While the flashing lights of the casino floor attract millions, sports betting has exploded into a massive global industry.

Without strict bankroll management, an inevitable bad streak of unexpected injuries or bad referee calls will wipe out your entire account.

The Concept of the ‘Unit’

Professional sports bettors never talk about how many actual dollars they bet; instead, they exclusively use the term ‘units’.

By standardizing your bet size, you ensure that a terrible weekend of bad beats doesn’t completely destroy your entire bankroll.

• By betting a flat 1% unit, you can theoretically lose 100 bets in a row before going completely broke, allowing you to survive massive variance
• Using units allows bettors with completely different financial backgrounds to compare their success accurately and fairly
• When starting out, calculate your unit size once at the beginning of the season and absolutely refuse to change it until the season ends

Tracking Your Bets and Understanding the Vig

Tracking your bets reveals your true Return on Investment (ROI) and highlights exactly which sports or bet types are draining your funds.

Furthermore, bankroll management requires a deep understanding of the ‘vig’ or the ‘juice’ charged by the sportsbook.

Sports betting should be viewed as a slow, methodical grind, not a get-rich-quick scheme.