How do I decide how much to wager on a play?

There are two decisions you need to make before placing a single bet.

First: Set your wagering bankroll. Set aside an amount that if lost entirely will not affect your financial life. This is money dedicated to wagering — not rent, not savings, not anything else.

Second: Bet exactly 2% of your bankroll on every play. As your bankroll grows your bet size grows proportionally. As it shrinks, so does your bet size.

From experience: 3% produces wild swings. Unless you are seasoned and have a strong stomach for variance, it will cause you problems. The higher the percentage, the greater your risk of ruin.

2% is the number I recommend. Your swings will be far more manageable and your exposure to negative variance significantly reduced.

Your bet size should rise and fall in step with your bankroll balance. I adjust my own bet size daily