Football season is back, and that means one thing—time to place some bets! But before you dive into the action, let’s talk money. Specifically, your money. If you want to keep betting all season long (and not just until Week 3), you need to learn how to manage your bankroll effectively. Don’t worry, it’s easier than teaching your grandma how to do the Griddy.
What is a bankroll?
Your bankroll is the total amount of money you’ve set aside for betting. It’s not your rent money. Not your grocery cash. And please—don’t touch your Netflix fund. Your bankroll should be completely separate from your everyday finances.
Treat it like you’re going to the casino. You walk in with a stack of chips and plan to walk out with the same—or more if you’re lucky. But when it’s gone, it’s gone. No ATM trips allowed.
Step 1: Set Your Betting Bankroll
Start by deciding how much money you can afford to lose. Be honest with yourself. If it’s $100 for the season, that’s totally fine. If you’ve got $1,000, just make sure you’re not breaking the bank (pun completely intended).
Tip: Your betting bankroll should make losing not hurt. If it hurts, it’s too much.
Step 2: Choose Your Unit Size
Now that you have a bankroll, slice it into units. A unit is the amount you bet on each game. Most smart bettors use 1% to 5% of their bankroll as their unit size.
- If your bankroll is $500 and you bet 2% per game, your unit is $10
- Big spender with $1,000? A 2% unit means you’re betting $20
Whatever you choose, stick to it. Don’t suddenly jump from $10 to $50 just because a team “feels lucky today.” That’s how you go broke, fast.
Step 3: Be Consistent
Bettors get into trouble when they chase losses or bet big after a win. It’s emotional gambling, and it’s about as stable as a wet cardboard box.
The key? Always bet 1 unit per play, unless you have a strategically planned reason to go higher (like a ton of research or inside info—not your gut feeling). Some advanced bettors use 2 or 3 units for strong plays. But if you’re just starting out, 1 unit is your best friend.
Think of it like this: you’re building a Lego castle. Steady hands build the best ones. Rushing just makes it crumble.
Step 4: Avoid Parlays Like the Plague (Mostly)
We get it. Parlays are fun. They offer massive payouts for small bets. But they’re also tough to hit. The books love them for a reason.
If you must parlay, do it with lunch money—not rent money. Limit it to a very small percentage of your bankroll. Think of them as lottery scratchers, not investments.
Bonus Tip: Never parlay your way out of a losing streak. That’s like trying to bail water with a cheese grater.
Step 5: Keep Detailed Records
Want to improve? Track everything. Write down your bets, odds, results, and units won or lost. It doesn’t have to be fancy. Even a basic spreadsheet will do.
Here’s what you should track:
- Type of bet (spread, moneyline, over/under, etc.)
- Your bet amount (in units)
- The odds
- Win, loss, or push
This helps you learn what works and what doesn’t. Maybe you’re great at betting totals but awful with underdogs. The data doesn’t lie.
Step 6: Don’t Bet Every Game
You’re not a superhero. You can’t predict every outcome. And you shouldn’t try to.
Be selective. Just because 12 games are on this weekend doesn’t mean you need action on all of them. Find 2–3 picks you really like. Quality beats quantity every time.
Remember: Betting should feel like you’re making a smart choice, not like you’re flipping a coin.
Step 7: Ride the Waves
No one wins every weekend. There will be hot streaks. There will be icy cold crashes. That’s the game.
The trick is not to panic when you’re down or get cocky when you’re up. Stay steady. Stick to your unit size. Trust your process.
If you stay disciplined, you’ll get through the rough patches and come out stronger.
Step 8: Reevaluate and Adjust
Halfway through the season, check your numbers. Are you in the green? Awesome. Maybe consider increasing your unit size slightly—even just from 2% to 3%. Just don’t go wild.
If you’re down big? Take a break. Reassess your strategy. Maybe even scale back your unit size to preserve the rest of your bankroll.
3 Quick Do’s and Don’ts
- Do: Set limits and stay within them
- Do: Bet small, win big over time
- Do: Take breathers when things go sideways
- Don’t: Double down on a loss “just to get it back”
- Don’t: Increase bets because of a hunch (Vegas loves hunches)
- Don’t: Compare yourself to others—we all play our own games
Wrap-Up: Keep It Fun
In the end, betting on football should be fun. It should add excitement to your Sundays, not stress.
Managing your bankroll doesn’t mean less excitement. In fact, it means more. Why? Because you’ll be around for the whole season, not just the first two weeks before you blow your cash.
So grab your spreadsheet, set your budget, and place your bets wisely. Let’s make this football season your most profitable—and most fun—one yet!
And remember: bet smart, not hard. Your wallet will thank you.