Winning is a great feeling, especially when you win against a bookie. That is not an easy job, but it’s a possible one. The thing many bettors underestimate is the amount of money they plan to use and the paths they follow in order to lay a bet.
Very few of the plungers reach a long-term gambling profit. With other words, about 10% of the people using the right game plan and have the patience to prepare every stake, are on a winning streak. They also use some betting strategies, that we have explained in other articles, that you can find under “STRATEGIES” on our website.
Another pin to a winning tactic is the ability to keep your bankroll separate. Simply said, you need to have both a betting bankroll and a daily expenses bankroll. Make sure you keep them distinct. Like that, you will be able to control and keep track of what goes in and out of your wallet. Actually, the amount is up to you to determine. However, make sure it is affordable. Think of it as money, that you are prepared to lose.
Numerous players seem to miss-out the importance and role, that using a bankroll management and a stacking plan, keep the winning element on your side. Who doesn’t want that nifty strategy at their advantage? Well, keep your betting visions and set of tactics in long term perspective. Keep in mind, that being a mastermind in picking winners is not enough to gain a profit. It also requires long term goals, significant budget calculations and proven formulas. Where to find all of that? Not to worry, our website is the treasure map you need.
Nevertheless, when you think to bet just for fun, positively pick a weekly or a monthly budget. Like that, you can decide how much money you are prepared to gamble. You will also easily keep a record, how many wins and losses you have. With neat data like that, you can stop betting at any time, if your full weekly or monthly budget is lost.
Be wise and outsmart the bookmaker.
What is a bookie
The bookies are one step ahead of every bettor. They are the ones, setting all the odds for every game. Like that, they set a winning strategy using an effective margin, which generates a profit on every bet they take. That is definitely a moneymaking strategy, which can be overcome. Well, that takes an extra effort and a will for knowledge. Nevertheless, every successful plunger is really knowledgeable about the area they bet on. They also get familiar with every approach there is, connected to the betting industry. What is more, all the hard work, that leads to a winning situation is almost like a mirage, if you don’t recognize the significance of a correctly managed money flow. With other words, one major part of beating the bookies is the money management, also known as a bankroll management.
Furthermore, a poor management increases the chance of bad betting choices and unpleasant experiences in that field of action. By the same token, it can also decrease your chances of gaining a profit. That is why, specifying a budget is stage one of preparing a sum of money, that you will risk losing. Next step is allocating that particular amount of money and use it entirely for betting occasions.
After determine that sum of money, you need to establish a set of rules, which will guide your punts. The base for these rules should be built on your budget, your stake goals and the way you lay your bets. Succeeding in the allocation of a bankroll and combining it with an accurate management, is followed by choosing a proper staking plan. The finishing touch, is actually applying all the above into the wagers you lay on a daily basis. For more ideas how to beat the bookies, feel free to visit the “BLOG” part of our website.
What is Staking Plan
Every successful betting system needs an edge. When having that, each punter requires one more thing – a well-planned staking strategy. All of which have a simple goal – to increase the profits, that a gambler can gain. Those wins are above achievable, thanks to a simple level staking. A staking plan is set of rules, which help you calculate how much you should lay on each stake. It helps you define how much of your bankroll you should gamble every time. This edge, that you have on any wager, is essential.
Basically, the percentage of bank stakes is a kind of staking plan, bound with your betting bank. With other words, the percentage you bet stays the same, but the amount you gamble will vary, depending on your betting bank size. The stakes will decrease or increase accordingly. Furthermore, you get to choose a set % value for every type of bet you ley. In this line if thinking, that method protects you as a gambler. It prevents you from risking your entire bankroll single-handedly.
This type of staking plan is effective, when used properly though. The fixed % which you bet, helps you keep track of the relatively sized bank and proportionate ups or downs, connected with your betting budget.
Here is an example, which will help you understand the percentage stake plan method even better:
Let’s say, your bank is 1000 euro and you decide to bet 5% of that amount, which is 50 euro. Thereafter you decide to place another bet, will you do that calculating your wager from 960 euro or from 1000euro bank? Very important for that type of staking plan is to know, how much money you have before calculating the % for your next gamble. Moreover, you are protected and loosing a lot of money quickly is not on your schedule. In order to do that, consider betting no higher than 5%. Remember, if you hit a winning run, keep on being cautious when calculating your next bet, according to the money in your bank.
One more time your bankroll is 1000 euro and you start betting with 5% of it. The things roll like this:
– lose 50 euro with 2.5 odds – your total bank remains 950euro;
– lose 47.5 euro with 3.0 odds – your total bank is 902.5euro;
– lose 45.13 euro with 2.5 odds – your total bank decreases to 857.37euro;
Your next bet will be 5% again, but this time the stake will be out of 857.37euro or:
5% x 857.37 = 42.87euro
After few bets, your stake is notably lower that 50euro, or your first one. What is more, you will not be rewarded as high as your first wager. Bare in mind, that even when you hit a homerun of winning bets, keep on gambling with no more that 5% every time. Be patient, focused and calculate with precision on daily basis.
In a few words, the Kelly Criterion is a formula, that helps gamblers determine the ideal range of series of bets. Here, in order to work the size of the bet out, the formula is using a calculation. The figure at the end plays the roll of your bankroll. The equation itself has the following components:
d = decimal odds minus 1; s = probability of success (it is between 0 and 1);
f = probability of failure (1 minus ‘probability of success’)
and here is the formula: STAKE = ((D x S) – F) / D
Here is a quick example how and what the formula determines. Let’s say, that your bankroll is 500 euro. You consider yourself a winner, because you have picked a bet and you have an edge on it. You are sure, that a particular team will win the following game with 55% certainty. A bookmaker offers you even money, let’s say 2.0 in decimal odds. What is the first thing to do? That is correct, study your three variables. In our case those would be as follows:
d = 1.0 (the decimal odds of 2.0 -1); s = 0.55 (the 55% chance of success)
f = 0.45 (the 45% chance of failure)
and the formula will look like: STAKE = ((1.0 x 0.55) – 0.45 / 1.0 = (0.55 – 0.45) / 1 = 0.1 / 1 = 0.10
With stake of 0.10, you will use that figure to multiply your bankroll. In this example, the stated bankroll was 500 euro, so that should stake 50 euro on the team.