There seems to be a bad preconceived notion that when it comes to sports betting and gambling in general that one is immediately talking about hundreds and hundreds or even thousands of dollars. This probably comes from the over dramatization of gambling debts to bookies and loan sharks that are life changing. But in today’s modern game of sports betting, gambling has become safer and can be done at almost any price.
Regardless of a person’s financial situation, today’s online sports betting allows everyone a chance to bet on any single NFL game all the way to betting on who will win the entire March Madness bracket. You don’t have to be a high roller or even financially well off to get into the sports betting game. Thanks to online betting platforms and apps, sports betting is more accessible to people of all financial standings. So let’s knock down some of those bad preconceived notions and look at how you can start betting on sports with a small bankroll.
Starting Bankroll
Your bankroll is your bankroll, no matter what the size. If you want to get into sports betting, you can get started with any amount. Using a principle and setting the standard of how much you are willing to part with is the key. It doesn’t require a $1,000 deposit to get started. Many people start with as little as $50 or $100 in their bankroll just to get them started.
This bankroll can be increased if you are a new customer on the platform of choice or many have re-upping bonuses when you add money to your bankroll. Sign-up bonuses are more popular and lucrative than re-up bonuses, but keep a lookout for different promotions. Another good way is to invite friends and family to sign up on the platform. Many will give you matching bonuses or freeplays when they sign up and deposit an initial bankroll.
And keep in mind, just because you start with a small bankroll doesn’t mean that you have to bet big to enjoy it. A good common ground to make sure that you bet proportionally to your bankroll is to place bets that are 3% of your bankroll. So if you start with $100 in your bankroll, $3 is a solid bet per play or per bet that you place. Get your feet wet a little before jumping in the deep end.
Playing Long Term
When getting into sports betting, don’t fool yourself into thinking that you are going to strike it rich immediately. Very few do this unless they are really good, really lucky, or a lot of both. Stick it out for the long haul. This is like the old adage of the tortoise and the hare. In the case of sports betting, especially starting out, it is better to be the tortoise. Slow and steady.
There are many stories of the casual player who starts out with $100 in their bankroll, and ends up with larger bankrolls over a stretch of time. Pay attention to special offers on bets and bets that have favorable odds to increase your bankroll. You might just see that bankroll go from a $100 starting out to easily $400 to $500 in just a year’s time if you make wise bets. That’s not a bad return on investment while having fun.
Don’t Get Careless
Stay humble and under control with your sports betting. Don’t get careless and let it become an addiction. Many bettors get themselves into trouble when they get a taste of success at small amounts of betting and then start ramping up their bets to higher and higher amounts. Before they know it, they have blown through their entire bankroll making reckless bets and are now reloading their bankroll with even bigger amounts.
Danger! Danger! Avoid this behavior at all costs.
Instead, stick to the 3% rule of thumb mentioned before. This is great for people to stick to if they are having a streak of bad luck and lost bets. It can help them adjust their bet per play as their bankroll changes. Down to $25 in your bankroll would be placing bets between $.75 and $1. If the bankroll is up to $200, then feel free to bet $6.
These are great standards to keep in mind when gambling with a smaller bankroll.
