While the flashing lights of the casino floor attract millions, sports betting has exploded into a massive global industry.

Without strict bankroll management, an inevitable bad streak of unexpected injuries or bad referee calls will wipe out your entire account.

Understanding Betting Units

Professional sports bettors never talk about how many actual dollars they bet; instead, they exclusively use the term 'units'.

By standardizing your bet size, you ensure that a terrible weekend of bad beats doesn't completely destroy your entire bankroll.

• By betting a flat 1% unit, you can theoretically lose 100 bets in a row before going completely broke, allowing you to survive massive variance
• Using units allows bettors with completely different financial backgrounds to compare their success accurately and fairly
• When starting out, calculate your unit size once at the beginning of the season and absolutely refuse to change it until the season ends

Tracking Your Bets and Understanding the Vig

You cannot effectively manage what you do not measure; recording your wins, losses, and odds is absolutely mandatory.

When you bet on a standard point spread, you usually have to risk $110 to win $100 (odds of -110).

Discipline is boring, but in the world of gambling, discipline is the only thing that actually pays the bills.