Before we get onto the exciting part where I will help you find a tipster to bet with and also show you where you can get some free tips, it is important you first have a basic understanding of bankroll management.
Bankroll management is the single most important factor that will determine whether you will make money from you betting over the long term.
If you do it wrong I can guarantee you that you will not be a profitable bettor.
But if you do it right, you should see some nice returns from your betting year after year.
So what is bankroll management?
Bankroll management simply means working out how much you should be staking on a bet in relation to the size of your total bankroll in a way which best balances risk and reward.
Your total bankroll is however much money you can set aside for betting purposes.
A good tipster will turn a profit on their selections in the long run, but sometimes a tipster will go through a rough patch with their selections.
Losing runs are a part and parcel part of betting and even if you are betting on value selections, you will still have a losing run every now and then.
Smart bankroll management plays a vital part in making sure your bankroll doesn’t get too dented by these losing runs and ensures you will make a profit over the long term, so long as you are taking value.
What do I recommend?
When it comes to bankroll management I recommend betting no more than 1/200th of your total bankroll on anyone selection and I try to keep my bets to somewhere closer to 1/400th of my bankroll.
If you want to know the full reasoning about why I recommend that you can read this article where I explain in detail my approach to bankroll management.
If you just want to know how much you should be staking on each bet you can use the calculator below to calculate the maximum I advise staking on any single bet.
As your bankroll increases or decreases you should recalculate your stake size so you are not over betting.
I would recommend doing this if you bankroll has increased or decreased by ~20%.
Action Points Summary
- Calculate the maximum amount you should be betting using the above calculator.
- Read this article to get a more in depth understanding of bankroll management.
- Once you have an understanding of bankroll management, click here to find out where you can get profitable tips for free.