The search for profit doesn’t end once you find the best football betting tips. Much remains to be done to ensure consistent profits. Money management is as important as using the right football betting tips.
But in the rush to get their money, most people overlook this important aspect of football betting. So what is money management? Let’s look at it simply: you bet on two football matches. You know that one will make a profit 80% of the time and the other has a 50-50 chance of winning. You want to put more money on the match with 80% chance of profit right? That is money management Situs Rolet Dan Terpercaya .
It’s basically managing your money to deal with risks. So logic says that on risky bets you have to risk less money and on stronger bets you need to risk more money. This may seem reasonable to you, but it is often overlooked.
Now the next question is: How do we calculate how much to put on the team? The most common method is to use the same number (stake level) in each selection. While this can work in the long run, in the short term you should watch out for the long list of losers from football tips that cost more. Four or five losers in a row can quickly drain your bank. Therefore it might be better to look for a different approach.
Another approach suggested by many is the Kelly Criterion. However, Kelly requires you to know the odds of winning. The size of the bet is then determined by first converting the price offered into probabilities. You must then estimate the probability of winning your bet. The difference between the sports book price probability and your probability should be positive. If it’s negative, you should drop this soccer tip like a ton of bricks and move on to the next game. The size of the bet is then calculated using this difference in probabilities. A larger difference will suggest a larger investment and a small difference will suggest a smaller investment.
Now as you can imagine, the average person cannot estimate the probability of winning his soccer predictions. So this method was of little use to him. Yes, mathematicians and professionals alike praise this formula, and don’t get me wrong, it’s great in theory – but fails in practice. If it fails for at least 90% of the people who try to use it, and I think that includes you and me.
Instead I prefer to use the average available price. Sports Books has studied the game in depth and rarely gets the price wrong. So why not use this to our advantage? This makes our enemies their greatest strength and weakness. Yes, I know upset happens, but if you look at sports book prices over a long period of time, you’ll find that if they quote even-priced results, those results will happen very close to 50% of the time.
So using this as the actual probability of the outcome we can calculate accurately how much is invested in each football tips.