The importance of a betting bank to any serious punter cannot be
overestimated. A bankroll or betting bank is sum of money set aside
for betting. It must be completely separate from the rest of your
financial affairs and it should be excess money that you can afford
to lose. You should do all of your betting from your bankroll.
Why is it that establishing a bankroll can actually be a very
difficult thing to achieve? With so many pressing demands for your
money these days it can be challenging mentally to come to terms
with the thought of quarantining a sum of money purely for betting.
Actually physically setting aside the money can be even harder.
This is especially so for punters in a relationship where your
partner is either disapproving of your betting or by design,
ignorant of it!
Sounds funny right? What could be so hard as setting aside some
money for a bet?
In this article I will provide some tips to help establish a
separate bank for your betting. This is a significant step towards
making your betting more profitable and therefore more enjoyable.
It sounds simple enough but it is actually not. When I first did it
many years ago it took me more than one attempt!
First I want to explain the reasons why any serious punter,
professional or recreational should have a completely separate
- You will always have money for a
bet. Without a betting bank you need to come up with
money when you want to have a bet. That means taking it out of your
pocket or savings account, stealing it from your partner or
borrowing it from a mate. If you have a separate betting bank then
you never need to find money for a bet. Assuming you don't lose it
all, it will always be there for you to have a bet.
- A betting bank provides a record of your betting
activity. Many people who gamble have no idea how
much they lose. Assuming you have the discipline to establish a
separate betting bank and use it for all your betting, this
will provide you with a black and white picture of how much
you have won or lost over a certain time period. Even if you don't
record your bets you will be able to look at the account (and
bookie balances) and know how much you have won or lost.
- A betting bank will help you take your gambling more
seriously. Once you set up a bank it feels good. You
are doing it the way the professionals do it. You have taken one of
the biggest steps towards making your betting profitable.
- A betting bank provides a buffer between you and your
losses. With money set aside purely for betting, if
you have a losing day, it's not going to come out of the rent money
or grocery bill. It comes out of the excess money you have set
aside for betting and it should not impact on your personal or
If you are a regular punter who wants to take his or her betting
more seriously but hasn't been able to take the next step of
setting up a bankroll and recording your bets then here a few tips
that might help you make that transition to the next stage in your
- Have a break from betting before setting up your
bankroll. Chances are your betting has been irregular
and you've probably been betting too big. You might think you will
set up a bank when you have your next win. That win comes but soon
enough the proceeds dissipate and you still don't have your bank.
You are going to have to break some bad habits and you will be
betting much smaller amounts ( I wouldn't risk more than 2.5% of my
bank on one race). You will need to come into it with a fresh
approach. Take a break from betting, do some other activity when
you would normally be betting. Pick a significant date for your
return. Let the mistakes of the past go and come back with a
- Respect your 'Roll. Your bank is only for
betting, all of your betting. You set it up for a reason, to take
control of your betting and to bet more seriously. Respect it. It's
your life blood as a punter. It's your ammunition in the war with
bookies. Do not muddy the waters by dipping into it for other
purposes. Do not lend out of it. Do not spend out of it. Treasure
- Set up a new savings account for your bankroll at a
DIFFERENT bank you don't already bank with. Remember
you have to break old habits. Going to a new bank will give your
bankroll some independence, its own identity and will help you keep
it separate. List your work address with the bank if you need to so
the Cheese n Kisses won't see the statements. Physically transfer
the money into your new betting savings account as soon as you open
- Open a second bookies account. If you
previously only bet with one bookmaker open another and split your
bankroll between the 2 bookies accounts and your bankroll savings
- Work out a proper staking plan for your betting
future. There is much literature on the internet
about staking plans. It is a topic for another article but your
bank will be useless if you don't have a proper staking plan to go
along with it.
For those looking to take their betting to the next level I hope
there might be something in the advice above to help. Often
actually having a bankroll is half the battle. The other half ?
Finding value of course!
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established in 2014 by Andrew Capelin to provide form analysis,
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