The goal of every sports bettor is to build sports betting bankroll, but most gamblers don’t have a sports betting bankroll, but a budget.
But, a sports betting bankroll and a budget are important parts of every sports bettor’s journey and his betting money management. The key difference is that we start with a budget when we take money for sports betting activities from our income streams (salary for example). But once we make a profit with betting on sports and stop taking money for gambling activities from our regular incomes, then we can start talking about sports betting bankrolls.
Sports betting bankroll that is in fact not a bankroll
A sports bettor will say:
”Every weekend I take $200-$300 and this is my bankroll. I bet $50 per game and that’s it. And then the next weekend I do the same.”
This is not a sports betting bankroll by our definition. He is basically taking money from his monthly income stream and betting what he has in his pocket. If he loses that money, he takes more. In many cases, such behavior is very dangerous and leads to gambling addictions and serious problems in life.
Sports Betting Budget
Most sports gamblers, who want to take sports betting seriously, are on a budget and in one of these three categories:
- First group of sports gamblers will fund their gambling activities from their monthly income stream and they will spend more than they can afford. They will rather gamble than pay monthly bills, or even food.
- The second group are sports gamblers who will still take money from their income stream every month, but they are smart enough to understand how much they can take. They will bet only the money they can lose, without any serious consequences.
- And there is a third group of very few that work on building a sports betting bankroll. Your betting fund only becomes a sports betting bankroll when you stop taking money from your income stream and you take out all of the money you took previously when you were on a budget.
The goal of every successful sports bettor, who starts betting is to be in the third group and when this happens we can start talking about sports betting bankroll.
Why working on your bankroll is so important?
Betting bankroll is something, that you can lock for some time and it doesn’t affect critically on your financial situation.
Betting bankroll is something, that you don’t need critically for a living.
Betting bankroll is something that you can risk and at the same time, you have realistic expectations that it can be bigger.
Mindset and final thoughts
When you know that you risk money that you can lose without any serious consequences, you can be more relaxed, you will not find yourself in a “must-win” position and you can even survive a negative season which will not be a disaster. Some smart professional sports bettors have a couple of bankrolls and they have money on the side if something bad happens.
The question is are you still on a budget, do you work on a bankroll, or do you use true sports betting bankroll as part of your betting strategy.