Bankroll management e-sports betting
Most people believe any kind of betting is rocket science. Well, we’ve here to tell you otherwise. This article focuses on the newest phenomenon to hit the betting world, Esports. It’s a known fact that bets have a 50/50 chance of winning, but within the esports gaming arena, there is always that element of surprise. There are roster changes weekly, patch/meta changes which teams have to adapt and so on, so it’s important not to just splash cash on games you have that just ”feel good” bets.
What kind of player are you?
Any better should ask themselves this question because some punters bet purely for entertainment and to make the games they follow more interesting and exciting. We all have friends who just bets for fun, $10 here, $20 there and they are the ones who usually end up disappointed.
However, if you’re serious about cashing in and making some real money, you have to look at and treat your wagers as investments. Your bankroll is like your company’s inventory and when you identify a good line in a game, you’ll spot a good opportunity to invest.
Setting your Starting Budget
This one is strictly for beginners in betting who have absolutely zero experience when it comes to wagering. The smartest thing which they can do when they are betting for the first time is to set themselves a starting budget which they will be prepared to lose. The likelihood of this happening is very big, and not thinking or worrying about the money being lost will greatly help new players when they are learning how sports betting is done.
Allocating a Betting Budget
This is the starting point of your betting endeavor. It is crucial that you don’t skip this step, as everything else which we are going to write about, depends on having a fixed amount of money in your betting budget. When we say fixed, we mean it in a relative way, as this amount may rise or fall in time depending on the variations of your monthly budget which you also use to pay the bills and buy groceries with.
This means that if you have a monthly living expenses budget of $1000 and you spend $800 by the end of the month, you can automatically work with the remaining $200. You may put $100 in a savings account and use the other hundred as your monthly betting budget. It is really important that your betting budget doesn’t interfere with your living expenses budget since this is the root of all betting related problems.
Have a Staking Plan
After you have allocated a monthly betting budget you are ready to start placing your wagers. However, this is when another important step in bankroll management should be implemented into your betting routine. It is called a staking plan.
A staking plan is the amount of money which you are going to deposit when you are making a wager. This amount of money can be fixed or variable depending on how you organize your budget. The important thing here is that you should never exceed your monthly betting budget. If you see that you have emptied your budget, you should stop and wait for the next month to come. It is as simple as that.
So how do cash in?
All players have the urge to take that big risk in search of a big payout and it is important to have rules about your bankroll and stick to them. It is equally important to think about your maximum bet size and total gambling budget. There is a proverb in Finnish ”jokainen pelaa niin kuin oma perse kestää”, which literally means translated word-to-word”everyone gambles as large as their own ass can handle”. So if you lose, you must handle it.
Safeguarding your Bet
This technique is not related to your staking plans, but is closely related to maintaining a stable bankroll. This is because when you are safeguarding your bet you are actually wagering money on the opposite outcome of your original betting slip in order to ensure that you win, even if those winnings will be much smaller. Let’s illustrate this with a simple example. Let’s imagine that you have a betting slip in which you have accumulated 5 matches and 4 of them have finished with your desired result. The potential winnings from the ticket are $100 and you have put $10 as an initial stake.
Since the last match starts a little later than the other matches, you have a chance to stake some money on the opposite outcome of that match and to safeguard your bet. The odds for the opposite outcome on that match are 3.00, so you have decided to place a $30 stake on that outcome. With this adjustment in the bet, if your original betting slip is a winning one, you are bound to make a profit of $60 ($100 winnings – $10 initial stake – $30 safeguarding stake). If, on the other hand, the opposite outcome occurs you will be entitled to a profit of $50 ($90 winnings – $10 initial stake – $30 safeguarding stake).
Having a decent bankroll management plan and sticking to it will greatly help any punter. The most important thing which should be remembered is that you should always allocate a betting budget which doesn’t interfere with your living expenses budget. In addition, you should always stay within the limits of your betting budget and never exceed them no matter how tempted you might feel.
Finally, you should put in place a firm staking plan to which you are always going to adhere to. Fixed staking plans are much simpler and are better if you are not a full time betting aficionado, whereas variable betting plans are better for betting professionals who look at betting as a full time job.