Boxing Betting Bankroll Management
There are few sports that are more fun to put money on than boxing. A single punch can swing a fight one way or the other and change the fortunes of bettors everywhere. But while this unpredictability can make boxing betting really exciting, it also makes managing a bankroll very difficult.
This being said, it takes a little work to properly manage your money and ensure long-term betting success. And here's a closer look at some steps you should take to handle your bankroll.
Establish a Bankroll
The first thing you need to do is set aside a certain amount of money that you're comfortable with losing. Of course, you don't want to go into boxing betting with the mentality that you're going to lose because some people make nice profits through the sport. But if you do lose, it's very important that the losses don't affect your ability to pay bills.
So let's assume that you can reasonably afford to part with $500. You would then set this amount aside and refuse to bet any more than this - unless your situation later changes.
Divide your Bankroll into Units
Once you've established a bankroll that you're comfortable with, the next step is to divide it into units. The purpose of units is to break your bankroll down into smaller increments so it's easier to manage. There is no uniform way to establish units, but many bettors like to divide their roll into 100 increments.
Using the $500 amount as an example, you would divvy it into 100 units worth $5 each. But keep in mind that if you have a much smaller bankroll - like say $100 - you might create 20 units of $5. Otherwise, 100 units of $1 each would be too small to do anything with at many online sportsbooks.
Decide how Many Units to put on Each Fight
Just like dividing your bankroll into units, there's no set amount on how much you should put on a boxing match. But as a general rule of thumb, many boxing betting experts suggest that you should only put 1-2% of your bankroll into any single fight.
Calling on the $500 amount once again, this would mean putting $5 - $10 on each bout. Of course, if you really put a lot of research into one match and have a great feeling about it, you could risk 3-4% of your roll. But keep in mind that this can drain your bankroll really quickly during a bad losing streak.
Don't forget Boxing Betting Strategy
While managing your money is extremely important in regard to boxing betting, it's not the only aspect behind long-term success. You should also consider studying boxing betting tips and researching fights as much as possible.
By putting plenty of thought and analysis into boxing matches, you're much more likely to make winning wagers over the long-run. Sure there'll be rough patches here and there, but your overall success rate is going to be a lot higher when studying strategy.
So by combining solid bankroll management with a thorough knowledge of boxing betting, you'll have a good opportunity to make some money and have a great time with the sport.