The main goal for those who gamble on sports is to make a profit while playing our favorite sport. The sad truth is that for the vast majority of gamblers, this seems like an unattainable dream. However by developing and carefully following a strategy anyone can make the dream come true.
There are two things to be considered when it comes to making money from gambling on sports
- Bet Selection
- Staking Plan
The first one, Bet Selection, is obvious it is important to be betting on winners at least a portion of the time. Let’s think about Horse Racing, situs slot online terpercaya anecdotally there are many professional gamblers who earn a good livelihood from selecting horses, but the most important word is professional. Analyzing and analyzing each horse on the 59 racecourses across the UK requires a significant amount of time and experience. If you’d like to achieve success, then it’s a full time job! The majority of us this means we have to use the advice of experts who can do a bit of the work for us.
Horse Racing Tipsters
UK horse racing has no end of self-proclaimed “experts” on the Internet who charge up to PS100 for a month. When choosing an expert horse racing tipper, the primary factor we must consider is the long-term performance.
The Internet is flooded with tipsters who’ve had a great month, but proceed to record losses for the following six – but you will only see one month on their main page! Do not follow any advice without checking the complete history of the tipster’s result. Choose a tipster who publishes all of their horse racing tips history, and where the tips’ results are announced the next day, along with the complete history of all their tips.
Take a look at a Tipster Proofing site like Racing-Index which evaluates the results for various tipsters. Look at the tipster you cash and that is compatible with your betting profile Do you have the ability to place the hundreds of tips every month that certain tipsters need?
The mere act of following tipsters isn’t likely to earn us riches The best tipsters are either locked out of new members or charge such high prices that the profits go to waste instantly. It is best to design our own system based on tips from expert sources combined with our own research. This is the approach that is successfully employed for greyhound racing among the fans of the site. Like most things, the more you work into your system, the more will reap.
When we have a bet strategy in place it is time to think about the staking strategy. The simplest strategy is Fixed and Level Stakes where we simply wager the same amount such as the 2% portion of our initial betting account and each time on a chosen horse, but we are likely to increase our stakes as our bank of bets increases. This can lead to Percentage Staking where a percentage of the bank’s current bet is wagered every time. In other words, as we win our stakes are larger while stakes shrink as the bank’s size decreases.
However, our intuition tells us that these staking strategies are foolish as we’d be placing the same amount of money on horses with low odds compared with a horse that has a high odds. Since we want for the highest return, it is best to put higher stakes on a low odds bet as there will be a lower return.
To determine the best Staking strategy, we could enroll in a correspondence course in statistics and invest many years of research. We live in an age which this information is readily available. From probability theory we have The Kelly Strategy where the optimal percent of our betting account is determined by the odds of betting and our own estimation of the probability for the winning horse.
Utilizing the internet-based Kelly Strategy Calculator just feed in the values to get percent of betting bank we put on each horse. The Kelly Strategy can give us some frightening percentage stakes in the event that we start with a few runs of horses that are high-risk, and we could modify it into a Half Kelly Staking Plan where we put in half the stakes recommended by the Kelly Strategy. This could result in an earlier accumulation of gambling earnings, but also a less stressful ride.