In the realm of betting on sports and other gambling activities, The key to success over time is found in sound bankroll management. Although there are several strategies that could be profitable, the most solid strategy to be followed is progressive betting.
How do you define progressive betting? Progressive betting means you adhere to a predetermined amount per bet based on the amount of money in your bankroll before increasing the amount you bet as the profit increases from the start. Similar methods are employed in conjunction with many instruction orders for games similar to gambling like blackjack and craps. The advice is usually different, according to the author.
However, I prefer an approach that is more cautious than many because they are more likely to advocate a dangerous and risky strategy after you’ve built up your money.
If you are betting in sports betting, discipline will not happen easily for a betting bettor. It’s a skill that needs to be mastered to achieve long-term success with sports betting if you have put in your time and effort to build a handicapping knowledge base with a steady win rate.
Let me present an example of an effective method of conservatism that simultaneously allows you to maintain the right track. Be aware that when you play, it is inevitable that fluctuations will be inevitable. Hence, it is essential to weather losing streaks, which could wipe out any gains you made previously along with the initial money you began with.
Let’s say that you have $2,000 in your bankroll, in which case, you can place that money in an online sportsbook that is reputable or put it aside for your betting on sports future endeavors. In this scenario, the ideal size of the unit should be $40 to win $40 each game. It is approximately 2 percent of your bankroll playing. Many experts will advise you to bet between 4 and 5 percent. The risk when you go with a higher number is the restriction of your flexibility if you experience a long losing streak. It could take some time to build your money. However, you must be aware that betting on sports is much like running a marathon and not just printing.
Based on the above information, suppose that you’re making an average of 1 bet per day over the entire year and came up with an impressive overall record of 150 wins and 210 losses. When you consider the house’s juice per bet, you’re left on top of the market with approximately 50 units or $2,000 in addition to the initial amount. If you consider this, your initial deposit of $2,000 could have multiplied by one year to $4,000.
If your account is sitting at $4,000, you can increase your bet up to $88 from your initial size of $44. It means that you’ll keep the same two percent of the funds you have put in play, but you’ll now earn twice the amount you had started with. It is logical to accept that if you could have doubled the amount of money you had in your bankroll when you first started it, which was $2, you’d likely have a solid track record in your gambling performance, allowing you to put more money.
In all fairness, you do not need to get frenzied and put your entire profit in danger by increasing the size of your bet to a large extent. Instead of taking a big leap and risking your money, a moderate increase in the size of around three percent will increase the win percentage and still provide some safeguard against cold streaks to be able to rely on. In this scenario, you can begin to place bets worth $120 to make $110 per game, which is around 3.5% of your money.
If you opt to employ the method of 3, then all you’ll have to accomplish is clear 17 units to earn your next $2,000, as opposed to the case of 50 units required to earn the same amount at the time you first started.
When you’re more confident with this technique and begin to see steady positive outcomes, the next step might be to evaluate the value of your bets and incorporate it into a bigger strategy that can enhance your betting strategy.
Let me offer another example to help you understand the issues more clearly. Let’s say that your average number of units is $44 for each bet, but you are more confident in certain games in certain instances. In this scenario, you can declare that you are confident in that particular sport such that you’ll place bets of “2 units” instead of the initial and typical “1 unit.” It would mean that your stake could be increased by $44 up to $88 as it’s now a two-unit bet. It is vital to keep track of your bigger unit size to know if it’s worthwhile to increase your bet size. If you cannot demonstrate a winning percentage of around 65 percent on the high-confidence two-unit bets, continuing the process is not worth it. In this case, it’s better to stick with the basics and return to the 1-unit size for any bets.
Don’t forget, do not pressure yourself to increase the number of your bets if the amount of money needed is uncomfortable for you. Maintain a performance tracker to determine if you should stop a certain aspect of your betting plan. You’ll surely gain knowledge and experience through the process, and this will help you evaluate your situation and come up with the correct adjustments as it needs to be made.
While you’re at it, the most effective method I’d recommend to someone just starting is to keep their best in a regular-size unit, particularly if it’s producing a high winning percentage. There’s no reason to get too involved quickly and risk losing everything because you were too overly greedy.