Most of you know the basic staking methods I have recommended novice sports bettors use.
Staking methods like the:
• Fixed staking method and;
• Percentage staking method
These are easy to understand, and allow for mistakes, without wiping out your entire bankroll.
However, over the last couple of years, the Kelly Criterion has become the most accepted and useful staking method for advanced sports bettors.
Today, I want to go over this in detail, and show you how you can use it to grow your bankroll.
Let's get started.
Your chance to win 5 out of 8 bets on the English Premier league!
Every day thousands of punters are looking for the perfect bet in sports betting! Most people think winning bets is down to blind luck.
And I get that.
But while there is an element of chance involved, the really, really great tipsters out there spend their time analysing hundreds - sometimes thousands - of pieces of data.
Then, that data is collected, collated and analysed.
It's pretty much a full time job…
And the hard work really pays off.
Take this guy for example…
He's produced winners of up to R1,140 and even a whopping R1,750.
Every Friday evening he sends his readers simple, step-by-step instructions on what bets to place.
In short, it couldn't be easier for ordinary people like you to take advantage of this.
Overall, this trends expert lands a profit in around 60% of his bets.
Staking methods for novice sports bettors
Before we get into the more complicated staking method,let’s recap on the simpler staking methods I mentioned earlier…
A fixed staking method is where you place a fixed amount on each bet. It never changes.
I.e. if your fixed stake is R250. Every bet will be R250 per bet.
The percentage staking method is when you calculate your stake based on a chosen percentage.
I.e. 5% of a R10,000 bankroll, would mean:
0.05 x R10,000=R500
These are the two easiest staking methods I recommend to novice sports bettors.
Now let’s get into the Kelly Criterion
Who and what is the Kelly Criterion?
J.L Kelly created the Kelly Criterion in 1956. A scientist working at Bell Labs at the time.
The Kelly Criterion is a simple mathematical formula, used to work out the optimal amount to bet by working out the expected level of return from a bet.
The greater the expected probability of the win, the higher the stake amount, that way you maximise your return.
In essence, the Kelly Criterion calculates the proportion of your own funds to bet on an outcome whose odds are higher than expected, so your own bankroll grows exponentially.
Seven filthy secrets to get rich quick
Have you noticed how some people always seem to have more money than others? They don’t necessarily have better jobs. Nor do they always earn amazing salaries. They just have more money.
But where... How... Did they get it?
What’s their secret?
Well, I’ve just released my new book - Little book of Big Income - 7 Filthy secret to get rich quick – In it you will discover how ordinary people can become extraordinarily wealthy just by applying some fairly simple techniques – techniques the rich use to get even richer. But the secret to how they do it will astound you – the rich don’t do anything special, they just do it in a very special way, as I’ll explain in my e-book.
I’m releasing 300 FREE copies starting today so if you want to reserve a copy of one of these 300 right now, simply claim your copy of Little book of Big Income Secrets.
The Kelly Criterion formula:
(BP – Q) / B
B = Decimal odds – 1
P = The Probability of success
Q = The Probability of failure (i.e 1 - P)
To explain this we will use a coin toss as our example.
The odds for the coin to land on heads is 2.00.
While the probability of success is 53%, it will land on heads.
Therefore, we work out the stake like this:
P = 0.53
Q = 1 – 0.53 = 0.47
B = 2 – 1 = 1
(0.53 x 1- 0.47) / 1 = 0.06
0.06 x 100 = 6%
So, on this bet, it’s recommended you bet 6% of your bankroll.
The main advantage of this staking method is it helps you strike the right balance between risk and safety.
An important aspect when it comes to being a successful sports bettor.
Until next time,