In order for the bets to bring a stable income, you need to find an answer to two questions: “how to be in the black in a bookmaker’s office” and “how to distribute the bank correctly”. The second question is even more important. Financial management in betting is the means by which you can earn more in successful moments and stay afloat in periods of failure.
How to choose the optimal bet size?
A fixed amount
The easiest way to distribute your bankroll is to divide it into equal parts. With a thousand dollars, you can make ten bets of a hundred dollars or twenty of fifty dollars.
The number of bets into which the bankroll will be divided depends on the skill of the bettor. The higher the percentage of guessing events, the less often the player will lose money. This means that it is possible to increase the size of each bet and get more income from each.
Another division of the bankroll into parts depends on the type of bets that the bettor is going to make. For pre-match, it is enough to make ten bets and forget about them until the payout. If we are talking about in-play, it is better to have a large reserve of bets: it will be necessary not only to make the main bets, but also to insure some pre-match bets, and there will be favorable options, and it is better if one or two bets are left in reserve.
Fixed bets are the easiest for bettors to accept: it is always clear how many bets are left and what the result will be in case of winning or losing. Fixed stakes are dangerous for beginners – you can quickly lose the bank. For the strategy to work, it is necessary to guess more than fifty-five percent of events with odds of 1.8-1.9.
As an alternative to the first method with an equal amount of bets, a strategy using a fixed percentage of the bank is often used. With this approach to financial management in betting, the player never knows in advance how much he will bet on the next event.
Let’s say a bettor has $1,000 and decides to bet at a rate of 5 percent of the bank. In this case, the first bet will be $50. And the bettor will have to wait for the results of this bet.
If the bet played at odds of 2, the bettor now has $1,050 in the pot. The next bet is defined as 5 percent of this amount, i.e. will be $52.5.
If the bet is not played, then $950 is left in the pot. The next bet will be less – $47.5.
Using such a strategy, the bettor can practically not go bankrupt, as the betting amount in case of frequent losses will be reduced, not allowing a quick expenditure of the bank. For the same reasons, the wagering process becomes more difficult. From smaller bets the winnings will be less. The bettor will have to make more bets.
Bettors offer another answer to the question of how to properly allocate the bank. According to the fixed income strategy, it is necessary to form not the bet – what the player can lose, but the winnings – what the player wants to gain.
Let’s say a player has $1,000 and wants to earn $50 from each bet. Next, you need to start with the odds. If they give 1.5 for the victory of the team, the bettor will bet $100 and will hope for the desired outcome. In the case of success, the bettor’s bank will be $1,050. And the next better will calculate the same way: based on the odds and the desired income.
The strategy is good from a profit forecasting point of view – a bettor always knows exactly how much he will earn with a certain success rate of his predictions. On the other hand, chasing after high returns at low odds can quickly drain a player’s bank.
To be frank, a floating betting strategy cannot really be called a strategy. This strategy involves changing the bet amount depending on the bettor’s mood. If there is confidence that the bet will play, you can raise the amount. Otherwise – lower. Bet can be raised to win back the loss, you can lower, so as not to run into an unexpected outcome.
The motivation for changing the amount of bets should be solely rational. Under no circumstances should you give in to emotions and do it rashly. Otherwise it is not following a strategy, but the first steps to the loss of the bank.
Major mistakes in bank management
Wah-banking is probably the most common mistake first-time players make. It is usually emotional, either negative or positive.
Usually it looks like this: a player makes some bets and loses. Then he sees an event with good odds which is sure to win and the winning should cover all previous losses. The player bets all-in and looks forward to the outcome. In this case, the bettor from a sports analyst turns into a participant of the lottery, giving the chance to dispose of their money. This is wrong. The bettor should always be in control of the process. It is better to switch to a fixed percentage strategy and try to win back your bank gradually.
The opposite situation with the va-bank has a slightly different development. If in the first case the player is driven by desperation, then in the second – by greed. Let’s say the bettor makes bets one after another and they bring a steady income. The bettor is happy and projects success for many bets ahead. He tries to bet all the money and wins again. After such a bet he is no longer afraid of anything and begins to make va-banks one after another. But this series cannot last forever. The same ending awaits him as the bettor from the first example.
The conclusion is simple: va-banking is not the way to play.
Increasing the amount of bets in case of victories
All bettors have good stretches when they have above-average performance. It is important to remember that these are just stretches, and these stretches cannot last forever.
Let’s say the bettor played a fixed-sum betting strategy and guessed nine outcomes out of ten. At an average odds of 1.6 and the amount of bets of $ 100 bettor’s income was 9 * 100 * 1.6 – 10 * 100 = $ 440.
The bettor decided not to follow the strategy and increased the amount of bets doubled. Unexpectedly, the performance has fallen as well: only three events out of ten have been guessed. Total bettor has 3 * 200 * 1.6 – 10 * 200 = -$1040. If the bettor had bet $100 each, the loss would have been only $520.
The same is true in the opposite direction. If the bettor loses a lot, he tries to reduce the betting amount. But by doing so, he does not reduce his loss, but deprives himself of the opportunity to win back when there is a successful series of bets.
There are financial strategies that can be alternated without losing effectiveness, such as a strategy with a fixed amount of bets and with a fixed percentage. The bettor can easily switch between them depending on the manner of play.
However, in some strategies breaking the sequence of steps is only to the detriment. For example, a catch-up strategy should not be interchanged with anything. If the bettor decides to “catch up,” he should either catch up before wagering or not start catching up, because an incomplete catch-up is a net loss.
Lack of Statistics
The most important thing in betting is to keep an eye on the stats. Not just any players or teams statistics, but your own as well. It is necessary to keep a table, which will show the entire history of bets – the amounts, odds, total bank, events and notes. Winning bets should be marked in green, losing bets – in red, returns – in gray. This way you will see the big picture and it will be easier to choose a strategy.
A big mistake bettors make is trying to memorize their statistics. Good things are usually remembered. A series of unsuccessful bets will be justified by the subconscious bettor one or more successful bets. But this is a fragmented approach. On large numbers, the accuracy of memory decreases and the bettor begins to make more and more emotional decisions.
To be in the black at the bookmaker’s office, it is important to do two things: choose the right financial betting strategy and in no case deviate from it: do not give in to emotions and do not make at least basic mistakes. Any step to the side can not only bring future losses, but also render all previous actions meaningless.