Do I need to adjust my bankroll when value betting?
If you frequently turn over a majority of your bankroll every day, it makes sense to adjust your bankroll continuously. The reason is that the Kelly stake sizing is calculated using your bankroll. If you have half your bankroll in unsettled bets, and still calculate stake sizing based on your full bankroll, you are taking more risk than you might want and variance will increase.
On the other hand, if you have a larger bankroll and only turn over a small percentage of it every day, there is little need to update your bankroll. Also, if you bet with just a small part of your entire bankroll, and use the rest as a reserve – you probably don’t need to make any adjustments.
Adjusting your bankroll automatically when value betting
When you are value betting, you will get the correct Kelly stake size even with multiple open bets. Just go to options and make sure Adjust for open bets is enabled. With this feature, there is no need to manually update your bankroll.