Financial management at sports betting is designed for reducing the risks and increasing the profit. If you bankroll management is chaotic, it is impossible to gain stable profit from bookmakers. Financial management is the management of the bet sizes and bankroll. Correct and organized actions allow avoiding great losses and providing stable profit. Flat betting Flat betting is a fixed bet size. Only definite sum of money or gaming bank % is used for one event. For example, $100 or 5% of balance. Advantage – reliability and minimal risk of losing all money. Disadvantage – to gain a profit you need 60-80% passability, depending on an average coefficient. Fixed profit The essence is in getting the defined winning from one wager. The sum is calculated due to the fixed profit – 3-5% from a gaming bank. Make a bet in such a way that a profit from one wager remains unchangeable. For example, with coefficient 1.75 the size is 6.6% and with coefficient 3.75 – 2%. Calculation formula – S=W/(k-1), where: S – sum; W – expected profit (winning percentage); k – coefficient. Don’t use quotations that are lower than 1.3 and higher than 5.0 as the probability (taking in account margin) is distributed unevenly. There exist a high risk to lose the bank but it will take some time. Bankroll percentage Bankroll percentage is one variant of Flat betting. Its difference is that the bet size will change after the win or loss. The percentage is taking not from initial bankroll but from the current. For example, instead of 5% from $1000 that were initially, but 5% from the current bankroll, let us assume $1100. The balance increases and the bet size increases and vice versa. Martingale strategy is the doubling of a bet after a loss (is used with coefficient 2.0). Advantage – you are sure to gain some profit at the end of a session. Disadvantage – bankroll is thrown away in a series of losses; the lack of money for next step. Anti-Martingale betting system The bet is decreased after a loss. The minimal passability for a stable earning – 75% under the coefficient 1.75. It is impossible to thrown away the bankroll that is why freshers should use it. The disadvantage – long-term winning series that will surely break up and, possibly, on maximal sum of money. Dutch betting system While using Dutch betting system not only the bet size but coefficient is immediately increased after loss. When you win, the series continue. Dutch betting system is useless. The higher the quotations are the lower the chances for a bet to pass are. Failures can happen when the probability percentage for an event is 50-70%. After 5 losses it is silly to risk with 20-30% of a bankroll under the coefficient 7.0. Several sessions can be still profitable but you won’t be able to earn every time, using this system. Oscar's Grind System Oscar's Grind System means you gain a profit in one unit during every session. The sum of a unit is determined independently – either a fixed size or bankroll percentage. The bet is increased with one unit after a winning and will be the same with a loss. The session is closed with two successful wagers. The essence of the Kelly criterion is in determining the sum of every wager using the following formula (k*V-1)/(k-1)=C, where: k – coefficient; V – probability; C – sum of a wager. Its effectiveness depends on correct evaluation of the outcome’s probability thanks to the analysis but not to bookmakers’ quotations. Here is an example of calculation. The D’Alembert system The essence of this betting strategy is simple: while a win the bet is increased with a sum of first base staking unit; while a loss the bet is decreased with a sum of first base staking unit; minimal coefficient – 2,0. Winning example: 1st wager – 1% bankroll, 2nd wager – 2%, 3rd wager – 3% and so on. Alternative or anti- D’Alembert betting system While losing the wagers are reduced with a chosen size and vice versa. You should remember that the sum of a first base staking unit should be large enough in order to be decreased on several steps. Miller's financial management The Miller’s strategy is a combination of Flat and Bankroll percentage. The author of this system proposes to bet 1% bankroll until the bankroll will increase up to 25%. For example, if bankroll size is $10 000 the bet size is $100 till the balance will reach $12 500. After this step the sum will be $125 (1% from 12 500). It is good for equally probable outcomes (50% & 50%). Minimal passability is 53%. The Up the Stairs betting system The essence of the Up the Stairs betting system is in beginning the betting series using one sum and to finish it at fixed amounts. The whole winning is used for the next wager. An example: wager ?1 – $100 coeff. 1.32 – winning 132; wager ?2 – $132 coeff. 1.5 – winning 198; wager ?3 – $198 coeff. 1.6 – winning 316. The session lasts either till the loss or the winning of fixed sum. Summary Financial systems don’t help to choose the correct bet but allow us not to lose the whole bankroll in one day. Good bankroll management is more important for a stable profit than high passability or ‘tasty” coefficients.
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