4 Betting Strategies

As sports bettors, we know a winning plan is vital. However, with so many options, it can be overwhelming to determine which approach best fits us. For this reason, we have developed a list of the best betting techniques we have personally employed and found profitable.

1.Kelly's Test for Sufficient Evidence

Bet sizes are determined using the Kelly Criterion, which considers our available funds and the expected value of our betting choices. This strategy aims to maximize our long-term profits by balancing the risk of ruin with the profit potential.

We first must determine our edge on a given bet to use the Kelly Criterion. Players can do it by calculating the probability of their selection winning and comparing it to the odds the bookmaker offers. For example, if we believe a team has a 60% chance of winning and the odds being offered are +200, we have an edge of 40%.

Once we have determined our edge, we can use the Kelly Criterion formula to calculate the optimal size of our bet. The procedure is as follows:
(Edge / Odds) x Bankroll = Optimal Bet Size

For example, if our bankroll is $1,000 and we have determined that our edge on a given bet is 40%, the optimal bet size would be:
(0.4 / 2) x $1,000 = $200

While the Kelly Criterion can be a powerful tool for maximizing profits, it's important to remember that no betting strategy is foolproof. Players will always involve risks, and we must be aware of our bankroll and not overbet any given selection.

2. Value Betting

Value betting identifies bets with odds higher than the event's likelihood. A value bet may be +250 odds on a team with a 60% chance of winning.

Value betting requires correct event probability estimation. Players can do it by analysing statistical data.

Value betting allows consistent long-term gains. We may not win every bet, but getting higher odds than the event's probability means winning.

3. Blackjack basic strategy

Since the blackjack basic strategy invention, players have found ways to reduce the house edge. The bets are doubled during losing streaks when it comes to the Martingale System.

Other systems use progressive betting tactics, which increase bets after wins and reduce them after losses. Some players adopt a simple flat betting strategy and a perfect basic strategy.

The most ambitious blackjack players may use card counting and team play to defeat the house edge and make blackjack profitable.

4. Betting Systems

Betting systems involve using rules or guidelines to determine the size and frequency of our bets. There is a wide variety of betting systems, from simple to complex. Some common examples include the Martingale system, the D'Alembert system, and the Fibonacci system.

Martingale System

This approach involves doubling your bet after losing. Martingale is a gambling betting system. After a loss, negative advancement raises the stakes. If a gambler doubles their bet after each loss, they'll finally recover all losses plus the original bet. If you lose $10, gamble $20 on the next spin. Again, you'll bet $40. Eventually, you'll win, recoup your losses, and make a profit using this technique.

D'Alembert system

This strategy involves betting a base amount and then increasing or decreasing it by a certain amount each time you win or lose. For instance, a win after betting $10 will see the next bet increase to $11 while a loss would reduce the next bet to $9. This strategy works because it reduces your losses and keeps them minimal. The D'Alembert system involves increasing the size of one's bet after a loss and decreasing it after a win. The theory behind this system is that the player is more likely to win after a loss and less likely to win after a success, so the bet should be adjusted accordingly.

The Paroli system

This strategy involves betting a set amount and then doubling it whenever you win. For example, if you bet $10 and win, you would then bet $20. The idea behind this strategy is that you are more likely to win when you have a larger bet to increase your winnings quickly. This system is based on the theory that winning a few bets in a row will increase your chances of winning more overall. If you lose a bet, you reset it to its original amount.

The Fibonacci system

This system is used in gambling to try to recoup losses and guarantee a profit.

While betting systems can be helpful, it's essential to be aware of their limitations. Many betting systems rely on winning and losing streaks and can be prone to failure if we experience a particularly long line of wins or losses. Additionally, betting systems often require us to increase the size of our bets as we go, which can be risky if we need a larger bankroll.

Despite these limitations, betting systems can be helpful for those looking for a structured approach to sports betting. By following a set of predetermined rules, we can take some emotion out of the decision-making process and focus on making.