If you want to allocate your betting money, you need to know about units in sports betting. Discover what this means here.
There’s a reason why the global sports betting industry is expected to reach $179.3 billion in value by the year 2028. Sports are already exciting, but when you add betting to the mix, it can become an adrenaline-pumping occasion.
However, if you aren’t careful with your money, it’s easy to flush it away. That’s why units in sports betting are so important. But, precisely what are units? And what are the different betting-unit methods?
If you want to learn the answer to these questions and more, you’re in the right place. In this guide, we’ll teach you everything you need to know about this essential sports betting concept. Let’s get started!
What Are Units in Sports Betting?
A unit refers to the amount of money you place on a bet. This amount is consistently ranked on bets meaning you’re not varying or straying from the unit. The amount of money in a unit will vary from person to person.
However, typically a single unit will consist of between 1% to 3% of your bankroll. What’s a bankroll? It’s the amount of money that you set aside for sports betting.
Some people space their bankroll out monthly, while others do it annually. Now, back to units. Units are essential for two reasons. First, it lets everyone disclose the level of risk they have in a specific game without talking about how much money they have on the line.
It doesn’t matter if you bet $15 or $1,000. Everyone is on the same page when they say a unit’s on the line.
Second, units standardize everything when it comes to betting success. This allows people to have track records that aren’t dominated solely by the amount of money they’re winning.
Why Betting Multiple Units Is Risky
It’s common practice to stick with one unit per bet. However, now and then, a game comes along that a better feels confident in. Typically in a display of confidence in the team (or pride), the bettor will put multiple units on the line.
However, putting numerous units on the line with a bet is rarely a good idea. Why? For one thing, it can cause you to reach for results that aren’t there. Predicting a guaranteed winner is never a sure thing, no matter how much it seems that way.
On top of that, betting multiple units is a slippery slope. You might start with a two-unit bet on a game you’re confident about. Two units can lead to five, and five can lead to ten.
At this rate, you’ll burn through your bankroll at a breakneck speed. Ultimately, it’s up to you whether or not you want to bet multiple units.
But, know that the practice is risky. That’s why we recommend staying consistent with one unit per bet.
Go Over Your Funds Before Selecting a Bankroll Size
Before selecting a unit size, you must first decide the number of funds you’re setting aside in your bankroll. Unfortunately, sports gambling as a legal phenomenon in the United States is relatively new.
It’s only been since 2017 that the Supreme Court decided sports gambling could be permitted in a state with their ruling in Murphy v. National Collegiate Athletic Association.
Because of this, many bettors are still learning the ins and outs of sports betting. This can lead to some pretty serious mistakes. The biggest mistake when getting started is thinking about how much money you will win with your bets.
If you let this dictate your bankroll, you will lose a lot of money. Why? Because losing is a big part of sports gambling. Remember that even the best professional sports bettors typically don’t hit rates that are over 60%.
If this were high school, every sports bettor would fail the class. So, if you’re serious about sports betting, you must be prepared to lose money.
Instead of asking how much money you can potentially win, you need to ask yourself how much you’re comfortable with losing. If you want to eat out less or go on fewer vacations so you can bet more, that’s your prerogative.
However, you’re in trouble if you’re relying on betting for income or paying your debts. So, decide on a bankroll amount and ask yourself honestly how much money you’re willing to lose.
Deciding On a Unit Size
Once you’ve decided on a bankroll amount, it’s time to determine a dollar amount to assign to each unit. As we mentioned in the article, the average single unit size is between 1% and 3% of your bankroll.
So, which one should you select? If you’re new to sports betting, we recommend sticking with 1%. Then, as you get more experienced, you can work your way up to 2% or 3%.
So, for example, let’s say you’re just starting, and your bankroll is around $3,000. If you take 1% of $3,000, you get $30. So, each unit in this situation would be a $30 bet.
As you get more confidence, you might up the unit amount to 3%, which would be $90. Again, we recommend starting small. See your risk tolerance before making bets that could lose you a lot of money.
What Are Some of the Betting-Unit Methods?
Before you run off to the best online sports betting sites like the kind found at https://www.bookmakersreview.com/sportsbooks/ you first need to decide on a betting unit method.
Every person can have their own unique unit betting method. That said, some tried-and-true methods have been known to work. In this section, we’ll be going over some of the most popular options.
Fixed-Unit Model
If you’re a newbie worried about losing money, then the fixed value sports betting method is for you. This method is the most straightforward (and also the most conservative).
Basically, for every wager, you’ll bet one unit. It doesn’t matter how confident you are in a specific outcome. The amount of units that you wager never changes.
There are a lot of benefits that come with fixed-unit models. The losses can be much easier if you’re on a losing streak.
Moreover, the fixed-unit method makes it easy to track how much of your bankroll you’re spending. The downside is that if you’re on a winning streak, you won’t stand to make as much money.
Percentage Model
Next, there’s the percentage model. With this unit betting model, you’re basically including any wins you get in your bankroll into your unit amount. For example, let’s say your bankroll is at $3,000.
You bet 1% of that ($30) and win $100. That means that your bankroll is now at $3,100. So, when you bet 1% of your unit next time, it will be $31 instead of $30.
The benefit of the percentage model is the more you win, the more you will incrementally gain.
The downside is that when you lose a lot, it can be hard to recover from. Remember that the more your bankroll dips, the less money you can put forth with each unit.
Variable Model
The variable model involves betting multiple units on bets that you are confident about. Now, we have already mentioned the dangers that come with betting numerous units.
That being said, there is a time and a place for it. For example, let’s say you do hours of research into a specific game. The data you get increases your certainty that a particular outcome will occur.
By betting multiple units, you stand to gain a lot more money with bets your confidence. Of course, the flip side of that is proper as well. You also lose a lot more money if you make a wrong call.
Because of this, we recommend only using the variable method when you’re an experienced bettor.
Wait until you’ve been sports betting consistently for a few years. This will give you the valuable insight you need to use this more risky unit betting model.
Creating a Strategy
If you’re a casual sports bettor, a strategy might not be that important to you. But, if you’re serious about getting better, it can help you make better calls down the line.
The easiest way to start forming a strategy? Start recording all information related to your bets in an Excel Spreadsheet.
When you have everything laid out in front of you, it can give you a better idea of what’s working and what needs fixing. From there, you can formulate strategies that fit your gambling style.
Appreciate Learning About Units in Sports Betting?
Keep Exploring We hope this article helped you answer the question, what are units in sports betting? For the uninitiated, sports betting units might seem unnecessary.
But, any seasoned bettor knows they’re vital for maintaining your bankroll. So, if you’re serious about betting on sports, make sure you figure out your unit strategy as soon as possible.
Enjoy learning about this gambling topic? We have plenty more to choose from on our website so keep exploring to find them.