How Much to Bet per Game
There’s a lot to think about and remember when you are sportsbetting online. The key to your overall wagering strategy success should be your bankroll management. This includes sensible practices like deciding how much you can afford to bet in total, not chasing your losses, choosing the bonuses that work the best for you and keeping your wins and deposits at online sportsbooks separate so that you do actually turn a profit.
Aside from all the good sportsbetting advice on staying calm and looking after your playing funds, you also need to decide how much money to put down on a game to begin with. And that is where this review or advice column comes in!
Fixed Staking Plans
Fixed staking plans are your most straightforward betting option, so if you’re new to online betting, it’s a good place to start. Level staking is the easiest form of fixed staking, and involves betting the same amount, or unit, on every wager. This should usually be about 2% of your original bankroll.
The only issue with a level staking plan is that it doesn’t adjust to how much you have won or lost. If you keep losing, you’ll be betting a much higher percentage of your original capital, and if you keep winning, it will be much lower. To balance this, a percentage staking plan is recommended; keep the percentage the same, but consider your current bankroll for every wager. If you have $1000 bet $20; if you have $800 bet $16.
Variable Staking Plans
In variable staking plans, you still base your bet size on your bankroll, but more factors are taken into account and the mechanics are a little more complicated. The key difference between a variable and a fixed staking plan is that in a variable plan, you change what you bet according to what you know about an event – within reason. That’s why these are better for more experienced punters, who have more insights into whatever sport they are betting on.
In a confidence level variable staking plan, for example, you simply consider how confident you feel about a result. You might bet 1% for low confidence, 3% for high confidence and 2% if your confidence falls in the middle somewhere.
You can also choose to base your variable staking plan on potential return, meaning you want to get the same return for every bet that you place. Stick with a small bankroll unit such as 2% to bet with, and then adjust that according to the specific odds.
The last plan to mention is the Kelly Criterion, which uses a mathematical formula to determine how much you should bet:
(bp – q)/b = f
Where b is the multiple of the stake that you could win, p is the probability of winning, q is the probability of losing and f is the fraction of the bankroll you should bet. It’s recommended by lots of serious gamblers, but it depends entirely on your own assessment of winning probability and then losing probability, which is simply the balance of the winning probability percentage. That means you need to be very confident of your ability to predict these percentages – and that this method is strictly for seasoned punters only!