The goal of gambling is to win and make a profit, including sports betting. There are several strategies and methods to use when punting on sports. Each method has its fair share of risks and advantages. Whatever way you choose to gamble, there's one specific thing: you need to have a bankroll. You have to wager something to be able to win in all cases. However, how much money do you actually need to win at sports betting?
We're going to go over what you need to know about your bankroll, how much you should have in it and how to use it to win!
As a disclaimer, we don’t promise that you’ll make a profit with our tips. We only can say that these will improve your chances of making a profit.
What is a huge bankroll?
A high bankroll can be anywhere from £/$/€50,000, as high up as the millions. Those who have this type of bankroll didn't start there. They're professional sports bettors, whose primary source of income is derived from sports betting.
You can still win a good amount of money, with only a few hundred or a thousand in your bankroll. Once you start making a profit, then you can increase your bankroll. In time, you'll have a bigger pot to gamble with.
What it comes down to is how much money you want to make each week or month. You should also keep in mind how much money you're willing to lose each week or month. This correlates because the more money you can place on a bet, the more you'll get in return when you win and how much you can lose.
To make money in football betting or in other sport, you only need to win at sports betting 52% to 55% of the time. We recommend placing no more than 3% of your total bankroll on wagers. Many people do 1% of their bankroll and can still make a profit.
How do I use these strategies?
There are many sports betting strategies when it comes to win from bookmakers. One of the most important is bankroll management. All successful sports punters have this discipline down pat and don't let emotions get in the way. To professional gamblers, this is business and not an addiction.
Bankroll management can be broken down in several stages. First, you want to set a budget for yourself. Then, you should make a betting goal based on your budget and how much you want to wager to get there. The next rule is to stick to the rules that you set for yourself and know when to walk away.
After you're confident that you have understood bankroll management, then you can choose how you want to gamble. The gambling strategies that are low risk are matched betting and arbitrage betting. These will consistently give you the most profit if done correctly.
Both of them require a sportsbook and a betting exchange. You'll place a bet on all of the game outcomes, so you'll still make a profit, regardless of who wins or loses. There are some maths required, or you can use a profit accumulator.
It's completely legal, and you can do it with either a small or large bankroll.
Is a Big or Small Bankroll Better? Why?
This all depends on a few things; these include how much you want to make from gambling, how fast you want to make it and how much freedom you want with betting.
If your wish is to make thousands upon thousands with sports gambling, then a big bankroll is much better for you. You'll be able to wager more, which results in more significant profits when you win at sports betting. If you're just looking to make a little bit of money on your enjoyment of sports betting as a hobby, then a small bankroll is sufficient.
It's possible to make £/$/€5,000 with sports gambling using any method you want. However, do you want to make that in a month or five years? If you're going to make money fast on punting, then you'll need a large account balance. If you don't care how quickly the cash flows in, then having a small bankroll can still generate profit.
When you have a bigger bankroll, you'll have a lot more freedom for wagering. This will allow you to experiment with different strategies. For example, if you have £/$/€10,000 in your account and lose £/$/€100, it's only a 1% loss, and you'll probably recover from it.
If you only have £/$/€1,000 and lose £/$/€100, then that's a 10% loss. This will be harder to get back and is a more significant loss, although it's the exact same amount.
Advantages and Disadvantages
A significant advantage of having a huge bankroll is that you can win more money quickly. When you lose, it also won't hurt as bad as a smaller one. However, many people don't have an extra £/$/€100,000 or more to gamble with.
If you're committed to making sports gambling your full-time income, then you'll need to put in a lot of time and effort. You have to start somewhere and continue building without getting too greedy. It's important to know when to stop and never chase losses.
A disadvantage is that when you wager more, you also can lose more. Although there are strategies that are low risk, and almost always guarantee a profit, you have to be an expert at them.
One wrong wager can ruin your strategy, which can result in a considerable loss. This can result in trying to make it up by wagering more the next time. Doing this has the possibility of gambling becoming a problem.
Remember, sports betting for profit is no longer gambling; it's a process of understanding and using strategies to make a profit. You have to separate emotions when doing this for an income.
The Bottom Line
Overall, the answer to the question is no, you don't need a huge bankroll to make a profit, but it sure helps. A profit can be anywhere from £/$/€1 up to a million, and it just depends on your definition.
If you want to make a big profit, or at least enough to serve as an income, then you'll need a huge bankroll if you're going to become rich. The wealthiest sports punters wager millions every single week.
Our recommendation is to start by depositing an amount that you'd feel comfortable losing. Then, implement low-risk strategies to make a profit hopefully. Once you've got a good system down that's been working for a few months, not just once, you can deposit more and increase your bankroll.
Over a year or two, you can start making some good income with sports betting without even adding any more of your own money, just using profit.