Before placing a wager on a game, you need to understand the staking plans available and conclude on the suitable option for you. If you have no idea what plan to execute, this post is the right one for you.
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Based on experience and expertise level, here are the different types of plans you can stake.
Fixed Staking Plans
Fixed staking is also known as level staking. It means your wager is flat or leveled regardless of the sport or the odds involved. However, the standard is not to go beyond 5% of the amount in your bankroll. For instance, if you have $100, you should only bet $5. This will allow you to keep betting on a wide range of sports without exhausting it in a short while. More so, it will reduce the risk involved, although it may yield a lower payout.
1. Bankroll Percentage Staking
Here, the amount you wager may change based on your bankroll value, but the percentage remains the same. In most cases, people keep a ratio as low as 2%. This ensures that even though your bankroll value increases, you will not stake too much of your money.
The good part of this stake is that you can easily adjust your wager from your bankroll after monitoring the success of your bet.
2. Bankroll Fixed Betting
This type of stake wagers all the amount in your bankroll. That is, you do not set a percentage or amount, but just put all your money into it. Whatever you want to wager is what you have in your bankroll.
Variable Staking Plans
Variable staking plans mean your wagered amount is not fixed but varies. The three most popular plans here are the Martingale system, Fibonacci sequence, and Proportional betting.
1. Martingale System
This is the most popular type of variable stakes. It means you will increase your wagered amount when you lose and reduce your wagered amount when you win. When a bettor eventually wins, he gains back all the lost money. However, you need to set a base betting unit for the Martingale system.
Here is how it works;
For example, you set your betting unit to $5, you keep increasing it by $5 as you lose, and reduce it by $5 whenever you win.
2. Fibonacci Sequence
The truth is, the Fibonacci sequence is more complicated than the Martingale system, but you can scale through with the knowledge provided in this article.
It deals with a sequence of numbers, starting with zero, while bettors need to set a base unit. In sequence arrangement, the following number is usually the sum of the two previous numbers. When a bettor wins, the sequence moves the bet lower, while the bet moves up when a bettor loses.
3. Proportional Betting
The amount you wager in proportional betting depends on your total bankroll. This type of betting is more of a mathematical approach and would need intellectual reasoning.
It uses the calculation known as the Kelly formula, which is;
B stands for the result of subtracting one from the decimal odds.
P stands for the chances of succeeding
Q stands for the chances of failing
No single plan suits everyone. A bettor needs to choose a plan that works best for him. Since there are not the same individuals, you need to select a betting system that works best for you carefully. However, consider the risks involved, the amount in your bankroll, your betting goals, and your betting styles. After identifying this, you are good to go.