. 9
Established 2018
Simple & Easy to Navigate Betting Lobby
'Wager Wars' Leaderboard & Cash Prizes
10% Cashback on Sports Betting Losses
Bonus Code
The code required to claim this sign-up bonus (if any)
Live Streaming
Is there live streaming of sporting events?
No
In-Play Betting
The number of sports with in-play betting available
12
Bet Builder
Can you create your own personalised bets?
No
Cash Out
Can you cash out of bets before an event has finished?
Yes
Acca Insurance
Refund or free bet when one selection in an accumulator lets the bet down
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.
10. 10
Established 2001
Awarded 'Sportsbook of the Year' 2018/19/20/21
Live Streaming of 1000's of Events
2 Goals Ahead Early Payout Offer
Bonus Code
The code required to claim this sign-up bonus (if any)
Live Streaming
Is there live streaming of sporting events?
Yes
In-Play Betting
The number of sports with in-play betting available
31
Bet Builder
Can you create your own personalised bets?
Yes
Cash Out
Can you cash out of bets before an event has finished?
Yes
Acca Insurance
Refund or free bet when one selection in an accumulator lets the bet down
No
Bet365 offer the most comprehensive online sports betting service, including live steaming of a huge range of sports, plus a unique 'Edit Bet' functionality.
11. 11
Established 2003
Regular Free Bets & Enhanced Odds Specials
Cutting Edge In-Play Betting Options
Accumulator Boosts of up to 50%
Bonus Code
The code required to claim this sign-up bonus (if any)
Live Streaming
Is there live streaming of sporting events?
No
In-Play Betting
The number of sports with in-play betting available
12
Bet Builder
Can you create your own personalised bets?
Yes
Cash Out
Can you cash out of bets before an event has finished?
No
Acca Insurance
Refund or free bet when one selection in an accumulator lets the bet down
No
10bet is one of the smaller online bookmaker brands in the UK but they are becoming more popular thanks to their impressive website and daily betting promotions.
12. 12
Established 2002
One of the UK's Biggest Bookmakers
Football & Racing 'Super Series' Predictor Games
'Beaten by a Length' Free Bets
Bonus Code
The code required to claim this sign-up bonus (if any)
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?
No
Cash Out
Can you cash out of bets before an event has finished?
No
Acca Insurance
Refund or free bet when one selection in an accumulator lets the bet down
Yes
Coral has long established high street shops across the UK and with their industry-leading Coral Connect card you can deposit and withdraw money in shops, alongside a host of other benefits.
13. 13
Established 2007
'Million Pound Picks' Predictor Game
Live Streaming of all UK & Irish Racing
3 x Odds Boost Tokens Every Week
Bonus Code
The code required to claim this sign-up bonus (if any)
Live Streaming
Is there live streaming of sporting events?
Yes
In-Play Betting
The number of sports with in-play betting available
23
Bet Builder
Can you create your own personalised bets?
Yes
Cash Out
Can you cash out of bets before an event has finished?
Yes
Acca Insurance
Refund or free bet when one selection in an accumulator lets the bet down
No
Grosvenor Sport is the sportsbook of Grosvenor Casinos - the UK's largest casino operator with over 50 casinos located in major towns and cities across the UK.
14. 14
Established 1929
UK's Leading Horse Racing Pool Betting Operator
Home of the Placepot & Exclusive Placepot App
Never Beaten by SP on Horse Racing with Tote+
Bonus Code
The code required to claim this sign-up bonus (if any)
Live Streaming
Is there live streaming of sporting events?
Yes
In-Play Betting
The number of sports with in-play betting available
2
Bet Builder
Can you create your own personalised bets?
No
Cash Out
Can you cash out of bets before an event has finished?
No
Acca Insurance
Refund or free bet when one selection in an accumulator lets the bet down
No
The Tote offers horse racing pool betting, popular with punters who place small stakes to win large amounts. Favourite bets include the Placepot (picking a horse to be placed in the first six races) and Jackpot/Scoop6 (picking the winner of each of six nominated races on a single day).
15. 15
Established 2005
Official UK Betting Partner of Fulham FC
Regular Money-Back Specials
'Racing Sportsbook of the Year' 2020
Bonus Code
The code required to claim this sign-up bonus (if any)
Live Streaming
Is there live streaming of sporting events?
No
In-Play Betting
The number of sports with in-play betting available
8
Bet Builder
Can you create your own personalised bets?
Yes
Cash Out
Can you cash out of bets before an event has finished?
Yes
Acca Insurance
Refund or free bet when one selection in an accumulator lets the bet down
No
Fitzdares have offered a boutique bookmaker service to members of their exclusive Mayfair Club (The Fitzdares Club) since 1882, but have now launched an online sportsbook open to all.
16. 16
Established 2022
17. 17
Established 2000
Daily Odds Boost Tokens
#GetAPrice - Create Your Own Bet
Edit Accumulator Bets In-Running
Bonus Code
The code required to claim this sign-up bonus (if any)
Live Streaming
Is there live streaming of sporting events?
Yes
In-Play Betting
The number of sports with in-play betting available
22
Bet Builder
Can you create your own personalised bets?
Yes
Cash Out
Can you cash out of bets before an event has finished?
No
Acca Insurance
Refund or free bet when one selection in an accumulator lets the bet down
Yes
Ladbrokes is one of the world’s leading betting and gaming companies with a heritage dating back to 1886 and betting shops across the UK and Ireland. They were awarded 'Football Sportsbook of the Year' in 2021.
18. 18
Established 2008
'Sports Betting Operator of the Year' 2020 & 2022
Official Betting Partner of Tottenham Hotspur FC
Free to Play 'Free or 4' Predictor Game
Bonus Code
The code required to claim this sign-up bonus (if any)
Live Streaming
Is there live streaming of sporting events?
Yes
In-Play Betting
The number of sports with in-play betting available
31
Bet Builder
Can you create your own personalised bets?
Yes
Cash Out
Can you cash out of bets before an event has finished?
Yes
Acca Insurance
Refund or free bet when one selection in an accumulator lets the bet down
Yes
Named after its founder way back in 1934, William Hill is now one of the world's biggest bookmaker brands and operates over 1400 betting shops throughout the UK.
19. 19
Established 2017
Dual Sportsbook & Casino Platform
10% Cashback on Sports Betting Losses
'Wager Wars' Leaderboard & Cash Prizes
Bonus Code
The code required to claim this sign-up bonus (if any)
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
Cash Out
Can you cash out of bets before an event has finished?
Yes
Acca Insurance
Refund or free bet when one selection in an accumulator lets the bet down
No
Monster Casino Sportsbook is the new sports betting offering from this long established casino brand, with a small but select selection of sports to bet on.
20. 20
Established 2007
Sponsors of the BoyleSports Irish Grand National
£5 Free Acca for Every 5 Acca's Placed
Free Bet if Second to the SP Favourite
Bonus Code
The code required to claim this sign-up bonus (if any)
Live Streaming
Is there live streaming of sporting events?
Yes
In-Play Betting
The number of sports with in-play betting available
40
Bet Builder
Can you create your own personalised bets?
Yes
Cash Out
Can you cash out of bets before an event has finished?
Yes
Acca Insurance
Refund or free bet when one selection in an accumulator lets the bet down
Yes
BoyleSports are an independent Irish bookmaker who are shirt sponsors of Coventry City FC and Birmingham City FC and an official betting partner to Newcastle United FC and Wolverhampton Wanderers FC.
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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."

Interests
• Sports Betting Sites
• Odds Compiling
• Horse Racing

Reviewer since June 2016