The aim of sports gamblers is to make money while enjoying their favorite sport. It is a sad fact that for the vast majority of gamblers, this seems like an unattainable goal. But by putting together and applying a strategy, any person can turn this dream come true.
There are two aspects 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 that we must back winners at least a portion of the times. Let’s look at Horse Racing, anecdotally there are numerous professional punters who make an income from the selection of horses, but the most important word here is professional. Virtual reality VR casino Analyzing and analyzing each horse on the 59 racecourses across the UK requires a significant amount of time and expertise. If you’re looking to succeed, it’s a full-time job! Most of us this means that we must take the advice of experts to take care of the work for us.
Horse Racing Tipsters
UK horse racing is not without limit to self-proclaimed “experts” on the Internet offering up to PS100 monthly. When choosing an expert horse racing tipper, the primary factor to be considered is the long-term results.
The Internet is full of tipsters who’ve had a positive month, only to proceed to record losses for the following six months – however, you’ll only see the one month on their homepage! Don’t follow any advice without checking the full history of tipster’s results. Pick a tipster that publishes all of their horse racing tips information, and ideally when the results of their tips are released the following day, along with the complete record of their tips.
Check out the Tipster proofing website like Racing-Index which grades the performance for several tipsters. Take note of which tipster the money for and which tipster matches to your betting style Can you really place the hundreds of tips per month that certain tipsters need?
The mere act of following tipsters isn’t likely to bring us wealth The best tipsters are either locked out of the first time members, or they charge so high a rate that profits are lost instantly. The best solution is to create our own system based on advice from experts combined with our own investigation. This is the method that has been successfully employed in greyhound racing by the followers of the website. Like most things, the more effort you put into your system, the more will reap.
After we have a betting strategy in place, it’s time to consider the staking strategy. The most straightforward option is Fixed as well as Level Stakes where we simply place the same amount of money such as 2percent of our initial bank each time we bet on the horse we have chosen, but we’d like to increase the amount we bet as the betting bank increases. This results in Percentage Staking which is where a certain percentage of the betting bank is wagered every time. As we win, our stakes increase, while the stakes decrease as the bank’s size decreases.
But, we intuitively know that these stakes are too naive since we’d be placing the same amount of money into horses that has low odds as one with a high odds. If we want to maximize our winnings, we must put more money into the odds that are low as the returns will be lower.
To determine the best strategy for staking, we can take an online course in statistics and invest many years of research. We are fortunate to live in a time where research like this is accessible to us. Based on probability theory, we can develop an idea of the Kelly Strategy where the optimal proportion of our betting bank is determined by the odds of betting and our own estimation of the odds that the horse will win.
Utilizing the internet-based Kelly Strategy Calculator just feed into the values to calculate an estimate of what percentage from the bank that we place on each horse. The Kelly Strategy can give us some spooky percentage stakes should there is a first streak of horses with high odds and we can then adapt it into the Half Kelly Staking Plan where we bet half of the percentage recommended in Kelly Strategy. Kelly Strategy. This will result in an earlier accumulation of gambling earnings, but also a less stressful riding.