It is very common for betters to chase losses when betting or place more money on a bet they believe they are getting killer odds on. Therefore knowing that you need to bet within your means will hopefully help you maintain the crucial element of discipline that is needed if you want to achieve success.
What Are Units In Sport Betting?
We use units in sport betting because everyone has a different bankroll determined by how much a person can or feels comfortable losing. This way, by doing some basic maths, we will calculate how much money we should place on a particular bet. It would mean nothing to say that you should only bet $5 on one bet as this could represent a large or short amount of someone’s overall bankroll. For example, if you started off with $100 then this amount could be seen as too much as it represents 5% of your bankroll. Therefore there is a chance you can go on a bad run and have very little money left.
Most systems will be determined by the odds of your selections. For example, if you are backing an overwhelming favorite you might be able to bet with 5% of your portfolio but most systems revolve around using 1 or 2 units as the idea of bankroll management is to protect yourself from when you experience a bad run.
Bankroll Management With Units
A betting unit shows the percentage of the overall bankroll that will be wagered on any given sports event. The percentage setup is dependent entirely on the bettor, anyone with a high tolerance for risk will easily wager with larger units, while those who play safe will prefer using more conservative betting strategies. Simply put, a betting unit is a measurement used to determine the size of a bet.
To give you a very basic example, if you had a bankroll of $1000 and you wanted to bet with 1 unit. This would be $10. The unit here representing 1% of your overall bankroll. It might be the case that your system allows you to place 2 units on odds that are 1.4 and under. In this instance, your system will allow you to place a bet of $20.
Calculating Units on Sportsbooks
Betting units are one of the most important tools for any sports bettor. Whether they have a high level of experience or have a large bankroll, the most successful sports bettors will rely on reputable info and bankroll management. That is where betting units come in since these units are the most important element of both.
Let’s assume a bettor has set aside $1,000 to bet on a football this season, note that this amount will be the total bankroll. If they wagered 1% of the overall bankroll with each bet, the unit size will be $10, and there will be 100 units to bet on the football season.
Measuring the size of the bets and winnings using betting units instead of dollars provides bettors with the option to compare their records with other competitors. By doing so, they will keep an accurate track of their success. Comparing records in terms of betting units instead of dollars is a more sensible and effective way to keep track of which bettor has been an effective sports investor during the game.
Calculating the betting units won is not as simple, but the formula is quite straightforward.
- For positive Odds = x/100
- For negative Odds = -100/x
To calculate the earnings won per unit, simply multiply the money wagered by the units won. Let’s assume that the unit size is $10, and you want to know the number of returns you will have by betting .85 units.
- Simply, 10 x .85 = $8.50
- $8.50 are the potential earnings
Betting units are really helpful for managing your bankrolls, keeping track of your performance, and comparing it with other bettors. Betting units play a crucial role in helping you place smarter bets, and they make up the fundamental component for most betting strategies. If you ever need to determine the value of a betting strategy, simply look at the units won and lost.
When betting you need to be very aware of the money you are spending. If you are poor with bankroll management and discipline there is no chance you will ever be successful in betting. Of course, it’s possible to get lucky but on this site, we take betting seriously and want to tell our readers that long-term success will revolve around a solid betting strategy and good bankroll management. These two factors are arguably even more important than the selections you make.