10 Bankroll Management Rules for Serious Bettors
1. Never bet more than 5% of your bankroll - This golden rule protects you from devastating losses and ensures longevity in betting.
2. Set daily, weekly, and monthly limits - Discipline separates winning bettors from casual gamblers who chase losses.
3. Track every single bet - Document wins, losses, bet types, and reasoning to identify patterns and improve your strategy.
4. Use the Kelly Criterion for bet sizing - This mathematical formula helps determine optimal bet amounts based on your edge and odds.
5. Separate your betting bankroll from personal finances - Never bet money you can't afford to lose, including rent, bills, or emergency funds.