STAY IN THE GAME
Bankroll Management
The best handicapper in the world goes broke without it. How much you bet matters more than what you bet on - here's how to size every play so the swings can't bury you.
WHY IT MATTERS
Variance Is Brutal - Plan For It
Even a winningbettor hits losing streaks of 6, 8, 10 bets in a row. It's not a question of if but when. Bankroll management is what keeps a normal cold spell from becoming a wipeout - the difference between a rough week and the end of your roll is entirely about bet size. Bet 10% a play and a 7-bet skid guts you. Bet 1–2% and you barely feel it.
THE FOUNDATION
The Unit System
A unit is a fixed slice of your bankroll - usually 1–2% - and you measure every bet in units instead of dollars. It strips emotion out of sizing, makes your results comparable over time, and reduces the risk that one bad night wipes out the bankroll. Set your roll and unit size below to see your numbers.
Unit Size Calculator
Set your bankroll and unit size, then bet in units - not dollars - to stay consistent through the swings.
At 1% per unit, even a brutal 10-bet losing streak only dents your roll by about 10% - survivable. Bet 10% a pop and that same streak wipes you out. Small units are how you live to bet another week.
Why units, not dollars?
Saying “I'm on the Chiefs for 2 units” means the same thing whether your roll is $500 or $50,000 - the discipline travels with you.
It also keeps you honest. When sizing is a fixed percentage, you physically can'tmake the panicked 10-unit revenge bet. The system holds the line so you don't have to rely on willpower at the worst possible moment.
Rule of thumb: 1u standard, cap your biggest play at 3u, and let confidence - not desperation - decide where in that range you land.
SIZING TO YOUR EDGE
The Kelly Criterion
Flat unit sizing is great. Kelly goes one step further: it sizes each bet to the edgeyou have on it, betting more when you're sharper and less when you're thinner - the fraction that mathematically maximizes long-term growth. The formula is simply f = (bp − q) / b - your edge divided by the odds.
Kelly Criterion Bet Sizer
Plug in your bankroll, the price, and your honest win estimate to size the bet for long-term growth.
Most pros bet Half or Quarter Kelly. Full Kelly is theoretically optimal but swingy - and since you can never know your true win rate exactly, betting a fraction of it cushions the damage when your estimate is off. (1 unit = 1% of bankroll.)
It needs a real edge
Kelly only tells you to bet when your win estimate beats the break-even price. No edge, no bet - the formula returns zero. That discipline alone saves most bettors from themselves.
Use a fraction of it
Full Kelly is optimal only if your probabilities are perfect - and they never are. Half or Quarter Kelly cuts the volatility dramatically while keeping most of the growth. Almost every pro bets fractional.
Garbage in, garbage out
Kelly is only as good as your win probability. Overestimate your edge and it tells you to overbet. Be honest - or conservative - with that number and let the math do the rest.
THE GROUND RULES
Four Rules That Keep You Solvent
Only bet what you can lose
Your bankroll is money set aside for betting - never rent, never bills. Walling it off keeps every decision clear-headed instead of desperate.
Keep bet sizes consistent
Bet in units, not gut feelings. A consistent 1–2% per play means no single loss - or hot tip - can blow up your roll.
Never chase or “tilt”
Down on the day? Stick to your unit. The “double it back” bet is how good bankrolls die. The math doesn’t care how your morning went.
Re-baseline as you grow
A unit is a percentage, not a fixed dollar. Recalculate it every so often so your sizing scales up with wins - and back down through downswings.
Sizing is solved. Now find the edges.
Bankroll management keeps you in the game - but you still need +EV plays to win. Brush up on odds and the juice, or let our system do the hunting for you.
For informational and entertainment purposes only. Not betting advice. Past performance does not guarantee future results. Must be 21+. Gambling problem? Call 1-800-GAMBLER.