Hey guys, hopefully this little guide will help some of you with your betting and help some people avoid going broke.
There are 3 ways which can be used to size your bets:
- Flat betting on each game: making the same sized bet on each game, whether it is a favourite or an underdog. I recommended to use an amount from 2-6% of your inventory. Also, you can keep the flat bet amount the same everyday, or adjust it according to changes made to your inventory everyday.
- Bet to win the same amount from each game: In this way you are betting to have a constant returns from each game.
For example: Betting $5 on a favourite to get a $2.44 return or Betting $1 on an underdog for a $2.44 return.
- Flat bet amounts according to confidence: This way of betting requires your judgement and is the most risky one, but also the way to profit the most if you have good instincts and have done your proper research.
I suggest a scale like:
Low: 3-5% of your inventory
Medium: 7-9% of your inventory
High: 13-15% of you inventory
I highly recommend not doing these things:
- All-in: This is the worst mistake that someone can make. The risk never justifies the reward, for example, someone wins 1 all-in, becomes confident and goes all-in again and what happens? They lose their entire inventory. The only exceptions that I can see for this is if you are making a max bet and are 100% confident, due to the chance of an overpay.
- Blindly following analysts: This should be pretty self-explanatory but I see this mistake made a lot here. Do your own research! There is a lot of very good information in the match threads, however, this should be backed up by your own research.
- Switching bets: This may be controversial, but I recommend not switching bets except for circumstances such as subs being announced, because then you are second guessing yourself, which will not allow you to become a successful bettor in the long term.
- Rage betting: This is one of the worst things that you can do when gambling – allow emotions to take over. Using the bet sizing techniques I listed above should help stop your emotions taking over.
Finally, I want to remind everyone to back themselves and not to get down after a losing bet. Instead, realise that if you do good research and not let emotions take over, you will most certainly be a winner in the long run!