Bankroll Management: How to Bet Smarter

Why Bankroll Management Matters

The #1 reason bettors lose money isn't bad picks - it's poor bankroll management. You can have a 55% win rate and still go broke if you bet recklessly.

The Kelly Criterion

The Kelly Criterion is a mathematical formula that tells you exactly how much to bet based on your edge:

Kelly % = (Win Probability × Odds - 1) / (Odds - 1)

Practical Example:

Simpler Approach: Flat Betting

For beginners, we recommend flat betting:

The 5 Golden Rules

1. **Set a Budget:** Only bet money you can afford to lose

2. **Track Everything:** Use a journal (like Betbook!)

3. **Avoid Parlays:** Single bets have better long-term value

4. **Shop Lines:** Always compare odds across sportsbooks

5. **Stay Disciplined:** Stick to your system through wins and losses

Tools to Help

Betbook automatically:

[Try Betbook free →](https://betbook.app/auth/login)