Sports Betting: Tips for Bankrolls and Parlays

Sports Betting: Tips for Bankrolls and Parlays Image

"Bankroll" and "parlay" are some of the most common terms within the sports betting community. As they are used predominately, every punter should know how they work to have brighter results in your future bets.

We'll explain how bankrolls work and give you some tips regarding its management for today's article. Later, we'll explain everything you need to know about parlays. As both concepts are not as extensive and complicated as one may think, it's easy to teach them simultaneously.

What is a “Bankroll”?

Bankroll is a term used to refer to the funds you use for betting. It can be any particular sum, either $100 or $1000, for example. Most successful sports bettors know that one of the keys to ensuring a successful future in the niche is to have a suitable bankroll management method.

Bankroll management is as crucial as deciding the teams you'll place wagers on, of course. However, one of the most common mistakes beginners and even advanced bettors commit is to bet recklessly.

You can become invested in a game quickly, which makes you more likely to bet on it. Otherwise, you won't bet and will very likely leave the game. Sometimes, when you feel confident about your current winning spree, you will increase your wagers. However, when you're cold, things may not be as favorable.

These actions are not investable at all – it is one of the fastest ways of going bankrupt quickly. However, you can easily avoid this.

How you can do that, you may be wondering. Most people, especially professional punters, prefer going for a “flat-betting” approach.

About flat-betting

Although flat-betting is not a standard term within the community, it is not an unusual practice. It refers to betting a particular percentage of your bankroll on every game you decide to place wagers. Therefore, you will only risk a small percentage and will be able to maintain your current funds for more time.

It is often recommended to go for one to five percent, but three percent is a standard medium.

Let’s say you only have one-hundred dollars available for your bankroll at the moment. Taking the previous percentage, you’ll risk only $3 on your bets. The same principle would apply if you had one-thousand dollars, but you would risk $30 on your bets. Therefore, your “unit size” would be either $3 or $30.

It is crucial to be consistent with your unit size if you want to have a bright future in sports gambling. It will help you overcome bat times and manage your incomes better during the ups. Still, if you're currently losing frequently, using a flat-betting approach will prevent you from going bankrupt quickly. On the other hand, if you're winning, you will be granted a positive Return on Investment (ROI).

Flat betting also means you will invest in individual games and not in parlays.

A parlay is another standard practice in the sports betting niche, and it consists of making multiple bets –or a minimum of two- then conjoining them into the same wager. If you happen to lose any bets, you will lose the whole parlay. Otherwise, you'll be granted a significant profit.

For instance, let’s say you place $100 on a parlay with three teams: Team 1 +150, Team 2 +100, and Team 3 +203. If all the selected teams win, you will earn $1,515.

The high profit is one of the most tempting factors about parlays. However, they are not appropriate as a strategy in the long term. Sportsbook often advertises parlays so that public bettors can be "baited," but the truth is that the possibilities of you winning the parlays are not as high as you think.

According to a study, sportsbooks earned about thirty-percent hold only on parlays. "Hold" refers to the percentage that the bookmaker earns when the bets are placed and paid out ultimately. So, parlays are often advertised as "excellent" because sportsbooks make a lot of money out of them.

Flat-betting is a discipline, and although parlays can be hugely attractive, they are riskier than profitable. Although this betting method won’t provide you a massive earning in the long term, it will help you keep your feet on the ground during your journey.