Can any long term users give me advice on when to update the current bankroll figure?
I have placed my first 500 bets and changing it daily…not sure which is the correct approach?
This is a subjective opinion of mine. It’s a lot of hassle to update your bankroll in a daily basis, especially if you have more bookmakers you play with. Your bankroll is changing continuously across many bookmakers. It’s challenging to track it accurately. It has no added value though.
There is an approach which I really like and it is from poker. If the bankroll changes by 25% in either way, recalculate it. Alternatively you can update the your bankroll in a regular basis if you wish (bi-weekly, monthly).
Thanks, yes I think the 25% reduction or uplift is what I may use.
Sorry to revive an old topic…
But when people are updating their bankroll regularly, does that mean up as well as down? I’ve been doing this a few weeks and updating the bankroll daily, but have taken some big losses today and my bankroll has dropped by like !0%. Should I drop the bankroll down by this amount, or continue betting at the same level so that hopefully I recover quicker?
You should adjust your bankroll often so you maintain the risk level you’ve selected. Each morning before I start betting for the day I look at how much is in my Bet365 account and how much is in pending bets (I have adjust for open bets on, so this works perfectly), add them together and that’s the bankroll I’m working with for the day.
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