NHL Betting: Managing Your Bankroll for Better Payoffs

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The NHL is the pinnacle of ice hockey worldwide. The sport, which originated in the north, has expanded its reach like wildfire. The NHL currently has fans in every region of the United States, as well as every corner of the world. Because of its mass appeal, it’s easy to see why the NHL is a popular choice for sports bettors: it’s a fast-paced game where you can make a lot of money if you’re skilled.

NHL Bookmakers aren’t doing a public service by taking bets; they’re doing it because it’s a profitable business. Every bet they take in comes with a profit margin built-in since the oddsmakers get to establish them. Despite this, it is possible to beat the bookmakers’ edge.

Successful NHL bettors are usually well-versed in the games they bet on as well as the various betting strategies. Undeniably, they must put in a lot of effort to succeed. The best part is that they understand how critical it is to manage one’s bankroll properly.

How Can You Manage Your Bankroll?

To be a winning NHL bettor, you’ll need to master the art of managing your finances. That being said, it’s important not to confuse your betting account with your real-world cash. In the real world, the most common way to get compensated for the work you do is with money. Within each pay period, you receive an additional amount of money from your employer.

Contrarily, when betting on the NHL sports odds, you can only make more money if you have the money, to begin with. So if you play too aggressively and lose all of your money, you will be unable to earn any more money until you replenish your account. As a result, it’s your responsibility to safeguard your funds and seek opportunities to increase them responsibly.

A long-term strategy is needed to defeat the bookmakers. However, if you’re excessively aggressive, short-term volatility can wreak havoc on your bankroll. Below is a short guide that can help you start your bankroll management journey.

1. Use Bonuses Provided by Online Sportsbooks

It’s a good idea to open multiple sportsbook accounts. For starters, you’ll get the most incredible odds possible on every wager you place. Having a lot is also beneficial since you may take advantage of different sportsbook bonuses.

Your bankroll will grow quickly if you use this method. Some NHL gamblers grew their bankrolls from $100 to more than $7,000. While some of that came from gambling, bonuses accounted for the majority of the increase in revenue.

It has become common practice for gamblers to move from sportsbook to sportsbook, searching for the best bonuses. Because of this, the first thing you should do each morning is to check every sportsbook to see whether they have to reload bonuses or anything else and take advantage of each.

2. Equip a Star or Unit System

Bettors do this by assigning a numerical value to their bets on NHL spreads and lines. If you had three confidence levels (i.e., one, two, and three stars/units), you’d have an obvious fix. Then, a monetary value is assigned to each star or unit. One way to think about this is to suppose you’re comfortable betting $10 units, which means that a one-unit bet would cost $10, and a three-unit bet would cost $30.

The most widely accepted guideline for managing your betting bankroll is to never wager more than 2% to 3% of your whole bankroll on any single NHL odds. As a result, if you use the unit/star system, you would stake 1%, 2%, or 3% of your total bankroll on each wager. Then, as your bankroll grows, so do your bet sizes.

3. Incorporate a Flat Betting Approach

Flat betting is when you bet the same amount/unit on each game and only risk 1% to 5% of your money per game. 3% of each play is a solid starting point. For example, if you have $100 in your bankroll, you should bet $3 on each bet. Every wager you make should cost you $30 if you start with $1000. The price per unit would be $3 or $30.

Being consistent and diligent with your unit size helps you withstand the inevitable fluctuations in NHL betting profits or losses. When you’re on a losing streak, this will save you from bankruptcy. But if you’re winning, you’ll get a good return on your investment (ROI).

When you bet flat, you bet on each game separately and don’t use parlays. Parlays are the dollar slots of sports wagering: enticing and extremely risky. Flat betting may not deliver the enormous one-time payout that some bettors expect. Still, flat betting is an intelligent, sustainable long-term approach that helps bettors maintain their focus through the inevitable ups and downs of sports betting.

Make Sure to Track Your Results

Successful sports betting requires good bankroll management. It offers long-term bankroll protection, which is how winning sports bettors make money. Setting a correct unit size is the first step in intelligent bankroll management, but specific betting strategies let you adjust your wager amount based on your confidence. Finally, track your results to determine your strengths and weaknesses if you can accomplish all that and handicap games properly