There are lots of tips and strategies for bankroll management
Professional or amateur bettors find themselves in front of a massive challenge: Bankroll management. There’s are a bunch of strategies for doing this properly, but there are also small tools and tips that you can use. Imagine being in a team of professional punters, but one player is in the United States, one in Canada, one in the United Kingdom and one in China. You have to manage multiple things to speak the same language and compare the same metrics. What if one of you has a bankroll of USD $100,000.00 and the other has a bankroll of 20,000$ CAD? How do you compare to each other and place the same kind of bets and get the same kind of result? Enter in the betting units.
Betting units are a tool that are part of strategies, not a strategy itself
In fact, betting units are really simple and truly powerful. You just have to split your bankroll into units instead of dollars, and everybody speaks in units, no matter what the value of a given unit is. Generally speaking, a unit is 1% to 5% of the bankroll, depending on the betting strategy. This way, when someone makes a call, he can do it in units: “bet 0.5 units on the Patriots and 2 units on the Packers”. In the end, we can also compare the winnings in units: “The team is up 15 units this week. The team has an average of 8 units per week during the last 6 months”. This is an easy way, professional bettors avoid getting confused with currencies and bankroll volume.
Betting units are better illustrated with a real life example
Let’s dig deeper. Some strategies will require that the unit be 5% of the whole bankroll like one of the strategies we use. I am the Canadian one, so I have a bankroll of 20k$ CAD, meaning that one unit is 1000$ CAD. My friend is the American one with a bankroll of USD $100k, which means that he has a unit of USD $5000. We made the current (real) bets a couple of weeks ago
|Team||Units||Conversion for the Canadian||Conversion for the American|
|Auburn -36.5||2 units||2,000$ CAD||USD $10,000|
|Oklahoma -37||2 units||2,000$ CAD||USD $10,000|
|Texas Tech +7||1 unit||1,000$ CAD||USD $5,000|
|Georgia -21||1 unit||1,000$ CAD||USD $5,000|
|Arkansas +13.5||1 unit||1,000$ CAD||USD $5,000|
|Virginia +19||0.5 unit||500$ CAD||USD $2,500|
|Boston -6.5||3 units||3,000$ CAD||USD $15,000|
This way, it was easy for everyone on the team to place the bets. Our predictions were pretty good, like almost every time, so we finished the weekend up by 15 units. That means the American won USD $5000 * 15 units = 75000$ and the Canadian won 1000$ CAD * 15 units = 15000$ CAD.
You should bet in units
Every punter has the freedom to determine what is the value of a unit for him depending on multiple factors, including his wealth, his capacity to take risks and the strategy he wants to employ. The only goal is to speak the same language and have the same metrics.
Enjoy your gambling journey!