Learn How to Manage your Bankroll During March Madness with this easy guide by YouWager.lv.
Several March Madness bettors have fallen into traps, so here are five ideas to help you avoid them as we prepare for what should be an exciting Big Dance.
March Madness Bankroll Management Tip #1: Limit Futures Bets
It’s entertaining to throw money at six or seven teams to win the NCAA title, but there are wiser ways to spend your money.
Futures bets may begin to feed off one another. Your other teams will undoubtedly lose even if one of them triumphs. All of a sudden, your +1100 winner is actually only giving you +300 because you have to cover all of your losses. Or, even worse, all your bets go wrong in a year like this, when everything is so unpredictable.
If you like to bet on futures, it makes more sense to reserve the remaining bullets for individual games and to bet one long-shot favorite and one “safer” favorite.
Recall that if you hedge well and your team wins a few games, you can profit indirectly from a losing futures ticket.
The moneyline rollover approach is a viable substitute for futures markets that has gained popularity recently. For teams predicted to finish last in each round, this strategy is extremely advantageous.
For example, in the first round, you wager $100 on Furman +190, and it wins. The next step would be to take that $290 cash-out, place it all on Furman’s moneyline in the following round, and continue the procedure all the way to the championship game (if Furman progresses).
In addition to having the option to withdraw after a victory, the ultimate payoff is larger than that of a futures bet. For example, unlike futures bets, you can choose to end the mission early and still make money if Furman progresses and an injury to a great player occurs.
March Madness Bankroll Management Tip #2: Don’t Panic After A Start Slow
When a team is losing and starts forcing desperate three-pointers, what happens to it? Things can quickly spiral out of control and become ugly. This is the worst-case situation for a bettor.
Remain calm and follow your strategy if your first round goes poorly. In order to “catch up,” you must refrain from going on a tilt and from raising your average bet sizes. This requires impulse control and is easier said than done.
One useful activity to do when you feel the need to “go all in” is to “zoom out.” Panicked ideas such as “I’m running out of time, the tournament is half over” can set up when one is watching the NCAA Tournament closely.
But if you inhale deeply and pan out, you’ll realize that there’s always going to be a competition, and that after it’s over, you can wager on the NBA, NHL, and MLB.
March Madness Bankroll Management Tip #3: Limit Average Bet Sizes
The largest distinction between professional and Joe Public bettors may be that the former typically stake three percent of their bankroll on each wager, whilst the latter frequently takes far bigger swings.
If you are accustomed to greater bets, three percent, or $3, may seem tiny and even dull if you have only $100 to stake with. But consider this: would you rather be a highly entertained loser or a bored winner?
Swing for the fences if all you want out of March Madness is amusement and you have plenty of cash to waste. For others, the three percent rule can help you develop sensible betting practices and weather the losing streaks that even the most successful sports gamblers experience.
March Madness Bankroll Management Tip #4: Shop Around & Use Discernment
It is not in our hands as bettor-sportsbook relationships have several factors working against sports bettors. For example, we have no influence over blind referees or bad beats, nor can we control the fact that casinos charge 10 percent juice. We do, however, have authority over where we lay our bets.
From book to book, point totals and spreads differ significantly, and moneyline prices frequently fluctuate by ten percent or more. You’re not betting correctly if you’re not using various sportsbooks, especially in 2023 when books will be offering bonuses to new consumers.
Consider your level of conviction and the reason behind your bets for each one you make. Be sincere with oneself. It is not a winning approach to bet a game lightly because you are bored or because it is the only thing on TV. Sometimes it’s best to pass and make no wagers at all.
March Madness Bankroll Management Tip #5: Consider 1H Lines
How many times have you seen an underdog lead the Big Dance at halftime only to lose handily? A proficient three-point shooting squad has the ability to surge for a quarter, surprise everyone, and then fade away toward the mean.
Smaller school players may appear strong for the majority of the match before faltering in the last minutes. At the end of a game, missing free throws can be a painful way to lose.
You can reduce the likelihood of the aforementioned events derailing your wager by betting the first half rather than the entire game line. Generally speaking, I like to wager more favorites on the full-game line and more underdogs on the 1H line in March. Another alternative is to wager half a unit on the first-half line and half a unit on the full-game line.
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