How to use units in sports betting. And why you should care.
How to use units in sports betting
Throughout the past few years, sports betting has become legal in over half of the 50 states with many more on the way. This new access that fans have to online sports betting has brought plenty of beginners to the table, but learning the basics and nuances of betting can make this experience that much better. Whether you are wanting to wager $10 or $1,000 on a game, understanding the concept of units can even the playing field for all sports bettors and assist in bankroll management along the way.
What is a unit in sports betting
A unit is a way to measure the standard bet that a sports bettor will make on any given wager. Regardless of the amount of money placed on a bet, utilizing the idea of units allows anyone wanting to bet on sports a way to track their progress over time. Someone who is a beginner and just getting started with gambling shouldn’t be pressured into discussing bets in terms of dollars with someone who is much more experienced. Depending on the sports bettor and their specific bankroll, a unit could be $10 or $100 but they can still share in the same conversation and discuss progress without divulging an amount of money in play.
Why do sports bettors use units?
A common question may be “why not just track wagers in terms of dollars?” “Why think in units when the bets that I am placing and the payouts I’m receiving are actual money?” A fair question to ask, but understanding the idea of bankroll management and unit size will allow an entry level gambler more long-term enjoyment.
Bankroll management is a crucial part of betting whether you are new to the game or have been placing wagers for years. Betting with units allows managing a bankroll to become that much easier. A common rule is that a unit should be equal to 1% of your total bankroll.
A bankroll is the total amount of money you have set aside for sports betting.
With how easy online gambling has made it to deposit money and place wagers, it is important to set a specific amount of money aside and know not to surpass that number. Making a unit 1% of that amount will make it easy to track bets over time.
For example, if a gambler’s total bankroll is $1,000 for the full NFL season, then this sports bettor should start out by wagering 1%, or $10, on any given game. The $10 number is what will be considered one unit for this bettor’s season. Everyone has a different amount of money they are comfortable wagering throughout the year but by talking in terms of units instead of dollars, this $10 bettor can have the same conversation as someone who is placing $1,000 bets.
Whether you're a $10 bettor or a $1,000 bettor, you can take advantage of BetMGM's First Bet Offer for an added level of protection on your first bet. If you place your first bet and it loses, BetMGM will pay you back up to $1,000 in bonus bets, depending on how much your stake amount (or unit, in this case) was. See below for more:
Sports bettors will track their progress throughout the year in terms of units. It is far easier to calculate being up a unit amount than a dollar amount. Take the bettor from before with the $1,000 bankroll betting with $10 units:
Let’s say this bettor has a record of 10-4 throughout the MLB season and that every bet was a one-unit play at even money odds.
- 10 wins = up 10 units
- 4 losses = down 4 units
- This bettor is up 6 units on the season
Instead of trying to calculate the amount of money put in vs the winnings that were paid out, it is very simple for this sports bettor to know that he or she is up six units on the season. In this specific case, six units would be the equivalent of $60.
Bankroll management
The first step in determining how much money your unit size should be is to properly set your sports betting bankroll. If you are a casual gambler and just looking to place some money on sports for enjoyment, then bankroll management is one of the most important parts in order to avoid developing a gambling problem. Your gambling bankroll should always be completely separate from your everyday, normal finances. For the casual gambler, the saying goes that you should never bet more than you're comfortable losing. This applies for also setting a bankroll size.
Gambling bankroll vs real life bankroll
Take a look at your overall finances and determine a sum of money that you feel comfortable separating from your funds. Your total betting bankroll should never surpass that number. Set the money aside with a betting site or sportsbook and don’t consider that money as funds that can all be used in the short term. If you are sticking to a clear plan for your unit size, which we will get into later on, this amount of money should be sufficient for a long period of time.
Oct 3, 2021; Arlington, Texas, USA; Dallas Cowboys running back Tony Pollard (20) runs for a first down in the fourth quarter against Carolina Panthers linebacker Jermaine Carter (4) at AT&T Stadium. Mandatory Credit: Tim Heitman-USA TODAY Sports
Starting bankroll vs ending bankroll
Your starting bankroll size vs your ending bankroll are two different things. For most, the amount of money set aside for gambling to start is not going to be the same as what you ideally would like to end with. Most people will begin with their bankroll being small and over time allow it to grow to where they realistically would like it. This allows you to test your strategies, strengths, and profitability with very little risk. Nothing is ever going to be risk-free but starting slow and learning what types of bets and sports work for you is what leads to more long-term success.
After determining how much you are comfortable setting aside as your season-long bankroll, it is then easy to use the 1% rule discussed prior to come up with your unit size. Sticking strictly to this betting guide allows sports gambling to be more for entertainment and helps keep it from becoming too emotional and stressful.
Determining unit size
After you have successfully determined the size of your starting sports betting bankroll, it is time to decide how much to place for your first bet. We discussed prior why utilizing units for tracking bets is so important, so now let’s further decide on the size each unit will be. As mentioned earlier, the 1% rule is a very easy guideline for beginners. If you are comfortable setting aside $1,000 for the extent of the NFL season, then your unit size should start out at $10. But just because a unit is set at $10 doesn’t always mean this is the maximum bet you can place.
How to successfully adjust unit size
As a way to show higher confidence in a certain wager, sports bettors will often place “multi-unit bets." This is the act of multiplying your unit size on one play. It can be a dangerous strategy to take on because losing two units can see a quick slide in your total bankroll. On the flip side, winning a two-unit bet can just as quickly multiply the total payout.
Successfully risking multiple units is also a way for sports bettors to potentially have a losing record but still be profitable over time. A successful handicapper may have a record of 4-6 for an NFL week but if one of the wins was a three-unit play, this gambler would actually still be up money. In this situation, it all comes down to confidence. If there is one game that you feel more strongly towards than another, differing your unit sizes is a way to invest in that confidence.
