This is a recurring question in betting, however, there are methods to assist you in betting.
To have profit in sports betting you need to have strategies for that, to have methods that bring you closer to success, in addition to having an estimate of the expected values, that is, the average earnings per bet. These are some basic premises, but next to that the question what arises is to know how much we should bet, or how willing I am to risk a value in a bet to extract the maximum profit from it.
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We are not going to deny that this is a rather complex question, or rather, a relative one, as each bettor has his own reality, be it banking, profile, experience levels, and this changes a much more precise definition. But we can still help, showing you some ways to help you understand this and make the best decision when choosing your stake.
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If you are starting or even have been in this segment for some time, but without adequate knowledge, we need to say the basics, how to keep in mind your financial reality and your goals when defining yourself as a player, to have a better clarity of how much to place on each bet. Another important thing is that there is consistency in a bet, even if it gives you a higher than normal euphoria or confidence, respecting the determined amount or the banking percentage you plan to place on each bet. If you work within a management, you will have no doubts about the amount you should bet. If you set a goal to use 5% of your bankroll on each bet, you can have better definitions of how much to bet, varying according to your winnings. But in addition to using a fixed value or percentage, you can go further, using some tools such as the Kelly Criterion or Expected Value. It is important to warn that to take this step, advancing in a more complete way of this universe, it requires more studies, research, analysis, calculations, because bets encompass all this, and even if your doubt is how much to bet, to be successful and profitable these details are crucial in the long run.
The Kelly Criterion, in addition to helping you get a sense of how much to bet, helps you maximize your profits and prevent losses. But to make this calculation you need to define the probability that an event will occur and use the odds that are being offered to the bookmaker in that same event. You will only be able to use it successfully if you have enough knowledge or certainty if the bet is worth it, because as we said, it will be you who will define the probability. After playing in the formula and defining your team's chance with the available odds, you will have a percentage result. That result will mean how much of your bankroll you will be betting on.
Another technique for knowing how much you owe or are confident about putting money into a bet is knowing the Expected Value. The (EV) represents how much we expect, on average, to win or lose, if we put that value 'x' times in a bet with those same odds. In a game of heads or tails the probability is 50% for each, correct? But in a football match you will be faced with odd’s for the victory of team A or team B, in addition to the tie. Applying the EV formula you can find the value of that event, of the teams that are involved, calculating more precisely how much money you can bet, since the odds are decided by the bookmakers, forcing you to go after these calculations to find out where and how much to bet.
Risk aversion is another issue that influences decision making to know how much to bet on a bet. This is a natural pattern in betting, as it involves uncertainty, and when the human being is emotionally involved in this fact, decisions can take different paths. In that case you will be able to bet less than the probability you are offering, simply because you let yourself be taken in by those emotions.
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