10 Bankroll Management Rules for Smart Bettors
1. Never bet more than 5% of your bankroll on a single wager - This protects you from devastating losses during cold streaks.
2. Set a dedicated betting budget - Only use money you can afford to lose completely.
3. Track every bet - Record wins, losses, and betting patterns to identify strengths and weaknesses.
4. Use unit sizing - Standardize your bet amounts based on confidence levels (1-3 units).
5. Avoid chasing losses - Never increase bet sizes to recover previous losses quickly.