Another sports betting strategy for changing your unit size may be to adjust to a smaller bet; say .5 units or .25 units. For our $10 unit bettor, this would mean placing a wager of $5 or even $2.50. This could occur when looking at bets with higher odds such as underdogs or parlays. Take the below example from an NFL game and how a parlay can affect odds:
Buffalo Bills -130 vs Los Angeles Rams +110
Over 51.5 -110
If a sports bettor likes the Bills to win this matchup, they may be disappointed in the low odds for betting the money line. But perhaps this same bettor also thinks there will be a lot of points scored between these two high powered offenses. By parlaying these bets together in one wager, the bettor can lower their unit size and still end up with a nice payout. See below:
Bills money line (-130) + Over 51.5 (-110) = +238
You can use a simple parlay calculator to figure out these odds.
A bet of only a half a unit on this parlay would still pay out over a full unit of profit. This is a great example of seeing how a low-risk amount bet can lead to long-term profits. Of course, it is harder to win parlays, but losing this wager would only cost .5 units to this bettor.
How to place sports bets using units
A successful sports betting strategy isn’t just to always place a one unit bet and move on. Oftentimes the goal is to win one unit, not bet one. Since the majority of money lines or point spreads don’t have even money odds, it makes it trickier to calculate payouts. The most common example of this is a point spread with the odds of -110.
For starters, odds of -110 means that a $110 bet is needed in order to win $100. It is the same idea as to why the house always has the better odds in a casino. The sportsbooks need to have the edge, so they charge the bettor that extra amount when placing most bets.
In order to counteract this, a sports bettor tracking units will typically place a bet of 1.1 units on a point spread. This bet would pay out one full unit of profit. If this same bettor places a wager of just 1 unit, the payout would be .9 units and would lead to difficulty tracking overtime. Let’s check out odds for a college football game to look through different scenarios:
Team Spread Total Money Line
Clemson -7 (-110) over 55.5 (-110) -160
Notre Dame +7 (-110) under 55.5 (-110) +200
Now let’s see how much we should bet to gain a full unit of profit and also the dollar amounts needed for a gambler with units of $10.
- Bet 1.1 units ($11) on Clemson to cover the spread of -3
- Bet 1.1 units ($11) on the over 55.5 points
- Bet 1.6 units ($16) on Clemson to win on the money line
- Bet .5 units ($5) on Notre Dame to win on the money line
All four of those bets would profit one full unit but you can see as the odds change, the size of the bet can differ with the payout still being the same. This type of strategy can make it very simple for tracking units won or lost over time. It may also be good to have a betting calculator on hand for easy access to make this process even simpler.
Different unit-based betting strategies
As you can see, there are a number of different sports betting strategies to take when it comes to using units. Everyone has a different approach, and it takes time to find what works best for you.
Fixed unit model
This is the type of strategy where regardless of what the odds are, the bettor would place wagers with the same amount of money each time. One of the main positives of this type of betting model is that it makes it very simple to track all out-going bets and the amount of money being placed. Although this is a positive, a potential negative would be that this could reduce the upside this gambler has because most normal game wagers would not return a full unit of profit. There is also no way in this model to capitalize on a play that the bettor feels strongly about. Being able to adjust the amount of units being placed with a variable unit model allows more flexibility for the gambler.
Sep 12, 2021; Indianapolis, Indiana, USA; Seattle Seahawks wide receiver Tyler Lockett (16) catches the ball and scores a touchdown in the second quarter against the Indianapolis Colts at Lucas Oil Stadium. Mandatory Credit: Trevor Ruszkowski-USA TODAY Sports
Variable unit model
A bettor utilizing this strategy will mix up how many units are being placed based on their confidence level towards that play. If a bettor has a good feel towards one game that week, they will often double or triple their unit size to try to capitalize on their confidence. Being able to quickly add to the bankroll size by riding with a handicapper’s confidence is a huge positive to this model. This is also a model that allows a sports bettor to adjust a bet based on the line. As discussed prior, sometimes betting 1.1 units is actually a better play. The downside to all of this would be that missing a two or three unit play dilutes the bankroll in a hurry. There is oftentimes much more than just one unit at risk when utilizing a variable unit model.
Percentage model
This strategy is very similar to the fixed unit model except the main difference is that the unit size changes in accordance with your bankroll. As the bankroll increases or decreases, the size of the unit will as well. Begin by keeping the rule of 1% of total bankroll per unit but as you start to win bets you can increase that size. Once the bankroll is up to $1500, your unit is now $15 instead of the $10 starting size. There are definite positives from this model. The main one being that typically as your bankroll grows, it means you are becoming a more successful gambler. Adjusting your unit size by percentage allows for you to capitalize on the success you are having. However, much like the variable model, risking a larger amount on each unit can lead to quick losses during a cold streak.
Tracking your bets using units
No matter which approach or strategy you end up taking, nothing is successful long term without tracking your bets. Most handicappers will be able to tell you how many units they are up or down for a specific timeframe, whether that is a week, a month, a season, or a year. This can be done on your own using a spreadsheet or even just a notebook.
The other option is that almost all sportsbooks are now required to have a way to view your overall win and loss on the site. If you keep a consistent unit size, periodically checking this report allows you to easily convert the dollars to a unit measurement to gauge your success.
At the end of the day, sports betting should be fun. It makes sports more exciting to watch, and it should never cross the line to becoming an emotional or stressful experience. Set aside a bankroll, pick a unit size, find a strategy that works for you, and hopefully build up some profit over time.
