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

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
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Yes
Our Rating
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98
Bet Builder
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Yes
Cash Out
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Yes
Acca Insurance
Refund or free bet when one selection in an accumulator lets the bet down
Yes
Bet UK has former footballers Teddy Sheringham and Adebayo Akinfenwa, plus former jockey Peter Scudamore as brand ambassadors and UK betting experts.
2. 2
Established 1999
Primary Shirt Sponsor of Burnley FC
Football First Goalscorer Insurance
Horse Racing '2nd to a Rag' Insurance
Bonus Code
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Live Streaming
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Yes
Our Rating
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98
Bet Builder
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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 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 bettors can place bets without having to first deposit funds.
3. 3
Established 2020
Dual Sports Betting & Casino Platform
Huge Array of Esports Betting Options
Accumulator Boosts of up to 77%
Bonus Code
The code required to claim this sign-up bonus (if any)
Live Streaming
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No
Our Rating
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98
Bet Builder
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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
HeySpin is an online betting site that offers both sports betting and online casino games. Their impressive UK betting platform is home to a huge range of markets, with in-play betting and cash-out options.
4. 4
Established 2022
Live Betting & Cash-Out Options
Politics & Novelty Betting Coverage
‘Boost Up’ Accumulator Boosts
Bonus Code
The code required to claim this sign-up bonus (if any)
Live Streaming
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No
Our Rating
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98
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No
Cash Out
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Yes
Acca Insurance
Refund or free bet when one selection in an accumulator lets the bet down
No
Luckster Sport is a new sports betting site with a vaguely Irish theme. Football and horse racing betting are the big highlights here, with plenty of Esports, politics and novelty markets to choose from as well.
5. 5
Established 1929
UK's Top Horse Racing Pool Betting Bookie
Home of the Placepot & Exclusive Placepot App
Never Beaten by SP on Horse Racing with Tote+
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Yes
Our Rating
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97
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No
Cash Out
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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 six nominated races on a single day).
6. 6
Established 1946
Choice Between Two Welcome Offers
BV Loyalty Club - Weekly £5 Free Bet
Free to Play 'Pick 6' Predictor Game
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Yes
Our Rating
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95
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Yes
Cash Out
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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 boasts superstar jockey Rachael Blackmore and football legend Harry Redknapp amongst its brand ambassadors. Weekly free bets and a choice of sign up offers are standout features here.
7. 7
Established 2022
Long-Established Independent Bookmaker
Unique Horse Racing Free Bet Refunds
Racing Ambassadors Hayley Turner & Tom Cannon
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No
Our Rating
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95
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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
BetGoodwin is the new online betting site from the independently-owned Goodwin Racing telephone betting service. This bookmaker offers a great variety of horse racing specials as well as 30 other sports betting markets.
8. 8
Established 2005
Official UK Betting Partner of Fulham FC
Golf Fantasy Game With £5k Prize Fund
'Racing Sportsbook of the Year' 2020
Bonus Code
The code required to claim this sign-up bonus (if any)
Live Streaming
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No
Our Rating
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92
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 has offered a boutique bookmaker service to members of the exclusive Mayfair Club (The Fitzdares Club) since 1882, but has now launched an online betting site open to all.
9. 9
Established 2012
Distinguishing ‘British’ Branding
10% Next Day Cashback on Losing Bets
Dual Online Betting & Casino Platform
Bonus Code
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Live Streaming
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No
Our Rating
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97
Bet Builder
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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
All British Sports is a new addition to the All British Casino platform and uniquely offers 10% cashback on all your lost deposits via the 'Cashback' page, with no strings attached.
10. 10
Established 2001
'Online Sports Betting Operator of the Year' 2023
Live Streaming of Thousands of Events
2 Goals Ahead Early Payout Offer
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Yes
Our Rating
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96
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Yes
Cash Out
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Yes
Acca Insurance
Refund or free bet when one selection in an accumulator lets the bet down
No
bet365 offers a comprehensive betting service, including live streaming of a huge range of sports, plus a unique 'Edit Bet' in-play option. This bookmaker won the award for 'Online Sports Betting Operator of the Year' at the 2023 Global Gaming Awards in London.
11. 11
Established 2015
Random Supercharged Payouts
Weekly ‘kwiff Club’ Cashback & Free Bets
‘Acca Shield’ Refund (if One Leg Fails)
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Yes
Our Rating
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95
Bet Builder
Can you create your own personalised bets?
No
Cash Out
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Yes
Acca Insurance
Refund or free bet when one selection in an accumulator lets the bet down
Yes
When you place a bet with this bookmaker, your bet may be “kwiffed” - meaning the Kwiff betting site gives you random enhanced odds as a surprise after you've placed your bet.
12. 12
Established 1997
Free 'Up For 8' Football Prediction Game
Live Streaming of all UK & Irish Racing
'Acca Club' With Loyalty Free Bets
Bonus Code
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Live Streaming
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Yes
Our Rating
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88
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 offers a wide range of sports betting markets, combined with regular enhanced specials and an exclusive 'Acca Club' (bet £20 on Multiples or Bet Builder to get a £5 free bet - every week).
13. 13
Established 2022
Dual Bet Site & Casino Platform
Free Bet Thursdays - Earn Free Bets Every Week
Accumulator Boosts of up to 77%
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Live Streaming
Is there live streaming of sporting events?
No
Our Rating
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97
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
Bzeebet is a fresh new betting site, but already offers everything we expect from the best online bookmakers, including features such as live betting, cash out, bet builder and accumulator boosts.
