Image by pvproductions on Freepik
There is books about everything gambling. The US has a much greater selection of books, titles and authors who know their game. It can be from poker to horse racing. The class A – Z of betting. It’s the same for betting strategies and how to use your bankroll. I would say: ‘If what you are doing is making you money, then you don’t need me to tell you where you are going wrong.’ In fact, I’m pleased to say you are doing something right. Keep up the good work!
This article is going to be short and sweet. It’s going to stick to one subject which realistically is subjective although it could easily be about objective testing and data analysis, quantitative. That’s whether you should bet level stake or not. Perhaps it’s something you have considered or not. You may have a very a betting strategy or strategies. Considering there have been books written on the subject there really is a wealth of information at your hands.
Perhaps there is too much information or you are making you betting over complicated?
I generally find that most aspects of gambling are best kept simply. As the maxim goes: Keep It Simple Stupid.
I always wondered if that was an insult. I guess it depends if you have a comma after Simple.
Simplicity can be a beautiful thing.
You don’t want to make anything complicated for the sake of it, especially gambling. All it will do is mess you up, create more problems, and potentially cost you a fortune.
That’s the thing to remember it is your understanding and method which makes or costs you money and you will appreciate that with time.
So why do I suggest betting level stake?
It’s simple really. If you can pick between your winning selections and confident you can do that with regularity you may be costing yourself dear.
What I’ve found when gambling is it’s very difficult to pick between your bets. That nailed on certainty you bet 5 points fails to shine and that 33/1 shot you bet half a point wins.
Let’s look at the example, above.
£5 at even money = £5 loss
£0.5 win at 33/1 = £16.5 profit
Whereas £5 win at 33/1 would have given a profit of £165.
Now, I know you will be saying: ‘It’s easy after the event!’
So it might be. But you need to note all your bets for the season and assess whether betting level stake would have improved your profits. Perhaps it would have been a terrible idea. The data tells you the story. Perhaps you are a favourites man. Do you still try to pick between your selections? How does that work out? Are you right or wrong the majority of times? Because it still makes a big difference to your success or failure.
If you bet on big priced horses the odds available of the exchanges could see you betting at 100s to one. You get to the point where one of those winning a season at level stake make you a bundle of cash.
Do you really want to be betting on a giant priced horse and winning the same as if it was a 6/4 favourite?
It makes no sense to me at all.
In fact, it is a method and approach that’s going to drive you mad.
The only regrets I have gambling at missed bets which saw giant priced winners go astray. And others when I tried to be too clever and bet a fraction of a level stake and won next to nothing on 100/1 shot.
Question your methods with data.
If you are satisfied with your approach then all good and well but if you haven’t given it much thoughts you may be costing yourself good money.