Matched betting is a popular form of online gambling that involves using free bets and bonuses offered by bookmakers to lock in potential profit. While it could be a highly profitable strategy, it’s also important to manage your bankroll effectively to minimise your risk of losing your entire betting funds. In this article, we’ll explore the importance of bankroll management in matched betting and provide practical tips for managing your funds effectively. You can look at other entries in the Matched Betting blog if this article is not the information you are looking for.
What is Bankroll Management?
Bankroll management is important in matched betting for several reasons. First and foremost, it helps to minimise your risk of losing your entire bankroll on a single bet. Since matched betting involves placing bets on both sides of a match, it’s important to have enough funds to cover both bets and ensure that you don’t lose your entire bankroll in the process.
Additionally, effective bankroll management can help you to maximise your long-term profitability by minimising your risk of losing money on individual bets. By setting aside a separate bankroll for matched betting and using a small percentage of that bankroll on each bet, you can ensure that you have enough funds to cover your losses and maximise your potential profits over time.
Keeping Records: Why do it?
Keeping a record of your betting activity is an important part of effective bankroll management. This allows you to track your wins and losses, as well as your overall profitability, so you can adjust your strategy as needed. Be sure to record the date, bet type, stake, odds, outcome, and profit or loss for each bet you make. This will make it much easier down the line to find out where your money is, which offers you used, and all the other bits that need tracking to be a successful matched bettor.
Determining Stake Sizes
When it comes to matched betting, it’s important to determine your bet size based on your bankroll and the odds of the bet. As a general rule, it’s recommended that you bet no more than 5% of your bankroll on any given bet. If you are struggling to do the maths yourself, or just simply want the process to be more efficient, you can use our matched betting calculator to do the mathematics for you. This makes the process much easier, regardless of if you are betting normally or matched betting or your favourite sports.
Discipline and Patience in Matched Betting
Effective bankroll management requires patience and discipline. It’s important to stick to your betting strategy and not to chase losses by placing bigger bets than you can afford. By staying disciplined and patient, you can potentially build your bankroll over time and increase your long-term profitability. Within matched betting, there is no reason why you could not spend multiple hours learning and multiple hours executing offers, but it is not recommended to spend excessive time doing so – rather, use it as a side hustle, to supplement your income.
Matched Betting Bankroll Management Strategies
In conclusion, effective bankroll management is a crucial aspect of matched betting. By setting aside a separate bankroll, keeping a record of your betting activity, determining your bet size based on your bankroll and the odds of the bet, being patient and disciplined, and considering bankroll management strategies, you can minimise your risk of losing your entire bankroll while maximising your potential for long-term profitability. So, start practising effective bankroll management today and increase your chances of success in matched betting!
What is Matched Betting?
This section will briefly answer the question of “What is Matched Betting?”, but you can read the linked piece if you want more detailed information.
If you have been placing sports bets for some time, you have probably had your fair share of losses in comparison to your wins. If this is accurate, then you may also be sick of relying on luck when placing your bets. Matched betting allows you to place bets that have no luck involved, by covering both sides of the bet and actually securing a specific amount of profit before the bet has even been confirmed as a winner. You can use our Oddsmatcher tool to find the best odds for the Back side of your selection. You place both a Back bet (the selection to win), and a Lay bet (the selection to lose or draw). This means all outcomes are covered and there is no statistical way your bet cannot win.
Matched betting with OddsMonkey has been made incredibly simple, with all of the bonus offers and tools compiled in one place, ready for you to get started at any time. You can use the various betting odds calculators to find out how much to place on your bets, or you can watch our tutorial videos about how to matched bet.