Staff
If you want to beat the house betting sports in Pennsylvania you have to learn how to pick winners.
The ability to pick winners is the true key to success in PA sports betting. If we’re being honest, there really is no substitute for it.
However, even the sharpest of sports bettors can run hot and cold. Nobody is right, or wrong, all the time.
Sharps that earn a living betting sports professionally understand that better than most.
Conservative bankroll management strategies
As a result, most employ conservative bankroll management strategies helping them to avoid going broke when they’re on a losing streak and ensuring they still have some skin in the game when a winning streak comes around.
Whether you aspire to one day make Pennsylvania sports betting a career or just want to have a little fun on a PA sports betting app in your spare time, you can use conservative bankroll management strategies to enhance your PA sports betting experience and make it profitable.
Proper PA sports betting bankroll management strategies might not help you pick winners. However, taking the conservative approach these strategies preach will give you the time to develop a winning strategy and ensure bad luck in a single game will never ruin you.
Some experts even go as far as claiming bankroll management is the most important part of creating a winning sports betting strategy. There’s still no substitute for picking winners, but combining that skill with a conservative approach to bankroll management is what the real winners in PA sports betting are doing.
What is bankroll management?
Basically, bankroll management refers to how you handle the money you have allocated to bet on sports. Proper bankroll management can make the difference between earning a steady profit over a season and going broke in Week 1.
An example of poor bankroll management would be betting all your cash on an early season sure thing. Since there is really no such thing as a sure thing, you’re liable to end up taking the rest of the season off if you do that.
Properly managing your betting bankroll throughout an entire season is a path to steady profits and still having something to bet when the postseason begins. Plus, it can ensure you can endure the kind of losing streak even the sharpest sports bettors regularly face.
Why is bankroll management so important?
You need money to make bets. If you blow through your savings getting unlucky while employing poor bankroll management strategies, you simply won’t have any.
Employing a conservative bankroll management strategy will ensure you’ll almost always have the money you need to make another bet and turn even a long losing streak around. Those that don’t manage their bankroll properly can be sidelined by one bad streak.
How do I get started managing my bankroll?
The first thing one must do in employing a proper PA sports betting bankroll management strategy is deciding how much money they have to wager with. In other words, one must set the size of their bankroll.
This needs to be something you can afford to lose. It also needs to be kept separate from the money you use for general living expenses.
It’s a good idea to set a limit on what that bankroll will be. Then, if you win a few bets, take the additional money out of your bankroll. This means you’re always dealing with the same size bankroll when it comes time to place a bet.
Of course, if you find success you can always re-evaluate and set your bankroll size even bigger at a later date.
The number you start out with depends entirely on your personal financial situation. But remember, the money should always be expendable. In other words, an amount you can afford to lose and live without.
You may need to reload if things go bad right from the jump. However, this amount should be all you’ll ever need to put into PA sports betting. Therefore, it needs to be an amount that will last a while using a conservative approach to betting, not just one weekend worth of games.
Does this mean setting limits on how much I bet on each game?
Your approach to PA sports betting should be that it’s a marathon, not a sprint. In other words, your goal is to be a long-term winner, not just win a single bet on something like the Super Bowl.
Conservative PA sports betting bankroll management strategies attempt to slowly build your bankroll into something substantial. They do not try to double it in a day.
The most conservative PA sports betting bankroll management strategies prescribe a flat-betting approach. This means betting the same amount on every game.
True conservatives will make that amount no more than 1% of their bankroll. The less risk-averse looking to bet more aggressively, but still maintain a conservative bankroll management strategy will make it no more than 5% of their bankroll.
Alternatively, you can vary the size of your bet between 1% and 5% depending on the confidence you have in each bet or the odds offered.
Should I be making a certain type of bets?
Moneyline and point spread bets certainly have less variance than parlays. Therefore, a conservative bankroll management strategy would suggest you lower the amount you bet on higher variance plays like parlays. However, that does not mean avoiding them altogether.
Where do these bankroll management strategies come from?
Conservative PA sports betting bankroll management strategies are rooted in the same principles used to create any sound financial strategy. It’s the same ‘don’t put all your eggs in one basket’ approach most financial advisers and money managers suggest when it comes to investing.
Should I adjust my bet sizes and bankroll at any time?
Following a proper conservative PA sports betting bankroll management strategy is essentially about setting limits and sticking to them. However, it’s also a good idea to periodically take stock of how the strategy is working and possibly reset those limits.
During losing streaks most people are tempted to start betting bigger to try to recoup losses faster. Some people might even be tempted to bet more during a winning streak to maximize profits. These are losing plays over the long haul and run contrary to a proper conservative PA sports betting bankroll management strategy. Slow and steady wins this race.
Proper PA sports betting bankroll management strategy is about handling the inevitable ups and downs of betting on sports.
However, you can feel free to change the percentage of your bankroll that you are willing to wager, and the size of your bankroll, when it makes sense to do that.
Whether you’re winning or losing, don’t be afraid to make slight adjustments that will keep you in the game longer or maximize your profits.
Reduce your bet size if you’re on a losing streak and you’ll be able to ride it out. If you’re hot and your bankroll is bulging, consider increasing it. Just don’t start betting more than 5% it on any one game.
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