Unless the wager is an occasional recreational type bet, the more frequent and serious gambler must start with a bankroll to finance the endeavor. Of course, this is money to be used as an investment, not money needed to pay bills and living expenses.
Assuming all straight bets are the 11:10 payout ratio, a rule of thumb is to make every wager size 5% of the starting bankroll. Working this backwards, if a bettor wants to wager $110 to win $100 for each bet then divide $110 by 5% which yields a $2,200 starting bankroll. This gives the gambler 20 equal betting units to start the season.
Working it from the bankroll side, if a gambler has $10,000 to fund the gambling effort then the individual wagers would be to lay $500 to win $454.54 using the above criteria. Here the sports bettor may want to up the starting bankroll to $11,000 to make it an even $550 to lay to win $500 per bet. (Take the starting bankroll amount and multiply by 0.04545 for the size of a winning wager payout).
There are a variety of money management schemes. Gamblers can either place the same wager amount for all bets or place a different wager amount per contest depending on the real time size of the bankroll. For example, if the bets are winning and the bankroll is growing, the size of the individual bet could increase. A drawback to this approach is that the eventual losing bet will be a higher losing amount than the last winning wager amount. On the flip side, if the bankroll is decreasing in value, the size of the individual bets would decrease. This betting strategy has some merit as it will extend the bankroll for a longer time during losing periods.
The betting bankroll discussion presented here is a guide only. Individual gamblers have different risk rates and objectives and should bet accordingly.