Hello, there fellow gamblers! Today, I will be tackling a very important topic regarding bankroll management that is geared towards eSports bets. I will be covering subtopics such as the definition of a bankroll, the benefits and cons of having one, how to start one, when to start one, how to maintain it and of course when to withdraw your winnings from it. This will be a diverse topic and I will be covering management only for the eSports side. Without further delay, let’s get on with it!
What is this?
Basically, a bankroll is a specific amount of cash that will only be used towards betting. Remember when I always tell you the golden rule about gambling, that you only bet what you can afford to lose? Well, the bankroll is exactly that. It is a cache of money that you set aside for your gambling purposes.
This is usually done by people that gamble in eSports regularly, as a way to make sure that they have the cash for betting on the matches that they want to wager on without pulling funds from other sources such as your paycheck, loans or mortgaging the house. It can be a huge amount or a small amount. It all depends on the way you bet on your matches and also the scope of the eSports games that you are betting on.
Pros and cons
Now that we know what it is, the next thing we will talk about are the benefits and the cons of having a bankroll. Let’s start with the good things that come with having a cache of money.
First, you will always have cash that will go towards betting on the matches that you want. It could be a whole tournament you are planning to wager on, or matches from different games. Think of it as always having available bets for this purpose.
Second, with a dedicated cache of money for gambling, you would not need to look for other sources for it just like I stated above. It can help protect your property.
And most important benefit, if managed right, this can even become a profitable source of income. That is if you know how to play the odds. If you want to learn how to play the odds, check my previous article regarding it as I have expounded various eSports betting strategies.
With those multiple pros that it has, there are always cons along with it. One of the cons of having a bankroll is funding it initially. The bigger the amount set aside, the bigger the problem of funding it.
Next is maintaining it to be on a positive side. Of course, you do not want to blow all that cash away on the first month or year that you started your bankroll. So serious maintenance such as balancing the cash is needed.
Another con of having one is that it develops an addiction. Having something set aside for betting fuels your gambling habit just because you know that you always have money set aside for that purpose. If you do not want to develop a gambling addiction, I highly suggest that you do not start a bankroll.
How to start?
In the event that you still want to start one even with the pros and cons that I have listed, let’s delve deeper into the intricacies of starting one. Starting a bankroll is easy enough if you really want to. All you need to do is dedicate a set amount of cash for betting. This depends however on how many matches you often play, or how many games you want to play in.
Another factor in setting up the initial amount for it is how much do you usually bet. For example, you only bet on CS:GO matches. And from time to time, you wager between $5 to $10 per match. Now, multiply that on how many matches you are planning to bet on in a single tournament or a single month then deposit the total amount for it. If you bet on 20 CS:GO matches a month with the amount of $5 for each match, deposit $100 on your account. No more, no less.
Ok! Opening one is easy enough. So when do we start? I usually start one during tournaments. I bet on a lot of matches and I open separate sub-accounts for each tournament that I play in and deposit the amount on it.
I usually do that 2 days before the tournament starts so that when the event starts, the money you deposited has cleared already and is ready to go. Other people I know open a monthly account with a set limit. They deposit a set amount of money at the start of the month and take it out at the end of the month. This is another way to go when opening a bankroll for esports bets.
Maintenance the funds depends on the person itself. If you cannot exercise self-control, I suggest you do not start one. Once you have established that you can control your wagering habits, bankroll maintenance is actually as easy as pie. For example, I open different rolls for different types of games I usually wager in.
The thing you need to remember is that you need to set a limit for your bets. This goes back to the start, where you calculated your budget prior to setting that cash aside. If you set it at $5 a bet, DO NOT GO OVER IT!!! DO NOT BE GREEDY!
This is one way that you get all your bets in without losing funds and needing to add more cash in your roll. It is also easier to keep track of your balance in your account this way since you will be able to see that all the bets you made are divisible by a certain number, anything over it is profit.
When to withdraw the profit?
Last important thing we need to discuss is when to cash out. This is very important! Following these set of rules can mean between you making moolah, losing some money or losing all of your money. There is always a perfect timing to withdraw your roll.
For example, if you opened a bankroll for a specific tournament, make sure that you withdraw all your cash at the end of the tournament. Win or lose, cash them all out. That way you can see if you actually made a profit while playing in that tournament or lost some money. If you are doing it per month, always make it a habit of cashing all your profits out and starting fresh for the next month.
If your monthly gambling budget is $100 and you have $231 in your account, make sure to take out the extra $131. This goes the other way too, if you somehow lost money and still want to maintain that limit, just deposit the lacking balance you need to round out the amount in your balance.
With all that said, remember I said earlier that starting a bankroll can be profitable? Yes, it is! With a correct betting strategy, coupled with just opening different rolls for the tournaments, it is easier to win and gain profit this way.
Always remember though to do enough research before committing to a specific bet on a team or a match. If you can play the odds well, you will definitely earn more than you lose which in turn turns into profit at the end of the tournament or event.
A few words of advice though before starting an esports bankroll. Always start out small then work your way up if you feel that it is right for you. Do not go big immediately as it will be hard to recuperate your losses in the beginning. And like I said before, Always Gamble Responsibly!