Bankroll Management 101

You can pick winners at a 60% clip, but if you don't manage your bankroll properly, you will eventually go broke. Bankroll management is the discipline of protecting your betting capital.

The most common method is the "Unit System." Your bankroll is your total betting budget (e.g., $1,000). A "unit" is typically 1% to 2% of your bankroll ($10 to $20). Regardless of how confident you are in a bet, you should rarely wager more than 1-2 units on a single game. This protects you from the inevitable cold streaks and variance that every bettor faces.