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Want to learn to bet? Betting 101 is the place to start.

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Your Bankroll

So no matter what the size of your bankroll in dollar terms, the units will be appropriately relative.

The most common and easiest bankroll is 100 units. You just divide this into your bank amount to give your unit size:

Punter 1: $10,000 bank, 100 units, 1 unit = $100

Punter 2: $100 bank, 100 units, 1 unit = $1

Punter 3: $500,000 bank, 100 units, 1 unit = $5,000

When a stake is advised as, for example, 1.5 units, it’s easy for each punter to know how much to bet.

With any betting approach, it’s crucial you come armed with a full bankroll and stake accordingly. Because while sometimes things are going well, other times there will be inevitable losing streaks. That’s how probability works. Re-read The Tough Punter to see more about that.

Not having a full bankroll is one of the most common reasons punters go bust. They figure they’re onto a good thing, that they’ll just keep winning, so they bet big without the appropriate bank. Then an inevitable losing streak arrives and puts them out of business in a relatively short amount of time. Often, things recover and the winning starts again – but a punter who didn’t have a bankroll has lost all his cash, and couldn’t stay involved for that.

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Index: Profitable Betting 101