The main goal for those who gamble on sports is to earn a profit while enjoying their favorite sport. Unfortunately, for the majority of gamblers, this is an elusive dream. If you can develop and then carefully following a strategy anyone can make this dream come true.
There are two factors to take into consideration when deciding whether to make money from gambling on sports
- Bet Selection
- Staking Plan
The first one, Bet Selection, is obvious We must be backing winners at least some of the times. Let’s consider Horse Racing, anecdotally there are many professional gamblers who earn a situs slot online terpercaya livelihood from selecting horses, but the main word here is professional. Analysis and research of every horse on the 59 racecourses across the UK will require a substantial amount of time and knowledge. If you’d like to be successful , you’ll need to work full time! Most of us this means we have to use the advice from experts to complete some work for us.
Horse Racing Tipsters
UK horse racing is not without end of self-proclaimed “experts” on the Internet charging up to PS100 monthly. When choosing an expert horse racing tipper, the main thing we need to consider is long term results.
The Internet is filled with tipsters who have had one good month but then proceed to record an unprofitable number of times over the next six months. However, you’ll only see one month on their website! Do not follow any advice without checking the complete history of the tipster’s result. Find a tipper who publishes all of their horse racing tips history, ideally where the tips’ results are announced the next day along with a complete history of all their tips.
Have a look at an Tipster Site for proofing such as Racing-Index which grades the performance for several tipsters. Look at the tipster you the money for and which tipster matches with your betting preferences Can you really place the hundreds of tips per month some tipsters require?
It isn’t likely to bring us wealth – the best tipsters are snubbed by newly joined members. They also charge such high rates that any profits are lost instantly. The solution is to devise our own system based on tips from expert sources combined with our own research. This is the method that has been successfully employed in greyhound racing by the followers of the site. Like all things, the more you work into your system the more you will be able to get.
Once we have a betting strategy in place, it’s time to think about an appropriate staking plan. The simplest one is Fixed as well as Level Stakes where we simply bet the same amount such as 2percent of the initial betting bank, each time on our selected horse, however we will want to increase the amount we bet as our betting bank expands. This results in Percentage Staking in which a percentage of the bank’s current bet is wagered every time. In other words, as we win our stakes grow, and conversely the stakes shrink as the bank’s size decreases.
We are able to sense these staking plans to be foolish as we’d be putting the same amount of money on a horse with low odds compared to a horse with high odds. Since we want to maximise our profits we must put an additional stake in the odds that are low as the return will be less.
To determine the best staking plan we could take an online course in statistics and invest some time to research. We are fortunate to live in a time where research like this is easily accessible. Based on probability theory, we can develop the Kelly Strategy where the optimal percentage of our betting bank is calculated by calculating the odds associated with the bet and our own estimation of the odds that the horse will win.
Utilizing an online Kelly Strategy Calculator just feed in the values and you will get an estimate of what percentage from the bank that we put on each horse. The Kelly Strategy can give us some terrifying percentage stakes if we are starting with a run of horses with high odds, so we could adapt it to the Half Kelly Staking Plan where we bet half of the percentage advised according to Kelly Strategy. Kelly Strategy. This would lead to a slower accumulation of gambling profits but a less hair-raising riding.