How To Build Up Your Bankroll With Sports Betting
Your bankroll is the money you’ve set aside specifically for betting.
It determines your bet sizing and influences how much risk you can take.
When starting, most bettors have a bankroll smaller than they’d like or hope to grow over time.
So, how can you increase your bankroll to place larger bets and maximize your potential winnings?
Let’s break down the strategies to help you build it up effectively.
1. Establishing A Starting Bankroll And Adding to It
To build your bankroll, you’ll have to begin with establishing what your bankroll will be at the beginning.
If you are trying to build it up through sports betting, you’ll need to have some money set aside to place your first bets, or to seed your accounts.
Even though this won’t include sports betting, it can be very beneficial, especially at the beginning to try to add some additional money periodically to help grow your bankroll.
Again these should be funds that can be lost without affecting your everyday life if lost, but you can consider sports betting as a hobby, and use funds geared towards a hobby to your sports betting.
This additional allocation will help increase your ability to use other strategies to improve your bankroll.
2. Utilizing Available Bonuses and Promotions
If we are going down the list of ways to help increase your available bankroll, this may be the simplest and quickest way to do so.
Many sportsbooks will have promotions and bonuses available to new and existing bettors on their platforms.
Essentially providing you with funds from the sportsbook to be used for bets on that book.
Allowing you to increase your bankroll, without having to have it all provided with your funds.
There are of course caveats to these, the first being that you must ensure you understand all the rules and requirements for you to be able to utilize these bonuses and promotions to the max.
Understanding the Rules of the Promotions and Bonuses
Each book will establish these rules and requirements separately, so before pulling the trigger, make sure you go through them.
Some will require a certain number of rollovers, requiring you to place bets equalling the rollover multiple of the funds you deposit and the bonus funds given as a match.
For instance, if the bonus is a 100% match up to $100 with a 10x rollover.
You deposit $100, the sportsbook gives you $100 in bonus funds to match.
You will be required to make $2000 in bets to be able to access any of the winnings of those bonus funds.
Some will add on time requirements, where after X number of days all bonus funds will be voided.
Understanding the Types of Promotions
The types of promotions are also not created equal.
The most common types of promotions are no-risk (no-sweat) bets, qualifying bets, and bonus funds.
No-Sweat Bets
These promotions will often be dependent on how much you wager on a qualifying bet.
A sportsbook will then typically provide you with bonus bets equal to the amount you wagered, up to a specific dollar amount, if that bet loses.
With these types of promotions, it’s important to know how they will allocate your bonus bets if your wager does lose.
Some sportsbooks will return the bonus bet where it is required to all be bet on one single bet, others will divide them into smaller even sized bonus bets that can be used on multiple bets.
Qualifying Bets
These types of promotions are often found for first-time wagers.
Often a sportsbook will have you bet a certain amount, maybe $5 to $10 for instance, and in return, they will provide you with a set amount of bonus bets.
A good example would be betting your first 5 dollars and then being given $200 in bonus bets.
Depending on the state you are wagering in, and the rules of the sportsbook this will either be straight up, bet your first wager and receive the bonus funds, or in some cases you are required to win that first bet to receive the bonus funds.
When this is the case, though not always the best for general betting, consider wagering on a line that is extremely likely to occur.
This is because with this promotion often requiring a small wager to earn a good bit of bonus bets, the winnings of the initial wager are not as important as the physical winning result.
Bonus Funds
Bonus funds are often tied to deposit match promotions, where a sportsbook matches a portion of your deposit up to a certain limit.
For example, with a 50% match on deposits up to $500, you’d need to deposit $1,000 to receive the full $500 in bonus bets.
These promotions can quickly boost your bankroll since you get bonus funds in addition to your deposit. Using the example above, a $1,000 deposit would give you $1,500 in total betting funds.
However, these offers usually come with rollover requirements, meaning you must wager a certain amount before withdrawing any bonus funds.
