One of the most important quality of a good sports gambler is bankroll management. Managing how much you wager per bet is essential in becoming a profitable sports better. Remember, no one wins every bet. A lot of gamblers can be very streaky. Understanding how to withstand the losses will be paramount in keeping you ready for the wins. In this lesson, you will learn how to use the unit system.
What is a Unit
The first thing every new gambler should do is establish what is called a “unit”. A unit is a set monetary amount that becomes the base line for the size of a typical bet. Everyone’s unit size will be different depending on financial situations. Units are a great way of tracking sports gamblers success, without having to distinguish how much they bet per game.
At Sharps Only, we recommend that you set your unit size to be no more than 5% of your total bankroll. So, if you have $100 on your account, a 1 unit bet would be $5. If 5% is more than you feel comfortable betting, scale back to an amount that you feel more comfortable risking. Once established, your unit size should not change. That does not mean that you only should bet 1 unit each time. There will be some bets that you like more than others. If it’s a bet that you feel very confident in, maybe you bet 2 units. Although it may be enticing, we recommend that you never bet more than 3 units. A 3 unit bet could be 15% of your total bankroll. This is a large chunk to lose in just one game. So, 3 unit bets should only be bets you feel very confident in. You don’t want to consistently wipe out all of your 1 unit bet winners with 3 unit bets that lose. No matter how confident you feel in a bet, there are still factors that are out of your control. I will do an example with the win percentage the Sharps Only Crew aims for.
Example of Proper Bankroll Management
Let’s say you open an account with a sports book and deposit $1,000 onto your account. If you follow the 5% rule, your unit size will be $50. I am going to use an 100 bet sample size to show what your return would be if you tail the Sharps Only Crew and hit at our historical win percentages.
If you were to win at these sample percentages, you would have a little under a 100% ROI every 100 bets. The only way this system works, is if you have a system for when a play is 3u vs 2u vs 1u. If you get undisciplined and wager too many 3u plays, this will lower your win % and diminish your returns significantly. As you continue to win, your unit size should continue to rise. So after 100 bets, your account should be at $1,982. Your unit size should now be $97.
When to Take Profit
Your next question is probably when should i take profits. It is very important to take profit from time to time. We have to pay ourselves for all the time we put in and we have to protect our capital (original investment). What percentage and when you pull is up to your personal financial situation, but i advise a minimum of at least 5% for every 5 units you go up. If you’re in a situation where you can afford to let the money ride, this will allow the chance for a greater return as your unit size continues to rise. Like i mentioned before, gambling can be very streaky. It is important to pick a strategy and stick to it. This will prevent greed during the hot streaks, and fear during the cold streaks.
A lot of gamblers fall into the trap of what we call “chasing”. This is when you lose a couple of bets in a row, and try to make up for the losses by betting more than you typically would to try and recoup the losses. This is never a good idea. Typically, this just results in you digging yourself into a bigger hole. The only thing that should determine how much you bet, is how confident you feel in the bet. Always stay true to your personal unit system.
Finally, never deposit more money into your account than you can afford to lose. We don’t unit shame at Sharps Only and believe you should only bet what you can truly afford. We say this often, but sports gambling is hard. Truthfully, most sports betters lose money. But, that’s why we are here and what we are aiming to fix.
Now that we know how to bet, and how much to bet, let’s move on to lesson 2 where you will learn the truth about betting parlays