Fantasy Bankroll Money Management Tips
by RotoPicks.com Staff
If you read only one tidbit of advice on the RotoPicks site, we sure hope it's this one! Money management is the most underrated and most ignored variable when it comes to winning at fantasy sports betting! You absolutely positively HAVE to have a plan going into this endeavor otherwise you'll be starting out at a huge disadvantage and will NEVER be able to win at this game that is VERY winable!
We're going to use a buddy of ours as an example. Great guy, highly intelligent, but dumb as a box of rocks when it comes to how he approaches both daily fantasy and sports betting. Why you ask? Because his approach is flawed. The guy bets his whole bankroll every day!
You can't win this way! It's no different than Russian roulette. You may survive one, two or maybe even three trigger pulls before sooner or later, you're going to bite the bullet and when you do, POOF! Your bankroll is GONE and you're making that dreaded reach into your wallet for your Visa to make another deposit!
Ok, now that we've explained how dumb it is to wager your whole bankroll in one day, this leaves the question of "how much should I bet" on any given day?
If you search around the web, you'll find MANY different philosophies about this topic. The correct answer depends on how good of a fantasy sports handicapper you are. A good/astute daily fantasy player can get away with wagering as much as 20% of his total bankroll in one day. A not-so-good daily fantasy player should never risk more than 10% of his total bankroll (account balance) in one day.
The reason for these numbers is so that you can sustain "life" through bad streaks.
Even the best fantasy gurus go through highs and lows.... We've all had days where all of the stars were aligned and we had compiled a "super team" that "can't lose" and then that team goes out and scores an unbelievably low number for the day. By playing no more than a set percentage of your bankroll each day you minimize your risk to having your whole bankroll being blown out in a single session.
There are many amateur fantasy players who "fire" their whole roll every day that they play. That's fine for those guys as they're really there for the entertainment of the whole shabang and don't really care whether they make money or not, because as previously noted, it's entertainment for them. Sharp players view these players as "fish". Conversely, "sharps" are there to make money and feed off of these fish.
In conclusion, the real question is "are you playing daily fantasy to make money or are you here for entertainment?"
If it's to make cash, start sticking with the 10-20% rule and drop me an email thanking me later. If it's for entertainment, that's cool, I get that. There's something to be said for a rush and the excitement of it all. We exercise this right at amusement parks, movie theaters, bars, etc. so it's not a sin to commit this act at a fantasy sports site.
Good luck with whatever you decide!
Related: Daily Fantasy Sports Money Management.
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