Understanding how these funds work is key to maximizing the value of promotions and making the most of your bets.
How Bonus Funds Typically Work
Think of bonus funds as betting vouchers—they don’t have cash value on their own. When you place a bet using bonus funds, you only keep the winnings, not the original stake.
For example, let’s say you place a $100 bet at +100 odds:
- If you use your own money, the sportsbook pays out both your original $100 stake and the $100 in winnings, totaling $200.
- If you use $100 in bonus funds, you only receive the $100 in winnings. The original stake isn’t returned, so the sportsbook gives you just $100.
Understanding this difference is crucial when using bonus funds, as it affects your overall betting strategy.
3. Making Use of The Arbitrage Betting Strategy
Arbitrage betting is a valuable strategy for growing your bankroll, as it guarantees profit when executed correctly. The only real risks are line movement before both bets are placed or a sportsbook limiting your wager.
This strategy works by placing bets on both sides of a wager at different sportsbooks, ensuring a profit regardless of the outcome.
For example, if you’re arbitraging a moneyline, you’d bet on Team A to win at one sportsbook and Team B to win at another.
Since one team must win, you secure a return on your bets.
The key is finding sportsbooks where the underdog’s odds (positive) are greater than the favorite’s odds (negative). Let’s say:
- Team A’s moneyline is +120 at one sportsbook.
- Team B’s moneyline is -110 at another sportsbook.
To take advantage of this opportunity, you must calculate your bets so that the returns from either outcome are nearly equal.
- Betting $100 on Team A at +120 yields a potential return of $220.
- To match that return, you’d bet $115 on Team B at -110, which would return $219.55 if won.
No matter which team wins, your total return will be $219.55–$220, while your total bet amount is only $215. This locks in a guaranteed profit of $4.45–$5.
4. Finding +EV (Expected Value) Bets
Finding and wagering consistently on +EV bets is key to having the opportunity for long-term success in sports betting.
A +EV bet means the odds are in your favor over time, which gives you an edge against the sportsbooks.
One way to find these bets is by comparing odds across a variety of sportsbooks.
One book offering better odds than the rest can be an indication of value.
Another way is by looking for inefficiencies in the lines–sportsbooks aren’t perfect, and sometimes their odds don’t fully reflect the true probability of an outcome.
Though coming with an upfront cost, utilizing betting tools that offer real-time data and odds comparison can be quite beneficial when looking for these plays, as they can give you upfront data on a wide variety of contests.
Speed and efficiency are extremely important when looking for +EV plays, as lines and markets can change quickly, and sportsbooks are also looking for lines they have mispriced.
While not every +EV bet will win, consistently betting on them will put the odds of success over time in your favor.
Implementing a Bankroll Management Strategy
A critical part of building your bankroll is properly managing the funds you have.
Without a solid strategy, money will come in one end and go out the other just as quickly.
Effective bankroll management helps minimize risk and positions you for long-term success.
By keeping your bet sizes proportional to your available bankroll, you avoid overextending yourself and reduce the temptation to chase losses—one of the biggest pitfalls bettors face when attempting to accelerate their growth.
Check out this post for a guide on properly managing your bankroll effectively.
Closing Line
Building your bankroll in sports betting isn’t about taking huge risks—it’s about making smart, strategic decisions over time.
By taking advantage of bonuses and promotions, finding +EV bets, and utilizing arbitrage opportunities, you can steadily grow your available funds.
However, simply increasing your bankroll isn’t enough.
Proper bankroll management is key to sustaining long-term success.
Without it, even the best betting strategies can fall apart due to poor money management and unnecessary risk-taking.
The goal isn’t just to place bigger bets—it’s to bet smarter.
By sticking to these principles and making informed wagers, you’ll put yourself in the best position to maximize your potential and keep your bankroll growing over time.
Now, take what you’ve learned and start applying it to your betting strategy.
And if you’re looking for more ways to refine your approach, be sure to check out our guide on effective bankroll management to keep your betting on the right track.
