To win more money on online sports betting sites, you need to know what amount you’re going to devote to your bet, the goal being to get the biggest return. But how do you define that amount? How do you increase your chances of making a fortune without going broke? On this page we’ll explain how betting a fraction of your balance can help you to reverse the trend on foreign bookmakers (but also on those authorized in England).
Just like in poker or other online gambling games, the money that you spend on sports betting should be managed with the greatest caution. As well, it is not recommended that you bet more than 5% of your capital per match! So you must divide your bankroll diligently, a bit like a mathematician or an accountant. To be a winner at foreign sports betting, you need to start by avoiding all risk of major losses! Because to betting and losing is not profitable over the long term … But how can you shift the balance of power?
You can determine the size of your bet in three different ways. We will detail them further below. Then try them all and maintain the approach with which you feel the most comfortable.
The Kelly criterion allows you to obtain the optimal bet based on a formula, which will yield a result in the form of a percentage. The formula goes like this:
((C x R) -1) ÷ (C – 1)
In this equation, C represent the odds displayed on an overseas bookmaker’s site, R is the bettor’s estimate of a probable victory. Let’s say that you want to bet on a match between Federer and Nadal (which may not be very original). In your opinion Federer has a 40% chance of winning. As for the odds given by the bookmaker, they are at 3.
((3 x 0,4) - 1) ÷ (3 - 1) = 0,1
To get the desired percentage, you multiply the result by 100. In the example above, you should bet 10% of your bankroll.
There is a second method to determine which bet you should devote to your predictions. It means setting a confidence index of the probable success of your prediction. Using this index, you’ll know exactly what amount to bet. Let’s say that you have €1,00. You estimate that Federer has a 9 in 10 chance of beating Nadal.
Since you never bet more than 5% of your capital at once, you will be able to spend €50 on the probability of a Swiss victory. With your confidence index being 9 out of 10, this means you would not bet more than 4.5% of your balance, which is about €9 and change.
The final approach is rather effective and logical. The greater the odds (the chances of this happening are slim), the less you bet -- that goes without saying! Here you have to bet proportionally according to the size of the odds. The closer the odds are to 1, the more probable the result and so the sum that you bet is higher. On the other hand, the closer the odds are to 3, means that you shouldn’t bet because the result is not very probable.
Here are some more tips to increase your sports betting income: