Lesson 6 of 9

Bankroll, tracking and taxes

How much to bet, how to know it is working, and what to keep for April.

  1. 6.1Staking: how much, and why not moreKelly, fractional Kelly, and the arithmetic that makes a bad run survivable.
  2. 6.2Unit sizing: how much one bet should beA unit is the stake you treat as one normal bet, usually 1–2% of the money set aside for betting. Keep it small enough that a long losing run is an inconvenience, and scale it with your bankroll.
  3. 6.3How to track your sports betsRecord every bet — book, market, selection, odds, stake, how it was funded and the closing price — and review the results by book and market. An incomplete log flatters you without looking incomplete.
  4. 6.4ROI vs yield: measuring whether betting worksYield is profit ÷ total staked, the return per dollar bet. ROI in betting usually means profit ÷ bankroll. Neither says much over a few hundred bets, and promo profit inflates both unless kept separate.
  5. 6.5Gambling winnings and taxes in the USIn the US, all gambling winnings are taxable income, W-2G or not. Losses can be deducted only if you itemize and only up to your winnings — and from tax year 2026, only 90% of them.
  6. 6.6Responsible gambling for advantage bettorsBet only money you can afford to lose, decide your limits before you start, and treat the warning signs seriously even when the maths is on your side. Free, confidential help is a call or text away.