It is a generally accepted assumption that in order to be profitable at sports betting one needs to have and knowledge about the sport in question as the two most important prerequisites.
Such assumption is not far from the truth, to be honest, but in order to be considered a successful punter, one first needs a fully developed and well-disciplined staking method which will allow you freedom to bet on the long run without fearing the worst – going broke.
Staking methods and plans tend to be underestimated and undervalued, but their importance in betting could be greater. A universally accepted truth among professional bettors says the amount you use to bet is more important than what you place your money on.
What is a staking method?
Speaking from a definition standpoint, a staking method is described as a method of calculating the suitable amount of money to be placed on a bet in order to make consistent profit.
Staking methods come in different forms and have thus far been tested and verified to a certain extent. Various researches previously done on staking methods are yet to offer a universally accepted method to be labelled as the best one, but differences between the most common ones are more than obvious.
Which staking methods are there?
The number of staking methods is the equivalent to the number of bettors as there will hardly be two punters who will spread their money the same way. But speaking from a broader perspective there are a several types of commonly used staking methods.
Fixed Wager is definitely the most popular one. It implies betting a fixed amount with each bet, regardless of how much you win. The fixed wager reduces your chances of losing your entire stake on the long run and provides better control of your finances, but it also means your wins will be increased through slow progression.
Another way to go through the betting process is to bet everything you have all the time. It’s quite simple as it implies betting your entire bankroll on each bet. The advantages and disadvantages of such approach are quite evident as it allows you to win big fast, but also lose all you have even faster.
There are two betting methods that were quite popular at one point – Martingale and Fibonacci. These progressive staking plans allow you to get an advantage over the bookmaker by doubling your stake after any lost bet and by increasing your stakes in a Fibonacci sequence, respectively. These methods imply that you have sizeable bankrolls and patience to go through it all, but with a real risk of going bust while trying to cover the previous losses.
Standing as a contract to progressive staking method is proportional betting. The Kelly Criterion formula where you bet in proportion to your edge divided by the odds on every selection should result in winnings increasing in rapid rate, significantly higher than fixed-wager system which arguably remains the most secure of the all listed above.