Bankroll Management Basics
What a bankroll is, why you should separate it from everyday money, and the simple rules that keep you in the game through downswings.
Your bankroll is the money you've set aside specifically for betting - separate from rent, bills, and savings. Managing it well is what lets a real edge survive the inevitable losing streaks. More bettors go broke from poor bankroll management than from bad picks.
The core rules
- Only bet money you can afford to lose. Your bankroll should never include money you need for anything else.
- Bet a small, consistent fraction per wager - commonly 1-3% of your bankroll (one "unit").
- Never chase losses. Increasing stakes to recover a loss is how bankrolls die.
- Don't increase your unit after wins or shrink it after losses based on emotion. Adjust only as your total bankroll grows or shrinks.
Why small stakes matter
Even a strong bettor endures long losing stretches. If you bet 20% of your bankroll per game, a normal cold streak can wipe you out before your edge ever pays off. Betting 1-2% means you can absorb dozens of losses in a row and still be standing when variance turns.
Flat betting vs percentage betting
Flat betting stakes the same dollar amount every time. Percentage betting stakes a fixed percentage of your current bankroll, so bets grow as you win and shrink as you lose. Beginners do well with flat or fixed-unit betting; more advanced bettors use fractional Kelly.
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