You have developed your deployment strategies. They know all about value. And you are already successful with your sports betting with a first-class providers. But that’s not all you need. Finding the right bets is of course the key to successful betting at non GamStop bookmakers. However, sound money management is just as important. Without a conscientious plan for managing your betting budget (bankroll), you could soon find yourself empty-handed, even if you have a generally successful betting strategy.
Basic Principles of Betting at Non GamStop Bookmakers
The basic principle of bankroll management relies on strong defense of your budget against losses. Every bettor, no matter how successful, has a streak of bad luck sooner or later. With good money management, you can easily get through such phases and stay in the game. Solid bankroll management also gives you a psychological advantage.
Chasing losses is one of the biggest dangers in betting. The other danger is taking too much risk on your next bet. Because: After a successful bet, self-confidence usually increases. These are the two acute threats to the health of your betting account.
With consistent bankroll management, this shouldn’t happen to you. You shouldn’t decide how much you risk with a bet based on your gut feeling. Especially after losses or wins, you should continue to pursue the well-thought-out strategy you have chosen.
Are you about to lose? It may sound strange, but every successful bettor must, above all, be able to deal with losses. In the long run these players benefit, but in the short term the results are very variable. To ensure that you do not fall victim to these fluctuations, you should always have a sufficiently filled betting account. And this betting account must be completely independent of your other finances. Never gamble with money that you have to use to make a living!
The size of your bankroll determines how much you can bet on individual bets. First, you should calculate your longest theoretical losing streak. There are many calculators on the Internet that can help you out by telling you how likely it is to lose a certain number of bets in a row. If you incorporate this information into your ideas, you can withstand even the worst circumstances. And most importantly, you stay on the winning track in the long run.
Level Staking at Non GamStop Bookmakers
‘Level staking’ is the simplest form of a fixed betting pattern. With this strategy, you bet a set amount on each bet. As your bankroll grows, your bets also increase. If you are not successful for a long time, you will automatically bet less and less with this strategy.
The main advantage of this strategy is that it is easy to use. If you have previously determined your theoretical longest losing streak, you should keep this number in mind for the size of your bets. An example: The longest possible losing streak you determined is 20 bets in a row. Then you could use 1/25 of your starting capital on each bet. If you want to be even more careful, there’s nothing wrong with only using 1/30 of your account. In this case, if you have €300 available in your betting account, this would correspond to a bet of €10.
The Kelly Criterion at Non GamStop Bookmakers
Other players prefer to use the so-called Kelly criterion. This is a variable deployment strategy that was developed in the 1950s. Your stake should reflect the value of the bet that you have determined or estimated (positive profit expectation).
The Kelly formula determines the size of your bet as a ratio of the chance of winning to the winning rate. The mathematical details of the formula can be easily looked up on Wikipedia and numerous other articles on the Internet by players who are interested. There you will also find a number of practical examples with generally understandable explanations.
The problem with this strategy is obvious. If we had determined the not untypical value of 0.1 when using the Kelly formula (= 10% of the existing betting capital), it would be clear from the value that you will not last long with your budget, even if you lose bet an ever smaller percentage of your capital according to the formula. If your assessment of the bet is wrong, you can waste your money very quickly. To counteract this, many fans of the strategy do not place the entire calculated stake, but only half or a quarter. This is called Half Kelly or Quarter Kelly and sacrifices some of your potential winnings in favor of reduced risk.
