Betting units are a crucial tool for all sports bettors, regardless of experience level or the size of their bankroll. The success of sports betting is based on access to reliable information and careful bankroll management, and betting units are an important element of both.
Creating a new Excel spreadsheet is the first step for all winners in sports betting. All results are recorded in that spreadsheet, so that punters monitor the performance of a betting system. If until now you have not done so, now it is the right time to start. You can use Open Office for free to track your bets.
The most common columns in your spreadsheet should be:
- The date, to be able to sort the matches in chronological order
- The games/teams
- The odds you bet on and the market such 1X2 or Over/Under
- Stakes usually between 1% to 5% of your bankroll or Masa Stakes
- Which bets won or lost
What is a betting unit?
Quite simply, a bet unit is a measure used to determine the amount of your bet. Specifically, it is the percentage of your overall bankroll that you bet on a particular sporting event. This percentage is up to you – those with higher risk tolerance will be comfortable betting with larger units than those who are more conservative with their betting strategy.
Let’s say you’ve set aside € 1,000 to wager on college football this season (this amount is called your bankroll). If you wanted to bet 1% of your overall bankroll with each bet placed, your unit size would be € 10 and you would have 100 units to bet with this season.
Measuring the amount of your bets and winnings in betting units rather than dollars, allows you to compare your record with other bettors and more accurately monitor your success.
Everyone who bets on sports is willing to put a different amount of money on the line, but comparing records in terms of betting units won rather than dollars won or total number of correct choices provides a better sense of who was the most effective investor during a season.
Unit size and bankroll management: how much should you bet?
Correctly determining the size of your betting units is the key to using them for effective bankroll management. Regardless of how much money you have to bet with, you need to decide how much you are willing to risk for each choice.
So how do you decide how big your betting units should be?
The size of the unit depends on your risk tolerance and an assessment of your ability to bet on and to make accurate choices. Beginners or those who don’t know much about the events they are betting on should use a smaller unit size. More experienced bettors might select a slightly larger unit size, but it should never be a significant part of your overall bankroll.
1-5% of the bankroll is a reasonable size for the vast majority of bettors. Beginners and those who like to play more conservatively should stick to 1-2% on a single bet.
In general, we recommend that you bet the same amount (a single unit) with each bet. This way you can spread the risk over many events and eliminate the possibility of running out of your bankroll two weeks before the start of the season. Alternatively, you can set the unit size to a strict 1% and bet 1-5 units on each bet you make.
Track your record with betting units
Betting units are the best way to keep track of your wins and losses when betting on sports. There is some value in simply monitoring which bets you have won and lost each season, but this overall win / loss ratio is only part of the story.
Since the odds differ between events, not all wins and losses affect your bankroll equally. Look at it this way: You’ll probably be impressed if someone tells you they’ve won bets 55% of the time. But the odds do matter. If they only bet on favorites with odds of -200, they have to win around 67% of those bets just to break even. Not that impressive after all.
Tracking the number of units won and lost, however, provides a direct connection between your record keeping and the health of your bankroll. It’s a quick way to view your monetary gains (or losses) and determine which choices offered you the most value. More importantly, betting unit tracking allows you to compare your strategy and success with other bettors, regardless of their bankroll size.
How to calculate the units won
It is easy to determine how many betting units you have lost. If you follow our advice and bet one unit for each bet, you will lose one unit every time you make a wrong choice. Calculating the units won isn’t simple enough, but the formula is still incredibly simple.
Each sporting event has only one measure of units won and lost.
These values are simple representations of the return on investment. They can be applied to determine how much you would have won or lost on a given bet.
Calculate the earnings per unit won
Calculating potential earnings based on winning betting units is simple. Very simple. Just multiply the dollar amount you typically bet by the units won.
If your unit size is $ 10 and you want to know how much you would earn on a bet that returned 0.85 betting units, you would calculate 10 x 0.85 to find $ 8.50 of potential earnings.
These calculations are useful when evaluating the strategies and claims of services for the handicapped, which often advertise their records in terms of units won.