Is staking important? there are only two priorities in betting: don’t go broke and win as much as possible. While it’s almost certain everyone does their best in making the first priority happens, we are still not so good for the second priority.
Risk vs Reward Analysis
If you want to be successful in betting, you better learn about how to analyse reward vs risk. Once you start doing this, you will make your path to a more profitable betting and stable bankroll.
In staking plans, player varies the betting stake. This depends on the nature of each bet while targeting to balance the reward and risk. In other words, it’s about staying as long as possible in the game while making as much profit as possible.
Today, we’ve got so many staking plans out there, but let’s start with the most common first.
Before applying this plan, you need to understand yourself first. What kind of bettor are you? The more you know about yourself, the more effective this plan will be.
Now, this plan, the flat stakes betting, is waging the same amount of money every time. That means, if you have $100 in your deposit, you may need to split them to ten $10 bets. The reason not to use this plan? Well, it only rewards a small amount of money. So, if you’re looking for a bigger reward, this plan might not be good for you.
Reward vs Risk
There is another staking plan. In this way, the player splits his/her deposit into 3 bet sizes. Depending on how confident the player is, he/she uses the three of them. For example, a player just picked out his 3 bets on a football betting. The first is for the home team and their odd is around 3.0.
The second bet is from your best friend, who recommended Arsenal to beat Chelsea at 3.0 odd. While the third one is for Stoke, who you believe will win the match against Southampton. The odd is 3.0 for Stoke.
In this scheme, the player could place $20 on the first bet, $10 on Chelsea, and $5 on Stoke. He chose not to bet the same amount on three of them because he is lack of information about the teams. He thought it would be good for him if he distributes the wage to avoid huge losses.
This is what we call risk management and by doing so, the player was able to win the game. Risk and reward management is very crucial to keep the player from losing too much while trying to keep the profit as high as possible. It may not be easy to master, but as time passes, it will get easier to understand.
Sometimes using tipsters can drastically increase your chances of profiting whilst using your bankroll management alongside it.
Reasons to apply staking plan
There are 3 important reasons to apply the staking plan in every bet:
1. The plan stops the player from going broke.
2. Player gives himself/herself more chances to win
3. The plan allows the player to build a more stable bankroll