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Betting Stake Strategies – Learn How Much To Bet

Successful bettors are the ones who can recognize the value in a particular sports betting market either out of a gut feeling or based on a mathematical model. So, if you are not a hobbyist sports bettor and want to cement your success in the long run, then here are the sports betting money management strategies you must know.

If you are good with betting, you know that once a value has been identified, the real struggle is to set up sports betting staking plans to make the most of the value, without risking the entire bankroll. Betting bankroll management is one of the important characteristics that all successful bettors possess, if you want to be one, you have to learn too.

Betting Money Management Strategies For Success

Most novices think that long term betting success is about finding the right opportunity but professionals know that to be a successful long-term sports bettor, you need an eye for value opportunities, in-depth knowledge of the game you bet on and management skills to maintain your betting bankroll. It is the ‘managing the betting bankroll’ part where most punters struggle. If you master the bet staking skills, then you can optimize any identified value and minimize risks.

Don’t worry if you don’t know how to do that. OddsMax is going to put you on the right path by discussing the most successful sports betting staking plans that are used by bettors for better money management.

Finding the right opportunity is important but bet staking the right amount is even more so.

Bankroll Strategies

Sports betting strategies vary. If you do a simple Google search you will find dozens of strategies to wager your money but they will most probably keep you confused especially the initiated ones. While there are some sports betting strategies that are proven to double your chances of winning, but you need to know more than just these strategies.

We have created this article for the inexperienced bettors who are not familiar with popular sports betting money management strategies that will give them a better understanding of the fundamentals of bankroll management. We sincerely hope the information below will help you to become a sport-gambler who achieves long-term profit.

What is your betting bankroll?

Simply put, bankroll is the amount that you are willing to risk by wagering on a bet. To become successful, it is important that you start with a bankroll that is enough to allow you to bet in a continuous manner which is essential for consistent growth.

OddMax recommends you to start with a small budget in your bankroll may be around $1000. Start with betting small units like 50 or 100, which means you have to divide the bankroll to be able to bet 50 to 100 times. It’s a small start but you need to start slow and build. Patience is a virtue here.

How much amount to wager on each bet?

An important part of successful sports betting staking plans is to know what the right amount to bet is. There is no one answer to this question.

As the betting strategies vary, there is a variable amount of money that is ok to bet. To know the best betting stakes, you have to understand the following sports betting money management strategies.

Betting Constant Percentage of the Bankroll 

A commonly followed betting stake strategy is to wager a constant percentage of the bankroll on each bet. This method operates under the assumption that the reducing bankroll will also diminish the amount to be bet, therefore, protecting a bettor, from losing his entire bankroll.

Problem with this kind of betting stake amount is that it is assumed that each bet is of equal value and that equal odds are offered by all the bets. Now for a minute think of a scenario where you are betting on two events-a sportsbooks is offering you odds of 1.70 favorite and 3.50 outsider, would you bet the same amount on both, even when the winning chances of the one is almost double?

The answer is clearly NO.

Furthermore, if you choose to bet on 1.70 favorites, can you guarantee that the probability of 1.70 favorite winning will be equal in all instances? There is no way you will get the same value every time.

The Constant Percentage sports betting money management strategy do offer you a way to manage your bankroll; it clearly fails to recognize the value which is the key part of successful betting.

Therefore, if you follow this strategy, you will only lose your money, not manage it.

Taking The Odds Into Consideration

An improved version of the Constant Percentage Strategy, here we also take the odds being offered into account when placing a bet.

Let’s understand it with an example.

Suppose you are betting 5% of your $1000 bankroll as a standard unit, i.e. $50.

Now you when you bet against 2.0 odds the unit remain the same but when you bet on the odds 11.00 outsider the unit amount changes to $5.

Here’s how:

(S1000 * 0.05) / (11.00 -1) = $5

This bet staking plan works when you are betting on outsiders, but when it comes to favorites this is not the recommended way of wagering. In such a scenario, you will end up wagering your entire bankroll on favorites.

This clearly highlights the limitation of this strategy to recognize the right value of a particular betting proposition.

The Kelly Criterion Betting Bankroll Management

One of the most popular sports betting money management strategies since the 1950s, the Kelly Method has stood the test of time to prove its worth. Although there are critics of this method, the advocates are too many. In this method, both the value of the odds offers and the probability of a team or a player winning are considered. The final value is referred to as the Overlay.

This betting staking method suggests that you bet more depending on great the Overlay is rather than depending on the odds alone.

This is how the overlay of a bet is calculated:

Value = (% probability multiplied by decimal odds) – 100%

Variation of the Kelly Method

Over the years, this method has been refined and now variations are available, although the fundamentals remain the same.

The Full Kelly

While it remains a proven method, the Full Kelly can take you on a wild ride and can suggest you risk a huge amount. There are instances when the Full Kelly method suggests that you wager 50% of your bankroll.

In Full Kelly method calculation is done as:

Percentage of a bankroll to bet = overlay divided by (odds minus 1)

For example, if you have an overlay of 20% with 2.40 odds, then this method will recommend you to bet 14.3% of your $1000 bankroll, $143. That’s a huge risk for such a small bankroll.

The Fractional Kelly

A conservative amendment over the Full Kelly method, in the Fractional Kelly sports betting staking plan you only wager a certain percentage of the recommended bet. When you bet 50% it is known as Half Kelly, 25% also called the Quarter Kelly or you can choose to bet any percentage.

It is seen that in the long run, the fraction Kelly methods gives better results than Full Kelly.

The Constant Kelly

It is similar to the Full Kelly method but it recommends you a percentage of varying amounts of overlay. Simply put, it does not offer you a recommendation based on the diminishing or improving bankroll, instead, it recommends a fraction of a constant amount irrespective of your bankroll.

You learn as you grow 

While there are dozens of betting bankroll management strategies available for you to apply, these are the methods we recommend you to start with.

OddsMax recommends that you start with the Fractional Kelly Method as it takes into consideration the odds, winning probability of a team or a player and the resulting overlay to recommend a value that optimizes the bet without risking your bankroll.

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