Managing your bankroll is every bit as important to the success of a sports bettor as the ability to find winners. The majority of professional bettors on average wager 1% of their bankroll per game. If you are very confident in your edge exceeding 54-55% (perhaps when playing CFB/CBB totals) you can get more aggressive and wager up to 3%-4% of bankroll on a single play. Determining your level of aggression can be impacted by how replenishable your bankroll is.
One popular strategy to consider is the Kelly criterion, which determines optimal bet sizes for a series of bets based on a projected edge. Determining edge can be difficult for less advanced bettors. Many take a more conservative approach and play ½ or ¼ of Kelly recommendations to help lessen risk of ruin. Read more about the Kelly criterion here: http://en.wikipedia.org/wiki/Kelly_criterion
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