You have developed your deployment strategies. They know everything about value. And you are already successful with your sports betting with a first-class provider like Mr Green. But that’s not all you need. Finding the right bets is of course key to successful betting. Sound money management is just as important, however. Without a conscientious plan for managing your betting budget (bankroll), you can soon be left empty-handed, even if you follow a fundamentally successful betting strategy.
The basic principle of bankroll management is based on a strong defense of your budget against losses. Everyone, no matter how successful, will sooner or later have a streak of bad luck. With good money management, you can easily survive such phases and stay in the game. Solid bankroll management also gives you a psychological advantage. Chasing losses is one of the great dangers of 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 most acute threats to the health of your betting account. With consistent bankroll management, this shouldn’t happen to you. How much you risk on a bet you shouldn’t decide on your gut feeling. Especially after losses or gains, you should continue to pursue the well thought-out strategy you have chosen.
Are you about to lose? It may sound strange, but most of all, any successful bettor must be able to handle losses. In the long run these players benefit, but in the short term the results are very volatile. To be sure not to 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 make a living with!
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 losing streak calculators on the Internet that will help you out and tell 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 of circumstances. And most importantly, you will stay on the winning road in the long run.
‘Level staking’ is the simplest form of fixed betting pattern. With this strategy, you place a fixed amount on every bet. As your bankroll grows, so do your wagers. If you are unsuccessful for a long time, you automatically bet less and less with this strategy.
The main advantage of this strategy is its ease of use. If you have previously determined your theoretically longest losing streak, this number should be kept 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 every bet. If you want to be even more careful, there is nothing against using only 1/30 of your account. In this case, if you have € 300 available in your betting account, this would correspond to a stake of € 10.
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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 stake as the ratio of the chance of winning to the winning rate. The computational details of the formula can easily be looked up by players interested in it at Wikipedia and numerous other articles on the Internet. There you will also find a number of practical examples with explanations that are easy to understand.
The problem with this strategy is obvious. If we had determined the not atypical value of 0.1 (= 10% of the existing betting capital) using the Kelly formula, this value shows that you will not last long with your budget, even if you lose Set an ever smaller percentage of your capital according to the formula. This way, if your estimation 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 it sacrifices parts of your potential profits in favor of reduced risk.
This exotic-sounding bankroll management strategy is based on the Fibonacci sequence that the mathematician of the same name introduced in Italy in the 12th century. A Fibonacci sequence starts with the digits 1 and 2 and always combines the last two digits of the sequence to get the next digit. So the first 10 digits are: 1 – 1 – 2 – 3 – 5 – 8 – 13 – 21 – 34 – 55 etc. With a stake of € 10, you would be € 10, -, 10, -, 20, – Bet 30 and 50 in the first five games if the first four are invariably lost. If you lose, you always bet according to the next Fibonacci number. If you win, you always go back two numbers: If you won the fifth round, you bet € 20 again in the sixth.
When you bet with the Fibonacci method, your bet is determined by the Fibonacci sequence. The mathematical details do not belong here and can be looked up on the Internet at any time. If you lose a bet, you go one step further and bet according to the next higher Fibonacci number; if you win, you take two steps back.
The advantage of Fibonacci is that the stakes rise a little more slowly on a losing streak than many other strategies, and that you can make up for the losses from five consecutive games with three successful rounds in a row. If the bad luck lasts for a long time, however, you will also reach very high stakes here very quickly, from which you will only slowly come down again through sustained profits.
Just like the Kelly criterion, this approach can lead to extremely high losses because the stake is increased with every lost bet. However, if you approach things carefully and rationally and are aware of the potential big loss, the Fibonacci Method can be a dynamic bankroll management strategy with lucrative profit opportunities.