14. 14
Established 2002
Free Tickets & Perks With 'Coral Racing Club'
Football & Racing 'Super Series' Predictor Games
'Beaten by a Length' Free Bets
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Live Streaming
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Yes
Our Rating
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85
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
Coral has been a fixture of the UK betting scene for nearly 100 years. This respected bookie is home to prediction games for racing and football with big cash prizes - and the 'Coral Racing Club' gives punters the chance to win tickets and meet trainers.
15. 15
Established 2022
Customisable Betting Homepage
'Zet Boost' Accumulator Boosts
Odds Boost Section With Daily Enhancements
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Live Streaming
Is there live streaming of sporting events?
No
Our Rating
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82
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
ZetBet is a new UK betting site with a user-friendly layout that enables you to find your bet quickly and easily. Daily price boosts and acca enhancements help bettors to find extra value with this bookmaker.
16. 16
Established 2017
£20 Free Bets Available Every Monday
10% Cashback on Sports Betting Losses
'Wager Wars' Leaderboard & Cash Prizes
Bonus Code
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Live Streaming
Is there live streaming of sporting events?
No
Our Rating
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94
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 site from this well-known casino brand. Monster has a healthy welcome offer, £20 free bets every Monday and 10% cashback on losses.
17. 17
Established 2007
Sponsors of the BoyleSports Irish Grand National
£5 Free Acca for Every 5 Accas Placed
Free Bet if Second to the SP Favourite
Bonus Code
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Live Streaming
Is there live streaming of sporting events?
Yes
Our Rating
Gambling.com's rating of this betting site out of 100
91
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 is an independent Irish bookmaker which sponsors Coventry City FC and Birmingham City FC and is an official betting partner to Newcastle United FC and Wolverhampton Wanderers FC.
18. 18
Established 2016
Official Betting Partner of Inter Milan & Man City
Profit Boosts For Bets on Sponsored Teams
'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?
Yes
Our Rating
Gambling.com's rating of this betting site out of 100
93
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
LeoVegas Sport is the online betting offering from a well-known casino brand that has upped its sports betting game recently through its sponsorships of Inter Milan and Manchester City - and its unique profit boost specials for both teams.
19. 19
Established 2020
'Rising Star Operator of the Year' 2021
'Fast Market' In-Play Betting Feature
‘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
Our Rating
Gambling.com's rating of this betting site out of 100
84
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 has ex-Liverpool striker and Champions League winner Djibril Cissé as a brand ambassador and resident football expert. This bookie has become known for unique live betting markets, boosts and personalised offers.
20. 20
Established 2003
Regular Free Bets & Enhanced Odds Specials
Great Range of Virtual 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
Our Rating
Gambling.com's rating of this betting site out of 100
94
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
10bet is one of the most user-friendly betting sites UK bettors can find, with an award-winning design, unique daily promotions and a thriving virtual betting section.
21. 21
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
Our Rating
Gambling.com's rating of this betting site out of 100
85
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.
22. 22
Established 2007
Unique Double Odds Welcome Offer
'Grosvenor Goals' Free Prediction Game (£10k prize)
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
Our Rating
Gambling.com's rating of this betting site out of 100
90
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 bet site of Grosvenor Casinos - the UK's largest casino operator with over 50 land-based casinos. The sports betting site has a free goals prediction game with a £10k prize, weekly free bets and best odds guaranteed on racing.
23. 23
Established 2001
Create Your Own Bet Builder with 'BetMaker'
Enhanced Odds Every Week with 'BetPlus'
Live Streaming of International Horse Racing
Bonus Code
The code required to claim this sign-up bonus (if any)
Live Streaming
Is there live streaming of sporting events?
No
Our Rating
Gambling.com's rating of this betting site out of 100
88
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
A well-known betting site in Europe that's growing fast in the UK, NetBet offers unique features such as 'SnapBet' - where mobile users can bet on a goal being scored in the next 30 secs, 1 min, 5 mins or 10 mins of live football matches.
24. 24
Established 2022
Dual Online Betting & Casino Platform
Regular Odds Boosts & Cash-Out Offers
Variety of Esports Betting Markets
Bonus Code
The code required to claim this sign-up bonus (if any)
Live Streaming
Is there live streaming of sporting events?
Yes
Our Rating
Gambling.com's rating of this betting site out of 100
89
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
Vegasland Sport is the betting site which supplements this Vegas-themed casino, with betting markets on thousands of global sporting events.
25. 25
Established 2000
'Fanzone' - Betting Offers For Your Favourite Team
#GetAPrice - Create Your Own Bet
Free Football Score Prediction Game
Bonus Code
The code required to claim this sign-up bonus (if any)
Live Streaming
Is there live streaming of sporting events?
Yes
Our Rating
Gambling.com's rating of this betting site out of 100
88
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
Ladbrokes is one of the world’s leading betting companies with a heritage dating back to 1886 and betting shops across the UK and Ireland. This online bookmaker was named 'Football Sportsbook of the Year' in 2021.
26. 26
Established 1997
Global Betting Company With 12 Million Customers
Racing 'Uniboost' - 3x Daily Odds Boosts
Bonus Code
The code required to claim this sign-up bonus (if any)
Live Streaming
Is there live streaming of sporting events?
Yes
Our Rating
Gambling.com's rating of this betting site out of 100
90
Bet Builder
Can you create your own personalised bets?
Yes
Cash Out
Can you cash out of bets before an event has finished?
Yes