Money is an essential factor for esports bettors. Esports betting is not possible if there is not enough money to bet and wager on your bets. The fantasy is built around spot betting where gamblers think they can become rich off esports betting in many cases will end up in losses for the betters.
The new esports gamblers come into esports betting without proper bankroll management systems and end up losing their bankroll even when wagering at the best online casino. At this point, most of them will quit and say esports betting is a scam. To make decent money from esports betting, you need to have a reliable way of managing your bankroll.
What Is the Bankroll?
A bankroll is the amount of money you are willing to spend on betting. It is cash that you would not have a problem losing in esports betting or any gambling activity. To know you have successful betting, you should have a constant increase in your bankroll over time.
Bankroll Management Strategies
To have success when using a bankroll management system, you should have ground rules. The set rules should be strictly observed to ensure you optimize the management system. Avoid chasing losses is one of the hardest rules gamblers face when managing their bankroll.
Fixed Unit Model
In this strategy, you only bet with your set amount that you feel comfortable in different bets. The amount depends on the size of your bankroll to ensure that you don’t spend all your bankroll.
The recommended fixed amount for spot betting is 1% of your bankroll. If you have $1000, you would be betting with $10. If you wager this amount across 5 units of the game, you would have wagered a total of $50.
In this strategy, you need the discipline to wager the fixed unit size no matter the odds. Your amount will always remain the same without worrying about the other variables, such as your perceived confidence or your recent win/loss streak.
This strategy is good as it helps the gambler track the wins and losses. This bankroll management system is profitable if you gate around 55% of your Betts as wins. Since most betters use bankrolls of different sizes, it is advised to use a unit you are comfortable with.
Percentage Model
In this betting strategy, you bet with amounts as a percentage of your bankroll. The difference between this betting system and the fixed amount system is that changes in the bankroll affect the amount you wager on your betters.
Having a bankroll of $2000 and betting with a 2% percentage on every game means that you would use $40 on your first bet. Your bankroll can go up once you win the bet, such as $2080. You would need to use $41.6 to ensure you stick to the set percentage in your next bet.
This betting strategy is good as it ensures that you win more during your winning streaks. This strategy makes it harder to break away from the losses encountered during the losing streak.
Odds to Control Your Bankroll
This strategy is a mix of the Percentage system and considering the odds. The betters have freedom and flexibility when choosing the amount of wager on each team.
In this bankroll management system, a spot better used an amount raging in units of percentage. The units or percent change with the change in odds and feeling on how the games can turn out. The betters need to stay disciplined to avoid chasing losses and hence betting higher.
In a betting system, the spot better can wager three different. The better can use different wagering amounts across the three bets. The more confident games are wagered more than the less secure games.
The flexibility helps increase your winnings and reduce the amount lost on the bets. If not well implemented, this strategy will see you lose all your bankroll. The flexibility in the system should be well implemented to ensure that you have minimum losses.
The Kelly Criterion
This bankroll management system was created by a brilliant mathematician John Kelly. This bankroll helps the spots better consider the many variables in esports betting. The value of odds in a spot game can control the odds.
John Kelly came up with a formula to ensure that esports bettors make more profit from their betting. The formula is: (Percentage Probability x Decimal Odds) – 100% = Value. The consistency of the outcome helps spot betters make better use of their bankroll.
The key to ensuring your bankroll does not deplete is being disciplined and sticking to your betting strategies. Self-control provides that you only bet with the amount you have specified consistently. The bankroll strategies are not proof of losses, and you should pick a tragedy that works for you.