The bankroll is the budget set aside for betting, and for nothing else. The unit is the reference stake, a small share of that budget. These two decisions, made with a cool head and once and for all, are the first line of defence against the biases of module 3.
The bankroll is the budget set aside for betting. It is kept apart from everything else: it is never mixed with the money you live on.
Nor the bills, nor the shopping, nor anything needed for everyday living expenses.
Nor anything put aside for a plan or for the unexpected.
The basic rule: only put in what you accept to lose entirely, without it changing your life.
The unit is the reference stake, expressed as a percentage of the bankroll. Each dot below represents 1 % of the bankroll. Choose a unit, then run a string of losses to see how many it takes to empty the budget with a fixed stake.
Key point: with a unit of 1 %, it takes 100 consecutive losses to empty it all; with 10 %, 10 are enough. Yet runs of 5, 6, sometimes 8 consecutive losses do happen (lesson 4.3). A small unit gives the method time to be judged over the long run.
The bankroll and the unit are decided on a calm day, before the first bet, never right after a win or a loss.
If the bankroll is empty, you stop. Topping it up in the heat of a loss is chasing your losses (module 3).
The deposit limit on the licensed site (lesson 3.3), where offered, should match this budget. It prevents you from going beyond what was decided.
If you bet on several sites, the total budget stays the same. Each site receives only a share of the decided budget, not an extra budget.
Tick each rule once it has been decided and written down somewhere (a notebook, a note on your phone). Nothing is saved or sent: the list stays on your screen.
0 / 5 rules written
6 questions. You need 5 correct answers to pass the lesson.
0 / 6