Bank Roll Management
We always recommend new members set aside a “Betting Bank”. This is money you can afford to lose and won’t affect you paying rent or putting food on the table. If you are not in a position to do this I highly recommend you cease betting until you are in a position to set aside money to play with. As in everything Profit is not guaranteed, if it was everybody would make a comfortable living and Bookie’s would go bankrupt.
How much to Bet?
We recommend you bet 1% of your betting bank per bet. So for example if you start with a €1,000 betting bank you will be betting €10 per bet. If you want to play it even safer you can choose to use 0.5% of your bank per bet. This sensible staking strategy will mean you won’t lose all your bank even during the worst losing streaks.
Betting Banks should also be”dynamic” so if your bank increases to €3,000 you should in turn increase your unit bet size to €30 (1%)
If you’re not following this strategy you run the risk of blowing your betting bank during a losing streak, every professional bettor has bad losing streaks, this negative variance is unavoidable even for the most trusted and tested betting models.
The bookmakers advantage is in the margins they set. This is commonly referred to as the “Over round” The larger the Over round the higher the bookies margins are. One of the bookies with the lowest industry over rounds is Pinnacle Sports however this is not currently available to UK clients unless they go through a brokerage firm.
We wrote an article on why this is the only bet type you should ever consider. Have a read and try to wrap your head around it if you’re not already familiar
*If all of your selections have +EV then placing a multiple is fine, however most of the time this isn’t the case
Why the Odds are paramount to success
If you can’t take advantage of the best possible price on the day you will be missing out on oppourtunities to increase your long-term profit. You might think to yourself “A winner is a winner I don’t really care about the odds”. You must get this mentality out of your head. Making money from gambling is all about getting a slightly better edge on your bets. Bookmakers for the most part are very good at what they do and prices generally reflect the % chance of that event happening.
Get Rich quick!
A lot of people sign up for our services expecting to get rich quick, this is not a possibility. We must play the long game and try to bleed the bookmaker over the long-term. If you’re following our premium Tips and want to have a positive ROI (Return on investment) at the end of the year you need to follow the advice outlined above.
Track Profit and Loss
Track your Profit and loss using your own stakes and odds at Bettin.gs this way you can look back and study where you’ve been going wrong and how much you’ve actually been winning/losing.