Staking Methods
One aspect of sports betting that is ignored far too often is how to use stakes effectively. There are many different potential methods and approaches you can take, but a lack of discipline in this area is one of the key reasons that so many struggle to make long term profits from betting on sports. A quick look at some of the more prevalent staking patterns in sports betting shows varying risk factors and potential profits:
Level Stakes
Level stakes betting is the easiest to understand, and one of the more popular styles of betting due to reduced risk and an ‘easy to adhere to’ nature. You use a set amount you’re comfortable betting, and stick to it for every single bet you place. Maybe you have £1,000 in your betting bank, and decide to bet £40/bet. You’re going to have to go through a dreadful run to lose your entire bankroll, but you can say goodbye to getting rich quick.
This is commonly used by semi-professional and professional sports bettors. Accountability is straight forward, and by betting a high volume of bets, small returns can become lucrative pretty quickly.
Level Profits
Similar to ‘Level Stakes’ above, but instead of always betting the same, you bet to WIN a certain value. Based on the odds, you will bet a certain value to win your desired amount. Here are some examples based on the aim to win £100 per bet:
Odds 1.50 – Bet £200 – Profit £100
Odds 3.00 – Bet £50 – Profit £100
Odds 2.00 – Bet £100 – Profit £100
Odds 6.00 – Bet £20 – Profit £100
Varied Stakes
Provided you remain disciplined, this can work. Betting within a range of values as opposed to the rigidity of a single stake used in Level Stakes can give some flexibility. Some (most) people have varying levels of confidence for their bets, so staking within a small and conservative range can help express this. Maybe you bet between 1-5% of your betting bank. This means you’re not going to lose it all in one bet, but if you’re feeling particularly confident, you can up your stakes slightly but still be in control.
Rolling Bets
Increasingly popular, but inherently risky, and not for the serious punter. Start with a set amount, usually small, and bet it all on one bet. If/when this wins, bet everything again on your next bet. The benefit of this method is that profits grow exponentially, and a few consecutive wins can really generate huge profits (much like an accumulator would). However, the main risk is that one losing bet and your entire balance has gone, and you’ll have to start again.
Don’t forget to set a target value and stop once you hit it! You can then start again and repeat the process, some examples of successful rolling bets are frequently shared/displayed on social media.
Fibonacci
A very risky option (potentially), but theoretically it can never lose. Take note of the word ‘theoretically’ before you adopt this approach thinking you’re soon to be a millionaire on a ‘guaranteed’ betting system. This strategy is based upon the notion that if you lose a bet, you increase your stake on the next bet to cover the losses on the previous bet. If the next bet loses, you increase the stake again so should it win, it will cover the amount lost in the first two bets. This goes on indefinitely. If you have an unlimited bankroll, it is guaranteed to make you money. However, very few have unlimited money in their bookmaker account, which is where the risk comes in. The more consecutive losers, the bigger your stake – this grows exponentially. For example, starting with a £1 stake at bet 1, you’d need to be betting £987 on bet 16, should your previous 15 bets lose. Odds have to be considered for this too, with odds needing to be above 2.62 in order to guarantee a profit. The Fibonacci sequence is a sequence that starts with 1, and each number is the sum of the two previous numbers – and starts as follows: 1,1,2,3,5,8,13,21,34,55,89,144
What’s best?
Hard to say which is the best option, but if you’re looking at making a consistent income over long periods of time, relying on Rolling Bets isn’t a wise move. Similarly, if you feel sick at the idea of increasing your stake after every loser to almost dizzying heights, then the Fibonacci sequence is one to avoid. The other three staking styles/plans are ones to strongly consider if you want to become a successful sports bettor. Which one you choose will depend on your preference, but they’re very similar. They risk low portions of your betting bank at once, and the profit/losses will be gradual.
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