If you ever wanted to pay for picks or a handicapping service, the bets would almost always be listed in units. People use units in sports betting to level the playing field and simplify successes and failures across all sizes of bankrolls. Why do People use Units in Sports Betting? Risk $25 to win a $50 unit, or risk a $50 unit to win $100. Here the difference becomes risking a $50 unit to win $25, or risking $100 to win a $50 unit. However, say you want to place a moneyline bet on a -200 favorite. Definitely a difference, but not a massive change. Meanwhile, if you choose to win one unit at -110 odds it would be risking $55 to win $50. Sticking with the $50 unit example, if you choose to risk one unit at -110 odds it would be risking $50 to win $45.45. This difference is marginal when wagering on point spreads but can make a big difference for moneyline bets. Once you have decided your unit size, there are two options for how to use the units when you place your bets. What do To Risk and To Win mean in Sports Betting? When using the Kelly Criterion calculator, whatever you decide on just remember to always keep the Kelly multiplier consistent across all your bets. Most bettors aren’t comfortable risking that much of their bankroll at a time, so feel free to set the Kelly multiplier at a fraction of one that you are more comfortable with. With the Kelly Multiplier set at one, it tells you to risk 5.5% of your bankroll on that one bet. Using this calculator, say there’s a bet with a 55% chance of winning and you’re able to get -110 odds. You can use OddsJam’s Kelly Criterion Calculator to find your ideal bet size using this method. The Kelly Criterion is a system that bases the amount of your bankroll to put on each bet based on the odds given, and the fair win probability of the bet. A base bet would be $50, and then for plays you love and see a bigger edge in you might go to two or three percent of your bankroll, which would be two or three units.Ī good way to calculate how many units to put on a bet is to use the Kelly Criterion. There are many strategies for managing your bankroll but if you are simply betting for some entertainment or have the tiniest of edges, you may place a half a unit on a bet, or $25. That doesn’t mean every bet has to be $50, but it’s the starting point to base your bet sizes off of. So a bettor with a $5,000 bankroll should have units of about $50. How do I Calculate my Unit Size?įor the most basic bettors, it’s advisable to make your units about 1% of your bankroll, and certainly not more than 2%. If for example the money across all your accounts add up to $5,000 then your bankroll is $5,000. At OddsJam, we encourage having multiple sportsbook accounts to best utilize the arbitrage and positive expected value features. Not everyone has the same bankroll, so the unit structure evens the playing field when comparing bettors.īankroll refers to the total amount a bettor is willing to lose, or has in their account. This way, bettors can compare their wins and losses via units instead of the amount of currency. A unit in sports betting is the dollar amount that a bettor uses to standardize the stake they place on each bet (ex.
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